MRKT 303 Chapter 10 – Flashcards
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A service mark is the exclusive right to use a brand or part of a brand
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False
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Insurance, prom dresses, engagement rings and similar items fall under the convenience product category
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False
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Services and ideas are not considered products because they are intangible
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False
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Each product item in the product mix may require a separate marketing strategy
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True
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An organization's product mix includes all the products it sells
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True
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The key distinction between consumer products and business products is their intended use
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True
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Specialty products normally require wide distribution in order to sell sufficient quantities to meet profit goals
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False
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Little Debbie, Inc. predominantly sells convenience products. Given this information, which of the following is a characteristic of Little Debbie's products?
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They require wide distribution in order to sell sufficient quantities
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Which of the following is a difference between individual branding and family branding?
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In individual branding, different brand names are used for different products, whereas in family branding, several different products are marketed under the same brand name
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Which of the following statements is true of product lines?
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They provide economies of scale in advertising
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Paulette goes to an Lowe's to purchase a refrigerator. After comparing the technical features, prices, and durability of the various brands of refrigerators available, she purchases the one that is cheaper and smaller in size than the rest. In this case, Paulette has purchased a _____
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shopping product
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Product line depth refers to the number of:
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product items in a product line
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Compared with convenience products, shopping products are
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found in fewer stores
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General Mills owns many brands in the food category including Yoplait yogurt. It markets a number of yogurts, including Dippers, Go-Gurt, Greek, 100 Calorie Greek, 100 Calorie Whips, Kids, Lactose Free, Large Size Yogurt, Light, Light with Granola, and Original. The large variety of yogurts sold by the General Mills brand is collectively an example of a _____
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product line
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Yoplait began selling only one item which the company now calls "original." General Mills has used _____ in order to as a part of its marketing strategy.
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Greenwashing
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Identify a true statement about specialty products.
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They are usually distributed to only a few outlets in a geographic area
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Compared with convenience products, shopping products are
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found in fewer stores
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A _____ occurs when a company's management decides to add products to an existing product line in order to compete more broadly in the industry.
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product line extension
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Nestor's Nesties, a confectionery company, sells a variety of dark chocolates, milk chocolates, gummies, fruit juices, biscuits, cereals, and even cheese. These products together constitute the company's _____.
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product mix
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Consumers usually buy a(n) _____ only after comparing several brands or stores on style, practicality, price, and lifestyle compatibility.
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shopping product
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Explain the importance of product offerings in creating a marketing mix.
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The product offering, the heart of an organization's marketing program, is usually the starting point in creating a marketing mix. A marketing manager cannot determine a price, design a promotion strategy, or create a distribution channel until the firm has a product to sell. Moreover, an excellent distribution channel, a persuasive promotion campaign, and a fair price have no value when the product offering is poor or inadequate. The marketing process is the same whether the product marketed is a good, a service, an idea, or some combination of these.
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Discuss the significance of product mix width and product line depth in marketing.
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Product mix width (or breadth) refers to the number of product lines an organization offers. Product line depth is the number of product items in a product line. Firms increase the width of their product mix to diversify risk. To generate sales and boost profits, firms spread risk across many product lines rather than depend on only one or two. Firms also widen their product mix to capitalize on established reputations. Firms increase the depth of their product lines to attract buyers with different preferences, to increase sales and profits by further segmenting the market, to capitalize on economies of scale in production and marketing, and to even out seasonal sales patterns
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Compare the three categories of consumer products based upon shopping behavior.
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Answers will vary. Convenience products are relatively inexpensive items that require little shopping effort. Convenience products are bought regularly, usually without significant planning. Convenience products may include candy, soft drinks, aspirin, small hardware items, dry cleaning, car wash services, and so on.Shopping products are usually more expensive than convenience products and are found in fewer stores. Consumers spend some effort comparing brands and stores. Shopping products may include washers, dryers, refrigerators, televisions, furniture, clothing, housing, choice of university, and so on.Specialty products are those exclusive items for which consumers are willing to search extensively. Consumers are extremely reluctant to accept substitutes for specialty products. Brand names and service quality are important. Fine watches, luxury cars, expensive stereo equipment, gourmet restaurants, and specialized medical services could all be considered specialty products
