Chapter Questions
List the tangible and intangible attributes of a pair of Nike athletic shoes. Compare its benefits with those of an intangible product, such as hairstyling in a salon.
A product has been referred to as a "psychological bundle of satisfaction." Is this a good definition of a product? Why or why not?
Is a personal computer sold at a retail store a consumer product or a business product? Defend your answer.
How do convenience products and shopping products differ? What are the distinguishing characteristics of each type of product?
In the category of business products, how do component parts differ from process materials?
How does an organization's product mix relate to its development of a product line? When should an enterpriseadd depth to its product lines rather than width to its product mix?
How do industry profits change as a product moves through the four stages of its life cycle?
What is the relationship between the concepts of product mix and product life cycle?
What are the stages in the product adoption process, and how do they affect the commercialization phase?
What are the five major adopter categories describing the length of time required for a consumer to adopt a new product, and what are the characteristics of each?
In what ways does the marketing strategy for a mature product differ from the marketing strategy for a growth product?
What are the major reasons for new-product failure?