1 A ________ is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.A) functionB) productC) benefitD) processE) structure Page: 325 2 A customer judges a product offering by three basic elements: product features and quality, services mix and quality, and ________.A) performance B) utility C) tangibilityD) priceE) availability Page: 325 3 The five product levels constitute a ________. At each level more customer value is added.A) product lineB) business modelC) customer value-hierarchy D) value gridE) demand chain Page: 326 4 When companies search for new ways to satisfy customers and distinguish their offering from others, they look at the ________ product, which encompasses all the possible augmentations and transformations of the product. A) consumptionB) expected C) potential D) augmented E) basic Page: 326 5 The way the user performs the tasks of getting and using products and related services is the user's total ________. A) consumption system B) consumable system C) consistent use system D) augmented system E) potential system Page: 326 6 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 him/her to walk unobstructed. This is an example of what level in the consumer-value hierarchy? A) pure tangible goodB) basic productC) augmented productD) potential productE) generic product Page: 326 7 How a consumer shops for organic foods and how he or she uses and disposes of the product is part of the consumers' ________ that is important for marketers to consider.A) value propositionB) consumption system C) value system D) quality perceptionE) value chain Page: 326 8 The sellers of ________ goods carry a wide assortment to satisfy individual tastes and must have well-trained salespeople to inform and advise customers.A) unsought B) specialty C) convenience D) heterogeneous shopping E) generic Page: 327 9 Marketers have traditionally classified products on the basis of three characteristics: ________, tangibility, and use.A) availabilityB) affordabilityC) aesthetics D) durability E) necessity Page: 327 10 Which of the following are tangible goods that normally survive many uses?A) generic goods B) durable goods C) core benefitsD) convenience goodsE) unsought goods Page: 327 11 Because ________ are purchased frequently, marketers should make them available in many locations, charge only a small markup, and advertise heavily to induce trial and build preference. A) nondurable goods B) durable goods C) services D) unsought goodsE) specialty goods Page: 327 12 What types of goods are purchased frequently, immediately, and with minimum effort by the consumers?A) specialty goods B) shopping goods C) unsought goods D) durable goods E) convenience goods Page: 327 13 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) ________. A) impulse good B) specialty goodC) homogeneous shopping good D) emergency good E) heterogeneous shopping good Page: 327 14 What goods are similar in quality but different enough in price to justify shopping comparisons?A) emergency goods B) homogeneous shopping goods C) heterogeneous shopping goods D) specialty goods E) convenience goods Page: 327 15 Products such as insurance, cemetery plots, and smoke detectors are examples of ________ that are products that the consumer does not know about or does not normally think of buying. A) specialty goods B) unsought goods C) heterogeneous shopping goods D) homogeneous shopping goods E) convenience goods Page: 327 16 Industrial goods can be classified as ________, capital items, or suppliers and business services based on their relative cost and how they enter the production process.A) service componentsB) sub-assembliesC) accessoriesD) specialty goodsE) materials and parts Page: 327 17 ________ are the major factors influencing the selection of suppliers for natural products.A) Price and delivery reliabilityB) Product features and customizationC) Price and customizationD) Delivery reliability and product featuresE) Customization and delivery reliability Page: 328 18 Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and ________.A) natural products B) component materials C) operating supplies D) equipment E) processed materials Page: 328 19 The two kinds of supplies with respect to industrial goods classification are maintenance and repair items, and ________.A) installationsB) operating suppliesC) processed materialsD) component materialsE) equipment Page: 328 20 ________ are major purchases and are usually bought directly from the producer with the typical sale preceded by long negotiation periods.A) Raw materialsB) Materials and partsC) Processed materialsD) Capital goodsE) Installations Page: 328 21 Most products are established at one of four performance levels: low, average, high, or superior. For example, mountain bikes come in a variety of sizes and physical attributes. When a consumer purchases a mountain bike costing $1,000, she/he expects the bike to perform to specifications and to have a high ________ meeting the promised specifications.A) featuresB) conformance qualityC) durabilityD) performance qualityE) reliability Page: 329 22 Many products can be differentiated in terms of their ________, which is its size, shape, or physical structure.A) formB) prototypeC) architectureD) modelE) blueprint Page: 329 23 ________ is the ability of a company to prepare on a large-scale basis individually designed products, services, programs, and communications.A) Mass customizationB) Reverse engineeringC) InteroperabilityD) Backward compatibilityE) Benchmarking Page: 329 24 ________ is the level at which the product's primary characteristics operate.A) DesignB) Conformance qualityC) ReparabilityD) Performance qualityE) Durability Page: 329 25 Buyers expect products to have high ________, which is the degree to which all the produced units are identical and meet the promised specifications.A) durabilityB) compatibilityC) conformance qualityD) formE) performance quality Page: 329 26 Most products can be offered with varying ________ that can supplement its basic function.A) degrees of reliabilityB) conformance qualitiesC) featuresD) formsE) designs Page: 329 27 If the Ford GT is designed to accelerate to 50 miles per hour within 10 seconds, and every Ford GT coming off the assembly line does this, the model is said to have high ________.A) reliabilityB) conformance qualityC) durabilityD) compatibilityE) interoperability Page: 329-330 28 ________ describes the product's look and feel to the buyer; it has an advantage of creating distinctiveness that is difficult to copy.A) DesignB) StyleC) DurabilityD) ConformanceE) Reliability Page: 330 29 Ideal ________ would exist if users could fix the product themselves with little cost in money or time.A) durabilityB) reliabilityC) styleD) designE) reparability Page: 330 30 ________ is a measure of the probability that a product will not malfunction or fail within a specified time period.A) ReparabilityB) DurabilityC) ReliabilityD) SpecialtyE) Compatibility Page: 330 31 When the physical product cannot be easily differentiated, the key to competitive success may lie in adding valued services and improving their quality. The main service differentiators are ordering ease, delivery, installation, ________, customer consulting, maintenance, and repair.A) technology intensityB) responsivityC) ease of useD) customer trainingE) adaptability Page: 331 32 Delivery refers to how well the product or service is brought to the customer. It includes speed, ________, and care throughout the delivery process. A) expedienceB) intensityC) tangibility D) performance E) accuracy Page: 331 33 ________ refers to educating the customer's employees to use the vendor's equipment properly and efficiently.A) Customer trainingB) Open innovationC) CrowdsourcingD) Co-developmentE) Collaborative research Page: 331 34 ________ refers to data, information systems, and advice services that the seller offers to their buyers.A) Sales force relationshipsB) Customer relationshipsC) Open source technologyD) Customer trainingE) Customer consulting Page: 331 35 Differentiating on ________ is important for companies with complex products and becomes an especially good selling point when targeting technology novices.A) deliveryB) ordering easeC) ease of installationD) customer consultingE) reparability Page: 331 36 ________ describes the service program for helping customers keep purchased products in good working order. A) Returns B) Ordering ease C) Installation D) Maintenance and repair E) Delivery Page: 331 37 Which of the following actions would result in the elimination of uncontrollable returns of products in the short run?A) improved handlingB) better packagingC) improved transportationD) proper storageE) cannot be eliminated Page: 331 38 Smith & Adams Poultry has recently upgraded its transactional model such that its customers (restaurants and hotels) can communicate with its central supply system to indicate purchase volumes, dates, and receive confirmation, through their computer terminals. This is an example of a company differentiating itself versus competition in terms of ________.A) customer relationshipsB) customer training C) installation D) delivery ease E) ordering ease Page: 331 39 Realizing that although household products is a huge category, taking up an entire supermarket aisle or more, it is an incredibly boring one, the founders of Method Products designed a sleek, uncluttered dish soap container that also carried functional advantages, such as ease of dispensing soap and cleaning. Method is competing in the crowded market for household products on the basis of superior ________. A) design B) durability C) conformance D) reliability E) performance quality Page: 332 40 In increasingly fast-paced markets, price and technology are not enough. ________ is the factor that will often give a company its competitive edge and is defined as the totality of features that affect how a product looks, feels, and functions in terms of customer requirements.A) ConformanceB) DesignC) PerformanceD) ReliabilityE) Style Page: 332 41 A group of products within a product class that are closely related because they perform a similar function, are sold to the same customer groups, are marketed through the same outlets or channels, or fall within given price ranges is known as a ________. A) product type B) product classC) need family D) product variant E) product line Page: 336 42 A(n) ________ is defined as a distinct unit within a brand or product line distinguishable by size, price, appearance, or some other attribute. A) stockkeeping unit B) inventory turnC) individual brandD) product typeE) brand line Page: 336 43 A ________ is the set of all products and items a particular seller offers for sale. A) product line B) product mix C) product extensionD) product system E) product class Page: 336 44 Happy Home Products produces detergents, toothpaste, bar soap, disposable diapers, and paper products. This company has a product ________ of five lines. A) typeB) lengthC) classD) mixE) width Page: 336 45 Using the ________ level of the product hierarchy to market its soups, Campbell Soups feature the company name first, then the soup variety on their packaging. A) product classB) product-type C) need-family D) product-family E) product-line Page: 336 46 A consumer products firm manufactures and sells over 200 different sizes and varieties of jams and jellies. We can say that this manufacturer's product mix has high ________. A) consistency B) depth C) intensity D) rangeE) width Page: 337 47 The ________ of the product mix refers to how closely related the various product lines are in end use, production requirements, distribution channels, or some other way. A) consistency B) depth C) width D) length E) composition Page: 337 48 The ________ of the product mix refers to the total number of items in the mix. A) width B) length C) depth D) breadth E) range Page: 337 49 In offering a product line, companies normally develop a ________ and modules that can be added to meet different customer requirements. A) convenience item B) flagship productC) staple item D) potential productE) basic platform Page: 337 50 The ________ of a product mix refers to how many variants are offered of each product in the line.A) width B) length C) depth D) consistency E) height Page: 337 51 Which of the following is a benefit of product mapping? A) studying market matrices B) integrating target markets C) identifying market segments D) educating consumers E) integrating target matrices Page: 338 52 Product-line analysis provides information for two key decision areasproduct-line length and ________.A) product-class composition B) product-mix pricing C) product pricing D) popular pricing E) product need family Page: 338 53 What occurs when any company lengthens its product line beyond its current range?A) market overreach B) brand dilutionC) product adaptations D) cannibalizationE) line stretching Page: 339 54 A company positioned in the "middle" market introduces a lower-priced product line. What type of line-stretching is this?A) home stretchB) up-market stretch C) down-market stretch D) maintenance stretchE) two-way stretch Page: 340 55 Moving ________ carries risks. The new brand can cannibalize core brand sales and lower the core brand's quality image. A) up-market B) two ways C) one way D) down-market E) out-market Page: 340 56 Companies may wish to implement a(n) ________ to achieve more growth, to realize higher margins, or simply to position themselves as full-line manufacturers. A) up-market stretch B) rebranding planC) outsourcing strategyD) disintermediation policy E) vertical integration strategy Page: 340 57 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.A) down-market stretch B) up-market stretch C) two-way stretch D) marketing research E) disintermediation Page: 340 58 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.A) upstream integrationB) two-way stretch C) up-market stretch D) down-market stretch E) downstream integration Page: 340 59 A product line can also be lengthened by adding more items within the present range. There are several motives for line filling. Which of the following is one of them? 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 Page: 341 60 If line filling is overdone, it could result in ________ and customer confusion. A) sales paralysis B) manufacturing inefficiencies C) self-cannibalization D) disintermediationE) ineffective management Page: 341 61 Price-setting logic must be modified when the product is part of a product mix. In that case, the firm searches for a set of prices that ________ profits on the total mix. A) are ineffective on total B) have no effect on total C) maximizesD) minimizesE) capitalize upon Page: 342 62 Companies normally develop ________ rather than single products and require sellers to establish perceived quality differences between price steps within it. A) product mixB) captive productsC) product linesD) optional productsE) average products Page: 342 63 When shopping for tires for your automobile, you notice that the manufacturer you have selected has tires for your car priced low, average, and high, based upon performance and features. This is an example of what type of product-mix pricing? A) two-part pricingB) product-line pricing C) captive product pricingD) market pricing skimmingE) price discrimination Page: 342 64 Some service firms often engage in ________, consisting of a fixed fee plus a variable usage fee. A) pure bundling B) pure pricingC) mixed pricing D) captive pricing E) two-part pricing Page: 343 65 In ________, the seller offers goods both individually and in bundles and often charges less for the "bundle" than for the individual products. A) pirating pricing B) captive pricing C) two-part pricing D) pure bundling E) mixed bundling Page: 344 66 Purchasers of theatre tickets receive a 20% discount if they purchase and pay for the full season at one time. This is an example of what type of product-mix pricing? A) mixed bundling B) pure bundling C) cross-promotion D) captive pricing E) two-part pricing Page: 344 67 McDonald's restaurants inside Wal-Marts and Starbucks inside Super Targets are examples of ________, whose main advantages are that the products can or may be convincingly positioned by virtue of the associated brands. A) cooperative marketing B) cross-promotionC) retail co-branding D) ingredient branding E) feature promotion Page: 344 68 Betty Crocker cake mixes using Hershey syrup in its cake mixes and "Lunchables" lunch combinations with Taco Bell tacos are examples of what special type of branding? A) family branding B) ingredient co-branding C) co-branding D) generic-branding E) individual branding Page: 345 69 The main advantage of co-branding is that a product may be convincingly positioned by virtue of the ________ involved. A) branding synergy B) increased advertising dollars C) multiple brands D) bundled package E) pure bundling Page: 345 70 The potential disadvantages of ________ are the risks and lack of control from becoming aligned with another brand in the consumers mind. Consumer expectations about the level of involvement and commitment are likely to be high, so unsatisfactory performance could be very negative for the brands involved. A) co-branding B) cannibalizationC) vertical integrationD) disintermediation E) brand stretching Page: 345 71 ________ is a special case of co-branding involving creating brand equity for materials, components, or parts that are necessarily contained within other branded products. A) Cross-branding B) Ingredient branding C) Equity branding D) Family branding E) Generic branding Page: 345 72 We define packaging as all the activities of designing and producing the container for a product. This includes up to three levels of material: primary package, secondary package, and ________.A) retailer package B) design package C) shipping package D) consumer package E) supplier package Page: 346 73 Sales of luxury goods such as perfumes, colognes, and aftershaves depend heavily upon their initial response by the consumer. A well-designed package can create convenience and promotional value. It has been called the "silent salesman." Which of the three levels of packaging is this "silent salesman"? A) retailer B) consumer C) shipping D) secondary E) primary Page: 346 74 Which of the following factors is one of the contributors to the growing use of packaging as a marketing tool? A) consumption aidB) consumer affluence C) consumer influence D) conformance qualitiesE) brand identification Page: 346 75 ________ are formal statements of expected product performance by the manufacturer. A) Insurance B) Warranties C) Bonds D) Invoices E) Balance sheets Page: 349 76 Many sellers offer either general or specific guarantees. Guarantees reduce the buyer's ________ risk. A) actual B) perceived C) real D) implied E) stated Page: 349 77 Guarantees are most effective in two situations. The first is when the company or products are not well known and the second is when the product's quality is ________ to competition. A) not known B) different C) inferior D) equivalent E) superior Page: 349 78 A new product is advertised on the "infomercials" as being "the best cleaner money can buy" and "if not completely satisfied, return the product for a full refund, including shipping." The strategy of using a strong guarantee in this instance is sound because ________. A) it is an example of a misleading or false advertising and is illegal B) the product is so superior to competition that there will be no claims for refunds C) it is just "advertising fluff" and the manufacturer has no intentions of refunding money D) for a product that is not too well known, it is "good advertising" because the claims will be a small percentage of sales E) for a product that is not too well known it reduces the buyer's risk in purchasing Page: 349 79 Marketing planning begins with formulating an offering to meet target customers' needs or wants. Page: 325 80 A product is anything that can be offered to a market to satisfy a want or need. Page: 325 81 In planning its market offering, the marketer needs to address five product levels, each of which reduces customer value. Page: 326 82 The customer-value hierarchy consists of the basic product, core benefit, expected product, augmented product, and the consumption system. Page: 326 83 Marketers have traditionally classified products on the basis of characteristics such as durability, tangibility, and use. Page: 327 84 Durable products normally require less personal selling and service and less seller guarantees than nondurable goods. Page: 327 85 Because they are intangible, durable goods normally require more quality control, supplier credibility, and adaptability than either services or nondurable goods. Page: 327 86 Carlos always buys bread and milk when he goes grocery shopping. In this case, bread and milk are examples of impulse goods. Page: 327 87 A Maserati sports car is considered a convenience good because interested buyers will travel far to buy one. Page: 327 88 The homogeneity of natural materials limits the amount of demand-creation activity that producers undertake. Page: 328 89 Capital items are long-lasting goods that facilitate developing or managing the finished products. Page: 328 90 Supplies can be classified as two kinds: heterogenous supplies and homogeneous supplies. Page: 328 91 To be branded, physical products need not be differentiated. Page: 328 92 To avoid "feature fatigue," companies must be careful to prioritize those features that are included and find unobtrusive ways to provide information about how consumers can use and benefit from the feature. Page: 329 93 Firms should design the highest performance level possible for their products. Page: 329 94 As a selling point, durability commands a particularly high pricing premium, especially for products that are subject to rapid technological obsolescence, as are personal computers and video cameras. Page: 330 95 If the physical product cannot be easily differentiated, the key to competitive advantage lies in the pricing of the related "services" provided by the manufacturer. Page: 330 96 Customer training and customer consulting are two areas for service differentiation that manufacturers can use with their products. Page: 331 97 The cost of processing a return can be significantly greater than that of an outbound shipment. Page: 331 98 Design can shift consumer perceptions to make brand experiences more rewarding. Page: 333 99 The product hierarchy stretches from basic needs to particular items that satisfy those needs. Page: 336 100 A product system is a group of diverse and unrelated items that does not function in a compatible manner and includes the product mix and product assortment. Page: 336 101 The four product-mix dimensions (length, width, depth, consistency) permit the company to expand its business. Page: 336-337 102 The product-line length can be obtained by averaging the number of variants within the brand groups. Page: 337 103 Every company's product line covers a certain part of the total possible range of products and consumer levels. Page: 339 104 Companies in the "middle market" should never attempt to stretch their line in both directions. Page: 340 105 Line filling, if overdone, may result in self-cannibalization and increased customer loyalty. Page: 341 106 In the rapidly changing market of today's world, product lines must be continuously updated or modernized. Page: 341 107 Price-setting logic must be modified when the product is part of a product mix. Page: 342 108 Companies normally develop product lines rather than a single product and introduce price steps such as a "low-," "average-," and "high-" priced computer system. Page: 342 109 Manufacturers of systems such as razors and ink jet printers use a system of pricing called "two-part pricing"one price for the disposable products and another for the "hardware." Page: 343 110 A pricing system in which there is a "fixed" fee and then a variable "usage" fee is called bundling. Page: 344 111 Pure bundling occurs when a firm offers goods both individually and in bundles. Page: 344 112 Co-branding is when two or more well-known existing brands are combined into a joint product and/or marketed together in some fashion. Page: 344 113 Ingredient branding can take on a form called "self-branding" in which the company advertises its own branded ingredients. Page: 345 114 Packaging is all the activities of designing and producing the container for a product. Page: 346 115 Labels can identify the product and must contain legal statements that under various Federal laws cannot be misleading, false, or deceptive. Page: 348 116 Warranties are formal statements of expected product performance by the manufacturer. Page: 349 117 A guarantee's greatest contribution to a product's success is that it decreases the buyer's perceived risk in the purchase of the product. Page: 349 118 Guarantees are most effective when the product is well known and/or similar in performance to other brands in the market. Page: 349 |
When a firm lengthens its product line by including more items within the exist range it is?
Pos Terkait
Copyright © 2024 ketajaman Inc.
