Question 1

What is the importance of guarantees?

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Question 2

Industrial-goods classifications based on terms of how the products enter the production process and their relative costs include such segments as materials and parts and capital items.Window cleaning services,consumable office supplies,personal computers,desks,paint,nails,and buckets are included in the classifications of industrial goods.List the other "classifications" including subclassifications for industrial goods.

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Question 3

Outline three guidelines for correctly implementing a bundling strategy.

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Question 4

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?

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Question 5

Explain the concepts of product-mix width,length,depth,and consistency.

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Question 6

During a meeting,you were asked by the vice-president of marketing,to comment on the company's pricing strategy for its products.Recalling your marketing management course in college,your comments define the six situations involving product-mix pricing.List these six product-mix pricing strategies.

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Question 7

You have been asked to prepare a product-line analysis for your company's stable of products.Why is it important for product-line mangers to do a product-line analysis?

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Question 8

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

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Question 9

To be branded,products must be differentiated.List the possible ways that physical products can be differentiated.

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Question 10

As the marketing manager for your firm,you have been approached by your key component manufacturer suggesting that your two firms "ingredient brand" a new item.What are some of the requirements for succeeding in ingredient branding?

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Question 11

You have been asked to create a product system for your company's personal digital assistant.Before starting,you must define the term "product system" to the engineers to enable them to start design and production of the aligned items.Define the concept of a "product system."

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Question 12

Sellers must label their products.Labels serve many purposes beyond just "naming" the product.List the additional services provided by a product's label.

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Question 13

As the newest member of the marketing department,your immediate boss asks you to comment on the company's proposal to add two new shoes to the company's middle-of-the-road pricing and product-line strategies.The first pair will retail for $40.00 and has as its target market the "bargain" shopper.The second pair will retail for $200.00 and is targeted at the "sophisticated shopper." In relation to product-line strategy,what is the company trying to accomplish with these two new items?

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Question 14

Studying how consumers shop,how they use a particular product or service,and how they dispose of the product when consumed is important for marketers.This information forms the basis of product strategy.Define the consumption system and identify the two upcoming product strategies that are affected by this knowledge.

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Question 15

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,outline the objectives (both company and consumer orientated)that you wish to see implemented by the design team.

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Question 16

Explain the concept of line stretching and the three uses for it.

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Question 17

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

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Question 18

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?

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Question 19

Product-mix pricing can involve a number of pricing strategies for the brand manager.List each of these strategies and briefly define each.

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Question 20

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.

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Quiz 12: Setting Product Strategy