What are 5 variables of service quality ? – Tangibles (physical evidence) E.g. a tidy office and clean uniform. – Reliability (consistency of performance and dependability) – Responsiveness (the willingness and readiness of employees to provide service) E.g. a salesperson asks “May I help you?” – Assurances (the confidence communicated by the service provider) – Empathy (the service provider’s efforts to understand the customer’s needs and then individualize the service) List 4 reasons for developing a product line – Desire to grow – Enhancing the company’s position in the market – Optimal use of company resources – Exploiting the stages of the product life circle Define product mix Assortment of product lines and individual product offerings that a company sells. Marketers typically measure product mixes according to width, length, and depth. – Product mix width # of product lines the firm offers.
E.g. J&J offers over-the –counter medicines, nutritionals, skin and hair care, and oral care etc. – Product mix length # of different products a firm sells E.g. J&J carries brands like Band-Aid, Motrin, Tylenol, and Neutrogena – Product mix depth Variations in each product E.g. J&J’s Band-Aid brand bandages come in a variety of shapes and sizes. What is line extension? Development of individual offerings that appeal to different market segments while remaining closely related to the existing product line. How do marketers typically measure products mixes? What are 4 stages of the product life cycle? Define them. Progression of a product through introduction, growth, maturity, and decline stage. What is introductory stage ? First stage. To stimulate demand for the new market entry . What is growth stage ? Second stage. Start to realize substantial profits from its investment in the product. What is maturity stage ? Third stage. Industry sales level out . What is decline stage ? Final stage. A decline in total industry sales occurs. During which stage or stages are products likely to attract the most new customers? Introductory and growth stages. During which stage the company face the greatest competition? Maturity stage Company wants to extend its product life cycle . How ? By increasing frequency of use (bigger bottle, tends to be used more often and greater amount) By increasing the number of users (attract new customers) By finding new uses (more applications for its existing products) By changing package sizes, labels, or product quality Companies must make decision whether to delete a product from their line bt. late maturity and early decline stage. Chapter 11 What is brand? Name, term, sign, symbol, design, or some combination that identifies the products of one firm while differentiating them from the competition’s.
- Winter '10
- Marketing, Brand, producer