Chapter 13

Question 1

What is a product?

Answer 1

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

Question 2

Do products include more than just tangible objects?

Answer 2

WHEN BROADLY DEFINED, products also include services, events, persons, places, organizations, and ideas or a
mixture of these

Question 3

What are examples of tangible objects?

Answer 3

Cars, clothing, or mobile phones

Apple iPhone, a Toyota Camry, and a Caffé Mocha at Starbucks are products

Question 4

Give examples of products (when broadly defined) that aren’t tangible objects.

Answer 4

Trip to Las Vegas, TD online investment services, your Instagram account, and advice from your family doctor.

Question 5

Why do we give special attention to services?

Answer 5

Because of their importance in the world economy

Question 6

What are services?

Answer 6

An activity, benefit, or satisfaction
offered for sale that is essentially
intangible and does not result in
the ownership of anything.

Question 7

What are examples of services?

Answer 7

Banking, hotel, airline travel, retail, wireless communication, and home-repair services

Question 8

What is the starting point of marketing mix planning?

Answer 8

Building an offering that brings value to target customers.

Question 9

What is a key element in the overall market offering?

Answer 9

Products

Question 10

What is the foundation of profitable customer relationships?

Answer 10

The company’s market offering, which delivers value to customers.

Question 11

What elements can a company’s market offering include?

Answer 11

Both tangible goods and services.

Question 12

What approaches can company’s take when offering goods & services?

Answer 12

1. Pure tangible goods
2. Pure services
3. Usually many good and services combinations possible

Question 13

What does it mean when a market offer consists of pure tangible goods?

Answer 13

Such as soap, tooth-paste, or salt; no services accompany the product

Question 14

What does it mean when a market offer consists of pure services?

Answer 14

For which the market offer consists primarily of a service. Examples include a doctor’s exam and financial services

Question 15

What new level in creating value for their customers, are companies moving to?

Answer 15

Beyond simply making products and delivering services, they’re creating and managing CUSTOMER EXPERIENCES with their brands or companies

Question 16

Why are companies focusing on creating customer experiences?

Answer 16

To differentiate their offers as products and services become more commoditized

Question 17

True or false: Experiences haven’t always been an important part of marketing for some companies

Answer 17

False: They HAVE

Question 18

How does Disney incorporate experiences into its marketing?

Answer 18

By manufacturing dreams and memories through movies and theme parks, delivering “small wows” to customers.

Question 19

How does Nike incorporate experiences into its marketing?

Answer 19

“It’s not so much the shoes but where they take you,” focusing on the experience and inspiration rather than just the product.

Question 20

How are firms evolving their traditional goods and services?

Answer 20

Are recasting their traditional goods and services to create experiences

Question 21

What are the 3 levels of PRODUCT?

Answer 21

1. Core customer value
2. Actual product
3. Augmented product

Question 22

At the most basic level, the company asks, “What is the customer really buying?”
Give an example of this ideology.

Answer 22

Ppl who buy Apple iPad are buying more than just a tablet computer. They are buying: entertainment, self-expression, productivity, and connectivity—a mobile and personal window to the world

Question 23

What question does the most basic level (CORE CUSTOMER VALUE), address?