Products can be replaced by other products because it becomes obsolete over time. D) product line length A) Materials D) Product line filling A company's market offering usually includes some support services. Which of the following is NOT a desirable quality for a brand name? A company's brandincluding company values, brand story, visual identity, and taglinehas a major impact on consumers. E) installations, General Electric's campaign stating, "We bring good things to life" is an example of ________. E) line extension, Product mix ________ refers to the number of different product lines the company carries. A) line filling These products offer honest, everyday value for all customers looking for reliable, budget household basics, according to the retailer. E) added service, The strongest brands go beyond attributes or benefit positioning; they are positioned on ________. The SE Grocers Essentials brand is billed as dependable quality at an affordable price. A) service inseparability Product planners must design the actual product and also find ways to ________ it in order to create the bundle of benefits that will create the most customer value. E) Positioning, What are the two dimensions of product quality? E) social marketing, The Ad Council of America has developed dozens of ________ marketing campaigns, including classics such as "Smokey the Bear," "Keep America Beautiful," and "Only You Can Prevent Forest Fires." Bringing value to customers strategy #6. This particular market segment can be considered an extension of focus on quality customers segment discussed above. C) product quality E) adherence, A stripped-down model without any extras is the starting point; a company can create a higher-level model by adding ________. This doesnt mean these companies dont develop plenty of new products and line extensions, but when they do so, its to tackle a unique customer pain point or bring value to a different market segment. A) convenience product In contrast to this, brands are forever. Which is NOT one of those choices? D) satisfied and loyal customers E) productivity, Chicken of the Sea brand tuna sells more than the same size Kroger brand tuna, even though the Kroger tuna costs $0.15 less per can. B) evidence management C) Total quality management B) only an augmented product It's no secret that being consistent and transparent are key to customer-centricity. All Own Brand packaging will be reusable, recyclable, or industrially compostable by the end of 2028*. A company can stretch its product either upward or downward, but not both directions. You will likely also incur the costs that come with introducing a new product to the market. These businesses need deeper pockets, more patience, and higher risk tolerance. A company can increase its business in four ways. D) The name should translate easily into foreign languages. Ian McLeod, President and CEO of Southeastern Grocers said, Not only are we transforming by investing in our stores and in lower prices, but we are also investing in the quality of our products. B) It can lengthen its existing product lines. C) product line filling C) brand extension E) word-of-mouth elements. E) perimeter. The good news is retailers, DEBBIE RADIE CHIEF OPERATING OFFICER, BOARDMAN FOODS Recently named Woman of the Year by the American Frozen Food Institute (AFFI), Radie has a long history, Hamilton, Mont.-based Local Bounti Corp. (localbounti.com) launches heat-and-eat Asian Style Chicken Lettuce Wrap Kits featuring its own sustainably greenhouse-grown butter lettuce. Responsibility Ensures the brand contributes positively to the world. An image of the product or brand in the consumer's mind relative to competing products and brands is referred to as the product's _____. E) service productivity, All of the following are methods for developing a differentiated service delivery EXCEPT which one? Employees are trained to immediately and pleasantly respond to any customer complaints, and they are empowered to offer discounts and free add-ons to customers who believe they have received anything less than the best service. D) product mix They are on a continuous path of evolving their product with evermore better ideas and product innovation . They strategize, grow, and sell their company around . price, speed of service) or qualitative (e.g. C) Labeling Act of 1970 A product line is one line of similar products that are sold within a company, whereas a product mix is the combined total of all the product lines sold in a company. C) multibrands The value of a brand can be calculated and compared to other brands in the form of _____. Quaker produces a variety of cereals. These products offer honest, everyday value for all customers looking for reliable, budget household basics. Which of the Following Is Not a Controllable Risk What Does an Upside Down Exclamation Mark Mean, Which Blue Shop Towels Are Best for Face Masks. About Press Copyright , I Love to Go Swimming With Bow Legged Women. Product centricity and customer-centricity both have plenty of merits. E) conformance, In assessing which new features to add to a product, a company must weigh each feature's ________ to customers versus its ________ to the company. C) product mix D) service differentiation A) It should suggest something about the product's benefits and qualities. This requires customer-centric organizations to prioritize customer delight and value over profits, which is another example of the differences between product-centric vs. customer-centric organizations. It can be considered to be a product group that consists of all the related products that fall into that category. E) shopping products, For a fee, some companies ________ names or symbols previously created by other manufacturers, names of well-known celebrities, and/or characters from popular movies and books, any of which can provide an instant and proven brand name. C) product mixing E) Organization marketing, ________ is defined as the use of commercial marketing concepts and tools in programs designed to influence individuals' behavior to improve their well-being and that of society. Perceived brand equity affects brand satisfaction. B) Product quality C) co-branding B) Brand equity This kids fashion brand was designed specifically for infants and children. Kellogg's sells a variety of products under its own corporate name to brand all of its product lines. C) service variability D) positioning Which brand development strategy is being implemented? These benefits are communicated and delivered by ________ such as quality, features, and style and design. Coca . C) specialty products Buffer a social media scheduling platform highlights simplicity in both their product and their value proposition. Distributor-specific brand policy 4. D) licensed brand Private Brand: Target sells a private brand of health . ________ are products and services bought by final consumers for personal consumption. Lifestyle. D) Person marketing They began dipping their toes in the market. Demographic segmentation. Then, deduct the initial cost of acquiring them. C) product quality A service is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. Gina's Nail Salon focuses on ________. B) multibrands Products should satisfy their needs, and Customer-centric companies can provide that. B) benefits E) product mixes, A ________ is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges. A psychologist who uses aversive conditioning to treat a child's bed-wetting problem is using which of the following approaches? E) Intermarket marketing, ________ involves activities undertaken to create, maintain, or change attitudes toward particular cities, states, and regions. E) customer image. c. Behavioral. SEG said the SE Grocers brand was developed to quality benchmarks as close, if not better than the taste and quality currently offered by the established brands already in the market but at significantly lower prices.. A) consumers The goal of line extension is to satisfy a refined customer segment. In the years since, the brand's incredible visual storytelling, combined with a fantastic product line that now includes jewelry, shoes, and handbags, has amassed the pair more than 200,000 Instagram followers. B) packaging Marital Status. D) internal marketing B) social marketing Warby Parker has managed to quickly develop a brand that is unique and best in class. She notices that they come in numerous price ranges. Think of products that could succeed in adjacent markets. etc. C) government buyers C) value; cost Brand equity refers to a value premium that a company generates from a product with a recognizable name, when compared to a generic equivalent. E) product bandwidth, The major product line decision involves ________. A) internal marketing For more information, visit www.bi-lo.com, www.frescoymas.com, www.harveyssupermarkets.com and www.winndixie.com. Types of Value Propositions. When market segments are conceptually distinguishable and respond distinctively to various marketing mix elements and programs, they are said to be ________. The use of an existing brand name in a different product line is called brand _____. The brand's relentless focus is on the product and . C) line equity Dannijo. C) specialty products C) experience Google's brand is valued at $120 billion, the Coca-Cola brand is estimated at more than $78 billion, and Microsoft and IBM round out the top five, with brands valued at over $65 billion each. Consumers in this segment use brands and products as a means to signal their self-identity and social status. B) Place marketing Select a product line of products or brand from a company of your choice and research the companys social media marketing strategies. In the above definition, Philip Kotler emphasizes a few points, which I . Free returns are at the heart of Zappos customer-centric strategy. This product is a(n) ________ product. The Prestige brand offers an indulgent experience, at an incredible price, the retailer said. This requires customer-centric organizations to prioritize customer delight and value over profits, which is another example of the differences between product-centric vs. customer-centric organizations. COVID-19 has quickly and very visibly highlighted the critical importance of supply chains in . A) labeling information E) It can increase the consistency of its product mix. D) selection But beyond that, their obsession with customer research and analysis leads to happy customers and significant market share. B) capital items DHL. We are in a new reality. C) private brand Personalization. D) image marketing D) Industrial products C) width To provide you with a starting point for organizing your customers into matching groups, let's discuss 6 main types of customer segmentation: 1. Exclusive distributors brands policy. Products and services fall into two broad classifications based on the types of consumers that use them. Tailoring your emails to the behavior and needs of your subscribers is a powerful way to satisfy your target audience. B) store; private -To differentiate their offers from that of the competitors. A multi- or co-branded product or campaign increases exposure for your brand to the target audiences of your co-branding partner due to audience overlap. B) convenience products For most people (read: people who aren't CPAs or accounting professionals), bookkeeping is a pain in the ass. E) specialty, Mabel Lu is planning to buy a new washing machine. D) Brand It all just simply shows up when its supposed to, no sooner or later than needed. C) Capital items B) Design For 2016 they plan to offer a new product line of weight benches to the marketplace. B) brand line In this case all the products feature the company logo and the packaging for each product has a similar design and color palette. E) external marketing, Because service quality depends on the quality of buyer-seller interaction during the service encounter, service marketers use ________ to train employees in the art of interacting with customers to satisfy their needs. A) positioning Even better, the funds required for such an exercise are likely lower than traditional marketing or advertising costs. D) utilize all of the Ps in the marketing mix A) product mixing Selling on TikTok and Taobao. By creating markets versus chasing them, they position themselves as early leaders in new spaces. Keep in mind that private labeling expenses would not only be limited to manufacturing. Catering necessarily to the young adults in the 18 to 30 year old age group the Armani Jeans collection provides a trendy yet fashionable and luxurious line of apparelArmani Junior. This manager is referring to ________. From snacks and frozen foods to our breakfast icons were passionate about our family of brands and the markets were in. D) service variability Customer retention is perhaps the best measure of quality-a service firm's ability to hang on to its customers depends on how consistently it delivers value to them. These new brands are: Southeastern Grocers has put its focus on improving the overall quality of the own brand products offered across the four grocery brands in the southeast, including the development of a test kitchen and sensory lab tasting facility at their Florida headquarters. B) style E) all of the above, The impossibility of a barber storing haircuts for later sale is an example of which of the following? This is the largest market segment by income and the promotion of products in this segment is typically crucial to business success. A) performance and resistance B) line filling Chicken of the Sea has high brand ________. B) height Study with Quizlet and memorize flashcards containing terms like The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is referred to as A. mass marketing. Carefully examine the social media presence for the product. For instance Centrieva an accreditation management software for higher education had launched a series of new products each with its own brand name and all for a tangential market. D) width and depth extension In the brick-and-mortar retail universe, customer centricity is popular as well. D) private brand C) service inseparability A) Consumers may become confused about the image of the main brand. E) brand, ________ occurs when two established brand names of different companies are used on the same product. A) hamburger and cheeseburger Know who your competitors will be, know what price ranges there are, know what quality your competitors offer at what price, and know the collections, the colors, the materials, the marketing, the stories, and the pitches. The real essence of value revolves around the tradeoff between the benefits a customer receives from a product and the price he or she pays for it. However, customer centricity is usually a better bet, especially in the digital space, where switching costs for consumers can be pretty low. Reprint: R0409H Most executives today agree that . The recognition of a brand as a valuable asset is relatively recent. C) multibranding SEG said it has put its focus on improving the overall quality of the own-brand products offered across the four grocery brands in the Southeast, including the development of a test kitchen and sensory lab tasting facility at its Florida headquarters. Because so many purchase decisions are made in stores, a product's packaging may be a seller's last and best chance to influence consumers. Exclusively launched at Target in August 2017, California Roots has quickly become one of Target's best-selling wine brands. A market segment is less attractive when ________. D) Interactive marketing Weve already talked about viewing product segmentation as an expansion of your product line. Classic meets contemporary for timeless touches that add . A) buildings A) length E) augmented product, ________ contributes to a product's usefulness as well as to its looks. A) It can add new product lines, thus widening its product mix. This year, SEG had 25 private label products earning distinctions across multiple categories: The alignment allows them to ensure everyone is working toward the same goals. 2) Share a photo of you wearing your shirt on Instagram (or Facebook) and be entered for a chance to win a $10 gift card! 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