Question 1

The ________ of the product mix refers to the total number of items in the mix.

Accepted Answer

The length of the product mix refers to the total number of items a company offers across all its product lines.

Question 2

The ________ of the product mix refers to how closely related the various product lines are in end use,production requirements,distribution channels,or some other way.

Accepted Answer

Consistency refers to how closely related the various product lines are in terms of end use, production requirements, distribution channels, or some other way. Choice B refers to the variety of products within a single product line, choice C refers to the number of different product lines offered by a company, choice D refers to the total number of products within a company's product mix, and choice E is not a commonly used term in relation to product mix.

Question 3

Delivery refers to how well the product or service is brought to the customer.It includes speed,________,and care throughout the delivery process.

Accepted Answer

Accuracy is a key aspect of delivery, ensuring that the correct product or service is delivered to the customer as expected.

Question 4

Buyers expect products to have a high ________,which is the degree to which all the produced units are identical and meet the promised specifications.

Accepted Answer

Conformance quality refers to the degree to which all produced units meet the promised specifications and are identical in terms of their performance. Buyers expect products to have high levels of conformance quality so that they can trust that the product they receive will function as expected, and will be consistent with the quality of other units produced. Durability refers to the product's ability to withstand wear and tear over time, while reliability refers to the product's ability to perform consistently without breaking down. Form refers to the product's appearance and design, while performance quality refers to the product's ability to perform its intended function. While these factors are important to buyers, conformance quality is specifically related to consistency and adherence to specifications.

Question 5

The main point in segmenting products into different classes is that companies should recognize that these items ________ in the potential for being priced higher or advertised more as ways to increase sales,margins,or both.

Accepted Answer

The main purpose of segmenting products into different classes is to recognize that these items differ in their potential for being priced higher or advertised more as a way to increase sales, margins, or both. This means that different products have different characteristics, target markets, and pricing strategies, and companies need to identify these differences to maximize their profitability and market share. Therefore, option A is the best choice as it reflects the main idea of product segmentation.

Question 6

Improved handling or storage,better packaging,and improved transportation and forward logistics are methods for reducing ________.

Accepted Answer

The methods mentioned - improved handling or storage, better packaging, and improved transportation and forward logistics - are all ways to reduce controllable returns, which refers to returns that are a result of factors under the control of the company, such as product defects or a failure to meet customer expectations.

Question 7

In increasingly fast-paced markets,price and technology are not enough.________ is the factor that will often give a company its competitive edge and is defined as the totality of features that affect how a product looks,feels,and functions in terms of customer requirements.

Accepted Answer

In the given context, the factor that can give a company a competitive edge based on the overall look, feel, and functionality of the product is the design. While services, performance, reliability, and style are important factors, design plays a crucial role in capturing customer attention and creating a positive lasting impression. Therefore, option E, design, is the best choice.

Question 8

Ideal ________ would exist if users could fix the product themselves with little cost in money or time.

Accepted Answer

Repairability refers to the ease with which a product can be fixed and the cost associated with repairs. If users can fix the product themselves with little cost in money or time, then it is highly repairable, which is an important attribute of an ideal product.

Question 9

A company can classify its products into four types that yield different gross margins,depending upon sales volume and promotional costs.The four classifications include all EXCEPT ________.

Accepted Answer

Shopping goods are not typically classified based on gross margins related to sales volume and promotional costs. The other options (core product, staples, specialties, and convenience items) are more aligned with product classifications based on these financial metrics.

Question 10

A(n)________ is defined as a distinct unit within a brand or product line distinguishable by size,price,appearance,or some other attribute.

Accepted Answer

A stockkeeping unit, or SKU, is a distinct unit within a brand or product line that is distinguishable by size, price, appearance, or some other attribute. SKUs are used to track inventory levels and sales, and can be used to analyze consumer behavior and preferences. UPC codes (B) are used to identify individual products and not to differentiate between product variations. Stock unit (C) and product type (D) are not terms commonly used in marketing to describe a distinct unit within a product line.

Question 11

In offering a product line,companies normally develop a ________ and modules that can be added to meet different customer requirements.

Accepted Answer

Companies develop a basic platform, which is a foundation or core structure for their product line, and then add modules, features, or variations that can be customized to meet different customer requirements. This allows for flexibility and scalability in the product offerings.

Question 12

A ________ is the set of all products and items a particular seller offers for sale.

Accepted Answer

A product mix is the complete set of products and items offered by a seller. Product line refers to a group of products within the product mix that are closely related and targeted at a similar market. A family of products and product system are not commonly used terms in marketing. Product class refers to a group of products that share similar characteristics, but not necessarily offered by the same seller.

Question 13

________ refers to data,information systems,and advice services that the seller offers to their buyers.

Accepted Answer

Customer consulting refers to the data, information systems, and advice services that a seller offers to their buyers in order to help them make more informed purchasing decisions and get the most out of the products or services they buy. This can include everything from providing product demos and tutorials to offering customized recommendations and insights based on the customer's specific needs and goals. By investing in customer consulting, sellers can build stronger, more loyal relationships with their customers, differentiate themselves from competitors, and ultimately drive long-term growth and success.

Question 14

________ describes the service program for helping customers keep purchased products in good working order.

Accepted Answer

Maintenance and repair refers to the service program that helps customers keep purchased products in good working order.

Question 15

Differentiating on ________ is important for companies with complex products and becomes an especially good selling point when targeting technology novices.

Accepted Answer

Differentiating on ease of installation is important for companies with complex products as it can be a major concern for technology novices who may feel intimidated by the installation process. Making it easier for them can be a strong selling point.

Question 16

________ describes the product's look and feel to the buyer; it has an advantage of creating distinctiveness that is difficult to copy.

Accepted Answer

The answer of ________ describes the product's look and feel...

Question 17

When the physical product cannot be easily differentiated,the key to competitive success may lie in adding valued services and improving their quality.The main service differentiators are ordering ease,delivery,installation,________,customer consulting,maintenance,and repair.

Accepted Answer

Customer training is a valuable service differentiator that can help customers get the most out of their products and improve their experience with the brand. By providing high-quality training, companies can position themselves as experts in their field and build stronger relationships with customers.

Question 18

A group of products within a product class that are closely related because they perform a similar function,are sold to the same customer groups,are marketed through the same outlets or channels,or fall within given price ranges is known as a ________.

Accepted Answer

A group of products within a product class that are closely related because they perform a similar function, are sold to the same customer groups, are marketed through the same outlets or channels, or fall within given price ranges is known as a product line.

Question 19

________ refers to training the customer's employees to use the vendor's equipment properly and efficiently.

Accepted Answer

Customer training involves educating the customer's employees on how to use the vendor's equipment properly and efficiently.

Question 20

The ________ of a product mix refers to how many variants are offered of each product in the line.

Accepted Answer

The depth of a product mix refers to how many variants are offered of each product in the line. The width refers to how many different product lines a company offers, the length refers to how many products are in a product line, and consistency refers to how closely related the products in a line are to each other. Height is not a term used to describe a product mix.

Quiz 12: Setting Product Strategy