Question 1

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?

Accepted Answer

The answer of A manufacturer is contemplating introducing a product...

Question 2

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

Accepted Answer

By offering a strong guarantee, the manufacturer is reducing the risk for potential buyers who may be hesitant to try a new, unknown product. It shows that the manufacturer has confidence in their product and is willing to stand behind it. This can increase the likelihood of sales and customer satisfaction.

Question 3

You know that marketers have traditionally classified products based on characteristics of durability,tangibility,and use.You also know that each product type has an appropriate marketing-mix strategy attached.In analyzing your company's products,you decide to list each of these products and the appropriate marketing-mix strategy to understand where your products "fit." List these products and their appropriate marketing-mix strategies.

Accepted Answer

The answer of You know that marketers have traditionally classified...

Question 4

Happy Home Products produces detergents,toothpaste,bar soap,disposable diapers,and paper products.This company has a product ________ of five lines.
A)depth
B)length
C)consistency
D)height
E)width

Accepted Answer

The answer of Happy Home Products produces detergents,toothpaste,bar soap,disposable diapers,and...

Question 5

You know that your small firm cannot compete with the "big boys" in terms of price and promotion.Instead,you have decided to "outdesign" them.What is necessary for this strategy of "outdesigning them" to succeed?

Accepted Answer

The answer of You know that your small firm cannot...

Question 6

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

Accepted Answer

The "silent salesman" refers to the primary packaging, which is the packaging in direct contact with the product and is often the first thing the consumer sees and interacts with. It is designed to protect and preserve the product, while also promoting it through its aesthetic appeal and functional features such as ease of use and convenience. Retail, consumer, shipping, and secondary packaging all serve different purposes and are not typically referred to as "silent salesmen."

Question 7

Convenience goods,products purchased without much thought,can be classified as impulse goods and emergency goods,and this constitutes one of the four classifications of goods based on shopping habits.The purchase of a Mercedes automobile,life insurance,homogeneous shopping goods,and heterogeneous shopping goods are examples of the other classifications.Identify these "goods" classifications or segments.

Accepted Answer

The answer of Convenience goods,products purchased without much thought,can be...

Question 8

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)Captive-price pricing
B)Product-line pricing
C)By-product pricing
D)Two-part pricing
E)Optional-feature pricing

Accepted Answer

This is an example of product-line pricing, where the manufacturer offers different products within a product line at different price points based on their performance and features.

Question 9

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)None of the above

Accepted Answer

The answer of Purchasers of theatre tickets receive a 20%...

Question 10

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.First,define the consumption system and second,identify the two upcoming product strategies that are affected by this knowledge.

Accepted Answer

The answer of Studying how consumers shop,how they use a...

Question 11

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)capitalizing

Accepted Answer

The manufacturer is using a down-market stretch strategy by entering the lower price segment to reach a new market.

Question 12

McDonald's restaurants inside Super 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)co-branding
C)retail co-branding
D)ingredient branding
E)none of the above

Accepted Answer

The situation described in the question is an example of retail co-branding, which is when two separate brands join together to offer a product or service. In this case, McDonald's and Starbucks are partnering with Wal-Mart and Target, respectively, to bring their products to a wider audience. Co-branding allows both brands to benefit from the other's reputation and customer base, and the products can be positioned as high-quality due to the association with well-known brands.

Question 13

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?

Accepted Answer

The answer of In your position as a marketing manager...

Question 14

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

Accepted Answer

The answer of Marriott Corporation now contains hotels and motels...

Question 15

As the marketing manager for a product often referred to as a "commodity," you know that incremental sales and profits lies not in physical differentiation but in "service" differentiation.As you compose a memo to your boss regarding the concept of "service" differentiation,you note the six areas where service differentiation can make a difference.List these six areas for service differentiation.

Accepted Answer

The answer of As the marketing manager for a product...

Question 16

When Jack bought his new laptop,he also bought a laptop bag and a spare power cord through the same retailer.These items are considered to be ________.
A)core products
B)staples
C)convenience items
D)specialties
E)emergency items

Accepted Answer

Convenience items are goods or services that customers purchase frequently, immediately and without much research or thought. Laptop bags and spare power cords are frequently bought along with laptops and are easily available, which makes them convenience items.

Question 17

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."

Accepted Answer

The answer of You have been asked to create a...

Question 18

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?

Accepted Answer

The answer of You have been asked to prepare a...

Question 19

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)Mixed branding
B)Ingredient co-branding
C)Co-branding
D)Self-branding
E)None of the above

Accepted Answer

Ingredient co-branding refers to two brands joining together to make a new product, usually highlighting the feature of a key ingredient. In this case, Betty Crocker is using Hershey syrup as an ingredient in its cake mix and "Lunchables" is using Taco Bell tacos as an ingredient in its lunch combinations.

Question 20

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.

Accepted Answer

The answer of Industrial-goods classifications based on terms of how...

Quiz 12: Setting Product Strategy

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?

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 ________.

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

You know that your small firm cannot compete with the "big boys" in terms of price and promotion.Instead,you have decided to "outdesign" them.What is necessary for this strategy of "outdesigning them" to succeed?

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"?

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?

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?

McDonald's restaurants inside Super 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.

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.

When Jack bought his new laptop,he also bought a laptop bag and a spare power cord through the same retailer.These items are considered to be ________.

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."

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?

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?