Setting Product Strategy

Chapter 12: Setting Product Strategy

GENERAL CONCEPT QUESTIONS

Multiple Choice

1. Marketing planning begins with the formulation of an offering to ________ target customers’ needs or wants. a. exceed b. meet c. capture d. compete with e. comprehend
Answer: b Page: 372 Level of difficulty: Easy

2. The customer will judge the offering by three basis elements: ________, services mix and quality, and price. a. performance b. salespeople c. price d. product features and quality e. none of the above
Answer: d Page: 372 Level of difficulty: Easy

3. The components of the market offering include all of the following EXCEPT ________. a. product feature b. product quality c. reputation of firm d. services mix and quality e. value-based pricing
Answer: c Page: 372 Level of difficulty: Easy

4. In planning its market offering, the marketer needs to address five product levels. These levels include all of the following EXCEPT ________. a. potential product b. augmented product c. core benefit d. basic product e. product usage/purpose
Answer: e Page: 372 Level of difficulty: Medium

5. The five product levels constitute a ________. At each level more customer value is added. a. customer augmented product b. customer consumption system c. customer value hierarchy d. customer perceived value e. customer hierarchy
Answer: c Page: 372 :Level of difficulty: Medium

6. The way the user performs the tasks of getting and using products and related services is the user’s total ________. a. consumption system b. consumable system c. consistent use system d. augmented system e. none of the above
Answer: a Page 372 Level of difficulty: Medium

7. Marketers have traditionally classified products on the basis of characteristics: ________, tangibility, and use. a.