Consider this dilemma: A product manager finds that organizational buyers view a particular product attribute as being both important and differentiating; unfortunately, the firm's brand is viewed as being inferior to competing brands on this attribute. In this situation, an appropriate generic strategy for the product manager to follow would be to:
A) increase the importance of the attribute to customers.
B) increase the difference between the competition and the firm's brand.
C) convert this determinant attribute into a non-determinant one.
D) all of the answer choices.
E) both increase the importance of the attribute to customers and increase the difference between the competition and the firm's brand.
Question 2If organizational buyers view a particular attribute as being neither important nor differentiating, an appropriate generic strategy for a product manager to follow would be to:
A) increase the importance of the attribute to customers.
B) increase the difference between the competition and the firm's brand.
C) convert this determinant attribute into a non-determinant one.
D) all of the answer choices
E) both increase the importance of the attribute to customers and increase the difference between the competition and the firm's brand.
Question 3St. Louis Capital Equipment Company found that organizational buyers view reliability as being important in the purchase of a machine tool. In turn, research indicates that a new model recently introduced by the firm is viewed by organizational buyers as being superior to competing brands on the reliability dimension. Thus, reliability would be classified as a _____ attribute.
A) primary
B) star
C) dominant
D) determinant
E) focal
Question 4Because organizational buyers perceive products as bundles of attributes, the product strategist should examine the attributes that assume a central role in buying decisions. Attributes that are both important and differentiating are called:
A) primary attributes.
B) star attributes.
C) determinant attributes.
D) quality attributes.
E) dominant attributes.
Question 5All of the following are dimensions relevant to the definition of a product-market except:
A) customer function.
B) technological.
C) customer segment.
D) physical distribution system.
E) value-added system.
Question 6Which of the following dimensions of a product market definition is(are) relevant?
A) the alternative technologies available to satisfy a particular need (technology dimension)
B) the sequence of stages along which competitors serving the market can operate (value-added system dimension)
C) the customer groups that have needs that must be served (customer segment dimension)
D) all of the answer choices
E) both the alternative technologies available to satisfy a particular need (technology dimension) and the customer groups that have needs that must be served (customer segment dimension)
Question 7_____ represents the place that a product occupies in a particular market; it is found by measuring organizational buyers' perceptions and preferences for a product in relation to its competitors.
A) Product positioning
B) Product anchor
C) Product determinacy
D) Product segment
E) Product attribute
Question 8A lathe manufacturer that offers a line of products in different sizes, with a range of options (such as different motor sizes) and accessories for different applications is a producer of:
A) custom-designed items.
B) services.
C) catalog items.
D) custom-built items.
E) proprietary items.
Question 9When the buyer is purchasing a company's capability in a particular area, such as maintenance or machine repair, the customer is buying:
A) a catalog item.
B) an industrial service.
C) a custom-designed item.
D) a generic product class.
E) a specialty item.
Question 10Industrial product lines that are offered only in certain configurations and are produced in anticipation of orders are called:
A) custom-designed items.
B) services.
C) catalog items.
D) custom-built items.
E) component items.
Question 11Industrial product lines that are created to meet the needs of one or a small group of customers are defined as:
A) custom-built items.
B) catalog items.
C) proprietary items.
D) custom-designed items.
E) component items.
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