_______ are major purchases and are usually bought directly from the producer with the typical sale preceded by long negotiation periods.
a. Raw materials
b. Materials and parts
c. Business services
d. Capital goods
e. Installations
Answer: e. Installations
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Setting Product Strategy
- Most products are established at one of four performance levels: low, average, high or superior. For example, mountain bikes come in a variety of sizes and physical attributes. When a consumer purchases a mountain bike costing $1,000 she/he expects the bike to perform to specifications and to have a high _________ meeting the promised specifications.
- The seller of ________ goods carry a wide assortment to satisfy individual tastes and must have well-trained salespeople to inform and advise customers. Examples include automobile dealers, furniture stores, and insurance services.
- How a consumer shops for organic foods and how they use and dispose of the product is part of the consumers _________ that is important for marketers to consider.
- Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he/she expects the shoes to cover his/her feet and allow them to walk unobstructed. This is an example of what level in the consumer value hierarchy?
- Buyers expect products to have a high ________, which is the degree to which all the produced units are identical and meet the promised specifications.
- In today's rapidly changing product markets, modernization of the product line is continuous. Companies plan improvements to encourage customer migration to ________.
- Guarantees are most effective in two situations. The first is when the company or products are not well known and the second is when the product's quality is ________ to competition.
- Many sellers offer either general or specific guarantees. Guarantees reduce the buyer's ________ risk.
- ______ are formal statements of expected product performance by the manufacturer.
- The ________ passed by Congress in 1967, sets mandatory labeling requirements on packaging.
- A label performs several functions for a product. These include all of the following EXCEPT ________.
- After packaging is designed, it must be tested. These tests include all of the following EXCEPT ________.
- To achieve the marketing objectives for the brand and satisfy the desires of consumers, the ________ and functional components of packaging must be chosen correctly.
- Various factors have contributed to the growing use of packaging as a marketing tool and include all of the following EXCEPT ________.
- Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and ________.
- Materials and parts are goods that enter the manufacturer's product completely. They fall into two classes: ________, and natural products.
- Industrial-goods can be classified in terms of how they enter the production process and their relative costliness. We can distinguish three groups of industrial goods: ________, capital items, and suppliers and business services.
- Examples of products such as insurance, cemetery plots, and smoke detectors, are examples of ________ that are products that the consumer does not know about or does not normally think of buying.
- ______ are similar in quality but different enough in price to justify shopping comparisons.
- The consumer usually purchases ________ frequently, immediately, and with a minimum of effort.
- The vast array of goods consumers buy can be classified on the basis of shopping habits. We can distinguish among convenience, ________, specialty, and unsought goods.
- When companies search for new ways to satisfy customers and distinguish their offering from others, they look at the ________ product, which encompasses all the possible augmentations and transformations of the product.
- Marketers have traditionally classified products on the basis of characteristics: ________, tangibility, and use.
- The way the user performs the tasks of getting and using products and related services is the user's total ________.