1. Some firms might delay the launch of their products until after the competitor has borne the cost of educating the market. Such an entry is called ________ entry.
compensating
balancing
late
strategic pay off
2. Which of the following is the best example of a new-to-the-world product?
Tata Motors, an Indian automobile company, acquires Jaguar to extend its business
Kids-Med, a company that produces childcare products, launches a non-contact thermometer
Pestorica, a publishing company, decides to launch a new sports magazine
Walmart, the retail giant, opens new stores in an underdeveloped African country
3. Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he or she expects the shoes to cover his or her feet and allow him or her to walk unobstructed. This is an example of what level in the consumer-value hierarchy?
Potential product
Basic product
Pure tangible product
Augmented product
4. Which of the following is the level at which the product's primary characteristics operate?
Conformance quality
Performance quality
Durability
Design
5. 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.
customer training
technology intensity
adaptability
ease of use
6. Which of the following will most help service providers overcome the limitation of intangibility of services when positioning itself?
Cultivating non-peak demand
Working with larger groups
Sharing services
Using brand symbols
7. Product launches include many tasks and often take longer than expected. To coordinate effectively, a planning technique such as ______ can be used.
key path scheduling
task scheduling planner
critical path scheduling
master scheduling
8. The five product levels constitute a ________. At each level more customer value is added.
customer-value hierarchy
demand chain
value grid
business model
9. Which of the following is most closely related with the organic growth of an organization?
Developing new products from within
Increasing the operational profitability
Increasing productivity of employees
Acquiring a product or service brand
10. Most new-product activities are devoted to
introducing backward integration
changing the target markets
improving existing products
changing the existing market dynamics
11. A dance school in the Bronx teaches professional hip-hop and salsa. It is experiencing an increase in student admissions, which is leading to substantial improvement in profits. The school is going through the ________ phase of its life cycle.
maturity
growth
introduction
decline
12. Services high in ________ are those services that have characteristics the buyer normally finds hard to evaluate even after consumption.
trial qualities
credence qualities
experience qualities
search qualities
13. ________ is the ability of a company to prepare on a large-scale basis individually designed products, services, programs, and communications.
Backward compatibility
Interoperability
Mass customization
Reverse engineering
14. Which of the following steps will help service firms to increase their quality control?
Standardizing the service performance process
Providing complementary services to customers
Cultivating non-peak demand
Adopting differential pricing
15. Product-line analysis provides information for two key decision areas: product-line length and ________.
product-class composition
product need family
popular pricing
product mix-pricing
16. Poga International, a multinational beverage corporation, identifies that one of its competitors is launching an apple flavored drink. The company decides to launch an apple flavor brand along with its competitor. What timing strategy is used here?
Exchange entry
Late entry
First entry
Parallel entry
17. It was sunny when Jenny went to class, but by the time class was over it was raining heavily, so Jenny stopped by the student store to buy an umbrella before she walked back to her dorm. In this case, the umbrella is an example of a(n) ________.
emergency good
heterogeneous shopping good
impulse good
specialty good
18. Happy Home Products produces detergents, toothpaste, bar soap, disposable diapers, and paper products. This company has a product ________ of five lines.
type
length
class
width
19. One of the ways to change the course of a brand is to modify the product. Under product modification, ________ adds size, weight, materials, supplements, and accessories that expand the product's performance, versatility, safety, or convenience.
technological improvement
quality improvement
style improvement
feature improvement
20. Campbell Soups is a newly established company that specializes in preparing healthy but tasty food for children under the age of 5. It is incurring huge production costs, nonexistent profits, and slow sales growth. The company is in the ________ phase of its life cycle.
maturity
growth
introduction
decline
21. Using the ________ level of the product hierarchy to market its soups, Campbell Soups feature the company name first, then the soup variety on their packaging.
product-line
product-class
product-type
product-family