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 productâs
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 productâs 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
