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Mid-term Marketing

QuestionAnswer
Why does a company need to to know what stage of the product life cycle its product are in? To adapt its marketing strategies
What is a technologically advancement method that allows businesses to produce products that are a specified for a very few customers? Mass Customization
When a company uses its product wrapping to promote the preservation of an endangered animal species, it is engaging in an ethical practice called? Cause Packaging
Which activity is addressed in the product/service management function? Eliminating products that are slow sellers
Why is the quality level of a product an important product/service management decision? It reflects the image of the business
Why should a business continue to monitor an established product? To make changes in order to extend a products life cycle
Five years after a new product has been introduced sales begin to level off because customers are purchasing the competitor's brand. What strategy would be most appropriate to use in this situating? Modify the product to renew customer interest
A business is behaving unethically if its products label contain? Misleading information
What is one way businesses use computer technology to obtain information to improve their product/service mix? Tracking visitors to their web sites
Why is the quality level of a product an important product/service management decision? It reflects the image of the business
When a business publicly pledges to provide all of its customers with quick, courteous advice, what is it doing? Making a brand promise
Teri purchased a new car and expects the entertainment system to work smoothly. Which warranty is Teri expecting to be fulfilled? Implied
When products are graded by nongovernmental agencies, the grading is Voluntary
What will probably happen to a business if it continuously fails to deliver on its brand promise? Loose credibility
A customer buys a CD player and receives a printed warranty card stating the action the company will take if the CD player does not work properly. This is an example of a(n)_________ warranty. Express
One way a company can reinforce its image is by Training its employees
One way of reinforcing the company's image through employee performance is by making sure employees have Through knowledge of the products
What is the purpose of warranties and guarantees? To protect the producer and the seller
A business's brand promise is what the business intends to Provide the customer
Why do many professional organizations develop standards for their members to follow? To promote product safety
A drawback of brands as compared to unbranded products is that they usually Must be sold at higher prices
Which of the following is a reason that a business would make changes to its products? To keep up with changing consumer preferences
Why would a business use a broad product mix? To promote one-stop shopping
A business that says it tries harder because its products are not number one, is using product positioning to Compete
In what stage of brand loyalty do people become aware of the brand? Recognition
Brand or trade names are used primarily to identify a Product
Company XYZ sells condensed soups and promotes them by saying "Great Price, Great Taste". Company XYZ is positioning its product according to what strategy? Price and Quality
Why do companies use brands for their products? To differentiate their products
A company advertises that its products are durable lightweight, and come in a variety of colors. What strategy is the company using to position its products? Features and benefits
A company that makes ink pens claims that no other pen on the market uses a type of ink that changes color when exposed to light. The company is positioning its product according to what strategy? Unique characteristics
Created by: Sylar
 

 



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