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Exam 12: Setting Product Strategy

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Question 1

Multiple Choice

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A company can classify its products into four types that yield different gross margins,depending upon sales volume and promotional costs.The four classifications include all EXCEPT ________.

A) core product
B) shopping goods
C) staples
D) specialties
E) convenience items

F) B) and D)
G) C) and D)

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Question 2

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A product system is a group of diverse but related items that function in a compatible manner and includes the product mix and product assortment.

A) True
B) False

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Question 3

Essay

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As you contemplate the introduction of your company's newest services,you think that the offering of a service guarantee would be a "marketing coup" and completely surprise your competition.You remember that your marketing management text stated that guarantees are most effective in two situations.What are these two situations

A manufacturer is contemplating introducing a product that is inferior to its competition in its performance,design,and functionality.However,the manufacturer believes that "good brand marketing" can overcome these shortfalls.Why is this thinking incorrect

________ are tangible goods that normally survive many uses.

________ is the level at which the product's primary characteristics operate.

In ________,the seller offers goods both individually and in bundles and often charges less for the "bundle" than for the individual products.

Differentiating on ________ is important for companies with complex products and becomes an especially good selling point when targeting technology novices.

In discussions with the packaging design team,it seems that they are unclear as to what should be included on the final product (consumer package)packaging.You list these objectives in a memo.List these objectives here.

Buyers expect products to have a high ________,which is the degree to which all the produced units are identical and meet the promised specifications.

Happy Home Products produces detergents,toothpaste,bar soap,disposable diapers,and paper products.This company has a product ________ of five lines.

In your position as a marketing manager for a small industrial company,you have been asked by the president to help differentiate the company's product from its competitors.In reviewing your marketing management notes,you note that the text stated that physical products could be differentiated in nine ways.These nine areas comprise the "meat" of the memo you are writing to the president of your firm.What are the nine ways that physical products can be differentiated

________ are similar in quality but different enough in price to justify shopping comparisons.

Companies in the "middle market" should never attempt to stretch their line in both directions.

Ideal ________ would exist if users could fix the product themselves with little cost in money or time.

The way the user performs the tasks of getting and using products and related services is the user's total ________.

How a consumer shops for organic foods and how they use and dispose of the product is part of the consumers' _________ that is important for marketers to consider.

Your firm is contemplating a bundling strategy for its line of products.In a memo to your boss,you outline the three guidelines for correctly implementing a building strategy.

Various factors have contributed to the increased importance of packaging as a marketing tool.List and briefly describe these events.

________ is the ability of a company to prepare on a mass basis individually designed products,services,programs,and communications.