14 Aug 1 Some firms might delay the launch of their products until after the competitor

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 products
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 products 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-family1Some 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 off2Which 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 country3Marketers 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 product4Which of the following is the level at which the products
primary characteristics operate? Conformance quality Performance quality Durability Design5When 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 use6Which 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 symbols7Product 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 scheduling8The five product levels constitute a ________. At each level
more customer value is added. customer-value hierarchy demand chain value grid business model9Which 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 brand10Most new-product activities are devoted to introducing backward integration changing the target markets improving existing products changing the existing market dynamics11A 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 decline12Services 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 qualities13________ 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 engineering14Which 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 pricing15Product-line analysis provides information for two key
decision areas: product-line length and ________. product-class composition product need family popular pricing product mix-pricing16Poga 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 entry17It 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 good18Happy Home Products produces detergents, toothpaste, bar
soap, disposable diapers, and paper products. This company has a product
________ of five lines. type length class width19One 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 products performance, versatility,
safety, or convenience. technological improvement quality improvement style improvement feature improvement20Campbell 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 decline21Using 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

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