Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is the ________, which addresses the question, "What is the buyer really buying?"
core customer value
________ are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.
________ is an approach in which all the company's people are involved in constantly improving the products, services, and business processes.
Total quality management
A(n) ________ is a name, term, sign, symbol, design, or a combination of these, that identifies the maker or seller of a product or service.
Product mix ________ refers to the number of versions offered of each product in the line. Colgate toothpaste comes in 16 varieties, ranging from Colgate Total to Colgate Kids Toothpastes.
A company can increase its business in four ways. Which is NOT one of these ways?
It can discontinue some of its lines.
All of the following are methods for developing a differentiated service offer, delivery, or image EXCEPT ________.
increasing the quantity of service by giving up some durability
Which of the following is NOT a desirable quality for a brand name?
The brand should almost always be a long word to get attention.
Which of the following is an advantage offered by co-branding?
A company can expand its existing brand into a category it otherwise might have difficulty entering alone.
A product is a key element in the ________. At one extreme, it may consist of pure tangible goods or at the other extreme, pure services.
Mabel Lu is planning to buy a new washing machine. She notices that they come in numerous price ranges. She wants to make sure she gets the most for her money. This product is a(n) ________ product.
Which of the following is(are) examples of product line length?
Both hamburger and cheeseburger and Coke and Diet Coke
An apparel marketer is planning to launch an existing brand name into a new product category. Which brand development strategy is being implemented?
Which of the following is the most important for product designers to consider as they develop a product?
how customers will use and benefit from the product
Which of the following is NOT a challenge presented by the product life cycle that a firm must face?
It is difficult to plot the stages as a product goes through them.
What are the two ways that a company can obtain new products?
new-product development and acquisition
Which of the following is NOT a potential reason for a new product to fail?
an underestimated market size
Which of the following is NOT a recommended method for companies to tap into their customers as sources for new-product ideas?
relying heavily on customers to know what types of technical products they need
The purpose of idea generation is to create a ________ number of ideas. The purpose of succeeding stages is to ________ that number.
large number; reduce
In the ________ stage of new-product development, products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them
Which of the following costs is most likely associated with the commercialization stage of new-product development?
building or renting a manufacturing facility
JoAnn Fabrics, Inc., has just created a new combination of colors and fabric types. The firm wants to be sure of the way consumers think about its new product. The firm is concerned with the product ________.
Which of the following is a product concept?
a thin, lightweight laptop with extended battery life appealing to students and young professionals who want access to their computer anywhere, anytime
P&G introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Foods became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. This act illustrates ________.
one of the problems associated with test marketing
Big Moose Toys is a market pioneer introducing a modern version of Bullwinkle the Moose, a character from an animated television series originally broadcast in the 50s and 60s. The company's version of Rocky the Flying Squirrel, another character from the show, targeted to baby boomers was a strong success. They need to make the new launch strategy for Bullwinkle consistent with the intended ________.