Question 1

Marketers must see themselves as benefit providers.For example,when a shopper purchases new shoes,he/she expects the shoes to cover his/her feet and allow them to walk unobstructed.This is an example of what level in the consumer-value hierarchy

Accepted Answer

A)  Pure tangible good 
B)  Basic product 
C)  Augmented product 
D)  Potential product 
E)  Consumption system

Question 2

When a physical product cannot easily be differentiated,the key to competitive success may lie in adding valued services and improving quality.Identify and discuss the six main service differentiators.

Accepted Answer

The answer of When a physical product cannot easily be...

Question 3

Marriott Corporation now contains hotels and motels from the "budget" end of the consumer spectrum to the "premium" end with their JD Marriott flagship locations.This is an example of a firm that successfully performed a ________ to reach more consumers and ventures that are more profitable.

Accepted Answer

A)  marketing diversification 
B)  two-way stretch 
C)  up-market stretch 
D)  down-market stretch 
E)  cross-stretch

Question 4

The customer will judge the offering by three basis elements: ________,services mix and quality,and price.

Accepted Answer

A)  performance 
B)  salespeople 
C)  price 
D)  product features and quality 
E)  none of the above

Question 5

Moving ________ carries risks.The new brand can cannibalize core brand sales and lower the core brand's quality image.

Accepted Answer

A)  up-market 
B)  two ways 
C)  one way 
D)  down-market 
E)  none of the above

Question 6

Marketers have traditionally classified products on the basis of three characteristics: ________,tangibility,and use.

Accepted Answer

A)  customer value hierarchy 
B)  expected 
C)  augmented 
D)  durability 
E)  none of the above

Question 7

It was sunny when Jenny went to class,but by the time class was over it was raining heavily,so Jenny stopped by the student store to buy an umbrella before she walked back to her dorm.In this case,the umbrella is an example of a(n)________.

Accepted Answer

A)  impulse good 
B)  staple 
C)  homogeneous shopping good 
D)  emergency good 
E)  heterogeneous shopping good

Question 8

In planning its market offering,the marketer must address the five product levels of the customer-value hierarchy.Describe the "customer-value hierarchy" and identify the five levels of product contained within.

Accepted Answer

The answer of In planning its market offering,the marketer must...

Question 9

When differentiated,products can then be branded.List the possible ways that physical products can be differentiated.

Accepted Answer

The answer of When differentiated,products can then be branded.List the...

Question 10

Factors that influence product-line length do NOT include company objectives or management aspirations.

Accepted Answer

A) True 
 B)False

Question 11

Some service firms often engage in ________,consisting of a fixed fee plus a variable usage fee.

Accepted Answer

A)  pure bundling 
B)  pure pricing 
C)  mixed pricing 
D)  captive pricing 
E)  two-part pricing

Question 12

Your research shows that over 53% of all purchases are made on impulse.As you sit down with your packaging design team,you tell them that the package must communicate many of the sales tasks.List the sales tasks that packaging must now incorporate due to the increase in self-service sales.

Accepted Answer

The answer of Your research shows that over 53% of...

Question 13

Every company's product line covers a certain part of the total possible range of products and consumer levels.

Accepted Answer

A) True 
 B)False

Question 14

A manufacturer of hiking boots looks at data that indicate that their subsegment of the market called "serious hiker" is declining and is predicted to decline into the future.The firm decides to enter the "low-price" segment with its new items.This is an example of a firm's ________ to reach a new market.

Accepted Answer

A)  down-market stretch 
B)  up-market stretch 
C)  two-way stretch 
D)  marketing research 
E)  capitalizing

Question 15

How do the four product-mix dimensions (width,length,depth,and consistency)affect a firm's product and corporate strategies

Accepted Answer

The answer of How do the four product-mix dimensions (width,length,depth,and...

Question 16

Industrial goods can be classified as ________,capital items,or suppliers and business services based on their costliness and how they enter the production process.

Accepted Answer

A)  service components 
B)  subassemblies 
C)  pieces and parts 
D)  specialty goods 
E)  materials and parts

Question 17

A(n)________ is defined as a distinct unit within a brand or product line distinguishable by size,price,appearance,or some other attribute.

Accepted Answer

A)  stockkeeping unit 
B)  UPC (uniform product code) 
C)  stock unit 
D)  product type 
E)  none of the above

Question 18

A product line can also be lengthened by adding more items within the present range.There are several motives for line filling: ________,trying to satisfy dealers who complain about lost sales because of missing items in the line,trying to utilize excess capacity,and others.

Accepted Answer

A)  responding to senior management wishes 
B)  responding to consumer wishes 
C)  reaching for incremental profits 
D)  reaching for incremental capacity 
E)  responding to sales-force demands

Question 19

The main point in segmenting products into different classes is that companies should recognize that these items ________ in the potential for being priced higher or advertised more as ways to increase sales,margins,or both.

Accepted Answer

A)  differ 
B)  are more elastic 
C)  are less elastic 
D)  respond to advertising differently 
E)  none of the above

Question 20

In discussions with the packaging design team,you note that they do not have a firm design objective for the final package.In an internal memo to your boss,you outline the objectives (both company and consumer orientated)that you wish to see implemented by the design team.List these objectives.

Accepted Answer

The answer of In discussions with the packaging design team,you...

Exam 12: Setting Product Strategy