Exam 10: Product Decisions

Discuss the implications for a firm's marketing strategy of classifying a product as a convenience,shopping,specialty,or unsought item.

A business can justify keeping a product as long as it contributes to profits or enhances the effectiveness of a product mix.

Cadillac recognized it needed to revitalize its brand and attract different market segments.These are indications that Cadillac's products were primarily in the ____ stage of the product life cycle.

Advertising used in the decline stage may prolong the life of the product.

Use the following to answer the questions. Megabus is a new line operating in the Northeast and Midwestern United States,plus in Canada.It offers travelers a cheap alternative to driving and flying between large cities,keeping the fares extremely low yet offering the latest technology.Unlike the traditional Greyhound Lines,Megabus is an express service,and is equipped with Wi-Fi,video screens,headsets,and seat belts.Many buses also run on biodiesel fuel.Additionally,Megabus picks up and drops off people in the centers of cities rather than at inconveniently-located terminals.Patrons can book tickets at Megabus.com,where some fares begin at just $1.Routes are limited,and are offered out of cities such as Toronto,New York,Baltimore,Philadelphia,and Chicago.Recently,its competitor Greyhound,has launched two new bus lines,BoltBus and NeOn,with similar fares and high-tech amenities.A fare on NeOn bus from Buffalo,NY to New York City is $50.00 roundtrip,while the same fare through Greyhound's traditional bus line costs $92.00.The benefit of Greyhound's traditional line is that there are more departure times and more stops in smaller towns along the way. -Refer to Scenario 10.2.When Greyhound launched the BoltBus and NeOn bus lines,this is an example of

What is a product?

Although they become part of a larger product,____ can often be easily identified and distinguished on the larger product.

Shannon Hill needed to buy an airline ticket to visit her parents.She called several airlines to compare rates and chose a flight on Southwest Air Lines because,for comparable prices,it had a better reputation for service.For Shannon,this flight is an example of which type of product?

Which of the following stages of the product life cycle is likely to see dealers offered promotional assistance from the producer?

Failure of a new product is always absolute.

Trial is the first stage of the product adoption process.

What major changes in a marketing strategy may be required as a product moves into the maturity stage of the product life cycle?

Which of the following is the most typical example of a new product introduction?

Products used directly in the production of a final product but are not easily identifiable are categorized as

Process materials are used directly in the production of products.

Being a product pioneer guarantees a product's success.

Consumers are reluctant to purchase substitute brands if a desired brand of a convenience product is unattainable.

Use the following to answer the questions. Megabus is a new line operating in the Northeast and Midwestern United States,plus in Canada.It offers travelers a cheap alternative to driving and flying between large cities,keeping the fares extremely low yet offering the latest technology.Unlike the traditional Greyhound Lines,Megabus is an express service,and is equipped with Wi-Fi,video screens,headsets,and seat belts.Many buses also run on biodiesel fuel.Additionally,Megabus picks up and drops off people in the centers of cities rather than at inconveniently-located terminals.Patrons can book tickets at Megabus.com,where some fares begin at just $1.Routes are limited,and are offered out of cities such as Toronto,New York,Baltimore,Philadelphia,and Chicago.Recently,its competitor Greyhound,has launched two new bus lines,BoltBus and NeOn,with similar fares and high-tech amenities.A fare on NeOn bus from Buffalo,NY to New York City is $50.00 roundtrip,while the same fare through Greyhound's traditional bus line costs $92.00.The benefit of Greyhound's traditional line is that there are more departure times and more stops in smaller towns along the way. -Refer to Scenario 10.2.Megabus is most likely in which of the following stages of the product life cycle?

An individual knows that a product exists,but has little information regarding the product and does not seek additional information.In what stage of the product adoption process is that person?

Hershey Foods Corp.offers a line of candy that includes Kit Kat,Mr.Goodbar,Krackel,Hershey's Kisses,Reese's Peanut Butter Cups,Rolo,and Twizzlers.These candies best illustrate Hershey's product mix