Question 1

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 2

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 3

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 relations to product-line strategy, what is the company trying to accomplish with these two new items?

Accepted Answer

The answer of As the newest member of the marketing...

Question 4

Window cleaning services, consumable office supplies, personal computers, desk, paint, nails, and buckets are all considered a type of industrial goods. How would you classify these items?

Accepted Answer

The answer of Window cleaning services, consumable office supplies, personal...

Question 5

You know that marketers have traditionally classified products based on characteristics: 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 6

Your service firm is contemplating adding a "guarantee" component. Members of senior management are unclear as to the marketing advantages of a guarantee. How would you convince members of senior management that a guarantee can provide a marketing advantage?

Accepted Answer

The answer of Your service firm is contemplating adding a...

Question 7

Your research shows that over 53 percent 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.

Accepted Answer

The answer of Your research shows that over 53 percent...

Question 8

Your firm is contemplating a bundling strategy for its line of products. You note that there are three guidelines for correctly implementing a bundling strategy from your marketing management class. In a memo to your boss, you outline these strategies. List them here.

Accepted Answer

The answer of Your firm is contemplating a bundling strategy...

Question 9

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 10

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 "product system."

Accepted Answer

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

Question 11

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 eight ways. These eight areas comprise the "meat" of the memo you are writing to the President of your form. What are the ten ways that physical products can be differentiated?

Accepted Answer

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

Question 12

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

Accepted Answer

The answer of As a small firm, you know that...

Question 13

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

Accepted Answer

The answer of In discussions with the packaging design team,...

Question 14

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 offerings.

Accepted Answer

The answer of During a meeting, you were asked by...

Question 15

The four product-mix dimensions are width of a product mix, the depth of a product mix, the length, and consistency allows the firm to plan its product strategies. Using Procter & Gamble as an example, explain these dimensions. How can these four dimensions affect product and corporate strategy?

Accepted Answer

The answer of The four product-mix dimensions are width of...

Question 16

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

Accepted Answer

The answer of As the marketing manager for your firm,...

Question 17

In discussions with your 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.

Accepted Answer

The answer of In discussions with your packaging design team,...

Question 18

The Santaguida family shops for groceries weekly at at least three different stores; they buy only vegetables that are in season, and they compost rather than disposing peels and seeds in the trash. This type of consumer information forms the basis of product strategy. First, provide the term for this concept and second, identify the two upcoming product strategies that are affected by this knowledge.

Accepted Answer

The answer of The Santaguida family shops for groceries weekly...

Question 19

Marc Lafontaine routinely purchases the same brand of crackers with his weekly groceries. How would crackers be classified in this case?

Accepted Answer

The answer of Marc Lafontaine routinely purchases the same brand...

Question 20

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?

Accepted Answer

The answer of As you contemplate the introduction of your...

Quiz 12: Setting Product Strategy