1. TOP 10 Learning Questions for Chapter 12 (Setting Product Strategy) Farlah Angela S. Sevilla May 22, 2010

2. 1. Product System is ________ the set of all products and items a particular seller offers for sale. also called product assortment. is a group of diverse but related items that function in a compatible manner. when a company lengthen its product line beyond its current range.

3. 2. Performance Quality should supplement basic function is customized to an individual is the level at which product’s characteristics operate is the probability that the product will not malfunction or fail within a specified period of time is the product’s expected operating life under natural or stressful condition

4. 3. Services can be differentiated through the following except: Customer consulting B. Customer training C. Product form D. Ordering ease E. Delivery

5. 4. A product mix has the following except: width length depth variety consistency

6. 5. Which of the following is True? Durable goods are intangible goods, that survive many uses. Durable goods require more personal selling and low mark- up. Non- Durable goods are tangible and consumed in one or few uses. Appropriate strategy for non- durable goods is to charge high mark- up and advertise heavily. Services are tangible, inseparable, variable and perishable.

7. 6. Which of the following is False? To be branded, products must be differentiated. Packaging is an element of product strategy. An effective package must attract attention, describe the product’s features, create consumer confidence, and make favorable impression. Packaging must identify the brand. Packaging must convey descriptive and non- persuasive information.

8. 7. Alcon brand IOLs (intraocular lenses) with three price levels is an example of: Product- line pricing Optional- feature pricing Product- bundling pricing Captive- product pricing Two- part pricing

9. 8. A company selling Printers using PVC card and ink is an example of: product- line pricing captive- product pricing optional feature pricing product- bundling pricing by- product pricing

10. 9. Life insurance, smoke detectors are examples of : convenience goods shopping goods specialty goods unsought goods emergency goods

11. 10. Sun cellular P350 postpaid plan is an example of: Product- bundling pricing By- product pricing Two- part pricing Optional – feature pricing Captive- product pricing

12. TOP 10 Learning Questions for Chapter 12 (Setting Product Strategy) Farlah Angela S. Sevilla May 22, 2010

13. 1. Product System is ________ the set of all products and items a particular seller offers for sale. also called product assortment. is a group of diverse but related items that function in a compatible manner. when a company lengthen its product line beyond its current range.

14. 2. Performance Quality should supplement basic function is customized to an individual is the level at which product’s characteristics operate is the probability that the product will not malfunction or fail within a specified period of time is the product’s expected operating life under natural or stressful condition

15. 3. Services can be differentiated through the following except: Customer consulting B. Customer training C. Product form D. Ordering ease E. Delivery

16. 4. A product mix has the following except: width length depth variety consistency

17. 5. Which of the following is True? Durable goods are intangible goods, that survive many uses. Durable goods require more personal selling and low mark- up. Non- Durable goods are tangible and consumed in one or few uses. Appropriate strategy for non- durable goods is to charge high mark- up and advertise heavily. Services are tangible, inseparable, variable and perishable.

18. 6. Which of the following is False? To be branded, products must be differentiated. Packaging is an element of product strategy. An effective package must attract attention, describe the product’s features, create consumer confidence, and make favorable impression. Packaging must identify the brand. Packaging must convey descriptive and non- persuasive information.

19. 7. Alcon brand IOLs (intraocular lenses) with three price levels is an example of: Product- line pricing Optional- feature pricing Product- bundling pricing Captive- product pricing Two- part pricing

20. 8. A company selling Printers using PVC card and ink is an example of: product- line pricing captive- product pricing optional feature pricing product- bundling pricing by- product pricing

21. 9. Life insurance, smoke detectors are examples of : convenience goods shopping goods specialty goods unsought goods emergency goods

22. 10. Sun cellular P350 postpaid plan is an example of: Product- bundling pricing By- product pricing Two- part pricing Optional – feature pricing Captive- product pricing

23. TOP 10 Learning Questions for Chapter 12 (Setting Product Strategy) Farlah Angela S. Sevilla May 22, 2010