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2306 Unit 4 Block 4
| Question | Answer |
|---|---|
| Which is not a factor that affects product/service management? | Company location |
| Which one of these are key channel tasks? | contract |
| Reputation, experience, nomenclature, logo pricing, new advertising, etc… | Promise |
| What is the first step in demonstrating your company’s goals/objectives? | Set broad goals to be accomplished. Begin by determining the reason(s) you want to start a business. Reasons people start a business fall within four general business goals: service, social, profit, or growth. |
| What is Product/service management? | Is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities |
| What are factors That Can Minimize Costs in Developing a Product Mix | Technology allows consumers to order and/or design products online and has it shipped directly to their home, minimizing inventory and labor |
| What word phrase describes this definition? “two or more competitors conspire to adjust prices or methods of price computation at a certain level, then such conduct per se is illegal.” | price fixing |
| _________ is created through the sale or resale of branded products through unauthorized dealers or distributors | grey market |
| Which one is not one of the 4P’s that can affect positioning? | Planning |
| What is not something that should determine which service to offer the customer? | Where the customer lives |
| What is a product? | Goods or services that are currently being sold |
| What is an advantage of trading up product-mix strategy? | Adding higher priced items to a product line will attract the higher income and may help increase the image and sales of the lower priced items |
| Which is NOT a question that wouldn’t affect positioning for Product ? | What is the value of the product or service to the buyer? |
| What is you first step when determining specific services to provide for the customers? | Using an idea-generation technique develop a list of possible services to provide to your customers |
| What is a benefit of successful product/service management? | Obtaining new customers. |
| Which is not a product mix dimension? | Product perimeter. |
| What is Positioning? | how your target market see’s you in relation to your competitors |
| Customized services are... | services that are developed to meet individual customer needs and wants. |
| What is the idea or image of a specific product/service that consumers connect with? | Brand |
| Which is not one of the basic steps to follow to meet your objectives and achieve your goals? | Stand out |
| How do you identify a Brand? | By looking at the name, logo, slogan, or design |
| What is the Difference between a Goal and an Objective? | Goals differ from objectives in that they encompass a broader vision of what you wish to accomplish, whereas objectives operate as a means to an end. |
| What is the most important consideration in choosing a distribution channel? | The market segment the producer wants to reach |
| Which channel method is most common for small, standardized parts? | Channel B |
| Which of the following is a benefit of Successful Product/Service Management | New customers |
| Describe disadvantages of positioning product-mix strategies | Images of a product are difficult to change once they are established and very expensive |
| What is a Competitive Advantage | An advantage over your competitor by offering customers greater value |
| What is Customized services | services that are developed to meet individual customer's needs and wants |
| What is a Brand? | idea or image of a specific product or service that customers connect with by identifying the name logo slogan or design of the company who owns the idea or image |
| For Positioning you do all but? | Survey |
| USP stands for…? | Unique Selling Proposition |
| The business may be dependent on supplies of a particular raw material, so costs will be lower if the business is… | Located near the source of supply |
| Wholesaling intermediaries sell to…? | Retailers, Industrial Users, and Other Wholesalers |
| Limited distribution can create | Exclusivity |
| A product whose sales and profitability are declining is a…? | Weak product |
| Which of the following is NOT a reason that a business would offer a narrow product mix…? | Quantity |
| Which is not a product mix dimension? | Product Height |
| Your success is directly related to how well you acknowledge what your customers really want AND how diligently you apply your company’s ____, ____, ____, and ____ | Strengths, values, passions visions |
| Name four channel functions | Information, funding, physical distribution, contact |
| Which are not one the purposes of a Unique Selling Proposition? | Buying |
| Which of the following represent a monopolie? | refusal to deal |
| When a business determines which services to offer its customers, it should consider: | The nature of the product |
Created by:
EddieS
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