Ch. 15 Product Development and Supply Chain Management

Question 1

Intermediaries that do not take ownership of the goods they distribute.

Answer 1

agents/brokers

Question 2

A verbal and/or symbolic means of identifying a product.

Answer 2

brand

Question 3

The overall perception of a brand.

Answer 3

brand image

Question 4

A brand that cannot be spoken; a company logo.

Answer 4

brandmark

Question 5

A brand that can be spoken.

Answer 5

brand name

Question 6

The system of relationships established to guide the movement of a product.

Answer 6

channel of distribution

Question 7

Transportation intermediaries available for hire to the general public.

Answer 7

common carriers

Question 8

Transportation intermediaries that contract with individual shippers.

Answer 8

contract carriers

Question 9

The exclusive right of a creator to reproduce, publish, perform, display, or sell his or her own works.

Answer 9

copyright

Question 10

Registered protection for the appearance of a product and its inseparable parts.

Answer 10

design patent

Question 11

A distribution system without intermediaries.

Answer 11

direct channel

Question 12

The physical movement of products and the establishment of intermediary relationships to support such movement.

Answer 12

distribution

Question 13

A distribution system that involves more than one channel.

Answer 13

dual distribution

Question 14

A distribution system with one or more intermediaries.

Answer 14

indirect channel

Question 15

Intermediaries that take ownership of the goods they distribute.

Answer 15

merchant middlemen

Question 16

The registered, exclusive right of an inventor to make, use, or sell an invention.

Answer 16

patent

Question 17

The activities of distribution involved in the physical relocation of products.

Answer 17

physical distribution (LOGISTICS)

Question 18

Registered protection for any distinct, new variety of living plant.

Answer 18

plant patents

Question 19

Lines of transport owned by shippers.

Answer 19

private carriers

Question 20

A total bundle of satisfaction—whether a service, a good, or both—offered to consumers in an exchange transaction.

Answer 20

product

Question 21

The lowest common denominator in the product mix—the individual item.

Answer 21

product item

Question 22

A detailed picture of what happens to a specific product’s sales and profits over time.

Answer 22

product life cycle

Question 23

The sum of related individual product items.

Answer 23

product line

Question 24

The collection of a firm’s total product lines.

Answer 24

product mix

Question 25

The similarity of product lines in a product mix

Answer 25

product mix consistency

Question 26

The way in which the product component of the marketing mix is used to achieve a firm’s objectives.

Answer 26

product strategy

Question 27

A legal term indicating that a company has the exclusive right to use a brand to represent a service.

Answer 27

service mark

Question 28

A system of management through which a company integrates and coordinates the flows of materials and information needed to produce a product or service and deliver it to customers.

Answer 28

supply chain management

Question 29

A value-creating position that is likely to endure over time.

Answer 29

sustainable competitive advantage

Question 30

Companies that provide transportation and distribution services to firms that prefer to focus their efforts on their primary operations.

Answer 30

third-party logistics firms (3PLs)

Question 31

Elements of a firm’s distinctive image not protected by a trademark, patent, or copyright.

Answer 31

trade dress

Question 32

A legal term indicating that a firm has exclusive rights to use a brand to represent a product.

Answer 32

trademark

Question 33

Registered protection for a new or improved process, machine, manufactured product, or “composition of matter.”

Answer 33

utility patent

Question 34

A promise, written or unwritten, that a product will perform at a certain level or meet certain standards.

Answer 34

warranty