Deck 8: Elements of Product Planning for Goods and Services

Question 1

Companies use artificial intelligence and intelligent agents to forecast what a customer wants even before the customer knows that he or she wants it.

Answer 1

True
Explanation: Analytics are used to help AI and intelligent agents anticipate customer needs.Today many products try to forecast what a customer will want next,perhaps even before the customer knows it.

Question 2

A product assortment is the set of all product lines and individual products that a firm sells.

Answer 2

True
Explanation: A product assortment is the set of all product lines and individual products that a firm sells.

Question 3

A mirror that takes an image of a customer and shows them how makeup will look on their face or how clothes will look on their body is an example of the use of augmented reality.

Answer 3

True
Explanation: Augmented reality overlays a computer-generated image,sound,text,or video on a user's view of the physical world.

Question 4

An individual product is a particular product within a product line.

Question 5

A product might involve a physical good,a service,or a combination of the two.

Question 6

Software applications can offer value-adding services to supplement a core product.

Question 7

The definition of quality focuses on the producer.

Question 8

Product means the need-satisfying offering of a firm.

Question 9

It is usually more difficult to provide consistent quality for goods than for services.

Question 10

Goods are intangible and services are tangible.

Question 11

Satellite radio is an example of 100 percent product emphasis.

Question 12

Goods are typically mass-produced in a factory far away from customers,while services are produced in their presence.

Question 13

The "Product" area is concerned with what goods and services are produced,not with decisions about installation,instructions on use,packaging,a brand name,a warranty,or after-sale service.

Question 14

Although a lot of data is produced when technology is integrated into products,firms have yet to harness it for use.

Question 15

Product line length refers to the amount of the different products that come under the same family brand.

Question 16

Augmented reality refers to having machines operate like humans with respect to learning and decision making.

Question 17

A product line is a set of individual products that are closely related.

Question 18

When comparing two similar products,the product with the most features is the higher-quality product.

Question 19

A "Product" should be thought of as potential customer satisfaction or benefits.

Question 20

A service is not a product,because services do not include any physical good.

Question 21

Brand equity is likely to be lower if customers insist on buying a product and retailers are eager to stock it.

Question 22

Branding would be more likely to be successful if dependable and widespread availability of a product is possible.

Question 23

Branding includes the use of trademarks and brand names to identify a product.

Question 24

A marketing manager should make sure the firm's brand names do not become so familiar that they become common descriptive terms for certain kinds of products.

Question 25

A service mark is the same as a trademark,except that it refers to a service offering.

Question 26

Despite the different levels of brand familiarity,brands generally have only one set of target customers.

Question 27

Branding is more likely to be successful if the product is the best value for the price,and quality can be consistently maintained.

Question 28

Brand equity is the value of the brand's overall strength in the market.

Question 29

Customers will pay a premium if a brand consistently delivers on a promise.

Question 30

Branding decisions should be based on two questions: "Where will the brand be used?" and "How much should be spent on branding?"

Question 31

A firm can lose all rights to a brand name if the name becomes a common descriptive term for that kind of product.

Question 32

A trademark can be a word but cannot be a symbol.

Question 33

Brand insistence means that target customers usually choose one brand over other brands,perhaps because of habit or favorable past experience.

Question 34

The Lanham Act spells out the exact method for protecting registered trademarks,but it does not force firms to register their trademarks.

Question 35

Brand familiarity means how well customers recognize and accept a company's brand.

Question 36

A service logo is a type of trademark used for a service offering.

Question 37

Brand preference means customers usually choose the brand over other brands,perhaps out of habit or past experience.

Question 38

Brand names that convey a positive image in one language may be meaningless in another.

Question 39

Family brands may cut promotion costs because the goodwill attached to one or two products may help the others.

Question 40

If a trademark is to be used in foreign markets,it is wise to register it under the Lanham Act.

Question 41

Consumers in the U.S.generate more trash per person than anywhere else on the planet,and packaging is a major contributor to this dilemma.

Question 42

Coke's logo greeting a consumer when they open the refrigerator and see the can is an example of enhancing the product.

Question 43

There is no real reason for a firm to use individual brands rather than a family brand-except to avoid confusion.

Question 44

Good packaging can provide a product with an important competitive advantage.

Question 45

Manufacturer brands are always advertised and distributed more widely than dealer brands.

Question 46

It is illegal for a firm to use a package that cannot be recycled.

Question 47

A major advantage of dealer brands is that the intermediary usually earns a better margin than the intermediary would earn with manufacturer brands.

Question 48

The "battle of the brands" is the competition between dealer brands and manufacturer brands.

Question 49

The "battle of the brands" hurts consumers by driving up prices.

Question 50

A licensed brand can be used by only one company.

Question 51

Spending money to improve protective packaging may be necessary,but it usually results in higher total distribution costs for a firm's product.

Question 52

A product that has no brand other than the identification of the contents is a generic product.

Question 53

Packaging can add value to a market offering by promoting,protecting,or enhancing the product.

Question 54

Because packaged products are regularly seen in retail stores,a good package may give a firm more promotion effect than it could possibly afford with advertising.

Question 55

The Federal Fair Packaging and Labeling Act requires that consumer goods be clearly labeled in easy-to-understand terms to give consumers more information.

Question 56

Dealer brands are brands created by producers.

Question 57

Examples of packaging's role of protecting include its link to promotion and its role in conveying product information.

Question 58

It is usually necessary for a firm to use a family brand rather than individual brands if it plans to offer products at different quality and price levels to different target markets.

Question 59

A growing number of consumers are moving toward plastics packaging because it is clean,light,and durable.

Question 60

Generic products are popular in the U.S.and other developed nations,but not in less-developed nations.

Question 61

There are two broad groups of product classes based on the type of customer that will use the product.

Question 62

A warranty explains what the seller promises about its product.

Question 63

The Federal Fair Packaging and Labeling Act of 1966 requires that firms in a product-market reduce the number of package sizes to three or fewer for any product.

Question 64

Business product classes are based on how buyers think about products and how the products will be used.

Question 65

Customer service guarantees are becoming less common because service companies can't live up to their promises.

Question 66

The four groups of consumer products are convenience products,shopping products,specialty products,and unsought products.

Question 67

The Magnuson-Moss Act says that producers must provide a clearly written warranty if they choose to offer any warranty.

Question 68

Customers usually plan and shop for impulse products.

Question 69

Business product classes are based on the way that buyers shop for and buy products,because there is much more shopping for business products compared to consumer products.

Question 70

Shopping products are products that are purchased immediately when the need is great.

Question 71

Products a consumer needs but isn't willing to spend much time shopping for are convenience products.

Question 72

Consumer products that a customer buys on sight as unplanned purchases,may have bought the same way before,and wants "right now" are impulse products.

Question 73

Consumer products that a customer feels are worth the time and effort to compare with competing products are shopping products.

Question 74

Emergency products are purchased only when the need is great and urgent,and therefore price is usually not very important.

Question 75

Staples are consumer products that are sold in places like gourmet shops and health food stores,because convenience is not important to the customer.

Question 76

A warranty must be available for inspection before a purchase is made.

Question 77

According to the text,the consumer product classes are based on why consumers use products.

Question 78

Consumer products that are bought often,routinely,and without much thought are staples.

Question 79

The Federal Fair Packaging and Labeling Act of 1966 requires that consumer products be clearly labeled in understandable terms.

Question 80

Convenience products include staples,impulse products,and emergency products.