1 Aug 2015
1. Most new-product activities are devoted to
- introducing backward integration
- changing the target markets
- improving existing products
- changing the existing market dynamics
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
- Walmart, the retail giant, opens new stores in an underdeveloped African country
- Pestorica, a publishing company, decides to launch a new sports magazine
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3. ________ is the ability of a company to prepare on a large-scale basis individually designed products, services, programs, and communications.
- Mass customization
- Reverse engineering
- Backward compatibility
4. Which of the following will most help service providers overcome the limitation of intangibility of services when positioning itself?
- Sharing services
- Using brand symbols
- Working with larger groups
- Cultivating non-peak demand
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5. Which of the following is most closely related with the organic growth of an organization?
- Developing new products from within
- Increasing productivity of employees
- Acquiring a product or service brand
- Increasing the operational profitability
6. 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
- technology intensity
- customer training
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7. Services high in ________ are those services that have characteristics the buyer normally finds hard to evaluate even after consumption.
- credence qualities
- trial qualities
- search qualities
- experience qualities
8. Happy Home Products produces detergents, toothpaste, bar soap, disposable diapers, and paper products. This company has a product ________ of five lines.
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9. 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.
10. The five product levels constitute a ________. At each level more customer value is added.
- value grid
- demand chain
- business model
- customer-value hierarchy
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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.
12. 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
- Parallel entry
- Late entry
- First entry
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13. 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.
14. 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
- specialty good
- impulse good
15. Which of the following is the level at which the product’s primary characteristics operate?
- Conformance quality
- Performance quality
16. 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.
- feature improvement
- technological improvement
- quality improvement
- style improvement
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17. 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?
- Pure tangible product
- Potential product
- Basic product
- Augmented product
18. Product launches include many tasks and often take longer than expected. To coordinate effectively, a planning technique such as ______ can be used.
- master scheduling
- key path scheduling
- task scheduling planner
- critical path scheduling
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19. 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.
- strategic pay off
20. Which of the following steps will help service firms to increase their quality control?
- Adopting differential pricing
- Providing complementary services to customers
- Cultivating non-peak demand
- Standardizing the service performance process
21. Product-line analysis provides information for two key decision areas: product-line length and ________.
- product-class composition
- product mix-pricing
- popular pricing
- product need family
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