Question 1

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

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Question 2

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

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Question 3

Industrial-goods can be classified in terms of how they enter the production process and their relative costliness. Explain the three groups of industrial goods.

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Question 4

When differentiated, products can then be branded. List and explain the possible ways that physical products can be differentiated.

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Question 5

In planning its market offering, the marketer must address the five product levels of the customer value hierarchy. Describe the "customer value hierarchy" and identify the five levels of product contained within.

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Question 6

A company's product mix, the set of all products and items a particular seller offer for sale, is important to the company because it allows the company product flexibility. Explain how product-mix dimensions aid company profits.

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Question 7

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

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Question 8

Product-line length is important for a company in its pursuit of profit opportunities and is composed of line stretching. Explain the concept of line stretching and the three uses for it.

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Question 9

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 10

The vast array of products that consumers buy can be classified on the basis of shopping habits and are broken down into four main areas. List these four main areas of consumer shopping habits and explain what elements are included within.

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Quiz 12: Setting Product Strategy