1.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-type

product-family

product-line

product-class

2.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?

First entry

Exchange entry

Parallel entry

Late entry

3.________ is the ability of a company to prepare on a large-scale basis individually designed products, services, programs, and communications.

Backward compatibility

Mass customization

Reverse engineering

Interoperability

4.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.

ease of use

customer training

adaptability

technology intensity

5.Most new-product activities are devoted to

changing the existing market dynamics

improving existing products

introducing backward integration

changing the target markets

6.Which of the following is most closely related with the organic growth of an organization?

Developing new products from within

Acquiring a product or service brand

Increasing productivity of employees

Increasing the operational profitability

7.Which of the following steps will help service firms to increase their quality control?

Providing complementary services to customers

Adopting differential pricing

Cultivating non-peak demand

Standardizing the service performance process

8.Services high in ________ are those services that have characteristics the buyer normally finds hard to evaluate even after consumption.

search qualities

experience qualities

trial qualities

credence qualities

9.Which of the following is the best example of a new-to-the-world product?

Kids-Med, a company that produces childcare products, launches a non-contact thermometer

Tata Motors, an Indian automobile company, acquires Jaguar to extend its business

Walmart, the retail giant, opens new stores in an underdeveloped African country

Pestorica, a publishing company, decides to launch a new sports magazine

10.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

feature improvement

quality improvement

style improvement

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

introduction

growth

decline

12.Product-line analysis provides information for two key decision areas: product-line length and ________.

product need family

product mix-pricing

product-class composition

popular pricing

13.Product launches include many tasks and often take longer than expected. To coordinate effectively, a planning technique such as ______ can be used.

task scheduling planner

key path scheduling

master scheduling

critical path scheduling

14.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

strategic pay off

late

balancing

15.Which of the following will most help service providers overcome the limitation of intangibility of services when positioning itself?

Using brand symbols

Working with larger groups

Cultivating non-peak demand

Sharing services

16.Happy Home Products produces detergents, toothpaste, bar soap, disposable diapers, and paper products. This company has a product ________ of five lines.

type

class

length

width

17.Which of the following is the level at which the product's primary characteristics operate?

Durability

Design

Performance quality

Conformance quality

18.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) ________.

heterogeneous shopping good

emergency good

impulse good

specialty good

19.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.

growth

decline

introduction

maturity

20.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?

Augmented product

Basic product

Potential product

Pure tangible product

21.The five product levels constitute a ________. At each level more customer value is added.

value grid

customer-value hierarchy

business model

demand chain