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Avoid competition: critical when introducing a brand into a market in which the companyalready has one or more brandsoProduct Attributes or FeaturesoPriceoQuality LeveloBenefit•____________________________________oA brand’s market share and profitability may be strengthened by product repositioning ofexisting productsRequires changes in ________________________ and usually changes in productfeaturesRepositioning can be accomplished by changing any aspect of the marketing mixOrganizing to Develop and Manage Products •Product Manager: responsible for a product, a product line, or several distinct products that make up agroup•____________________________: responsible for a single brand•____________________________: responsible for managing the marketing activities that serve aparticular group of customers____________________________: a cross-functional group that creates entirely new products that maybe aimed at new markets93•____________________________________oElimanating a product from the product mix when it no longer satisfies a sufficient number of customers
Ch 12 Practice Exam Questions: 1. Coca-Cola has expanded to Diet Coke, Cherry Coke, and Caffeine-free Coke, to name a few. These are examples of a)product modifications.b)functional modifications.c)aesthetic modifications.d)line extensions.e)product lining.2. A brand manager in a multiproduct firm would be responsible for a)performance of a specific brand.b)all brands within a product line.c)branding the products of the firm.d)all products in the brand-line group.e)all brands made by the firm.3. A disadvantage of aesthetic modifications is that:a)they concentrate only on the look of a product rather than on how it feels.b)they tend to maximize the amount of illegal product counterfeiting.c)they are determined subjectively by customers.d)they do not help firms gain sizable market share.e)they do not help firms in differentiating their products.4. _____ is the first phase of the new-product development process.a)Business analysisb)Idea generationc)Screeningd)Concept testinge)Test marketing5. _____ is a low-cost procedure that allows a company to determine customers’ initial reactions to a product idea before it invests considerable resources in research and development.a)Concept testingb)Business analysisc)Commercializationd)Phase-oute)Test marketing94
Services Marketing The Growth and Importance of Services •All products are intangible or feature intangible elements to some extent, but services are the mostintangible.•Service: an intangible product that involves _____________________________________________________________________________________________________________________________________ oA service is not the same as ______________________________•____________________________________: a practice whereby customer contact jobs are outsourcedinto workers’ homes•Services are of increasing importance to U.S. economyo_____________________________________________________________________________•Long-term economic growth and lifestyle changes have encouraged service sector expansion•Business services have grown as the business environment becomes more complex•One way to view service is from a _________________________________ with production elements,such as actors, audience, a setting, and a performanceCharacteristics of Services 1._______________________: a service is not physical and cannot be perceived by the sensesa.The Tangibility Continuum(Fig 13.1)Chapter 13 Learning Objectives •