Review Questions- Chapter 11
Quality modifications are changes that relate to a product's
dependability and durability.
Procter & Gamble makes at least eight different laundry detergents. This is most relevant to the issue of
depth of product mix.
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
design, styling, and features.
Grand Resorts Hawaii has just celebrated its first profit since opening two years ago. Grand Resorts Hawaii is most likely in the ____ stage of the product life cycle.
Growth
A group of managers has been assigned the task of developing a new product, has listed several good ideas, and is now in the process of assessing each idea to determine whether it is consistent with the firm's overall objectives and resources. The managers are at what stage of the new-product development process?
Screening
What is the primary distinction between a line extension and a product modification?
With product modifications, the original product is replaced in the product line while both the old and the new products remain in the case of line extension.
A product line is defined as
a group of closely related products that are considered a unit because of marketing, technical, or end-use considerations.
Morgan is interested in upgrading to a new sofa for her apartment. Morgan looks online to see what new models her favorite sofa brand has available and can get information on the style and color; however, she can't actually sit on the sofa to determine its comfort level. Morgan is able to evaluate the __________ modifications to the sofa, but not the __________ .
aesthetic; functional
McDonald's golden arches are a classic example of a
brand mark.
"Is the demand strong enough?" is a question that marketers ask during the ___________ phase of new-product development.
business analysis
when a product tries to capitalize on the brand equity of two separate brands, marketers are using
co-branding.
The value, measured in either marketing or financial terms, associated with a brand's strength in a market is referred to as brand
equity.
The three levels of brand loyalty from strongest to weakest are
insistence, preference, recognition.
Compared to creating and developing a brand from scratch, a firm sometimes buys a brand from another company at a premium price because outright purchase is
less expensive and less risky.
If the manufacturer of Cool Whip were to introduce an orange-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example of
line extension.
Product deletion can best be described as the process of deleting a product from the product mix when it
no longer satisfies a sufficient number of customers.
Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ______ products.
shopping
When Starbucks introduced their instant coffee brand, Via, the company only sold it in packages of three single-cup units. Starbucks primary objective for selling Via in three-unit packages rather than single-unit packages was most likely
to encourage the consumer to try the product several times