Question 1

To differentiate their products, companies sometimes emphasize the product support services that they offer. This is especially true when

Accepted Answer

The answer of To differentiate their products, companies sometimes emphasize...

Question 2

The overall characteristics of a product that allow it to perform as expected in satisfying customer needs is

Accepted Answer

Quality encompasses all of the other characteristics listed and is the most comprehensive way to describe a product's ability to satisfy customer needs. Quality refers to the degree to which a product meets or exceeds customer expectations in terms of reliability, performance, safety, and other attributes.

Question 3

Three major ways in which marketers engage in product differentiation are

Accepted Answer

The three major ways in which marketers engage in product differentiation are product quality, product design and features, and product support services. These factors help create a unique value proposition that sets a product apart from its competitors. Product quality refers to the level of excellence a product provides and how well it meets customer needs. Product design and features involve the physical appearance, functionality, and added benefits of a product. Product support services include warranties, technical assistance, and other services that enhance the customer's overall experience. By focusing on these three factors, marketers can create a differentiated product that stands out in the market.

Question 4

The decisions and activities intended to create and maintain a certain concept of the firm's product, relative to competitive brands, in customers' minds is

Accepted Answer

The activity described is product positioning, which involves creating and maintaining a specific image of a product in the minds of consumers in relation to competitors. Perceptual mapping is a technique used to visualize consumer perceptions and preferences for different brands, while repositioning involves changing a product's image in the minds of consumers. Product deletion and product development are other product-related activities that are not directly related to creating and maintaining a product's image in the minds of consumers.

Question 5

A suggested approach to deleting products, in which each product is evaluated periodically to determine its impact on the overall effectiveness of the firm's product mix, is called a(n)

Accepted Answer

The suggested approach described in the question is a systematic review, in which the products are evaluated periodically to determine their impact on the overall effectiveness of the firm's product mix. While the other options may be related to product evaluation, they do not specifically describe the approach described in the question.

Question 6

The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.

Accepted Answer

The product deletion process involves evaluating the sales, costs, and profits of a product to determine whether it should be removed from the product mix. This is similar to the business analysis step of the new-product development process, which also involves analyzing the potential profitability of introducing a new product. The other options are not as relevant to the product deletion process. Idea generation and screening are part of the early stages of new-product development, while product development and test marketing occur after a product has already been approved for development.

Question 7

When Old Spice came out with the "Smell like a Man" advertising campaign, the goal was to _____ the brand from one that appealed to older men to a new, younger target market.

Accepted Answer

The goal of the "Smell like a Man" campaign was to reposition the Old Spice brand from one that appealed to older men to a new, younger target market.

Question 8

A new variety of Cheetos is initially introduced in Fort Worth, Texas; Raleigh, North Carolina; Chicago, Illinois; and Spokane, Washington. After its initial success, Frito-Lay markets the Doritos in those entire states, then the adjacent states, and finally the entire country. Frito-Lay is using a ____ for its new variety of Doritos.

Accepted Answer

Frito-Lay is using a rollout approach where they introduce the new variety of Doritos in a few selected regions and then gradually expand the distribution to wider areas.

Question 9

When determining how a product is conceived, planned, produced, and even its physical appearance and its specific characteristics, one is really talking about the product's

Accepted Answer

The product's conception, planning, production, physical appearance, and specific characteristics are all related to its design, styling, and features. The product's positioning and ability to meet customer service needs may also factor into its overall success, but they are not directly related to its conception and production. The level and consistency of quality is important, but it is only one aspect of the product's overall design and features.

Question 10

The ability of a product to provide the same level of quality over time is called

Accepted Answer

Consistency refers to the ability of a product to maintain the same level of quality over time, which is an important factor for ensuring customer satisfaction and repeat business. Longevity refers to the lifespan of a product or how long it lasts, while variability, status, and image are not directly related to a product's ability to provide consistent quality.

Question 11

A run-out policy of product deletion

Accepted Answer

A run-out policy of product deletion is a gradual approach to removing a product from the market. Rather than an immediate drop decision (B), it lets the product decline without changing the product strategy (A), but it also exploits any strengths left in the product (C). It does not involve continually raising the price of the product (D) nor is it related to production shortages (E).

Question 12

Dropping an unprofitable product immediately is the best strategy when

Accepted Answer

When losses are too great to prolong the product's life, it is best to drop the unprofitable product immediately. Continuing to keep the product in the market would only result in further losses and drain resources that could be better allocated towards more profitable products.

Question 13

Which of the following is the best definition of product features?

Accepted Answer

Product features refer to the specific design characteristics that allow a product to perform certain tasks. These features can include attributes such as size, color, shape, materials, durability, and performance capabilities. They are what distinguish a product from other products on the market and can contribute to its appeal to consumers.

Question 14

Lowe's differentiates its product offerings from its competition with stores like Costco's by offering delivery and installation, financing arrangements, and repairs. Lowe's is differentiating through

Accepted Answer

Lowe's is differentiating itself through its customer services, which include delivery and installation, financing arrangements, and repairs. These services add value to the product offerings and make the shopping experience more convenient for customers. This is different from product features (E), which refer to the characteristics of the product itself, and company features (D), which are the characteristics of the company such as its size or reputation. Product ancillaries (A) are additional items or services that are sold alongside the product, but do not impact its functionality, whereas company quality (B) is a measure of the overall quality of the company's products, services, and customer experiences.

Question 15

Product deletion can best be described as the process of deleting a product from the product mix when it

Accepted Answer

Product deletion is usually done when a product no longer satisfies a sufficient number of customers. This can be due to changes in preferences or increased competition, making it necessary to remove the product from the product mix. Other factors such as production costs and profits may also be considered, but ultimately customer satisfaction and demand drive the decision to delete a product.

Question 16

Roberto recently purchased a new Brunswick Billiards table for his recreation room. The next day after delivery, Roberto noticed a problem with the way one of the pockets was strung. Since it was a weekend, he didn't expect to have it repaired. However, when he called the store to leave a message, someone answered the phone. She gave Roberto a number where he could call a repair representative who would come straight to Roberto's house within an hour. Brunswick Billiards is most likely differentiating itself through

Accepted Answer

The fact that Brunswick Billiards has a repair representative who can come to Roberto's house within an hour shows that they are offering product support services, which is a way of differentiating themselves from competitors.

Question 17

If a company is introducing a brand into a market where it already has one or more brands, it would likely choose which of the following bases for positioning the new product?

Accepted Answer

The answer of If a company is introducing a brand...

Question 18

Product deletion

Accepted Answer

Product deletion may be opposed by management because they may have personal attachments to the product, or they may believe that it still has potential for success.

Question 19

Services have six basic characteristics: intangibility, inseparability of production and consumption, perishability, client-based relationships, customer contact, and

Accepted Answer

The six basic characteristics of services are intangibility, inseparability of production and consumption, perishability, client-based relationships, customer contact, and heterogeneity. Option A, labor-intensiveness, is not one of the six basic characteristics of services. Option B, orientation toward value, is a concept related to marketing but is not a basic characteristic of services. Option C, homogeneity, implies that services are uniform, but this is not always true, as services are often customizable. Option E, specialization, is also not one of the basic characteristics of services, but a feature of certain service providers.

Question 20

Marketers of a particular brand of ice cream have decided to delete their line of ice cream bars. They will do so by letting the product decline and not change the current marketing strategy. This method of deletion is called

Accepted Answer

The method described in the scenario is a phase-out strategy, where the product is gradually discontinued without any sudden changes to the marketing strategy. Business analysis involves a detailed evaluation of a product's profitability, screening refers to the process of evaluating new product ideas, immediate drop involves suddenly discontinuing the product, and run-out involves continuing to sell the remaining inventory of a product until it is depleted. None of these methods match the scenario as closely as phase-out.

Quiz 11: Developing and Managing Goods and Services