2306 Unit 4 Block 4
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Which is not a factor that affects product/service management? | Company location
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| Which one of these are key channel tasks? | contract
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| Reputation, experience, nomenclature, logo pricing, new advertising, etc… | Promise
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| 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.
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| 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
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| 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
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| 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
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| _________ is created through the sale or resale of branded products through unauthorized dealers or distributors | grey market
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| Which one is not one of the 4P’s that can affect positioning? | Planning
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| What is not something that should determine which service to offer the customer? | Where the customer lives
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| What is a product? | Goods or services that are currently being sold
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| 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
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| Which is NOT a question that wouldn’t affect positioning for Product ? | What is the value of the product or service to the buyer?
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| 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
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| What is a benefit of successful product/service management? | Obtaining new customers.
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| Which is not a product mix dimension? | Product perimeter.
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| What is Positioning? | how your target market see’s you in relation to your competitors
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| Customized services are... | services that are developed to meet individual customer needs and wants.
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| What is the idea or image of a specific product/service that consumers connect with? | Brand
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| Which is not one of the basic steps to follow to meet your objectives and achieve your goals? | Stand out
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| How do you identify a Brand? | By looking at the name, logo, slogan, or design
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| 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.
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| What is the most important consideration in choosing a distribution channel? | The market segment the producer wants to reach
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| Which channel method is most common for small, standardized parts? | Channel B
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| Which of the following is a benefit of Successful Product/Service Management | New customers
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| Describe disadvantages of positioning product-mix strategies | Images of a product are difficult to change once they are established and very expensive
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| What is a Competitive Advantage | An advantage over your competitor by offering customers greater value
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| What is Customized services | services that are developed to meet individual customer's needs and wants
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| 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
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| For Positioning you do all but? | Survey
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| USP stands for…? | Unique Selling Proposition
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| 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
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| Wholesaling intermediaries sell to…? | Retailers, Industrial Users, and Other Wholesalers
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| Limited distribution can create | Exclusivity
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| A product whose sales and profitability are declining is a…? | Weak product
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| Which of the following is NOT a reason that a business would offer a narrow product mix…? | Quantity
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| Which is not a product mix dimension? | Product Height
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| 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
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| Name four channel functions | Information, funding, physical distribution, contact
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| Which are not one the purposes of a Unique Selling Proposition? | Buying
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| Which of the following represent a monopolie? | refusal to deal
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| When a business determines which services to offer its customers, it should consider: | The nature of the product
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