Setting Product Strategy

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Chapter 12: Setting Product Strategy


Multiple Choice

1.Marketing planning begins with the formulation of an offering to ________ target customers’ needs or wants. a. exceed
b. meet
c. capture
d. compete with
e. comprehend
Answer: bPage: 372 Level of difficulty: Easy

2.The customer will judge the offering by three basis elements: ________, services mix and quality, and price. a.performance
c. price
d.product features and quality
e.none of the above
Answer: dPage: 372Level of difficulty: Easy

3.The components of the market offering include all of the following EXCEPT ________. a.product feature
b.product quality
c.reputation of firm mix and quality
e.value-based pricing
Answer: cPage: 372 Level of difficulty: Easy

4.In planning its market offering, the marketer needs to address five product levels. These levels include all of the following EXCEPT ________. a.potential product
b.augmented product
c. core benefit
d. basic product
e. product usage/purpose
Answer: e Page: 372 Level of difficulty: Medium

5.The five product levels constitute a ________. At each level more customer value is added. a.customer augmented product
b.customer consumption system
c.customer value hierarchy
d.customer perceived value
e. customer hierarchy
Answer: cPage: 372 :Level of difficulty: Medium

6.The way the user performs the tasks of getting and using products and related services is the user’s total ________. a.consumption system
b.consumable system
c. consistent use system
d.augmented system
e. none of the above
Answer: aPage 372 Level of difficulty: Medium

7.Marketers have traditionally classified products on the basis of characteristics: ________, tangibility, and use. a.customer...
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