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Marketing Management, 14e (Kotler/Keller) Chapter 12 Setting Product Strategy 1) A ________ is anything that can be offered to a market to satisfy

a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. A) function B) product ) benefit !) process ") structure Answer# B $age %ef# &'( )b*ective# 1 !ifficulty# "asy ') A customer *udges a product offering by three basic elements# product features and +uality, services mix and +uality, and ,,,,,,,,. A) performance B) utility ) tangibility !) price ") availability Answer# ! $age %ef# &'( )b*ective# 1 !ifficulty# -oderate &) .he five product levels constitute a ,,,,,,,,. At each level more customer value is added. A) product line B) business model ) customer value/hierarchy !) value grid ") demand chain Answer# $age %ef# &'0 )b*ective# 1 !ifficulty# -oderate

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5) 6hen 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. A) consumption B) expected ) potential !) augmented ") basic Answer# $age %ef# &'0 )b*ective# 1 !ifficulty# -oderate () .he way the user performs the tasks of getting and using products and related services is the user7s total ,,,,,,,,. A) consumption system B) consumable system ) consistent use system !) augmented system ") potential system Answer# A $age %ef# &'0 )b*ective# 1 !ifficulty# "asy 0) -arketers must see themselves as benefit providers. 8or example, when a shopper purchases new shoes, he9she expects the shoes to cover his9her feet and allow him9her to walk unobstructed. .his is an example of what level in the consumer/value hierarchy: A) pure tangible good B) basic product ) augmented product !) potential product ") generic product Answer# B $age %ef# &'0 )b*ective# 1 AA ;B# Analytic skills !ifficulty# -oderate

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<) 4ow a consumer shops for organic foods and how he or she uses and disposes of the product is part of the consumers7 ,,,,,,,, that is important for marketers to consider. A) value proposition B) consumption system ) value system !) +uality perception ") value chain Answer# B $age %ef# &'0 )b*ective# 1 AA ;B# Analytic skills !ifficulty# "asy =) .he sellers of ,,,,,,,, goods carry a wide assortment to satisfy individual tastes and must have well/trained salespeople to inform and advise customers. A) unsought B) specialty ) convenience !) heterogeneous shopping ") generic Answer# ! $age %ef# &'< )b*ective# 1 !ifficulty# -oderate >) -arketers have traditionally classified products on the basis of three characteristics# ,,,,,,,,, tangibility, and use. A) availability B) affordability ) aesthetics !) durability ") necessity Answer# ! $age %ef# &'< )b*ective# 1 !ifficulty# "asy

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12) 6hich of the following are tangible goods that normally survive many uses: A) generic goods B) durable goods ) core benefits !) convenience goods ") unsought goods Answer# B $age %ef# &'< )b*ective# 1 AA ;B# Analytic skills !ifficulty# "asy 11) Because ,,,,,,,, are purchased fre+uently, marketers should make them available in many locations, charge only a small markup, and advertise heavily to induce trial and build preference. A) nondurable goods B) durable goods ) services !) unsought goods ") specialty goods Answer# A $age %ef# &'< )b*ective# 1 !ifficulty# "asy 1') 6hat types of goods are purchased fre+uently, immediately, and with minimum effort by the consumers: A) specialty goods B) shopping goods ) unsought goods !) durable goods ") convenience goods Answer# " $age %ef# &'< )b*ective# 1 !ifficulty# -oderate

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1&) 3t was sunny when ?enny went to class, but by the time class was over it was raining heavily, so ?enny stopped by the student store to buy an umbrella before she walked back to her dorm. 3n this case, the umbrella is an example of a@n) ,,,,,,,,. A) impulse good B) specialty good ) homogeneous shopping good !) emergency good ") heterogeneous shopping good Answer# ! $age %ef# &'< )b*ective# 1 AA ;B# Analytic skills !ifficulty# -oderate 15) 6hat goods are similar in +uality but different enough in price to *ustify shopping comparisons: A) emergency goods B) homogeneous shopping goods ) heterogeneous shopping goods !) specialty goods ") convenience goods Answer# B $age %ef# &'< )b*ective# 1 !ifficulty# -oderate 1() $roducts 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. A) specialty goods B) unsought goods ) heterogeneous shopping goods !) homogeneous shopping goods ") convenience goods Answer# B $age %ef# &'< )b*ective# 1 !ifficulty# "asy

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10) 3ndustrial goods can be classified as ,,,,,,,,, capital items, or suppliers and business services based on their relative cost and how they enter the production process. A) service components B) sub/assemblies ) accessories !) specialty goods ") materials and parts Answer# " $age %ef# &'< )b*ective# 1 !ifficulty# "asy 1<) ,,,,,,,, are the ma*or factors influencing the selection of suppliers for natural products. A) $rice and delivery reliability B) $roduct features and customization ) $rice and customization !) !elivery reliability and product features ") ustomization and delivery reliability Answer# A $age %ef# &'= )b*ective# 1 !ifficulty# -oderate 1=) apital items are long/lasting goods that facilitate developing or managing the finished product. .hey include two groups# installations and ,,,,,,,,. A) natural products B) component materials ) operating supplies !) e+uipment ") processed materials Answer# ! $age %ef# &'= )b*ective# 1 !ifficulty# "asy 1>) .he two kinds of supplies with respect to industrial goods classification are maintenance and repair items, and ,,,,,,,,. A) installations B) operating supplies ) processed materials !) component materials ") e+uipment Answer# B $age %ef# &'= )b*ective# 1 !ifficulty# "asy
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'2) ,,,,,,,, are ma*or purchases and are usually bought directly from the producer with the typical sale preceded by long negotiation periods. A) %aw materials B) -aterials and parts ) $rocessed materials !) apital goods ") 3nstallations Answer# " $age %ef# &'= )b*ective# 1 !ifficulty# "asy '1) -ost products are established at one of four performance levels# low, average, high, or superior. 8or example, mountain bikes come in a variety of sizes and physical attributes. 6hen a consumer purchases a mountain bike costing A1,222, she9he expects the bike to perform to specifications and to have a high ,,,,,,,, meeting the promised specifications. A) features B) conformance +uality ) durability !) performance +uality ") reliability Answer# ! $age %ef# &'> )b*ective# ' AA ;B# Analytic skills !ifficulty# !ifficult '') -any products can be differentiated in terms of their ,,,,,,,,, which is its size, shape, or physical structure. A) form B) prototype ) architecture !) model ") blueprint Answer# A $age %ef# &'> )b*ective# ' !ifficulty# "asy

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'&) ,,,,,,,, is the ability of a company to prepare on a large/scale basis individually designed products, services, programs, and communications. A) -ass customization B) %everse engineering ) 3nteroperability !) Backward compatibility ") Benchmarking Answer# A $age %ef# &'> )b*ective# ' !ifficulty# -oderate '5) ,,,,,,,, is the level at which the product7s primary characteristics operate. A) !esign B) onformance +uality ) %eparability !) $erformance +uality ") !urability Answer# ! $age %ef# &'> )b*ective# ' !ifficulty# -oderate '() Buyers expect products to have high ,,,,,,,,, which is the degree to which all the produced units are identical and meet the promised specifications. A) durability B) compatibility ) conformance +uality !) form ") performance +uality Answer# $age %ef# &'> )b*ective# ' !ifficulty# -oderate '0) -ost products can be offered with varying ,,,,,,,, that can supplement its basic function. A) degrees of reliability B) conformance +ualities ) features !) forms ") designs Answer# $age %ef# &'> )b*ective# ' AA ;B# %eflective thinking !ifficulty# "asy
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'<) 3f the 8ord B. is designed to accelerate to (2 miles per hour within 12 seconds, and every 8ord B. coming off the assembly line does this, the model is said to have high ,,,,,,,,. A) reliability B) conformance +uality ) durability !) compatibility ") interoperability Answer# B $age %ef# &'>/&&2 )b*ective# ' AA ;B# Analytic skills !ifficulty# -oderate '=) ,,,,,,,, describes the product7s look and feel to the buyerC it has an advantage of creating distinctiveness that is difficult to copy. A) !esign B) ;tyle ) !urability !) onformance ") %eliability Answer# B $age %ef# &&2 )b*ective# ' !ifficulty# "asy '>) 3deal ,,,,,,,, would exist if users could fix the product themselves with little cost in money or time. A) durability B) reliability ) style !) design ") reparability Answer# " $age %ef# &&2 )b*ective# ' !ifficulty# -oderate

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&2) ________ is a measure of the probability that a product will not malfunction or fail within a specified time period. A) %eparability B) !urability ) %eliability !) ;pecialty ") ompatibility Answer# $age %ef# &&2 )b*ective# ' AA ;B# Analytic skills !ifficulty# "asy &1) 6hen the physical product cannot be easily differentiated, the key to competitive success may lie in adding valued services and improving their +uality. .he main service differentiators are ordering ease, delivery, installation, ,,,,,,,,, customer consulting, maintenance, and repair. A) technology intensity B) responsivity ) ease of use !) customer training ") adaptability Answer# ! $age %ef# &&1 )b*ective# ' !ifficulty# -oderate &') !elivery refers to how well the product or service is brought to the customer. 3t includes speed, ,,,,,,,,, and care throughout the delivery process. A) expedience B) intensity ) tangibility !) performance ") accuracy Answer# " $age %ef# &&1 )b*ective# ' !ifficulty# -oderate

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&&) ,,,,,,,, refers to educating the customer7s employees to use the vendor7s e+uipment properly and efficiently. A) ustomer training B) )pen innovation ) rowdsourcing !) o/development ") ollaborative research Answer# A $age %ef# &&1 )b*ective# ' !ifficulty# "asy &5) ,,,,,,,, refers to data, information systems, and advice services that the seller offers to their buyers. A) ;ales force relationships B) ustomer relationships ) )pen source technology !) ustomer training ") ustomer consulting Answer# " $age %ef# &&1 )b*ective# ' !ifficulty# -oderate &() !ifferentiating on ,,,,,,,, is important for companies with complex products and becomes an especially good selling point when targeting technology novices. A) delivery B) ordering ease ) ease of installation !) customer consulting ") reparability Answer# $age %ef# &&1 )b*ective# ' !ifficulty# -oderate &0) ,,,,,,,, describes the service program for helping customers keep purchased products in good working order. A) %eturns B) )rdering ease ) 3nstallation !) -aintenance and repair ") !elivery Answer# ! $age %ef# &&1 )b*ective# ' !ifficulty# -oderate
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&<) 6hich of the following actions would result in the elimination of uncontrollable returns of products in the short run: A) improved handling B) better packaging ) improved transportation !) proper storage ") cannot be eliminated Answer# " $age %ef# &&1 )b*ective# ' !ifficulty# -oderate &=) ;mith D Adams $oultry has recently upgraded its transactional model such that its customers @restaurants and hotels) can communicate with its central supply system to indicate purchase volumes, dates, and receive confirmation, through their computer terminals. .his is an example of a company differentiating itself versus competition in terms of ,,,,,,,,. A) customer relationships B) customer training ) installation !) delivery ease ") ordering ease Answer# " $age %ef# &&1 )b*ective# ' AA ;B# Analytic skills !ifficulty# !ifficult &>) %ealizing that although household products is a huge category, taking up an entire supermarket aisle or more, it is an incredibly boring one, the founders of -ethod $roducts designed a sleek, uncluttered dish soap container that also carried functional advantages, such as ease of dispensing soap and cleaning. -ethod is competing in the crowded market for household products on the basis of superior ,,,,,,,,. A) design B) durability ) conformance !) reliability ") performance +uality Answer# A $age %ef# &&' )b*ective# & AA ;B# Analytic skills !ifficulty# !ifficult

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52) 3n increasingly fast/paced markets, price and technology are not enough. ,,,,,,,, is the factor that will often give a company its competitive edge and is defined as the totality of features that affect how a product looks, feels, and functions in terms of customer re+uirements. A) onformance B) !esign ) $erformance !) %eliability ") ;tyle Answer# B $age %ef# &&' )b*ective# & !ifficulty# -oderate 51) A group of products within a product class that are closely related because they perform a similar function, are sold to the same customer groups, are marketed through the same outlets or channels, or fall within given price ranges is known as a ,,,,,,,,. A) product type B) product class ) need family !) product variant ") product line Answer# " $age %ef# &&0 )b*ective# 5 !ifficulty# "asy 5') A@n) ,,,,,,,, is defined as a distinct unit within a brand or product line distinguishable by size, price, appearance, or some other attribute. A) stockkeeping unit B) inventory turn ) individual brand !) product type ") brand line Answer# A $age %ef# &&0 )b*ective# 5 !ifficulty# -oderate

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5&) A ,,,,,,,, is the set of all products and items a particular seller offers for sale. A) product line B) product mix ) product extension !) product system ") product class Answer# B $age %ef# &&0 )b*ective# 5 !ifficulty# "asy 55) 4appy 4ome $roducts produces detergents, toothpaste, bar soap, disposable diapers, and paper products. .his company has a product ,,,,,,,, of five lines. A) type B) length ) class !) mix ") width Answer# " $age %ef# &&0 )b*ective# 5 AA ;B# Analytic skills !ifficulty# !ifficult 5() Esing the ,,,,,,,, level of the product hierarchy to market its soups, ampbell ;oups feature the company name first, then the soup variety on their packaging. A) product class B) product/type ) need/family !) product/family ") product/line Answer# " $age %ef# &&0 )b*ective# 5 AA ;B# Analytic skills !ifficulty# -oderate

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50) A consumer products firm manufactures and sells over '22 different sizes and varieties of *ams and *ellies. 6e can say that this manufacturer7s product mix has high ,,,,,,,,. A) consistency B) depth ) intensity !) range ") width Answer# B $age %ef# &&< )b*ective# 5 AA ;B# Analytic skills !ifficulty# -oderate 5<) .he ,,,,,,,, of the product mix refers to how closely related the various product lines are in end use, production re+uirements, distribution channels, or some other way. A) consistency B) depth ) width !) length ") composition Answer# A $age %ef# &&< )b*ective# 5 !ifficulty# -oderate 5=) .he ,,,,,,,, of the product mix refers to the total number of items in the mix. A) width B) length ) depth !) breadth ") range Answer# B $age %ef# &&< )b*ective# 5 !ifficulty# "asy 5>) 3n offering a product line, companies normally develop a ,,,,,,,, and modules that can be added to meet different customer re+uirements. A) convenience item B) flagship product ) staple item !) potential product ") basic platform Answer# " $age %ef# &&< )b*ective# 5 !ifficulty# -oderate
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(2) .he ,,,,,,,, of a product mix refers to how many variants are offered of each product in the line. A) width B) length ) depth !) consistency ") height Answer# $age %ef# &&< )b*ective# 5 !ifficulty# -oderate (1) 6hich of the following is a benefit of product mapping: A) studying market matrices B) integrating target markets ) identifying market segments !) educating consumers ") integrating target matrices Answer# $age %ef# &&= )b*ective# 5 !ifficulty# -oderate (') $roduct/line analysis provides information for two key decision areasproduct/line length and ,,,,,,,,. A) product/class composition B) product/mix pricing ) product pricing !) popular pricing ") product need family Answer# B $age %ef# &&= )b*ective# 5 !ifficulty# -oderate (&) 6hat occurs when any company lengthens its product line beyond its current range: A) market overreach B) brand dilution ) product adaptations !) cannibalization ") line stretching Answer# " $age %ef# &&> )b*ective# 5 !ifficulty# "asy

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(5) A company positioned in the FmiddleF market introduces a lower/priced product line. 6hat type of line/stretching is this: A) home stretch B) up/market stretch ) down/market stretch !) maintenance stretch ") two/way stretch Answer# $age %ef# &52 )b*ective# 5 !ifficulty# -oderate (() -oving ,,,,,,,, carries risks. .he new brand can cannibalize core brand sales and lower the core brand7s +uality image. A) up/market B) two ways ) one way !) down/market ") out/market Answer# ! $age %ef# &52 )b*ective# 5 !ifficulty# -oderate (0) ompanies may wish to implement a@n) ,,,,,,,, to achieve more growth, to realize higher margins, or simply to position themselves as full/line manufacturers. A) up/market stretch B) rebranding plan ) outsourcing strategy !) disintermediation policy ") vertical integration strategy Answer# A $age %ef# &52 )b*ective# 5 !ifficulty# -oderate

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(<) A manufacturer of hiking boots looks at data that indicate that their subsegment of the market called Fserious hikerF is declining and is predicted to decline into the future. .he firm decides to enter the Flow/priceF segment with its new items. .his is an example of a firm7s ,,,,,,,, to reach a new market. A) down/market stretch B) up/market stretch ) two/way stretch !) marketing research ") disintermediation Answer# A $age %ef# &52 )b*ective# 5 AA ;B# Analytic skills !ifficulty# -oderate (=) -arriott orporation now contains hotels and motels from the FbudgetF end of the consumer spectrum to the FpremiumF end with their ?! -arriott flagship locations. .his is an example of a firm that successfully performed a ,,,,,,,, to reach more consumers and ventures that are more profitable. A) upstream integration B) two/way stretch ) up/market stretch !) down/market stretch ") downstream integration Answer# B $age %ef# &52 )b*ective# 5 AA ;B# Analytic skills !ifficulty# -oderate (>) A product line can also be lengthened by adding more items within the present range. .here are several motives for line filling. 6hich of the following is one of them: A) responding to senior management wishes B) responding to consumer wishes ) reaching for incremental profits !) reaching for incremental capacity ") responding to sales/force demands Answer# $age %ef# &51 )b*ective# 5 !ifficulty# -oderate

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02) 3f line filling is overdone, it could result in ,,,,,,,, and customer confusion. A) sales paralysis B) manufacturing inefficiencies ) self/cannibalization !) disintermediation ") ineffective management Answer# $age %ef# &51 )b*ective# 5 !ifficulty# -oderate 01) $rice/setting logic must be modified when the product is part of a product mix. 3n that case, the firm searches for a set of prices that ,,,,,,,, profits on the total mix. A) are ineffective on total B) have no effect on total ) maximizes !) minimizes ") capitalize upon Answer# $age %ef# &5' )b*ective# 5 !ifficulty# -oderate 0') ompanies normally develop ,,,,,,,, rather than single products and re+uire sellers to establish perceived +uality differences between price steps within it. A) product mix B) captive products ) product lines !) optional products ") average products Answer# $age %ef# &5' )b*ective# 5 !ifficulty# -oderate

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0&) 6hen shopping for tires for your automobile, you notice that the manufacturer you have selected has tires for your car priced low, average, and high, based upon performance and features. .his is an example of what type of product/mix pricing: A) two/part pricing B) product/line pricing ) captive product pricing !) market pricing skimming ") price discrimination Answer# B $age %ef# &5' )b*ective# 5 AA ;B# Analytic skills !ifficulty# !ifficult 05) ;ome service firms often engage in ,,,,,,,,, consisting of a fixed fee plus a variable usage fee. A) pure bundling B) pure pricing ) mixed pricing !) captive pricing ") two/part pricing Answer# " $age %ef# &5& )b*ective# 5 !ifficulty# -oderate 0() 3n ,,,,,,,,, the seller offers goods both individually and in bundles and often charges less for the FbundleF than for the individual products. A) pirating pricing B) captive pricing ) two/part pricing !) pure bundling ") mixed bundling Answer# " $age %ef# &55 )b*ective# 5 !ifficulty# -oderate

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00) $urchasers of theatre tickets receive a '2G discount if they purchase and pay for the full season at one time. .his is an example of what type of product/mix pricing: A) mixed bundling B) pure bundling ) cross/promotion !) captive pricing ") two/part pricing Answer# A $age %ef# &55 )b*ective# 5 AA ;B# Analytic skills !ifficulty# -oderate 0<) -c!onald7s restaurants inside 6al/-arts and ;tarbucks inside ;uper .argets are examples of ,,,,,,,,, whose main advantages are that the products can or may be convincingly positioned by virtue of the associated brands. A) cooperative marketing B) cross/promotion ) retail co/branding !) ingredient branding ") feature promotion Answer# $age %ef# &55 )b*ective# ( AA ;B# Analytic skills !ifficulty# -oderate 0=) Betty rocker cake mixes using 4ershey syrup in its cake mixes and FHunchablesF lunch combinations with .aco Bell tacos are examples of what special type of branding: A) family branding B) ingredient co/branding ) co/branding !) generic/branding ") individual branding Answer# B $age %ef# &5( )b*ective# ( AA ;B# Analytic skills !ifficulty# -oderate

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0>) .he main advantage of co/branding is that a product may be convincingly positioned by virtue of the ,,,,,,,, involved. A) branding synergy B) increased advertising dollars ) multiple brands !) bundled package ") pure bundling Answer# $age %ef# &5( )b*ective# ( !ifficulty# -oderate <2) .he potential disadvantages of ,,,,,,,, are the risks and lack of control from becoming aligned with another brand in the consumers mind. onsumer expectations about the level of involvement and commitment are likely to be high, so unsatisfactory performance could be very negative for the brands involved. A) co/branding B) cannibalization ) vertical integration !) disintermediation ") brand stretching Answer# A $age %ef# &5( )b*ective# ( !ifficulty# -oderate <1) ,,,,,,,, is a special case of co/branding involving creating brand e+uity for materials, components, or parts that are necessarily contained within other branded products. A) ross/branding B) 3ngredient branding ) "+uity branding !) 8amily branding ") Beneric branding Answer# B $age %ef# &5( )b*ective# ( !ifficulty# -oderate

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<') 6e define packaging as all the activities of designing and producing the container for a product. .his includes up to three levels of material# primary package, secondary package, and ,,,,,,,,. A) retailer package B) design package ) shipping package !) consumer package ") supplier package Answer# $age %ef# &50 )b*ective# 0 !ifficulty# -oderate <&) ;ales of luxury goods such as perfumes, colognes, and aftershaves depend heavily upon their initial response by the consumer. A well/designed package can create convenience and promotional value. 3t has been called the Fsilent salesman.F 6hich of the three levels of packaging is this Fsilent salesmanF: A) retailer B) consumer ) shipping !) secondary ") primary Answer# " $age %ef# &50 )b*ective# 0 AA ;B# Analytic skills !ifficulty# -oderate <5) 6hich of the following factors is one of the contributors to the growing use of packaging as a marketing tool: A) consumption aid B) consumer affluence ) consumer influence !) conformance +ualities ") brand identification Answer# B $age %ef# &50 )b*ective# 0 !ifficulty# -oderate

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<() ,,,,,,,, are formal statements of expected product performance by the manufacturer. A) 3nsurance B) 6arranties ) Bonds !) 3nvoices ") Balance sheets Answer# B $age %ef# &5> )b*ective# 0 !ifficulty# "asy <0) -any sellers offer either general or specific guarantees. Buarantees reduce the buyer7s ,,,,,,,, risk. A) actual B) perceived ) real !) implied ") stated Answer# B $age %ef# &5> )b*ective# 0 !ifficulty# -oderate <<) Buarantees are most effective in two situations. .he first is when the company or products are not well known and the second is when the product7s +uality is ,,,,,,,, to competition. A) not known B) different ) inferior !) e+uivalent ") superior Answer# " $age %ef# &5> )b*ective# 0 !ifficulty# -oderate

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<=) A new product is advertised on the FinfomercialsF as being Fthe best cleaner money can buyF and Fif not completely satisfied, return the product for a full refund, including shipping.F .he strategy of using a strong guarantee in this instance is sound because ,,,,,,,,. A) it is an example of a misleading or false advertising and is illegal B) the product is so superior to competition that there will be no claims for refunds ) it is *ust Fadvertising fluffF and the manufacturer has no intentions of refunding money !) for a product that is not too well known, it is Fgood advertisingF because the claims will be a small percentage of sales ") for a product that is not too well known it reduces the buyer7s risk in purchasing Answer# " $age %ef# &5> )b*ective# 0 AA ;B# Analytic skills !ifficulty# -oderate <>) -arketing planning begins with formulating an offering to meet target customers7 needs or wants. Answer# .%E" $age %ef# &'( )b*ective# 1 !ifficulty# "asy =2) A product is anything that can be offered to a market to satisfy a want or need. Answer# .%E" $age %ef# &'( )b*ective# 1 !ifficulty# "asy =1) 3n planning its market offering, the marketer needs to address five product levels, each of which reduces customer value. Answer# 8AH;" $age %ef# &'0 )b*ective# 1 !ifficulty# -oderate =') .he customer/value hierarchy consists of the basic product, core benefit, expected product, augmented product, and the consumption system. Answer# 8AH;" $age %ef# &'0 )b*ective# 1 !ifficulty# -oderate

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=&) -arketers have traditionally classified products on the basis of characteristics such as durability, tangibility, and use. Answer# .%E" $age %ef# &'< )b*ective# 1 !ifficulty# "asy =5) !urable products normally re+uire less personal selling and service and less seller guarantees than nondurable goods. Answer# 8AH;" $age %ef# &'< )b*ective# 1 !ifficulty# -oderate =() Because they are intangible, durable goods normally re+uire more +uality control, supplier credibility, and adaptability than either services or nondurable goods. Answer# 8AH;" $age %ef# &'< )b*ective# 1 !ifficulty# "asy =0) arlos always buys bread and milk when he goes grocery shopping. 3n this case, bread and milk are examples of impulse goods. Answer# 8AH;" $age %ef# &'< )b*ective# 1 AA ;B# Analytic skills !ifficulty# "asy =<) A -aserati sports car is considered a convenience good because interested buyers will travel far to buy one. Answer# 8AH;" $age %ef# &'< )b*ective# 1 AA ;B# Analytic skills !ifficulty# "asy ==) .he homogeneity of natural materials limits the amount of demand/creation activity that producers undertake. Answer# .%E" $age %ef# &'= )b*ective# 1 !ifficulty# -oderate

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=>) apital items are long/lasting goods that facilitate developing or managing the finished products. Answer# .%E" $age %ef# &'= )b*ective# 1 !ifficulty# "asy >2) ;upplies can be classified as two kinds# heterogenous supplies and homogeneous supplies. Answer# 8AH;" $age %ef# &'= )b*ective# 1 !ifficulty# -oderate >1) .o be branded, physical products need not be differentiated. Answer# 8AH;" $age %ef# &'= )b*ective# ' !ifficulty# -oderate >') .o avoid Ffeature fatigue,F companies must be careful to prioritize those features that are included and find unobtrusive ways to provide information about how consumers can use and benefit from the feature. Answer# .%E" $age %ef# &'> )b*ective# ' !ifficulty# -oderate >&) 8irms should design the highest performance level possible for their products. Answer# 8AH;" $age %ef# &'> )b*ective# ' !ifficulty# -oderate >5) As a selling point, durability commands a particularly high pricing premium, especially for products that are sub*ect to rapid technological obsolescence, as are personal computers and video cameras. Answer# 8AH;" $age %ef# &&2 )b*ective# ' !ifficulty# !ifficult >() 3f the physical product cannot be easily differentiated, the key to competitive advantage lies in the pricing of the related FservicesF provided by the manufacturer. Answer# 8AH;" $age %ef# &&2 )b*ective# ' !ifficulty# -oderate
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>0) ustomer training and customer consulting are two areas for service differentiation that manufacturers can use with their products. Answer# .%E" $age %ef# &&1 )b*ective# ' !ifficulty# "asy ><) .he cost of processing a return can be significantly greater than that of an outbound shipment. Answer# .%E" $age %ef# &&1 )b*ective# ' !ifficulty# -oderate >=) !esign can shift consumer perceptions to make brand experiences more rewarding. Answer# .%E" $age %ef# &&& )b*ective# & !ifficulty# "asy >>) .he product hierarchy stretches from basic needs to particular items that satisfy those needs. Answer# .%E" $age %ef# &&0 )b*ective# 5 !ifficulty# -oderate 122) A product system is a group of diverse and unrelated items that does not function in a compatible manner and includes the product mix and product assortment. Answer# 8AH;" $age %ef# &&0 )b*ective# 5 AA ;B# Analytic skills !ifficulty# -oderate 121) .he four product/mix dimensions @length, width, depth, consistency) permit the company to expand its business. Answer# .%E" $age %ef# &&0/&&< )b*ective# 5 !ifficulty# -oderate 12') .he product/line length can be obtained by averaging the number of variants within the brand groups. Answer# 8AH;" $age %ef# &&< )b*ective# 5 !ifficulty# -oderate
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12&) "very company7s product line covers a certain part of the total possible range of products and consumer levels. Answer# .%E" $age %ef# &&> )b*ective# 5 !ifficulty# -oderate 125) ompanies in the Fmiddle marketF should never attempt to stretch their line in both directions. Answer# 8AH;" $age %ef# &52 )b*ective# 5 !ifficulty# -oderate 12() Hine filling, if overdone, may result in self/cannibalization and increased customer loyalty. Answer# 8AH;" $age %ef# &51 )b*ective# 5 !ifficulty# -oderate 120) 3n the rapidly changing market of today7s world, product lines must be continuously updated or modernized. Answer# .%E" $age %ef# &51 )b*ective# 5 !ifficulty# "asy 12<) $rice/setting logic must be modified when the product is part of a product mix. Answer# .%E" $age %ef# &5' )b*ective# 5 !ifficulty# "asy 12=) ompanies normally develop product lines rather than a single product and introduce price steps such as a Flow/,F Faverage/,F and Fhigh/F priced computer system. Answer# .%E" $age %ef# &5' )b*ective# 5 !ifficulty# -oderate 12>) -anufacturers of systems such as razors and ink *et printers use a system of pricing called Ftwo/part pricingFone price for the disposable products and another for the Fhardware.F Answer# 8AH;" $age %ef# &5& )b*ective# 5 !ifficulty# !ifficult
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112) A pricing system in which there is a FfixedF fee and then a variable FusageF fee is called bundling. Answer# 8AH;" $age %ef# &55 )b*ective# 5 !ifficulty# -oderate 111) $ure bundling occurs when a firm offers goods both individually and in bundles. Answer# 8AH;" $age %ef# &55 )b*ective# 5 !ifficulty# "asy 11') o/branding is when two or more well/known existing brands are combined into a *oint product and9or marketed together in some fashion. Answer# .%E" $age %ef# &55 )b*ective# ( !ifficulty# "asy 11&) 3ngredient branding can take on a form called Fself/brandingF in which the company advertises its own branded ingredients. Answer# .%E" $age %ef# &5( )b*ective# ( !ifficulty# -oderate 115) $ackaging is all the activities of designing and producing the container for a product. Answer# .%E" $age %ef# &50 )b*ective# 0 !ifficulty# "asy 11() Habels can identify the product and must contain legal statements that under various 8ederal laws cannot be misleading, false, or deceptive. Answer# .%E" $age %ef# &5= )b*ective# 0 AA ;B# %eflective thinking !ifficulty# "asy 110) 6arranties are formal statements of expected product performance by the manufacturer. Answer# .%E" $age %ef# &5> )b*ective# 0 !ifficulty# "asy
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11<) A guarantee7s greatest contribution to a product7s success is that it decreases the buyer7s perceived risk in the purchase of the product. Answer# .%E" $age %ef# &5> )b*ective# 0 !ifficulty# -oderate 11=) Buarantees are most effective when the product is well known and9or similar in performance to other brands in the market. Answer# 8AH;" $age %ef# &5> )b*ective# 0 !ifficulty# "asy 11>) 3n planning its market offering, the marketer must address the five product levels of the customer/value hierarchy. !escribe the Fcustomer/value hierarchyF and identify the five levels of product contained within. Answer# "ach layer adds more customer value, and the five levels are# @1) the core benefitIthe service or benefit the customer is really buyingC @') the basic productIthe actual product that provides the core benefitC @&) expected productIa set of attributes and conditions buyers normally expect when they purchase the productC @5) the augmented productIthe marketer exceeds customer expectationsC and @() the potential productIwhich encompasses all the possible augmentations and transformations the product or offering might undergo in the future. .hese five elements constitute the buyers7 consumption system. $age %ef# &'0 )b*ective# 1 !ifficulty# -oderate 1'2) .he vast array of products that consumers buy can be classified on the basis of shopping habits and are broken down into four main areas. Hist these four main classifications of consumer goods and explain what elements are included within. Answer# .he four main areas are# @1) onvenience goods are bought fre+uently, immediately, and with a minimum of effortC @') shopping goods are goods that the consumer characteristically compares on such bases as suitability, +uality, price, and styleC @&) specialty goods have uni+ue characteristics or brand identification for which a sufficient number of buyers are willing to make a special purchasing effortC and @5) unsought goods are those goods that the consumer does not know about or does not normally think of buying. $age %ef# &'< )b*ective# 1 !ifficulty# -oderate

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1'1) Jou know that marketers have traditionally classified products based on characteristics of durability, tangibility, and use. Jou also know that each product type has an appropriate marketing/mix strategy attached. 3n analyzing your company7s products, you decide to list each of these products and the appropriate marketing/mix strategy to understand where your products Ffit.F Hist these products and their appropriate marketing/mix strategies. Answer# @1) Kondurable goodsIthe appropriate strategy is to make them available in many locations, charge only a small markup, and advertise heavily to induce trial and build preference. @') !urable goodsItangible goods that normally survive many uses. !urable products normally re+uire more personal selling and service, command a higher margin, and re+uire more seller guarantees. @&) ;ervicesIintangible, inseparable, variable, and perishable products. .hey re+uire more +uality control, supplier credibility, and adaptability. $age %ef# &'< )b*ective# 1 AA ;B# Analytic skills !ifficulty# -oderate 1'') 3ndustrial goods can be classified in terms of how they enter the production process and their relative costliness. 3dentify the three groups of industrial goods. Answer# .he three groups of industrial goods include# @1) -aterials and parts are goods that enter the manufacturer7s product completely. %aw materials @farm and natural products) and manufactured materials and parts @component materials and component parts) compose this groupC @') apital items are long/lasting goods that facilitate developing or managing the finished product, such as machinery @installations and e+uipment)C and @&) ;upplies and business services are short/term goods and services that facilitate developing or managing the finished productC maintenance and repair and operating supplies are included here. Business supplies include advisory services and other FservicesF necessary for the ongoing operation of the business. $age %ef# &'</&'= )b*ective# 1 !ifficulty# -oderate

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1'&) !escribe the six main service differentiators. Answer# .he main service differentiators are ordering ease, delivery, installation, customer training, customer consulting, and maintenance and repair. )rdering ease refers to how easy it is for the customer to place an order with the company. !elivery refers to how well the product or service is brought to the customer. 3t includes speed, accuracy, and care throughout the process. 3nstallation refers to the work done to make a product operational in its planned location. "ase of installation is a true selling point for buyers of complex products like heavy e+uipment and for technology novices. ustomer training helps the customer7s employees use the vendor7s e+uipment properly and efficiently. ustomer consulting includes data, information systems, and advice services the seller offers to buyers. -aintenance and repair programs help customers keep purchased products in good working order. $age %ef# &&2/&&1 )b*ective# ' !ifficulty# -oderate 1'5) !istinguish between controllable returns and uncontrollable returns. Answer# ontrollable returns result from problems or errors by the seller or customer and can mostly be eliminated with improved handling or storage, better packaging, and improved transportation and forward logistics by the seller or its supply chain partners. Encontrollable returns result from the need for customers to actually see, try, or experience products in person to determine suitability and can7t be eliminated by the company in the short run through any of these means. $age %ef# &&1 )b*ective# ' !ifficulty# -oderate 1'() 6hat is the significance of design for a company7s products and services: 6hat are the advantages of a good design: Answer# !esign offers a potent way to differentiate and position a company7s products and services. !esign is the totality of features that affect how a product looks, feels, and functions to a consumer. !esign offers functional and aesthetic benefits and appeals to both our rational and emotional sides. .he designer must figure out how much to invest in form, feature development, performance, conformance, durability, reliability, reparability, and style. .o the company, a well/designed product is easy to manufacture and distribute. .o the customer, a well/designed product is pleasant to look at and easy to open, install, use, repair, and dispose of. .he designer must take all these factors into account. !esign can shift consumer perceptions to make brand experiences more rewarding. !esign should penetrate all aspects of the marketing program so that all design aspects work together. $age %ef# &&'/&&& )b*ective# & !ifficulty# -oderate
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1'0) "xplain the concepts of product/mix width, length, depth, and consistency. Answer# .he width of a product mix refers to how many different product lines the company carries. .he length of a product mix refers to the total number of items in the mix. .he depth of a product mix refers to how many variants are offered of each product in the line and is determined by dividing the total number of items by the number of lines. .he consistency of the product mix refers to how closely related the various product lines are in end use, production re+uirements, distribution channels, or some other way. $age %ef# &&0/&&< )b*ective# 5 !ifficulty# -oderate 1'<) $roduct/mix pricing can involve a number of pricing strategies for the brand manager. Hist each of these strategies and briefly define each. Answer# .here are six situations involving product/mix pricing# @1) product/line pricingIlow/, medium/, and high/priced products within the same line, such as different priced tiesC @') optional/feature pricingIcharging for FextraF features, such as leather seats in a carC @&) captive/ product pricingIwhen the FuserF has no choice but to use the high/priced FdisposableF products that make the entire product work @for example, ink cartridges for printers)C @5) two/part pricing Iconsisting of a fixed fee and a variable usage fee @cell phone usage)C @() by/product pricingI the price of the by/products of goods being used for other purposes @oil refining for example)C and @0) product/bundling pricingIpure bundling when the firm offers its products only as a bundle, or mixed bundling when the firm offers its products as a FbundleF and9or individually. $age %ef# &5'/&55 )b*ective# 5 !ifficulty# -oderate 1'=) Larious factors have contributed to the increased importance of packaging as a marketing tool. Hist and briefly describe these events. Answer# ;elf/serviceIan increasing number of products are being sold without any personal interaction, on a self/service basis. onsumer affluenceIrising consumer affluence means consumers are willing to pay a little more for convenience, appearance, dependability, and prestige of better packages. ompany and brand imageIpackages contribute to instant recognition of the company or brand. 3nnovation opportunityIinnovative packaging can bring large benefits to consumers and profits to producers. $age %ef# &50 )b*ective# 0 !ifficulty# -oderate

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1'>) A manufacturer is contemplating introducing a product that is inferior to its competition in its performance, design, and functionality. 4owever, the manufacturer believes that Fgood brand marketingF can overcome these shortfalls. 6hy is this thinking incorrect: Answer# At the heart of a great brand is a great product, the product is a key element in the market offering. ustomers will *udge the product @offering) on three basic elements# product features and +ualityC services mix and +uality, and price. Kot having a competitive product cannot be overcome by marketing. $age %ef# &'( )b*ective# 1 AA ;B# Analytic skills !ifficulty# -oderate 1&2) ;tudying how consumers shop, how they use a particular product or service, and how they dispose of the product when consumed is important for marketers. .his information forms the basis of product strategy. !efine the consumption system and identify the two upcoming product strategies that are affected by this knowledge. Answer# .his is called the user7s total consumption system, defined as the way the user performs the tasks of getting and using products and related services. .his is important because it will contain information useful in the product/augmentation strategy and the potential product strategy. $age %ef# &'0 )b*ective# 1 !ifficulty# -oderate 1&1) 3ndustrial/goods classifications based on terms of how the products enter the production process and their relative costs include such segments as materials and parts and capital items. 6indow cleaning services, consumable office supplies, personal computers, desks, paint, nails, and buckets are included in the classifications of industrial goods. Hist the other FclassificationsF including subclassifications for industrial goods. Answer# 3ndustrial/goods classifications include material and parts, farm products, natural products, manufactured materials and parts, and component parts. apital goods include installations and e+uipment. ;upplies and business services include maintenance and repair items, operating supplies, and business advisory services. $age %ef# &'</&'= )b*ective# 1 !ifficulty# -oderate 1&') .o be branded, products must be differentiated. Hist the possible ways that physical products can be differentiated. Answer# $roducts can be differentiated according to form, features, customization, performance +uality, conformance +uality, durability, reliability, reparability, and style. $age %ef# &'= )b*ective# ' !ifficulty# "asy

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1&&) 3n your position as a marketing manager for a small industrial company, you have been asked by the president to help differentiate the company7s product from its competitors. 3n reviewing your marketing management notes, you note that the text stated that physical products could be differentiated in nine ways. .hese nine areas comprise the FmeatF of the memo you are writing to the president of your firm. 6hat are the nine ways that physical products can be differentiated: Answer# .he nine ways that physical products can be differentiated are form, features, customization, performance +uality, conformance +uality, durability, reliability, reparability, and style. $age %ef# &'>/&&2 )b*ective# ' AA ;B# Analytic skills !ifficulty# "asy 1&5) 6hen a physical product cannot easily be differentiated, the key to competitive success may lie in adding valued services and improving +uality. 3dentify the six main service differentiators. Answer# .he six main service differentiators are @1) ordering ease, @') delivery, @&) installation, @5) customer training, @() customer consulting, and @0) maintenance and repair. $age %ef# &&2 )b*ective# ' !ifficulty# "asy 1&() Jou have been asked to create a product system for your company7s personal digital assistant. Before starting, you must define the term Fproduct systemF to the engineers to enable them to start design and production of the aligned items. !efine the concept of a Fproduct system.F Answer# A product system is a group of diverse but related items that function in a compatible manner. $age %ef# &&0 )b*ective# 5 AA ;B# Analytic skills !ifficulty# "asy 1&0) Jou have been asked to prepare a product/line analysis for your company7s stable of products. 6hy is it important for product/line mangers to do a product/line analysis: Answer# $roduct/line managers need to know the sales and profits of each item in their line in order to determine which items to build, maintain, harvest, or divest. .hey also need to understand each product line7s market profile. $age %ef# &&< )b*ective# 5 AA ;B# Analytic skills !ifficulty# "asy

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1&<) "xplain the concept of line stretching and the three uses for it. Answer# Hine stretching occurs when a company lengthens its product line beyond its current range. 3t includes down/market stretch @introduce a lower/priced line), up/market stretch @introduce an upscale line), or two/way stretch @introduce both an upscale line and a down/scale line). $age %ef# &&>/&52 )b*ective# 5 !ifficulty# -oderate 1&=) As the newest member of the marketing department, your immediate boss asks you to comment on the company7s proposal to add two new shoes to the company7s middle/of/the/road pricing and product/line strategies. .he first pair will retail for A 52.22 and has as its target market the FbargainF shopper. .he second pair will retail for A '22.22 and is targeted at the Fsophisticated shopper.F 3n relation to product/line strategy, what is the company trying to accomplish with these two new items: Answer# .his is an example of the company trying a Ftwo/way stretchFIintroducing products at both ends of the consumer market simultaneously. $age %ef# &52 )b*ective# 5 AA ;B# Analytic skills !ifficulty# "asy 1&>) !uring a meeting, you were asked by the vice/president of marketing, to comment on the company7s pricing strategy for its products. %ecalling your marketing management course in college, your comments define the six situations involving product/mix pricing. Hist these six product/mix pricing strategies. Answer# $roduct/mix pricing includes product/line pricing, optional/feature pricing, captive/ product pricing, two/part pricing, by/product pricing, and product/bundling pricing. $age %ef# &5'/&55 )b*ective# 5 AA ;B# Analytic skills !ifficulty# "asy 152) )utline three guidelines for correctly implementing a bundling strategy. Answer# !o not promote individual products in a package as fre+uently and cheaply as the bundle. ;econd, limit promotions to a single item in the mix if you still want to promote individual products. .hird, if you decide to offer large rebates on individual products, it must be the absolute exception and done with discretion. $age %ef# &55 )b*ective# 5 !ifficulty# -oderate

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151) As the marketing manager for your firm, you have been approached by your key component manufacturer suggesting that your two firms Fingredient brandF a new item. 6hat are some of the re+uirements for succeeding in ingredient branding: Answer# 8irst, the consumer must perceive that the ingredient matters to the performance and success of the product. ;econdly, consumers must be convinced that not all ingredient brands are the same and that the ingredient is superior. .hird, a distinctive symbol or logo must clearly signal to consumers that the host product contains the ingredient. 8ourth, a coordinated FpullF and FpushF program must help consumers understand the importance and advantages of the branded ingredient. $age %ef# &50 )b*ective# ( AA ;B# Analytic skills !ifficulty# -oderate 15') Jour research shows that over (&G of all purchases are made on impulse. As you sit down with your packaging design team, you tell them that the package must communicate many of the sales tasks. Hist the sales tasks that packaging must now incorporate due to the increase in self/ service sales. Answer# .hese tasks are# attract attention, describe the product7s features, create consumer confidence, and make a favorable overall impression. $age %ef# &50 )b*ective# 0 AA ;B# Analytic skills !ifficulty# -oderate 15&) 3n discussions with the packaging design team, you note that they do not have a firm design ob*ective for the final package. 3n an internal memo to your boss, outline the ob*ectives @both company and consumer orientated) that you wish to see implemented by the design team. Answer# .he ob*ectives of packaging are to identify the brandC convey descriptive and persuasive informationC facilitate product transportation and protectionC assist at/home storageC and aid product consumption. $age %ef# &5< )b*ective# 0 AA ;B# Analytic skills !ifficulty# -oderate 155) ;ellers must label their products. Habels serve many purposes beyond *ust FnamingF the product. Hist the additional services provided by a product7s label. Answer# A label identifies the productC a label might also grade the productC a label might describe the productC and the label might promote the product. A label may contain information re+uired by law. $age %ef# &5= )b*ective# 0 !ifficulty# "asy

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15() 6hat is the importance of guarantees: Answer# Buarantees reduce the buyer7s perceived risk. .hey suggest that the service9product is of high +uality and that the company and its service performance are dependable. $age %ef# &5> )b*ective# 0 !ifficulty# "asy 150) 6hat are the situations in which guarantees are most effective: Answer# Buarantees are most effective when either the company or the product is not well known, so a Fmoney/backF guarantee in that case would reduce the buyer7s perceived risk and provide them with confidence in purchasing the product. .he second area is when the product9service is superior to competition in +uality and performance. $age %ef# &5> )b*ective# 0 !ifficulty# -oderate

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