Ch 12 Setting Product Strategy Sample Questions

2,103 views

Published on

Published in: Education, Business
0 Comments
4 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
2,103
On SlideShare
0
From Embeds
0
Number of Embeds
23
Actions
Shares
0
Downloads
0
Comments
0
Likes
4
Embeds 0
No embeds

No notes for slide

Ch 12 Setting Product Strategy Sample Questions

  1. 1. TOP 10 Learning Questions for Setting Product Strategy #28 Ivy Villamor April 14, 2011 A Downloadable Template For use in the Marketing Management Class of Prof. Remigio Joseph De Ungria
  2. 2. 1. It is the a classification of product based on use and shopping habits of customers? <ul><li>Durability and Tangibility </li></ul><ul><li>Industrial Goods </li></ul><ul><li>Consumer Goods </li></ul><ul><li>Homo/Heterogeneous Goods </li></ul><ul><li>None of the above </li></ul>
  3. 3. Concept 4: Market Survival Mix of Different Product Classifications – Use (Consumer Goods) <ul><li>Consumer Goods for end users’ consumption on the basis of shopping habits. </li></ul>http://www.slideshare.net/ivyvillamor Convenience Shopping Specialty Unsought
  4. 4. 1. It is the a classification of product based on use and shopping habits of customers? <ul><li>Durability and Tangibility </li></ul><ul><li>Industrial Goods </li></ul><ul><li>Consumer Goods </li></ul><ul><li>Homo/Heterogeneous Goods </li></ul><ul><li>None of the above </li></ul>
  5. 5. 2. Which of the items below is a basic component of an attractive market offering to customers? <ul><li>Product line Up-Market Stretch </li></ul><ul><li>Services Mixes & Quality </li></ul><ul><li>Core benefit </li></ul><ul><li>Percentage contribution to Sales and Profits </li></ul><ul><li>All of the above </li></ul>
  6. 6. <ul><li>Value-based prices </li></ul>Product Features & Quality Services Mix & Quality <ul><li>Customers always judge market offering on three basic elements </li></ul>Concept 1: WOW Customer by Satisfying the 3 Components of Market Offering… Attractiveness of the Market Offering
  7. 7. 2. Which of the items below is a basic component of an attractive market offering to customers? <ul><li>Product line Up-Market Stretch </li></ul><ul><li>Services Mixes & Quality </li></ul><ul><li>Core benefit </li></ul><ul><li>Percentage contribution to Sales and Profits </li></ul><ul><li>All of the above </li></ul>
  8. 8. 3. Which of the following statements is true about product levels? <ul><li>Basic product is the service or benefit customer is really buying </li></ul><ul><li>Potential product has attributes that exceed customer expectation </li></ul><ul><li>Core benefit encompasses all possible future augmentation and transformation. </li></ul><ul><li>Augmented benefits soon become expected benefits where brand positioning and competition takes place as observed in developed countries. </li></ul><ul><li>None of the above </li></ul>
  9. 9. Concept 2: WOW Customer by Planning thru Value Hierarchy http://www.slideshare.net/ivyvillamor
  10. 10. Concept 2: WOW Customer by Planning thru Value Hierarchy <ul><li>Service or benefit the customer is really buying. </li></ul><ul><li>HOTEL : “rest and sleep” </li></ul>http://www.slideshare.net/ivyvillamor
  11. 11. Concept 2: WOW Customer by Planning thru Value Hierarchy <ul><li>HOTEL : “rest and sleep” </li></ul><ul><li>Turn the core benefit to basic product </li></ul><ul><li>HOTEL : room must have bed, bathroom, towels, desk, dresser, closet </li></ul>http://www.slideshare.net/ivyvillamor
  12. 12. Concept 2: WOW Customer by Planning thru Value Hierarchy <ul><li>HOTEL : “rest and sleep” </li></ul><ul><li>Turn the core benefit to basic product </li></ul><ul><li>HOTEL : room must have bed, bathroom, towels, desk, dresser, closet </li></ul>
  13. 13. Concept 2: WOW Customer by Planning thru Value Hierarchy <ul><li>Set of attributes and conditions buyers normally expect when they purchase the product </li></ul><ul><li>HOTEL : clean bed, fresh towels, working lamps, relative degree of quiet. </li></ul><ul><li>HOTEL : “rest and sleep” </li></ul><ul><li>HOTEL : bed, bathroom, towels, desk, dresser, closet </li></ul>http://www.slideshare.net/ivyvillamor
  14. 14. Concept 2: WOW Customer by Planning thru Value Hierarchy <ul><li>Set of attributes and conditions buyers normally expect when they purchase the product </li></ul><ul><li>HOTEL : clean bed, fresh towels, working lamps, relative degree of quiet. </li></ul><ul><li>HOTEL : “rest and sleep” </li></ul><ul><li>HOTEL : bed, bathroom, towels, desk, dresser, closet </li></ul>http://www.slideshare.net/ivyvillamor
  15. 15. Concept 2: WOW Customer by Planning thru Value Hierarchy <ul><li>HOTEL : clean, fresh, quiet </li></ul><ul><li>HOTEL : “rest and sleep” </li></ul><ul><li>HOTEL : bed, bathroom, towels, desk, dresser, closet </li></ul><ul><li>attributes that exceed customer expectation </li></ul><ul><li>HOTEL : cables, Wi-Fi </li></ul>http://www.slideshare.net/ivyvillamor
  16. 16. Concept 2: WOW Customer by Planning thru Value Hierarchy <ul><li>HOTEL : clean, fresh, quiet </li></ul><ul><li>HOTEL : “rest and sleep” </li></ul><ul><li>HOTEL : bed, bathroom, towels, desk, dresser, closet </li></ul><ul><li>attributes that exceed customer expectation </li></ul><ul><li>HOTEL : cables, Wi-Fi </li></ul>http://www.slideshare.net/ivyvillamor
  17. 17. Concept 2: WOW Customer by Planning thru Value Hierarchy <ul><li>HOTEL : clean, fresh, quiet </li></ul><ul><li>HOTEL : “rest and sleep” </li></ul><ul><li>HOTEL : bed, bathroom, towels, desk, dresser, closet </li></ul><ul><li>attributes that exceed customer expectation </li></ul><ul><li>HOTEL : cables, Wi-Fi </li></ul>Augmented benefits soon become Expected benefits. In developed countries, brand positioning and competition take place at this level. http://www.slideshare.net/ivyvillamor
  18. 18. Concept 2: WOW Customer by Planning thru Value Hierarchy <ul><li>HOTEL : clean, fresh, quiet </li></ul><ul><li>HOTEL : “rest and sleep” </li></ul><ul><li>HOTEL : bed, bathroom, towels, desk, dresser, closet </li></ul><ul><li>HOTEL : cables, wifi </li></ul>http://www.slideshare.net/ivyvillamor
  19. 19. Concept 2: WOW Customer by Planning thru Value Hierarchy <ul><li>HOTEL : cables, wifi </li></ul><ul><li>Encompass future augmentation, search for new ways to satisfy customer and distinguish offering </li></ul><ul><li>HOTEL : own butler service </li></ul><ul><li>HOTEL : “rest and sleep” </li></ul><ul><li>HOTEL : bed, bathroom, towels, desk, dresser, closet </li></ul><ul><li>HOTEL : clean, fresh, quiet </li></ul>http://www.slideshare.net/ivyvillamor
  20. 20. Concept 2: WOW Customer by Planning thru Value Hierarchy <ul><li>HOTEL : cables, wifi </li></ul><ul><li>Encompass future augmentation, search for new ways to satisfy customer and distinguish offering </li></ul><ul><li>HOTEL : own butler service </li></ul><ul><li>HOTEL : “rest and sleep” </li></ul><ul><li>HOTEL : bed, bathroom, towels, desk, dresser, closet </li></ul><ul><li>HOTEL : clean, fresh, quiet </li></ul>http://www.slideshare.net/ivyvillamor
  21. 21. Concept 2: WOW Customer by Planning thru Value Hierarchy <ul><li>HOTEL : cables, wifi </li></ul><ul><li>HOTEL : butler service </li></ul><ul><li>HOTEL : “rest and sleep” </li></ul><ul><li>HOTEL : bed, bathroom, towels, desk, dresser, closet </li></ul><ul><li>HOTEL : clean, fresh, quiet </li></ul>http://www.slideshare.net/ivyvillamor
  22. 22. 3. Which of the following statements is true about product levels? <ul><li>Basic product is the service or benefit customer is really buying </li></ul><ul><li>Potential product has attributes that exceed customer expectation </li></ul><ul><li>Core benefit encompasses all possible future augmentation and transformation. </li></ul><ul><li>Augmented benefits soon become expected benefits where brand positioning and competition takes place as observed in developed countries. </li></ul><ul><li>None of the above </li></ul>
  23. 23. 4. Which of the following statements is false about industrial goods? <ul><li>Industrial goods usually enters conversion process and transformation to finished products. </li></ul><ul><li>Material and parts are long lasting and used in developing and managing finished product. </li></ul><ul><li>Supplies/business services are short term goods or services that facilitates developing or managing finished product. </li></ul><ul><li>All of the above </li></ul><ul><li>None of the above </li></ul>
  24. 24. Concept 5: Market Survival Mix of Different Product Classifications – Use (Industrial Goods) <ul><li>Industrial Goods for industry’s use which usually used in conversion or needs conversion of consumer goods </li></ul>http://www.slideshare.net/ivyvillamor
  25. 25. Concept 5: Market Survival Mix of Different Product Classifications – Use (Industrial Goods) microchips Which enters the manufacturer’s product completely fabric http://www.slideshare.net/ivyvillamor Materials and Parts
  26. 26. Concept 5: Market Survival Mix of Different Product Classifications – Use (Industrial Goods) trucks Long lasting and used in developing or managing the finished product microchips fabric http://www.slideshare.net/ivyvillamor Materials and Parts Capital Items
  27. 27. Concept 5: Market Survival Mix of Different Product Classifications – Use (Industrial Goods) trucks Supplies / Business services – short term goods or services that facilitate developing or managing finished product microchips fabric paints paper & pencil http://www.slideshare.net/ivyvillamor Materials and Parts Capital Items Supplies / Business services
  28. 28. 4. Which of the following statements is false about industrial goods? <ul><li>Industrial goods usually enters conversion process and transformation to finished products. </li></ul><ul><li>Material and parts are long lasting and used in developing and managing finished product. </li></ul><ul><li>Supplies/business services are short term goods or services that facilitates developing or managing finished product. </li></ul><ul><li>All of the above </li></ul><ul><li>None of the above </li></ul>
  29. 29. 5. This classification of goods usually survive many uses which also entails high personal selling & guarantees but gives higher margin. <ul><li>Non durable goods </li></ul><ul><li>Services </li></ul><ul><li>Durable goods </li></ul><ul><li>Staple goods </li></ul><ul><li>None of the above </li></ul>
  30. 30. Concept 3: Market Survival Mix of Different Product Classifications – Durability/Tangibility Normally consumed in 1 or few uses <ul><li>Available in many locations </li></ul><ul><li>Charge small markup, </li></ul><ul><li>Advertise heavily for trial and build preference </li></ul>http://www.slideshare.net/ivyvillamor Nondurable goods Durable goods Services
  31. 31. Concept 3: Market Survival Mix of Different Product Classifications – Durability/Tangibility <ul><li>Normally survive many uses </li></ul><ul><ul><li>personal selling & service, margin, guarantees </li></ul></ul>Nondurable goods Durable goods Services
  32. 32. Concept 3: Market Survival Mix of Different Product Classifications – Durability/Tangibility <ul><li>QC </li></ul><ul><li>Supplier credibility and adaptability </li></ul>Intangible, inseparable, variable, and perishable Nondurable goods Durable goods Services
  33. 33. Concept 3: Market Survival Mix of Different Product Classifications – Durability/Tangibility http://www.slideshare.net/ivyvillamor Nondurable goods Durable goods Services
  34. 34. 5. This classification of goods usually survive many uses which also entails high personal selling & guarantees but gives higher margin. <ul><li>Non durable goods </li></ul><ul><li>Services </li></ul><ul><li>Durable goods </li></ul><ul><li>Staple goods </li></ul><ul><li>None of the above </li></ul>
  35. 35. 6. Which of the following does not fall under “Service Differentiation? <ul><li>Ordering ease </li></ul><ul><li>Conformance </li></ul><ul><li>Installation </li></ul><ul><li>Returns </li></ul><ul><li>All of the above </li></ul>
  36. 36. <ul><li>Ordering ease : call PLDT hotline </li></ul><ul><li>Delivery : 1 day installation </li></ul><ul><li>Installation : free installation </li></ul><ul><li>Customer training : upon installation </li></ul><ul><li>Customer consulting : thru 24/7 hotline and Customer Service </li></ul><ul><li>Maintenance & repair: thru 24/7 hotline and Customer Service </li></ul><ul><li>Returns : warranty coverage, returnable for defects </li></ul>Concept 10: Service Differentiation http://www.slideshare.net/ivyvillamor
  37. 37. <ul><li>Product form : family house </li></ul><ul><li>Features : 5 bedrooms, 2 t&b, kitchen, lanai, port etc </li></ul><ul><li>Customization : elderly/environmental friendly </li></ul><ul><li>Performance : fully furnished </li></ul><ul><li>Conformance : conformed with building and fire standards </li></ul><ul><li>Durability : constructed by triple A home builder </li></ul><ul><li>Reliability : first hand clean documents </li></ul><ul><li>Repairability : free repairs for 3 years </li></ul><ul><li>Style : bungalow, duplex, town house, single detached </li></ul>Concept 9: Product Differentiation
  38. 38. 6. Which of the following does not fall under “Service Differentiation? <ul><li>Ordering ease </li></ul><ul><li>Conformance </li></ul><ul><li>Installation </li></ul><ul><li>Returns </li></ul><ul><li>All of the above </li></ul>
  39. 39. 7. Which of the following is false about Packaging? <ul><li>It is the customer’s 1 st encounter with the product which could turn buyer on or off. </li></ul><ul><li>It is designing and producing container for a product. </li></ul><ul><li>Convey descriptive and persuasive information is a packaging objective. </li></ul><ul><li>All of the above </li></ul><ul><li>None of the above </li></ul>
  40. 40. <ul><li>Packaging – designing and producing container for a product </li></ul><ul><li>Physical products needs packaging and labelling </li></ul><ul><li>Well designed packages build brand equity and drive sales. </li></ul><ul><li>Packaging is customer’s 1 st encounter which </li></ul><ul><li>could turn buyer on or off </li></ul>Concept 8: Pack, Label, Sold Out! http://www.slideshare.net/ivyvillamor
  41. 41. <ul><li>Packaging Objectives </li></ul><ul><ul><li>Identify the brand </li></ul></ul>Concept 8: Pack, Label, Sold Out! http://www.slideshare.net/ivyvillamor
  42. 42. <ul><li>Packaging Objectives </li></ul><ul><ul><li>Identify the brand </li></ul></ul><ul><ul><li>Convey descriptive and persuasive information </li></ul></ul>Concept 8: Pack, Label, Sold Out! http://www.slideshare.net/ivyvillamor
  43. 43. <ul><li>Packaging Objectives </li></ul><ul><ul><li>Identify the brand </li></ul></ul><ul><ul><li>Convey descriptive and persuasive information </li></ul></ul><ul><ul><li>Facilitate product transportation and protection </li></ul></ul><ul><ul><li>Assist at-home storage </li></ul></ul><ul><ul><li>Aid product consumption </li></ul></ul>Concept 8: Pack, Label, Sold Out! Comes in sealed handly, glass and plastic bottles
  44. 44. 7. Which of the following is false about Packaging? <ul><li>It is the customer’s 1 st encounter with the product which could turn buyer on or off. </li></ul><ul><li>It is designing and producing container for a product. </li></ul><ul><li>Convey descriptive and persuasive information is a packaging objective. </li></ul><ul><li>All of the above </li></ul><ul><li>None of the above </li></ul>
  45. 45. 8. Product Line Analysis allows companies classify products into 4 types that yields different gross margin. Which of the following is not true? <ul><li>In analyzing product line, marketer should know sales and profits of each item to know what to build, maintain, harvest, and divest. </li></ul><ul><li>Staples items give lower sales volume and no promotion. </li></ul><ul><li>Convenience items sells in high volume but less promotion. </li></ul><ul><li>Specialties might be highly promoted by give lower sales volume. </li></ul><ul><li>All of the above. </li></ul><ul><li>None of the above </li></ul>
  46. 46. Concept 7: Increase Sales % thru Product Line Analysis http://www.slideshare.net/ivyvillamor
  47. 47. Concept 7: Increase Sales % thru Product Line Analysis Core Product Specialties Staples Convenience Items <ul><li>Classify products into 4 types that yield </li></ul><ul><li>different gross margins, depending on sales volume and promotion. </li></ul><ul><li>Recognize the these items differ in potential </li></ul><ul><li>– higher priced or more advertised, as way </li></ul><ul><li> to increase profit/margin or both </li></ul>
  48. 48. Concept 7: Increase Sales % thru Product Line Analysis Core Product <ul><li>Laptops computers </li></ul><ul><ul><li>heavily promoted but with low margins </li></ul></ul><ul><ul><li>Viewed as undifferentiated commodities </li></ul></ul>http://www.slideshare.net/ivyvillamor
  49. 49. Concept 7: Increase Sales % thru Product Line Analysis Staples <ul><li>Lower sales volume and no promotion. </li></ul><ul><li>Somewhat Higher Margins </li></ul><ul><ul><li>Faster CPU (RAM) </li></ul></ul><ul><ul><li>Bigger memories (gigabytes) </li></ul></ul>http://www.slideshare.net/ivyvillamor
  50. 50. Concept 7: Increase Sales % thru Product Line Analysis Specialties <ul><li>Lower sales volume but highly promoted </li></ul><ul><ul><li>Digital moviemaking equipment </li></ul></ul><ul><li>Might generate income from service </li></ul><ul><ul><li>Personal delivery, installation, on-site training etc </li></ul></ul>http://www.slideshare.net/ivyvillamor
  51. 51. Concept 7: Increase Sales % thru Product Line Analysis Convenience Items <ul><li>High sales volume but less promoted </li></ul><ul><li>Higher margins </li></ul>http://www.slideshare.net/ivyvillamor
  52. 52. 8. Product Line Analysis allows companies classify products into 4 types that yields different gross margin. Which of the following is not true? <ul><li>In analyzing product line, marketer should know sales and profits of each item to know what to build, maintain, harvest, and divest. </li></ul><ul><li>Staples items give lower sales volume and no promotion </li></ul><ul><li>Convenience items sells in high volume but less promotion </li></ul><ul><li>Specialties might be highly promoted by give lower sales volume </li></ul><ul><li>All of the above </li></ul><ul><li>None of the above </li></ul>
  53. 53. 9. ___ is a distinct unit within a brand or product line distinguishable by size, price, appearance, or some other attribute. <ul><li>Need family </li></ul><ul><li>Product family </li></ul><ul><li>Product line </li></ul><ul><li>Product type </li></ul><ul><li>Item </li></ul><ul><li>None of the above </li></ul>
  54. 54. Concept 6: Product Hierarchy Leads you to Specific Desired Product
  55. 55. Concept 6: Product Hierarchy Leads you to Specific Desired Product http://www.slideshare.net/ivyvillamor Hierarchy Sample Need family Product family Product class Product line Product type Item (Brand/Item)
  56. 56. Concept 6: Product Hierarchy Leads you to Specific Desired Product http://www.slideshare.net/ivyvillamor Hierarchy Sample Need family   Personal Care Product family Product class Product line Product type Item (Brand/Item)
  57. 57. Concept 6: Product Hierarchy Leads you to Specific Desired Product http://www.slideshare.net/ivyvillamor Hierarchy Sample Need family   Personal Care Product family   Cosmetics, skin creams, shampoo, conditioner, soap, etc Product class Product line Product type Item (Brand/Item)
  58. 58. Concept 6: Product Hierarchy Leads you to Specific Desired Product http://www.slideshare.net/ivyvillamor Hierarchy Sample Need family   Personal Care Product family   Cosmetics, skin creams, shampoo, conditioner, soap, etc Product class   Hair Cleaning Agent Product line Product type Item (Brand/Item)
  59. 59. Concept 6: Product Hierarchy Leads you to Specific Desired Product http://www.slideshare.net/ivyvillamor Hierarchy Sample Need family   Personal Care Product family   Cosmetics, skin creams, shampoo, conditioner, soap, etc Product class   Hair Cleaning Agent Product line   Shampoo Product type Item (Brand/Item)
  60. 60. Concept 6: Product Hierarchy Leads you to Specific Desired Product http://www.slideshare.net/ivyvillamor Hierarchy Sample Need family   Personal Care Product family   Cosmetics, skin creams, shampoo, conditioner, soap, etc Product class   Hair Cleaning Agent Product line   Shampoo Product type   Hair Fall Control Shampoo Item (Brand/Item)
  61. 61. Concept 6: Product Hierarchy Leads you to Specific Desired Product http://www.slideshare.net/ivyvillamor Hierarchy Sample Need family   Personal Care Product family   Cosmetics, skin creams, shampoo, conditioner, soap, etc Product class   Hair Cleaning Agent Product line   Shampoo Product type   Hair Fall Control Shampoo Item (Brand/Item) Pantene Hair Fall Solution bottle
  62. 62. 9. ___ is a distinct unit within a brand or product line distinguishable by size, price, appearance, or some other attribute. <ul><li>Need family </li></ul><ul><li>Product family </li></ul><ul><li>Product line </li></ul><ul><li>Product type </li></ul><ul><li>Item </li></ul><ul><li>None of the above </li></ul>
  63. 63. 10. Physical products vary in their potential differentiation. Which of the following is not true? <ul><li>Customer value vs. company cost should be noted on what feature should be added to a product for differentiation. </li></ul><ul><li>One of the product differentiator is durability which measures the product’s expected operating life. </li></ul><ul><li>Installation is a product differentiator which makes product operational in its planned location. </li></ul><ul><li>Repairability is a product differentiator which measures ease of fixing a product when it malfunctions or fails. </li></ul><ul><li>None of the above </li></ul>
  64. 64. <ul><li>Product form : family house </li></ul><ul><li>Features : 5 bedrooms, 2 t&b, kitchen, lanai, port etc </li></ul><ul><li>Customization : elderly/environmental friendly </li></ul><ul><li>Performance : fully furnished </li></ul><ul><li>Conformance : conformed with building and fire standards </li></ul><ul><li>Durability : constructed by triple A home builder </li></ul><ul><li>Reliability : first hand clean documents </li></ul><ul><li>Repairability : free repairs for 3 years </li></ul><ul><li>Style : bungalow, duplex, town house, single detached </li></ul>Concept 9: Product Differentiation
  65. 65. <ul><li>Ordering ease : call PLDT hotline </li></ul><ul><li>Delivery : 1 day installation </li></ul><ul><li>Installation : free installation </li></ul><ul><li>Customer training : upon installation </li></ul><ul><li>Customer consulting : thru 24/7 hotline and Customer Service </li></ul><ul><li>Maintenance & repair: thru 24/7 hotline and Customer Service </li></ul><ul><li>Returns : warranty coverage, returnable for defects </li></ul>Concept 10: Service Differentiation http://www.slideshare.net/ivyvillamor
  66. 66. <ul><li>Ordering ease : call PLDT hotline </li></ul><ul><li>Delivery : 1 day installation </li></ul><ul><li>Installation : free installation </li></ul><ul><li>Customer training : upon installation </li></ul><ul><li>Customer consulting : thru 24/7 hotline and Customer Service </li></ul><ul><li>Maintenance & repair: thru 24/7 hotline and Customer Service </li></ul><ul><li>Returns : warranty coverage, returnable for defects </li></ul>Concept 10: Service Differentiation http://www.slideshare.net/ivyvillamor
  67. 67. 10. Physical products vary in their potential differentiation. Which of the following is not true? <ul><li>Customer value vs. company cost should be noted on what feature should be added to a product for differentiation. </li></ul><ul><li>One of the product differentiator is durability which measures the product’s expected operating life. </li></ul><ul><li>Installation is a product differentiator which makes product operational in its planned location. </li></ul><ul><li>Repairability is a product differentiator which measures ease of fixing a product when it malfunctions or fails. </li></ul><ul><li>None of the above </li></ul>
  68. 68. TOP 10 Learning Questions for Setting Product Strategy #28 Ivy Villamor April 14, 2011 A Downloadable Template For use in the Marketing Management Class of Prof. Remigio Joseph De Ungria

×