Chapter 11 Product and Service Strategies

MATCHING Match each item with the correct statement below. a. b. c. d. e. f. g. marketing mix benchmarking product convenience product shopping product specialty product product line h. i. j. k. l. m. n. product mix unsought product maturity stage raw materials total quality management product lifecycle installations

1. The __A___ is the blending of the four strategy elements to fit the needs and preferences of a target market. 2. A bundle of physical, service, and symbolic attributes is a(n) __C___. 3. A product that is purchased frequently, immediately, and with minimal effort is classified as a(n) _D____. 4. A(n) __I___ is marketed to consumers who may not yet recognize the need for it. 5. A product that a consumer purchases after comparing competing offerings is called a(n) _E____. 6. A(n) _F____ offers unique characteristics that cause buyers to prize those particular brands. 7. The specialty products of the business market are called _____. 8. Farm products and mineral products are examples of _K____. 9. __L___ is a continuous effort to improve products and work processes. 10. Firms often rely on _B____ to set performance standards and achieve superior performance resulting in a competitive advantage in the marketplace. 11. A series of related products offered by one company is a(n) _G____. 12. Assortment of product offerings sold by a firm is called the _H____. 13. The four stages that a product will progress through is called the __M___. 14. Sales of a product category continue to grow during the early part of the __J___, but eventually reach a plateau as the backlog of potential customers dwindles.