Question 1

The concept of product quality is the same from consumer to consumer and from consumer markets to organizational markets.

Accepted Answer

The concept of product quality may differ from consumer to consumer and may also differ between consumer markets and organizational markets. Consumers may value different aspects of product quality, such as durability, design, convenience, and price, based on their needs, preferences, and budget. Organizational buyers may have additional criteria for product quality, such as compatibility, reliability, efficiency, and service, based on their business goals and standards. Therefore, product quality is a subjective and context-dependent concept that cannot be generalized across all consumers and markets.

Question 2

Product managers can be responsible for a single product, a product line, or several products.

Accepted Answer

Product managers can be responsible for managing a single product, multiple products, or an entire product line.

Question 3

To manage products effectively, the product manager must be independent of other departments.

Accepted Answer

The answer of To manage products effectively, the product manager...

Question 4

A runout approach to product deletion lets the product decline without changing the marketing strategy.

Accepted Answer

The answer of A runout approach to product deletion lets...

Question 5

Product support services are important mainly for products that are mechanical in nature.

Accepted Answer

Product support services are important for all types of products, including those that are mechanical as well as digital, electronic, and software-based.

Question 6

A brand manager is a type of product manager.

Accepted Answer

A brand manager is a type of product manager that focuses on building and managing a brand's image, reputation, and messaging. They work closely with other product managers and marketing teams to ensure that the brand's products align with the overall brand strategy and communicate the brand's values and benefits to consumers.

Question 7

The sum of all the product's physical characteristics is called product quality.

Accepted Answer

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Question 8

Systematic reviews of a company's product mix aid in determining when product deletion is necessary.

Accepted Answer

Systematic reviews of a company's product mix help in identifying which products are not contributing to the business goals, and thus need to be removed from the product line. Therefore, it can aid in determining when product deletion is necessary.

Question 9

The decision to drop a product should always be a unanimous decision of the management team.

Accepted Answer

While it is important for the management team to have a thorough discussion and come to a consensus on the decision to drop a product, it does not necessarily have to be a unanimous decision. Ultimately, the decision should be made based on strategic factors and what is best for the company as a whole.

Question 10

Product design is the process of creating and designing products so that consumers perceive them as different from competing products.

Accepted Answer

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Question 11

Designing a product that customers perceive as different from competing products is an example of product differentiation.

Accepted Answer

Product differentiation refers to the process of designing and marketing a product in a way that makes it stand out from its competitors, highlighting its unique features and benefits to attract customers.

Question 12

The phase-out approach to product deletion exploits any strengths left in the product.

Accepted Answer

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Question 13

The runout approach to product deletion is used for technologically obsolete products.

Accepted Answer

The runout approach involves gradually reducing production until the remaining inventory is sold, typically used for products that have become technologically obsolete.

Question 14

Warranties and customer training are examples of customer services.

Accepted Answer

Both warranties and customer training are services provided to customers to ensure they have a good experience with a product or service.

Question 15

How a pair of jeans looks, regardless of the price, is an example of styling.

Accepted Answer

Styling refers to the appearance and design of a product, such as the cut, color, and other aesthetic aspects. The price does not necessarily determine the styling of a product.

Question 16

The phase-out approach to product deletion involves a process of continuous price increases to make as much profit as possible before the product is finally priced out of existence.

Accepted Answer

The statement describes the approach of price skimming, not phase-out. Phase-out involves gradually reducing production and availability of a product until it is no longer offered.

Question 17

The dropping approach to product deletion generates a sales spurt just before removing the product from the market.

Accepted Answer

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Question 18

Delivery, installation, financing, repair, warranties, and guarantees are all examples of product features.

Accepted Answer

These are examples of services or additional benefits that accompany a product, not features of the product itself. Product features refer to the characteristics inherent to the product, such as design, functionality, and technical specifications.

Question 19

If you buy McDonald's French fries in Fort Collins, Colorado, and later buy McDonald's French fries in College Station, Texas, you expect them to be of the same quality. This is referred to consistency of quality.

Accepted Answer

Consistency of quality refers to the expectation that a product or service will meet the same standards regardless of where or when it is purchased or consumed. McDonald's is known for its consistency across its various locations, so customers expect the same quality of French fries regardless of which location they visit.

Question 20

Consistency of product quality means giving consumers the quality they expect every time they purchase a product.

Accepted Answer

Consistency of product quality means delivering the same level of quality to consumers every time they purchase a product, thereby meeting their expectations.

Quiz 12: Developing and Managing Products