PAZARLAMA YÖNETİMİ - Deneme Sınavı - 6

Possession utility is the value consumers put on buying a product and having the freedom to use the product.

“A push strategy is particularly applicable when there is low brand loyalty whereas a pull strategy is especially appropriate when there is high brand loyalty and high involvement in the category, when consumers are able to receive differences between brands, and when they chose the brand before they go to store”.

Accumulation refers to bringing together similar inventory from a number of sources into a larger homogeneous supply.

Generally, it is easier to operate for companies by making use of the extensive network of privately owned distribution organizations. Manufacturers obtain a number of benefits by using a variety of intermediaries. Routinization of transactions made by the intermediaries in purchasing goods and services leads to standardization of goods and services whose performance characteristics can be compared and assessed easily, which results in efficiencies in the execution of channel activities. Intermediaries reduce the number of contacts and the transactions.

The ownership channel includes transferring of the title to the goods.

A direct marketing channel, also named as a zero-level channel, is the shortest and simplest of distribution channels, and it does not contain any intermediary manufacturer and consumer.

Each distribution channel system produces five main service outputs:

Lot size: The number of units the channel permits a typical customer. In another words, it is ability of channel to procure small quantities.

Waiting and delivery time: The average time customers wait for receiving goods

Spatial convenience: The degree to which the marketing channel makes it easy for customer to buy the product. It includes proximity of goods to buyer and associated convenience.

Product variety: The assortment provided by the channel. Normally, customers prefer a greater assortment since more choices increase the chance of finding what they need.

Service back-up: Add-on services such as credit, delivery, installation, repairs, etc. are provided by the channel. The greater the service backs up, the greater the channel performs the work.

If the manufacturer’s existing sales force is small and how to reach these markets effectively is a problem, the following channel alternatives can be used:

Expanding the manufacturer’s sales force, hiring manufacturer’s agents,

Finding distributers in different regions or industries to sell the product,

Using many different types of intermediaries in a channel provides both benefits and difficulties.

Direct and indirect channels competing with each other for many of the same customers may cause potential conflict.

Disadvantages of of using third party logistics service providers:

Loss of control over the logistics function

Impact on in-house workforce

More distance from clients-loss of personal touch

Discontinuity of services of a 3PL provider

Differences of opinion or perception of the service level of the 3PL provider

A core product is the fundamental need or want that consumers satisfy by consuming the product or service. In another words, a core product is what customer is really buying. For example, the core product of a restaurant is food. The core product of a hotel is rest and sleep. The core product of a book is information. The correct answer is A.

An augmented product is the inclusion of additional features, benefits, attributes or related services that serve to differentiate the product from its competitors. For example, the hotel can provide a free map of the town in every room, remote-control satellite TV and prompt checkin and checkout. The correct answer is E.

An expected product is about all aspects the consumer expects to get when he/she purchases a product. For instance, hotel customers expect a clean bed, fresh towels and a degree of quietness. The correct answer is D.

A potential product includes all augmentations and transformations the product might undergo in the future. In simple language, this means that the product must be augmented to continue surprising and pleasing customers. In our hotel example, this could mean a different gift placed in the room each time a customer stays. The correct answer is C.

Item or Product Variant A distinct unit within a brand or a product line distinguishable by size, price, appearance or some other attributes. The correct answer is B.

Services are intangible, inseparable, variable, and perishable products that normally require more quality control, supplier credibility and adaptability. Examples include healthcare, travel, financial services. The correct answer is B.

Emergency products are purchased when a need is urgent, for example; umbrellas or raincoats during a rainstorm. Customers do not mind the higher prices charged for these purchases because they think of them as “emergencies”. The correct answer is E.

In the maturity stage, the product achieves as much as it is going to. This is probably the most competitive time for most products and businesses need to invest wisely in any marketing efforts they undertake. At this stage, there is likely to be heavy price competition and increased marketing expenditure from all competitors in order to retain brand loyalty. The product has achieved acceptance by most potential buyers, so during this period there is a slowdown in sales growth. The correct answer is A.

In the decline stage, the product reaches its saturation point, new products replace the old. In this case, the price can start increasing, though the number of sales will decline. In this phase, a decision is needed: whether to continue with the product with significant changes or to move onto another product altogether. Not all products follow all five stages of the product life cycle. Some products are introduced and die quickly; others stay in the mature stage for a long, long time. It seems that a well-managed brand could live forever31. The correct answer is D.

The steps in the adoption process include29:

(1) Awareness stage: The consumer becomes aware of the innovation but lacks information about it.

(2) Interest stage: The consumer is stimulated to seek information about the innovation.

(3) Evaluation stage: The consumer considers whether to try the innovation.

(4) Trial stage: The consumer tries the innovation to improve his or her estimate of its value.

(5) Adoption stage: The consumer decides to make full and regular use of the innovation.

The correct answer is C.