Question

In: Operations Management

41. A product is A. the physical and chemical attributes of something one can buy. B....

41. A product is

A. the physical and chemical attributes of something one can buy.

B. whatever the seller says it is.

C. a bundle of physical, service, and symbolic attributes designed to satisfy a customer=s wants and needs.

D. a thing that=s impossible to define, since everyone sees them differently.

38. A firm should attempt to drive down logistics costs as long as it can deliver expected __________.
A. balance sheet results
B. customer service
C. low levels of expenses
D. product-market synergies
E. target market goals

39. Distinguishing services from goods, all of the following are correct except

A. services are intangible.

B. services are inseparable from service providers.

C. services are easy to standardize.

D. services are perishable.

36. Ford owns several brands including Ford, Mercury, Volvo, Jaguar, and Mazda. If one assumes that these are the only brands Ford owns, all products within these brands constitute Ford’s

a. product line.

b. product cluster.

c. product mix.

d. product concept.

34. When a producer or manufacturer owns/buys an intermediary at the next level down in the marketing channel, it is referred to as __________.
A. horizontal integration
B. forward integration
C. parallel integration
D. lateral integration
E. backward integration

Expert Solution

41. C). A Product is a bundle of physical, service and symbolic attributes designed to satisfy customers wants and needs.: A product is a collection of features both tangible and intangible to satisfy the needs and wants of customers. A Product is a bundle of utilities , it is manufactured for meeting and satisfying the commercial and personal needs .All the marketing efforts are in accordance with the needs and expectation of the target customers.

38. B). A Firm should attempt to drive down logistics cost as long as it can deliver expected customer sevice. Logistics cost involves total cost of transportion in the process of supply chain or business delivery function. The two major focus are enhanced customer service quality and improved efficiency of trasportation system. Logistic cost is a major component of supply chain cost therefore reduction of logistic cost for delivering improved customer service.

39. C). In the question : Distinguish the services from goods, all of the following are correct except Services are easy to standardize. Inseparability of service from the suppliers, perishability and intangibility are the features of services . The quality of services depends on the source or person delivering it so eventhough it is possible to set standard it is not easy to set. Services are customized and the quality can be determined only after receiving the service.

36. A). Ford owns several brands including ford, mercury, volvo, jaguar, and mazda. If one assumes that these are only brands ford owns , all the products within these brands constitute Ford's product line . Product mix of the Ford includes trucks, automobiles, tractors etc. Since ford , mercury , jaguar and mazda are the Brands owned by Ford , the products under these brands are product line for ford as it is group of products that are closely related. For example the products under the brand Jaguar are closely related and focused on the same customer group .

34. B ).When a producer or manufacturer owns or buy an intermediary at the next level down in the marketing channel, it is referred to as Forward integration . For example when a cloth manufacturer buys or owns the distributor in the next level of supply chain channel. It is owning a level or business further up in the marketing channel. Forward integration is a classification under vertical integration. Backward integration is owning the previous level that is when the wholesaler owns or buys the distributor or agent.

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