Ch12 Setting Product Strategy Go

TOP 10 Learning Questions for Setting Product Strategy 12 Adventurer Alex Go 12.16.11

1. In the 5 product levels of customer-value hierarchy, where does the service “inspection” belong? ,[object Object],[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

Customer-Value Heirarchy http://lexgo-passionforlife.blogspot.com/

Inspection is the basic product offering which provides quality/ safety as its core benefits http://lexgo-passionforlife.blogspot.com/ Levels Definition Core Benefit Service or benefit the customer is really buying Basic Product Turn the benefit to an actual product Expected Product Set of attributes and conditions buyers normally expect upon purchase Augmented Product Exceeding the customer expectations Potential Product All possible transformations the offering might undergo in the future

2. An example of durable goods is ____. ,[object Object],[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

Product classifications are essential in identifying appropriate marketing mix strategies ,[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

Durable goods are those that normally survive many uses ,[object Object],http://lexgo-passionforlife.blogspot.com/

3. It is the total features that affect how a product looks, feels, and functions in terms of customer req’ts. ,[object Object],[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

There are several ways that a product can differentiate itself from the competition ,[object Object],http://lexgo-passionforlife.blogspot.com/

Only design covers the totality of the product features ,[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/ Either specific to shape, size, look & feel, custom made Total features

4. Convenience, shopping and specialty products are examples of product categories. What is another name for this? ,[object Object],[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

The Product Hierarchy http://lexgo-passionforlife.blogspot.com/

Product class http://lexgo-passionforlife.blogspot.com/ - is a group of products within the product family recognized as having a certain functional coherence. It’s also known as product category.

5. Which of the following is true for product mix? ,[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

A product mix has certain width, length, depth and consistency. http://lexgo-passionforlife.blogspot.com/

None was correct. Right definitions are linked below. ,[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/ ,[object Object],[object Object],[object Object]

6. What type of co-branding example is Cebu Pacific Citibank Credit Card? ,[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

Co-branding is the combination of two or more brands into a joint product http://lexgo-passionforlife.blogspot.com/

Citibank & Cebu Pacific are two separate entities. Thus they are considered joint venture co-branding http://lexgo-passionforlife.blogspot.com/

7. Which of the following are not essential for product packaging? ,[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

Packaging is all activities of designing and producing the container for a product ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

Product content photo is not necessary. http://lexgo-passionforlife.blogspot.com/

8. ______ is a measure of the ease of fixing a product when it malfunctions or fails ,[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

Marketers may differentiate their product on the following: ,[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

Repairability = fixing http://lexgo-passionforlife.blogspot.com/

9. Which of the following statements are incorrect? ,[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

In the chapter 12, several topics were covered under product strategy ,[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

Letter D is considered captive product pricing ,[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

10. The leading apparel brand, Bench, recently created high end stores and hired international stars as their endorsers. What type of line stretching is this called? ,[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

Line stretching occurs when a company lengthens its product line beyond its current range. ,[object Object],[object Object],[object Object],[object Object],http://lexgo-passionforlife.blogspot.com/

Since they are targeting the high end market, Bench is doing an up-market stretch http://lexgo-passionforlife.blogspot.com/

TOP 10 Learning Questions for Setting Product Strategy 12 Adventurer Alex Go 12.16.11 http://lexgo-passionforlife.blogspot.com/

Ch12 Setting Product Strategy Go

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