Marketing Ch. 9

A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’ needs and is received in exchange for money or something else of value is referred to as a(n)
Product
Among consumer products, personal selling is especially important for
costly durable goods
Services are
intangible activities or benefits that an organization provides to satisfy consumers’ needs in exchange for money or something else of value.
Consumer products are classified based on the: (1) attributes used in making the purchase decision; (2) frequency of purchase; and (3)
effort the consumer spends on the decision.
Inexpensive products with widespread availability are considered to be
convenience products.
Which of the following is the best example of a specialty product?
a Ferretti yacht
As consumers demand for Ford cars increases, Ford may increase its demand for paint spraying equipment, which in an example of __________ for the latter.
derived demand
The camera lens module for Apple’s iPhone is manufacturers by Largan Precision and its touch panel comes from TPK. These are considered __________ for Apple’s product.
components
Teachers, optometrists, and social workers are service workers that could be classified as
professionals.
Equipment-based services do not have the marketing concerns of inconsistency because
employees do not have direct contact when providing services to consumers.
A student who is inadequately helped by someone in career services and whose phone calls to the librarian remain unanswered may start to have a negative perception of her school, despite the fact that she has learned a lot in her classes. This is a function of the __________ aspect of services.
inseparability
Idle production capacity can be reduced by
cutting a part-time worker’s hours during slow periods.
The willingness to help customers and provide prompt service is referred to as
responsiveness.
Annie’s Organic Shells & White Cheddar, an organic macaroni and cheese, is an example of a
product item.
Which of the following products at the time of their introduction was the best example of a continuous innovation?
Blu-Ray player
Ideally, before a new product is developed, a firm should have a precise protocol, which is a statement that identifies: (1) what the product will be and do to satisfy consumers; (2) specific customers’ needs, wants, and preferences; and (3) __________.
a well-defined target market
There are eight marketing reasons why a new product can fail. One of these is __________.
having an insignificant point of difference
There are six organizational problems that can cause new-product disasters. One of them is __________.
avoiding the “NIH problem”
Which stage in the new-product process results in the definition of the new product protocol and identifies the role it might serve in the firm’s business portfolio?
new-product strategy development
Amanda is the owner of a company called Piquant (which means having a pleasantly sharp taste or appetizing flavor). She was looking for a new product to go with her company’s line of food condiments when a customer suggested creating a spicy mayonnaise. This is an example of
open innovation.