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Post by Minal on Oct 25, 2015 23:17:53 GMT
In the introduction stage of the product life cycle, the major concern for the organization is: -To ensure the product or service is a quality offering
A hospital has a vast number of services such as cancer, orthopedics, women's health, neonatology, a vast primary care network, cardiology, a heart center, and a major trauma center. In terms of its product mix, this hospital would be said to have a: -Broad product line
In a skimming price strategy the organization tends to: -Set a high price relative to competing products or substitutable services
A multi-specialty clinic has established a surgi center, a rehab group, and a durable medical equipment company. All of these entities are under the name of the multi-specialty practice. This branding strategy would be: -Multi-product
Off label uses of pharmaceutical products would be considered an example of: - Market stretching
True or False? Over the course of the product life cycle, prices for a product or service tend to stabilize as competition enters. -False
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Post by Jono on Nov 22, 2015 8:06:42 GMT
1) Giving free samples to physicians as part of the diffusion of innovation trying to affect which factor of adoption? -Divisibility 2) Off label uses of pharmaceutical products would be considered an example of: -Market Stretching 3) In recent years, hospitals have moved to paying shift differentials for peak times in the operating room, this is an attempt to manage which of the following five I’s of services? -Inventory 4) One of the key advantages of a skimming strategy for service is that: -It can be useful to control demand until the organization is sure that processes are in place to handle flow
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Post by Tram on Dec 9, 2015 1:06:57 GMT
1. Using the same brand name across all the products or services in the organization's line is an example of which type of branding strategy? - Multi-branding
2. The difference between a durable and nondurable good is that the latter is consumed in a: - A defined time period
3. Off label uses of pharmaceutical products would be considered an example of: - Market stretching
4. True or False? In the industrial classification of goods, products that are used in the final part of a product are production goods. - False
5. True or False? The less sure and organization is of demand relative to capacity, the more likely it is to use a penetration pricing approach in the introduction stage of the product life cycle. -False
6. In the growth stage of the life cycle, the focus on the middleman becomes one of: - Solidifying loyalty
7. True or False? A large health system decides to provide pathology services for some small rural hospitals. Some of these hospitals have actually wanted it known that there is a relationship. The larger institution has their physicians wear lab coats that identifies both organizations' names. This approach is an example of a reseller branding strategy. - False
8. True or False? The major advantage of the product life cycle concept is that there is a standard life cycle by which all strategies can be formulated and developed. - False
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Post by Admin on Dec 14, 2015 12:12:03 GMT
A hospital has a vast number of services such as cancer, orthopedics, women's health, neonatology, a vast primary care network, cardiology, a heart center, and a major trauma center. In terms of its product mix, this hospital would be said to have a: -Broad product line
In a skimming price strategy the organization tends to: -Set a high price relative to competing products or substitutable services
A multi-specialty clinic has established a surgi center, a rehab group, and a durable medical equipment company. All of these entities are under the name of the multi-specialty practice. This branding strategy would be: -Multi-product
Off label uses of pharmaceutical products would be considered an example of: -Market stretching
Over the course of the product life cycle, prices for a product or service tend to stabilize as competition enters. -False
In the industrial classification of goods, products that are used in the final part of a product are production goods. -False
The diffusion of innovation describes: -The time when a new innovation is adopted in the population
In the growth stage of the life cycle, the focus on the middleman becomes one of: -Solidifying loyalty
Consumers who are very loyalty to a particular brand and will seek it out with great effort are displaying behavior common behavior common to a: -Specialty good
In the decline stage of the product life cycle, many organizations struggle with dropping an unprofitable service or product because: -It is often an emotional decision for the organization
To implement a penetration strategy an organization must have a good understanding of: -Its cost structure
The key sign that a product has entered the growth stage of the life cycle is that a competitor has entered the market. -True
The “bedside manner” of the physician underscores the inseparability aspect of services as a difference compared to products. -True
Robotic surgery has been affected in terms of its adoption because it is not compatible with values. -False
Over the course of the product life cycle, prices for a product or service tend to stabilize as competition enters. -False
The entire range of products or services offered by an organization is referred to as its product mix. -True
In the introduction stage of the product life cycle, the major concern for the organization is: -To ensure the product or service is a quality offering
Developing new product or service lines to reposition the organization to get back to enjoy future revenue streams should occur during which stage of the product life cycle? -Maturity
Off label uses of pharmaceutical products would be considered an example of: -Market stretching
Personal sales are more often used for ______, while advertising is more common for ____ goods. -Nondurable, durable
The major difference between innovators, early adopters, early majority, late majority and laggards is: -The time when they adopt a new product or service
In nondurable goods, personal sales are often a critical part of the promotional strategy. -False
An intravenous pump in a hospital would be considered a support good in the industrial classification of goods. -True
A skimming strategy tends to encourage competitors to enter the market. -True
MedCath Hospitals develops and establishes heart hospitals across the country. This approach is an example of a niche strategy. -True
The major advantage of the product life cycle concept is that there is a standard life cycle by which all strategies can be formulated and developed. -False
Because of the intangibility of services, the promotional challenge is to show: -How they really are tangible
When it is touted to “ Brush after every meal”, this is an example of: -Market modification
Which of the following is not one of the five I's of services: -Inconvenience
Adoption increases when the group of people considering the new technology is more similar. This is referred to as the dimension of: -Homophilious
Over the counter Tylenol would be an example of which type of product category? -Convenience
An MRI machine would be considered a durable good. -True Many hospitals has begun to drop inpatient pediatric beds as a harvesting strategy which is an indication of the decline stage of eh product life cycle of this service. -True
The intangible nature of services requires that promotion often requires showing their end use benefits. -True
The entire range of products or services offered by an organization is referred to as its product mix. -True
Loyalty of the middleman in the channel of distribution must be obtained in the introduction stage of the life cycle before competitors enter the market. -False
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Post by Dominique on Dec 14, 2015 15:19:53 GMT
When sales representatives call on physician practices to inform referral physicians of potential alternative practices that may meet their referral needs, they are helping with what type of “product”? Answer: Specialty
A major tertiary center has decided to generate significant revenue by staffing the laboratories of smaller hospitals in the region on a contractual basis. They have hired a large number of pathologists. However, as they place their pathologists in these local hospitals, there will be no identification with the major tertiary center. The pathologists and support staff that are provided will wear the lab coats of the local facility. The approach is an example of which brand strategy? Answer: Mixed
The stage a product goes through from introduction to its final withdrawal is referred to as the product life cycle. Answer: True
The key sign that a product has entered the growth stage of the life cycle is that competitor has entered the market Answer: True
A hospital has a vast number of services such as cancer, orthopedics, women’s health, neonatology, a vast primary care network, cardiology, a heart center, and a major trauma center. In terms of its product mix, this hospital would be said to have a: Answer: Broad product line
One of the key advantages of a skimming strategy for services is that: Answer: It can be useful to control demand until the organization is sure that processes are in place to handle flow
Aggressive price discounting is most common during which stage of the product life cycle? Answer: Decline
Off label uses of pharmacological products is an example of market modification programs. Answer: True
A large health system decides to provide pathology services for small rural hospitals. Some of these hospitals have actually wanted it known that there is a relationship. The larger institution has their physicians wear lab coats that identifies both organization’s names. This approach is an example of a reseller branding strategy. Answer: False
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