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2306 Unit 4

QuestionAnswer
What is mass distribution? Selling to as many customers in the market as you can
Which is NOT a step for selecting distribution channels? Hiring employees
What is a competitive advantage? An advantage over competitors’ gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices.
What are examples of positioning strategies? Product attributes, Benefits, Usage occasion
What is a question asked in Product positioning? What does the customer want from the product/service? What needs does it satisfy?
_______provide value to producers because they often have expertise in certain areas that producers do not have middlemen
Which of the following are key channel tasks? marketing, packaging, financing
Which of the following is a channel function? risk taking
What is a question you ask about your business to determine your USP? What is unique about your brand v. your competitor’s?
What is something you should do when determining the location of your business? Consider traffic and accessibility
What is a factor that should influence the choice of business location? Legal constraints
Produces must evaluate intermediaries performance against such standards as: All of the above
Which is a law that governs channel management? FTC
Whats an example of a grey market? All of the above
Which is a Factor that affects Product/Service Management? Customer needs and wants
What are Benefits of Successful Product/Service Management New customers
Product/service management is a Marketing function
What is a proposal or offer suggested for acceptance? Proposition
What is it when a start-up needs to hire employees, and then access to a reliable pool of staff with relevant skills is important? Businesses that are labor-intensive often look to locate in areas of traditionally low wages. Labor
What clearly sets you apart from your competition positioning you the more logical choice. Unique
What is a product mix? idea or image of a specific product
Which of the following is a product feature? Product characteristics that will satisfy the customer’s need
What is a product item? A specific model, brand, or size of a product within a product line
Which of the following is positioning? Creating an image in the customer’s mind
On step to follow to meet your objectives and achieve your goals Develop an overall goal
Which of the following is Benefits of Successful Product/Service Management Improved sales and profits
When considering the customers' needs and wants, the business should consider factors such as: Convenience
When a business determines which services to offer its customers, it should consider: The nature of the product
What are customized services? Are services that are developed to meet individual customer's needs and wants
What is a brand? The idea or image of a specific product or service that consumers connect with, by identifying the name, logo, slogan, or design of the company who owns the idea or image.
What is branding? idea or image is marketed so its recognizable by more and more people, and identified with a certain service or product when there are many other companies offering the same service or product and the name, symbol, or design used to identify your product
What is the box, container, or wrapper in which the product is placed? Packaging
What are product lines? Product lines are groups of similar products offered by a company.
Identify reasons that a business would offer a narrow product mix. Simplicity
How many dimensions are in a mix companies? 4
What is the definition of features? Meet the needs of the target manager
Describe a characteristic that describe of effective objective. Less it’s more.
Name two of the benefit of successful product/service management Improve sales and profit, and Less exposure to financial risk.
What are services? Are intangible activities performed by other people in exchange for payment along, along with its associated benefits.
Which of the following is a type of positioning strategy? AGAINST COMPETITOR
Which of the following affects a product's positioning? PLACE
What is positioning? HOW YOUR TARGET MARKET DEFINES YOU IN RELATION TO YOUR COMPETITORS
Which of the following is a factor that can affect the choice of channel of distribution? Nature of product
What type of distribution is used to sell to as many customers in the market as you can? Mass distribution
Limited distribution can primarily create what? Exclusivity
Which is NOT a factor that affects the choice of channel distribution? Competitors
Created by: EddieS
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