Chapter 7

Question 1

Product

Answer 1

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

Question 2

Service

Answer 2

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

Question 3

Consumer product

Answer 3

A product bought by final consumers for personal consumption

Question 4

Industrial products

Answer 4

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

Question 5

Social marketing

Answer 5

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

Question 6

Product quality

Answer 6

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

Question 7

Brand

Answer 7

A name, term, sign, symbol, 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

Question 8

Packaging

Answer 8

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

Question 9

Product line

Answer 9

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 of outlets, or fall within given price ranges

Question 10

Product mix (or product portfolio)

Answer 10

The set of all product lines and items that a particular seller offers for sale

Question 11

Service intangibility

Answer 11

A major characteristic of services - they cannot be seen, tasted, felt heard or smelled before they are bought

Question 12

Service inseparability

Answer 12

A major characteristic of services - they are produced and consumed at the same time and cannot be separated from their providers

Question 13

Service variability

Answer 13

A major characteristic of services - their quality may vary greatly, depending on who provides them and when, where and how

Question 14

Service perishability

Answer 14

A major characteristic of services - they cannot be stored for later sale or use

Question 15

Service-profit chain

Answer 15

The chain that links service firm profits with employee and customer satisfaction

Question 16

Internal marketing

Answer 16

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

Question 17

Frontline marketing

Answer 17

Interacting with customers and others in the marketing channel on a one-to-one basis in person or remotely via digital technologies

Question 18

Brand equity

Answer 18

The differential effect that knowing the brand name has on customer response to the product or its marketing

Question 19

Store brand (or private brand)

Answer 19

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

Question 20

Co-branding

Answer 20

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

Question 21

Line extension

Answer 21

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

Question 22

Brand extension

Answer 22

Extending an existing brand name to new product categories