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ba 370 (marketing) > chapter 6 (unit 2) > Flashcards

chapter 6 (unit 2) Flashcards

1
Q

QUIZ: Which of the following is NOT included in the product attribute levels?
* Add-on attributes
* Core benefit
* Necessary attributes
* Expected attributes

A
  • Necessary attributes
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2
Q

QUIZ: The basic attributes that are necessary to deliver the benefits are called?
* Expected attributes
* Core benefits
* Add-on attributes
* Both expected attributes and core benefits

A
  • Expected attributes
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3
Q

QUIZ: The chapter discussed a few specific subtypes of convenience products. Which of the following is considered a subtype of convenience product?
* Impulse product
* Consumer packaged good (CPG)
* Staple product
* All of these

A
  • All of these
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4
Q

QUIZ: True or False: A product life cycle describes the typical pattern that an
unsuccessful new product takes, from development to the end of its
life.

A

false

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5
Q

QUIZ: are easily explained and quickly adopted by consumers.
* Low-learning products
* High-learning products
* Benefits
* Convenience products

A
  • Low-learning products
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6
Q

QUIZ: True or False: A key component of a product - especially in consumer goods - is the product packaging.

A

true

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7
Q

QUIZ: What kind of packaging holds a number of individual units to form a wholesale unit?
* Tertiary packaging
* Secondary packaging
* Primary packaging
* None of these

A
  • Secondary packaging
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8
Q

QUIZ: In the __ stage, product sales have leveled off and profits are beginning to decline.
* Decline
* Product development
* Maturity
* Growth

A
  • Maturity
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9
Q

QUIZ: Which type of good is consumed quickly and often?
* Impulse product
* Emergency product
* Staple product
* Consumer packaged good

A
  • Consumer packaged good
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10
Q

QUIZ: __ products have a short life cycle that is cyclical.
* Fad
* Fashion
* High-learning
* Low-learning

A
  • Fashion
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11
Q

product attributes

A

The characteristics by which product are identified and differentiated

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12
Q

levels of attributes:

A

in a circle

Inner:
core benefits
expected attributes
add-on attributes
Outer:

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13
Q

core benefits

A

the main benefit a consumer gets from a product

EX: convenient communication

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14
Q

expected attributes

A

the basic attributes necessary for delivering benefits or that have become expected

EX: hd filming and good phone reception

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15
Q

add-on attributes

A

unexpected extra attributes

EX: color of phone and large storage for pictures

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16
Q

four product categories

A

convenience
shopping
speciality
unsought

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17
Q

convenience products

A

purchased frequently, widely available, priced affordably

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18
Q

shopping products

A

consumers spend more time thinking about and purchasing a shopping product

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19
Q

speciality products

A

have unique attributes

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20
Q

unsought products

A

products that the consumers have no awareness of until an external cue

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21
Q

durable products

A

These products last a long time and are not consumed quickly

22
Q

non-durable products

A

Only valuable for a short period of time; they are consumed quickly or lose value quickly

23
Q

staple products

A

Basic items that most people need; they usually are widely available

24
Q

consumer packaged good (CPG)

A

Consumed quickly and often; most food items at the grocery store would qualify

25
Q

impluse products

A

Low cost and purchased with little thought – or on impulse

26
Q

emergency product

A

Purchased during an immediate need or emergency

EX: . For example, imagine that you are competing at a sporting event in hot weather. You realize that you have left all the water and food at home. It suddenly becomes very important that you have sufficient hydration. You notice that the concession stand is selling water, but it’s $3 a bottle.
You are willing to pay more for items

27
Q

product life cycle (PLC)

A

The typical pattern that a successful new product takes, from development to the end of its life

28
Q

(PLC) product class

A

A group of products that are generally considered as substitutes for one another
EX: automobiles

29
Q

(PLC) product form

A

Smaller segment of the product class
It refers to the different types of products or variations within the product class
EX: pickup trucks

30
Q

(PLC) product brand

A

The specific product offered by a company
EX: Toyota Tundra pickup truck

31
Q

most profits and sales occur

A

during growth and maturity

breakeven is at the beginning of growth

32
Q

product life cycle stage: 1. product development

A

The product is still being developed and tested
During this product development stage, it’s important for a marketer to do any preliminary marketing research to determine customer needs

33
Q

product life cycle stage: 2. introduction

A

The product is first offered for sale commercially
Marketing should focus on increasing brand awareness by informing and educating consumers about the product
The company begins selling the product and begins recovering investment costs. For a successful product, the sales are sufficient to recover the investment costs and reach a break-even point (the point where total revenue and expenses are equal). There is little market competition at this stage.

34
Q

product life cycle stage: 3. growth

A

Here sales increase and profits rise
The marketing strategy here is to communicate to consumers why that they should buy your product
This relates back to the concept of positioning: At this stage, consumers already know about a product, but they also have new options from which to choose.

35
Q

product life cycle stage: 4. maturity

A

Product sales have leveled off and profits are beginning to decrease
The marketing strategy here shifts from gaining market share to maintaining it and the promotion focuses on reminding customers about the product
Companies with products that aren’t as competitive or profitable are beginning to leave the market. At this stage, many companies have now developed a full product line to appeal to consumers.
Any brand loyalty that has been built can help here in maintaining product sales.
The company can also look to extend the life cycle in this stage

36
Q

product life cycle stage: 5. decline

A

In the decline stage, profits are dropping off dramatically and companies are exiting the market
No further money is invested into product development or advertising

37
Q

extending the product life cycle: market modification

A

Increase efforts for more frequent use in current market
Find new uses for current market
Find new users
modyfing the product itself

38
Q

extending the product life cycle: product modification

A

Modifying the product itself: the company will add new product features or even slightly change the size of the product or packaging

39
Q

decline: high-learning product

A

Takes longer to explain to the public so the product is understood

40
Q

decline: low-learning product

A

Easily explained and quickly adopted by consumers

41
Q

decline: fashion

A

A short life cycle curve that is cyclical

42
Q

decline: fad

A

Experiences fast growth and and a sharp decline

43
Q

functions of packaging

A

To communicate the brand and its benefits
To protect the product from damage or leakage
To present any government-required warning or information labels

44
Q

levels of packaging: primary

A

Holds one single unit of a product

usually seen on store shelves

45
Q

levels of packaging: secondary

A

Holds a number of individual units to form a wholesale unit

seen in retail stores (box of canned soup, open it up and put individual cans on shelves)

46
Q

levels of packaging: tertiary

A

Designed to carry a number of wholesale units and ship everything

company may shup several of its product lines on one large pallet to a retail store

47
Q

unboxing defined and its experience

A

definition: The act of opening the package of a newly purchased product, removing the product, and looking through all of the features or items that came with the product

experience:
An unboxing experience is a way for sellers to differentiate and brand products and to connect with customers
It can create a wow factor, which helps bring positive word-of-mouth advertising
Especially useful for online sales
40 percent of shoppers say they would be somewhat more likely or much more likely to purchase again if they ordered a package online and it came in a gift-like or premium package.”

48
Q

different stages of the product life cycle call for..

A

Different marketing strategies

49
Q

different products or services may cause..

A

Variations to the standard product life cycle

50
Q

following trends with packaging and labeling can cause

A

A significant benefit and increase in future purchases

ba 370 (marketing) (16 decks)

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