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2306 Unit 4 Block 4

QuestionAnswer
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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