chapter 8

Question 1

Chapter 8

Answer 1

Designing and Managing
Products

Question 2

3 basic elements

Answer 2

product
service
brand

Question 3

Well-differentiated products can create significant competitive advantages. Crafting a distinctive aura for a product that helps distance it from competitors can involve moves that range from impressive technological advances

Answer 3

Product Differentiation

Question 4

Attributes on the basis of which to differentiate include:

Answer 4

core functionality
features
performance quality
conformance quality
durability
reliability
form
style
customization

Question 5

To create customer value, products must deliver on their core benefit. Products that fail to deliver on their core value proposition will inevitably fail in the market.

Answer 5

Core Functionality

Question 6

Most products can be offered with varying features that supplement their basic function

Answer 6

Features

Question 7

is the level at which the product’s primary characteristics operate.

Answer 7

Performance quality

Question 8

the degree to which all produced units are identical and meet promised specifications.

Answer 8

conformance quality

Question 9

measure of the product’s expected operating life under natural or stressful conditions

Answer 9

Durability

Question 10

a measure of the probability that a product will not malfunction within a specified time period.

Answer 10

Reliability

Question 11

the size, shape, or physical structure of a
product

Answer 11

Form

Question 12

describes the product’s look and feel to the buyer and creates distinctiveness that is hard to copy.

Answer 12

Style

Question 13

Customized products and marketing enable firms to differentiate strategically by finding out exactly what a person wants—and doesn’t want—and delivering on that

Answer 13

Customization

Question 14

the totality of features that affect the way consumers perceive a product’s
look, feel, and function.

Answer 14

Design

Question 15

In our visually oriented culture, transmitting brand meaning and positioning through design is critical.
Eye-catching form, color, and graphics can help an offering separate itself from competitive products.

Answer 15

Power of Design

Question 16

is a very data-driven approach with three
phases: observation, ideation, and implementation

Answer 16

Design thinking

Question 17

encompasses all products offered by a company, including various product categories and product lines

Answer 17

product portfolio

Question 18

product portfolio has a certain width, length, depth, and consistency

Question 19

the number of different product lines the company carries.

Answer 19

width

Question 20

total number of items in the mix

Answer 20

length

Question 21

consists of the number of variants offered for each product in the line

Answer 21

depth

Question 22

product portfolio reflects how closely related the various product lines
are in end use, production requirements, distribution channels, or some other way

Answer 22

consistency

Question 23

group of related products sold by the same company

Answer 23

product line

Question 24

company lengthens its product line in two way

Answer 24

line stretching and line filling

Question 25

occurs when a company lengthens its product line beyond its current range, whether down-market, up-market, or both ways.

Answer 25

Line stretching

Question 26

by adding more items within the existing range.

Answer 26

Line Filling

Question 27

important element of product strategy

Answer 27

packaging and labeling

Question 28

includes all the activities of designing and producing the container for a product.

Answer 28

Packaging

Question 29

Several factors contribute to the growing use of packaging as a marketing tool.

Answer 29

Self-service Consumer affluence Company and brand image Innovation opportunity

Question 30

simple attached tag or an elaborately designed graphic that is an inherent part of the package

Answer 30

label

Question 31

A label performs several function

Answer 31

identifies the product or brand describe the product promote the product through attractive graphics

Question 32

ensures that if a product fails to function as promised by the company or as customers expect, the company will provide some type of compensation to the purchaser.

Answer 32

guarantee

Question 33

provide customers and the company with much the same benefits as guarantees do

Answer 33

Warranties

Question 34

usually cover the repair or replacement of the purchased item and usually do not allow the customer to return the product for a refund

Answer 34

Warranties

Question 35

Effective product guarantees and warranties should have three traits:

Answer 35

relevant, easily understood, and easy for the customer to invoke