1.Define "product layers." Give examples for each layer.
2.What are the stages of the product life cycle? How do marketers change their strategy as the product moves from one stage to the next?
1 of 15
One of the major advantages of publicity is that
consumers often view it as more credible than advertising.
it gives marketers the maximum possible control over the message.
it targets the intended audience more accurately than other promotional tools.
it has the power to stimulate an immediate desire to buy the product.
2 of 15
Changing the marketing mix or finding new uses for a product can often extend the period of time a product remains profitable during its life cycle
3 of 15
The brand name, features, and packaging of a product are considered part of the actual product
4 of 15
When Pillsbury reached an agreement with M&Ms to include the candy in one of its ready-to-bake cookie dough products, the two companies were using a strategy known as cobranding
5 of 15
Product differentiation attempts to create real or perceived differences among competitors' products in the minds of consumers
6 of 15
People see the Nike Swoosh on athletic shoes as well as on an assortment of athletic apparel for almost every sport. Lately, the company has begun branching out into several entirely new product categories such as MP3 players. This indicates that Nike has decided to pursue a strategy of
7 of 15
In the introduction stage of the product life cycle, marketing efforts focus on
building customer awareness of the product.
reinforcing brand positioning.
protecting market share from competitors.
8 of 15
_____ is the paid integration of branded products in movies and on television.
9 of 15
In the growth stage of the product life cycle, competition
is virtually nonexistent because competitors have had enough time to introduce their own products.
will begin as competing firms introduce their own versions of the product.
has already become well-established, with many weaker firms already leaving the market.
will spur major price cuts that dramatically cut into profits.
10 of 15
MBI's sales strategy is based on having its sales representatives take the time to develop lasting relationships with their customers. The focus is on obtaining a thorough understanding of the needs of each customer so that the representatives can provide practical ways to meet these needs with MBI's products and services. This is an example of a form of promotion known as
11 of 15
The more difficult it is for consumers to grasp what a product does and how it works, the slower that product's _____ tends to be.
movement through the product life cycle
rate of diffusion
rate of market separability
12 of 15
Using integrated marketing communication involves creating different product messages for different media in order to adjust for the unique strengths and weaknesses of each medium
13 of 15
BOGO—Buy One, Get One free—at Payless Shoes is a great example of what kind of promotion?
14 of 15
The sales process follows six key stages, but before the process begins, salespeople must have
an understanding of the product, industry, and competition.
completed sales training in the use of effective prospecting techniques.
an understanding of sales channel marketing tactics.
an understanding of missionary, personal, and consultative selling practices.
15 of 15
Dale owns a heavy-haul trucking company specializing in the transportation of dimensional lumber products and other building materials. His company is typically cheaper and faster than his competitors. He's looking for the right positioning statement. Which might be best?
"Breaking the speed limit for you"
"Dale's trucking provides better service at lower cost."
"Faster service, lower cost, no job too big"
"Haulin' planks, baby"