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2306 Unit 4
| Question | Answer |
|---|---|
| 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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