8. Product, Services and Branding Strategy

Question 0

Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything

Answer 0

Service

Question 1

Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or a need

Answer 1

Product

Question 2

Most basic level of products and services

Addresses the question of what is the buyer really buying?

Answer 2

Core customer value

Question 3

The second level of products and services where product planners develop product and service features, design, a quality level, a brand name and packaging

Answer 3

Actual product

Question 4

Additional consumer services and benefits around the core benefit and actual product

Answer 4

Augmented product

Question 5

Product bought by final consumer for personal consumption

Answer 5

Consumer product

Question 6

Consumer product that the customer usually buys frequently, immediately and with minimum comparison and buying effort

Answer 6

Convenience product

Question 7

Consumer product that the customer, in the process of selection and purchase, characteristically compares in bases such as suitability, quality, price and style

Answer 7

Shopping product

Question 8

Consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort

Answer 8

Speciality product

Question 9

Consumer product that the consumer either does not know about or knows about but does not normally think of buying

Answer 9

Unsought product

Question 10

Product bought by individuals and organisations for further processing or for use in conducting a business

e.g. materials and parts, capital items, supplies and services

Answer 10

Industrial product

Question 11

The use of commercial marketing concepts and tools in programs designed to influence individual’s behaviour to improve on their well-being and that of society

Answer 11

Social marketing

Question 12

The important decisions in he development and marketing of individual products

e.g. decisions about product attributes, branding, packaging, labelling and product support services

Answer 12

Individual product decisions

Question 13

The characteristics of a product or service that best on its ability to satisfy stated or implied customer needs

Answer 13

Product quality

Question 14

A name, term, sign, symbol or design, or a combination of these that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors

Answer 14

Brand

Question 15

The activities of designing and producing the container or wrapper for a product

Answer 15

Packaging

Question 16

A group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types if outlets or fall within given price ranges

Answer 16

Product line

Question 17

The set of all product lines and items that a particular seller offers to use

Answer 17

Product mix (or product portfolio)

Question 18

The positives differential effect that knowing the brand name has on customer response to the product and service

Answer 18

Brand equity

Question 19

Brand positioning
Brand name selection
Brand sponsorship
Brand development

Answer 19

Major brand strategy decisions

Question 20

A brand created and owned by a reseller of a product or service

Answer 20

Private brand (or store brand)

Question 21

The practice of using the established brand names of two different companies on the same product

Answer 21

Co-branding

Question 22

What are the four choices of brand development?

Answer 22

Line extensions
Brand extensions
Multibrands
New brands

Question 23

Extending an existing brand name to new forms, colours, sizes, ingredients or flavours of an existing product category

Answer 23

Line extension

Question 24

Extending an existing brand name to new product categories

Answer 24

Brand extension

Question 25

Additional brands in the same category

Answer 25

Multibrands

Question 26

Services that cannot be seen, tasted, felt, heard or smelled before they are bought

Answer 26

Service intangibility

Question 27

What are the four special service characteristics when designing marketing programs

Answer 27

Intangibility
Inseparability
Variability
Perishability

Question 28

A services are products and consumed at the same time and cannot be separated from their providers

Answer 28

Service inseparability

Question 29

The quality of services may vary greatly, depending on who provides them and when, where and how

Answer 29

Service variability

Question 30

Services cannot be stored for later sale or use

Answer 30

Service perishability

Question 31

The chain that links service form profits with employer and customer satisfaction

Consists of five links, namely internal service quality, satisfied and productive service employees, greater service value, satisfied and loyal customers, and healthy service profits

Answer 31

Service-profit chain

Question 32

Orienting and motivating customer-contact employees and the supporting service people to work as a team to provide customer satisfaction

Answer 32

Internal marketing

Question 33

Straining service employees is the fine art of interacting with customers to satisfy their needs

Answer 33

Interactive marketing