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Set 2

Mix
The particular assortment of products a business offers to meet market needs and company goals is its product
Item
Each individual good,services or idea a business offers for sale is known as a product
Kraft convenience foods
Which of the following is an example of a product line:
Customer group
Which of the following is a way a business can set up a product line.
Width
The number of a product lines a company carries is referred to as
Depth
The number of products and the assortment of sizes , colors, and models offered in products lines is referred to as
End use
Which of the following is one of the elements included in judging the consistency of a company’s product lines
Discount store
Which of the following is an example of business with a broad product mix.
Deep
A business that offers a great many items in a product lines has a _____ product mix
To allow the company to specialize
Which of the following is a reason for a business to have a narrow product mix
To promote one-stop shopping
Why would a business use a broad product mix?
To compete effectively
Which of the following is a reason for a business to offer a deep product mix:
To control costs
Why would a business use a shallow product mix?
Decreases marketing costs
Selecting the product mix is an important decisions for a business for all of these reasons except that it
Expansion
A salon recently added nails services to its product mix. This strategy is called
To satisfy customers desires for variety
Which of the following is a reason for a business to add product items or lines to its product mix
Contraction
A product mix strategy in which a business removes, or deletes, product items or lines from its product mix is
To avoid legal liabilities
Why would a business removes or delete product items or lines from its product mix?
Alteration
A product mix strategy in which a business redesigns its product is
To keep up with changing consumer preferences
Which of the following is a reason that a business would make changed to its products
Trading up
A product mix strategy in which a business adds a higher priced product or line to its product mix is
To enhance the image pf the company
Why would a business add higher priced products to its product mix?
Sales established products may decline
Which of the following is a disadvantages associated with the addition of a higher priced product line to a company product mix
Trading down
A product mix strategy in which a business adds a lower priced product or line to its product mix is
The company’s reputation ay be damaged
Which of the following is a disadvantage associated with the addition of a lower priced or line to a company’s product mix.

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