Podcast
Questions and Answers
True or false: The iPod revolutionized how we purchase entertainment.
True or false: The iPod revolutionized how we purchase entertainment.
True
True or false: Offerings are products and services designed to fulfill people's needs.
True or false: Offerings are products and services designed to fulfill people's needs.
True
True or false: The three major components of an offering are product, price, and promotion.
True or false: The three major components of an offering are product, price, and promotion.
False
Curves International sells tangible products.
Curves International sells tangible products.
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The price paid for an offering, the total cost of ownership (TCO), only includes the amount the consumer paid for it.
The price paid for an offering, the total cost of ownership (TCO), only includes the amount the consumer paid for it.
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The total cost of ownership (TCO) is a concept used only by businesses.
The total cost of ownership (TCO) is a concept used only by businesses.
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A service must be consumed in order to be considered an important aspect of an offering.
A service must be consumed in order to be considered an important aspect of an offering.
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True or false: The service-dominant approach to marketing integrates the product, price, and service dimensions of an offering.
True or false: The service-dominant approach to marketing integrates the product, price, and service dimensions of an offering.
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True or false: Customers determine which products are better.
True or false: Customers determine which products are better.
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True or false: Focusing too much on the customer can lead to poor product development.
True or false: Focusing too much on the customer can lead to poor product development.
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True or false: The product-dominant perspective of business focuses on creating and manufacturing better products at lower prices.
True or false: The product-dominant perspective of business focuses on creating and manufacturing better products at lower prices.
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B2B offerings are categorized by how consumers shop.
B2B offerings are categorized by how consumers shop.
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Capital equipment offerings are used for less than one year.
Capital equipment offerings are used for less than one year.
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Marketing capital equipment can be challenging because the buying decisions are simple and involve few departments.
Marketing capital equipment can be challenging because the buying decisions are simple and involve few departments.
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True or false: Post-it Notes were created by a 3M scientist who was originally trying to make something else.
True or false: Post-it Notes were created by a 3M scientist who was originally trying to make something else.
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True or false: The iPod Shuffle is based on the MP3 technology platform.
True or false: The iPod Shuffle is based on the MP3 technology platform.
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True or false: The technology platform used to develop EQyss's Micro Tek pet spray was originally developed by NASA for decontaminating astronauts.
True or false: The technology platform used to develop EQyss's Micro Tek pet spray was originally developed by NASA for decontaminating astronauts.
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True or false: Line breadth refers to the number of product lines a company has.
True or false: Line breadth refers to the number of product lines a company has.
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True or false: Consumers often care about brand names when deciding on shopping goods
True or false: Consumers often care about brand names when deciding on shopping goods
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True or false: Specialty offerings are highly differentiated and are available only through limited channels
True or false: Specialty offerings are highly differentiated and are available only through limited channels
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True or false: Unsought offerings are those that buyers generally want to have to shop for until they need them
True or false: Unsought offerings are those that buyers generally want to have to shop for until they need them
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True or false: Convenience offerings often include life's necessities and there is little difference across brands
True or false: Convenience offerings often include life's necessities and there is little difference across brands
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The service-dominant perspective to marketing integrates three different dimensions of an offering: product, price, and services.
The service-dominant perspective to marketing integrates three different dimensions of an offering: product, price, and services.
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A product line is a group of similar offerings that can be deep (many offerings of a similar type) and/or broad (offerings that are very different from one another and cover a wide range of customers’ needs).
A product line is a group of similar offerings that can be deep (many offerings of a similar type) and/or broad (offerings that are very different from one another and cover a wide range of customers’ needs).
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The entire assortment of products that a company offers is called the product mix.
The entire assortment of products that a company offers is called the product mix.
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Consumer offerings can be categorized into four general categories: convenience offerings, shopping offerings, specialty offerings, and unsought offerings.
Consumer offerings can be categorized into four general categories: convenience offerings, shopping offerings, specialty offerings, and unsought offerings.
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True or false: Hewlett-Packard began in a garage in 1939.
True or false: Hewlett-Packard began in a garage in 1939.
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True or false: Hewlett-Packard's product was sold for 54 dollars, while competing products were sold for over 200 dollars.
True or false: Hewlett-Packard's product was sold for 54 dollars, while competing products were sold for over 200 dollars.
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True or false: IKEA designs its products based on the prices consumers want to pay.
True or false: IKEA designs its products based on the prices consumers want to pay.
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True or false: Lead users are often courted by manufacturers for their ability to generate new product ideas.
True or false: Lead users are often courted by manufacturers for their ability to generate new product ideas.
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True or false: Customers are particularly important co-creators of offerings when they are consuming products with service components.
True or false: Customers are particularly important co-creators of offerings when they are consuming products with service components.
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True or false: Customers in business-to-business markets are the biggest source of new product ideas.
True or false: Customers in business-to-business markets are the biggest source of new product ideas.
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True or false: Apple's Macintosh microcomputer was a low-cost knockoff of the Xerox Star.
True or false: Apple's Macintosh microcomputer was a low-cost knockoff of the Xerox Star.
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True or false: The product life cycle (PLC) helps marketers manage the stages of a product’s acceptance and success in the marketplace.
True or false: The product life cycle (PLC) helps marketers manage the stages of a product’s acceptance and success in the marketplace.
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True or false: The service-dominant perspective to marketing integrates three different dimensions of an offering: product, price, and services.
True or false: The service-dominant perspective to marketing integrates three different dimensions of an offering: product, price, and services.
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True or false: Companies might initially introduce a product in limited areas abroad due to possible constraints in international markets.
True or false: Companies might initially introduce a product in limited areas abroad due to possible constraints in international markets.
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True or false: Focus groups and depth interviews can be used later in the offering development process to test ideas?
True or false: Focus groups and depth interviews can be used later in the offering development process to test ideas?
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True or false: Concepts can be tested online by creating an image and having people representative of the target market provide feedback?
True or false: Concepts can be tested online by creating an image and having people representative of the target market provide feedback?
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True or false: If the value consumers receive from the product is less than the price the company charges for it, they will not buy it.
True or false: If the value consumers receive from the product is less than the price the company charges for it, they will not buy it.
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True or false: The offering must have process feasibility in order to be financially feasible.
True or false: The offering must have process feasibility in order to be financially feasible.
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True or false: Idea screening is the process of evaluating new product ideas to determine if they should be pursued further?
True or false: Idea screening is the process of evaluating new product ideas to determine if they should be pursued further?
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True or false: Concept testing involves getting early consumer feedback before investing too much money in an offering that won't work?
True or false: Concept testing involves getting early consumer feedback before investing too much money in an offering that won't work?
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True or false: Line extensions occur when a company introduces a new model based on the same platform and brand as one of its existing products?
True or false: Line extensions occur when a company introduces a new model based on the same platform and brand as one of its existing products?
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True or false: The purpose of concept testing is to evaluate the value, market need, feasibility, and profitability of a proposed product?
True or false: The purpose of concept testing is to evaluate the value, market need, feasibility, and profitability of a proposed product?
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True or false: Market tests are conducted to ensure that a new product reaches buyers, gets positive feedback, and generates sales.
True or false: Market tests are conducted to ensure that a new product reaches buyers, gets positive feedback, and generates sales.
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True or false: The first weekend box office sales for a new movie can be a good predictor of its overall success.
True or false: The first weekend box office sales for a new movie can be a good predictor of its overall success.
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True or false: Milestones used to evaluate products after their launch can vary depending on the organization and other products being developed.
True or false: Milestones used to evaluate products after their launch can vary depending on the organization and other products being developed.
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True or false: Once an offering is launched, a company's executives do not need to monitor its progress.
True or false: Once an offering is launched, a company's executives do not need to monitor its progress.
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True or false: The QFD process is particularly helpful for bundling the right features within HP's printer line.
True or false: The QFD process is particularly helpful for bundling the right features within HP's printer line.
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True or false: Alpha testing ensures that the offering works like it's supposed to in a variety of different environments.
True or false: Alpha testing ensures that the offering works like it's supposed to in a variety of different environments.
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True or false: Beta testing not only tests whether the offering works as advertised, but also tests the offering's delivery mechanisms and service processes.
True or false: Beta testing not only tests whether the offering works as advertised, but also tests the offering's delivery mechanisms and service processes.
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True or false: A rolling launch is when a company launches the offering to all of its markets at once.
True or false: A rolling launch is when a company launches the offering to all of its markets at once.
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