Amy spends very little time to shop for bath soaps and beauty creams as she uses only the products offered by Eve’s Aura, a manufacturer of bath and beauty products. As Eve’s has a wide distribution network, its products are available in almost every retail outlet in Amy’s locality. In this scenario, the bath and beauty products from Eve’s Aura are examples of _____ products.
Which of the following is a feature of a new-product strategy?
It provides general guidelines for generating, screening, and evaluating new-product ideas.
Which of the following is a difference between people-processing and possession-processing services?
People-processing services require customers to enter the service factory, while possession-processing services typically do not require the presence of the customer in the service factory.
Which of the following is a difference between vertical conflict and horizontal conflict?
Vertical
conflict occurs between different levels in a marketing channel, while horizontal conflict occurs among channel members on the same level.
A similarity between materials requirement planning (MRP) and distribution resource planning (DRP) is that both inventory systems:
use various inputs, such as sales forecasts, available inventory, and so on, to determine what needs to be done to replenish goods at all points in the supply chai
Retailers play a role in making distribution simpler by reducing the number of transactions required by consumersto make a purchase and by making an assortment of goods available in one location. Thisis called _____.
Elsem Foods is a manufacturer of food and beverages. It manufactures several varieties of foods like potato chips, cupcakes, candies, crackers, fruit juices, and carbonated drinks. It introduced a new line of baked potato chips in different flavors. It receives its largest profit from its newly introduced line of hundred percent fruit juices that are available in different flavors, such as orange, apple, litchi, cranberry, and so on. Which of the following is a product item of Elsem Foods?
Hundred percent orange juice
Which of the following is a limitation of the revenue-oriented pricing approach?
Difficulty in determining costs
Which of the following is an example of postpurchase communication?
A hotel sends an email survey to its guests a week after their stay, asking them to comment on the quality of the service they received.
A large firm in the automotive aftermarket business wants to improve its current situation, which is characterized by excess inventory, incomplete information, high logistics costs, slow reactions to environmental change, and loss of profits at the retail level. Will supply chain management be of any help to the business?
Yes, supply chain management is designed to coordinate and integrate all the activities from raw materials to product consumption. c. No, supply chain management requires an extensive investment in time and resources to make it worthwhile. d. No, supply chain management is only applicable to distribution strategies for products being sold in
the business market.
Which of the following is true of supplier relationship management?
It supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers.
The process where all the involved areas—R&D, marketing, engineering, production, and even suppliers—work together rather than sequentially during a product’s development is called _____.
simultaneous product development
Which of the following is true of the development stage of a new-product development process?
It examines the feasibility of manufacturing a product at an acceptable cost.
The major characteristic that is used to differentiate intermediaries from one another is whether they:
take title to the products they sell.
Sustainable supply chain management primarily involves:
the integration and balancing of environmental, social, and economic thinking into all phases of the supply chain management process
A difference between informational labeling and persuasive labeling is that informational labeling:
helps a consumer make proper product selections.
Soul Tech, a consumer electronics company, has suffered substantial losses while moving products from the assembly line to the warehouse and shipping docks. Soul Tech should consider reducing the number of times an item is moved in the warehouse by installing a(n):
materials-handling system
Which of the following is true of operations-oriented pricing?
It seeks to match supply and demand by varying prices.
The purpose of test marketing is to:
Assess how well various aspects of the marketing mix fit together.
Which of the following is true of an express warranty?
It ranges from simple statements to extensive documents written in technical language.
A manufacturer's or supplier's use of an independent third party to manage an entire function of the logistics system, such as transportation, warehousing, or order processing, is called:
Which of the following is true of nontraditional channels?
They help differentiate a firm's product from the competition.
During the _____ stage of the new-product development process, production starts, inventories are built up, the product is shipped to distribution points, the sales force is trained, and advertising and promotion begin.
Business Essentials is a support group that consists mostly of young women who offer tips on budgeting and debt relief. Their goal is to help women break financial ceilings. Business Essentials is providing a(n) _____ that is helpful to women who want to be financially savvy.
Frieda was disappointed to notice that her new phone had several scratches on its screen. If she had known about the clear protective films that were available to protect the phone display from scratches, she could have avoided this problem. For Frieda, the protective films were _____.
Which of the following is true of supply chain agility?
It allows companies to adapt quickly and easily to customer needs.
A mobile phone manufacturing company is said to functionally modify one of its products if it:
releases a software update to fix the mobile phone's heating problem.
By working closely with its clients and understanding their needs, A Plus Z has improved its service encounter to a level that was not thought possible in mass retailing. Which of the eight critical business processes performed by supply chain managers does this best illustrate?
Customer service management
Hakimo Corp., a multinational corporation that specializes in audio equipment, has developed a wireless speaker that sits unobtrusively on a desktop. The tiny, yet strong, twin speakers use Bluetooth to stream music directly from a PC or MP3 player. This small wireless speaker, which is radically different from anything currently on the market, can most likely be classified as a:
discontinuous innovation.
A _____ is a business structure of interdependent organizations that reaches from the point of production to the consumer and facilitates the downstream physical movement of goods through the supply chain.
Phoenix Automated Retail Servicesspecializes in DVD rentals via automated retail kiosks. If consumers want a particular DVD, they can rent it from Phoenix instead of searching for itinvariousproduction studios. Phoenixtherefore provides _____ for both consumers and the production studios.
Steve wanted to open a day care service facility for dogs. He estimated the costs involved in providing the services desired by dog owners. After extensive deliberation, Steve decided not to proceed with the plan as the cost of providing the services was too high compared to the rates dog owners would be willing to pay. Which of the following stages of the new-product development process has Steve used to arrive at this decision?
Indigo Blue Inc. is a distributor of equipment, component parts, and supplies in the United States. It has an ownership title to all its products.These products are stocked in both national and regional warehouses to guarantee product availability and quick service to the many manufacturers who are its customers. Based on this information, Indigo Blue Inc. is an example of a(n) _____.
Red Chilly Productions, a production studio based in the United States, decides to make a major change in its distribution strategy. It withdraws contracts from its retail partners and beginsto operate its own rental store. This results in its retail partners filing several lawsuits against the company. This scenario is an example of _____.
David and Kathy like to take their young son, Chaz, to Moe's Southwestern Grill for lunch after church every Sunday. While they like to eat at Moe's at any time, Sunday is particularly good because it is “kids eat free" day at the restaurant. Until Moe's began this attractive offer, Sundays were very slow. Now it is one of the busiest days of the week for the restaurant. This strategy was a way to contend with the service characteristic of:
_____ occurs when a firm refuses to meet specific obligations or fails to change when new situations arise.
Which of the following is true of product modification?
It makes cosmetic or functional changes to existing products.
At Great Bear Nature Tours, the owners are careful to treat both guests and employees very well. In fact, most employees feel that they are treated like privileged guests at work. This is an example of:
Which of the following is true of supplementary services?
They are usually emphasized to create a competitive advantage
A difference between early majority and early adopters is that early majority are:
likely to collect more information and evaluate more brands.
Roubov Inc. is a chain of American department stores that sells clothing, furniture, home appliances, and toys.It buys its goods in large quantities directly from a manufacturer. Based on this information, Roubov Inc. most likely makes use of a(n) _____.
Which of the following is a disadvantage of using a manual, non-automated materials-handling system?
Why do most firms consider test marketing essential for new products?
The high price of failure simply prohibits the widespread introduction of new products without testing.
Premium boutique hotels encourage employees to develop strong, personal relationships with guests. Such hotels offer value-added services that are not available at traditional hotels. At which level of relationship marketing are these hotels operating?
Which of the following is a difference between individual branding and family branding?
Individual branding uses different brand names for different products, while family branding markets several different products under the same brand name.
Which of the following is true of an unsought product?
New products are categorized as unsought products until advertising and distribution increase consumer awareness of them.
Which of the following is true of product lines?
They provide economies of scale in advertising.
Which of the following is true of a specialty product?
It is marketed using selective, status-conscious advertising that maintains its exclusive image.
According to the gap model of service quality, which of the following is true of gap 1?
It results from a lack of understanding or a misrepresentation of customers' needs, wants, or desires.
Which of the following is an advantage of supply chain management to companies?
Improved customer service