Product management chapter 5- session 6

Question 1

what is a product

Answer 1

A product is a basket of attributes (features, function, benefits, uses and experiences) that generally combine tangible and intangible forms

Question 2

what type of form is a touch screen from a cellphone

Answer 2

Tangible form

Question 3

What type of form is a reliable service from a cellphone service provider

Answer 3

intangible form

Question 4

Is the core benefits differe from one person to another. Is so, why

Answer 4

Yes since people buying a product are looking to an internal advantages that motivate them to buy such as: utility of the product itself, self rewarding, prestige, reconnaissance.

Question 5

What kind of variation can we see in the minimal form

Answer 5

Beyond a product’s core benefit and usual form, consumers’ expectations are flexible and evolve over time. Example: a car is still a car with/without an intangible consumer service or warranty.

Question 6

What are prestige, reputation and quality examples of

Answer 6

Added-value. (chose que le prof de mkt n’a pas..) Augmented element (or added-value) consist of product design and packaging, quality and brand.

Question 7

What is a line extension

Answer 7

A new product launched within an existing product category-
a new size of an existing product, a new flavour, a new model.

ex: nouvelle pate a dent spiderman de crest, (p&g exsit, crest exist, product exist but new flavour)

Question 8

Give example of A product line

Answer 8

Is a set of products (toothpaste) in the same category marketed by a company (Procter and gamble) to a given market ..–> satisfy one need

Question 9

Give an example of Product mix

Answer 9

Refers to all the product lines (shampoo, deodorant, toothpaste) offered by one company (p&G)

Question 10

What kind of add-value does Apple possess

Answer 10

Product design, (aesthetic)

Question 11

Why does commitment to quality and durability to important in a product quality?

Answer 11

Because consumer will follow the brand or the product, to always have the best product available, ex: apple.

Question 12

Give examples of factors that might affect the product quality perception of a consumer

Answer 12

Country and origin. ex: silk scarf signed made in italy vs. made in china.

Question 13

What is a symbol or special feature example of

Answer 13

These are examples of an added-value of branding.

Question 14

Tia maria is an example of what type of brand

Answer 14

Product brand

Question 15

General motors is an example of what type of brand?

Answer 15

Family brand

Question 16

L’oréal is an example of what type of brand

Answer 16

individual brand

Question 17

What is a line Brand

Answer 17

one brand with similar product; with example different packaging but one product

Question 18

Apart distinguishing from competition, what functions brands can have?

Answer 18

add a symbol of belonging, promise to meet specifics expectations, convenience.

Question 19

When is brand equity exists

Answer 19

when the brand is able to create loyalty among customers

• awareness
• positive and unique association

Question 20

Why would an existing company create a new brand instead of using its existing one

Answer 20

many reasons including the association and confusion it would create

Question 21

What is the most popular branding strategy

Answer 21

Brand extension

Question 22

what is brand extension

Answer 22

launching a new product under an exiting brand name, ex: virgin airline, weight watcher frozen entrée

Question 23

What are the 3 steps involved in developing a new product

Answer 23

• idea generation
• Testing
• Launch

Question 24

what are the mkt strategy in each phase of product development

Answer 24

1-launch: promotion to innovators
2- growth :boost product; ex. customer service, offer complementary product
3-maturity: reduce prices, modify product.
5- Decline: stop all efforts

Question 25

What are the 3 main dimensions of a product (layers)

Answer 25

Core benefits: reason why a customer buy and use the product
Form: physical product and expectation about the product
Value added: extra benefits that differentiate a product

Question 26

What is a product Brand

Answer 26

The brand (name tag) is the product: TIA MARIA

Question 27

What is a line brand

Answer 27

One brand with similar product (ex: prerrier)

Question 28

What is Individual brand (range brand or branded house)

Answer 28

One brand (name), who offers diffrent product. L’oréal

Question 29

What is a family brand

Answer 29

One main brand with sub brand

Nestlea, GM

Question 30

What is a private brand

Answer 30

It is a brand that retail or distribute its own product, or buy a no name product and put its own brand on it. less valued product.

Question 31

What is a Designer brand

Answer 31

Product Designed for/by the brand, company;

Calvein Klein, Chanel

Question 32

What is a Generic brand

Answer 32

A No name brand, offer low price and standard product.

Question 33

What is Co-branding

Answer 33

2 brand together that make one product:

McDonald and McCafe

Question 34

What are the 4 strategic branding decision (ansof lookalike)

Answer 34

• Line extension
• Brand extension
• Multibrand
• New Brand

Question 35

What ise Multi brand strategic decison

Answer 35

new brand name with existing product category

Question 36

What is new brand strategic decison

Answer 36

new brand name and new product category Ex: lexus