Chapter 8

Question 1

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

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

Customer experience

Answer 3

market offerings that offer a strong sensory or emotional component

Question 4

Convenience product

Answer 4

bought frequently, immediately, and with minimal comparison and buying effort

Question 5

Shopping product

Answer 5

usually compares attributes as suitability, quality, price, and style. Higher price

Question 6

Specialty product

Answer 6

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

Question 7

Unsought product

Answer 7

life insurance, funeral service…

Question 8

Industrial Product

Answer 8

bought by individuals and organizations for further processing or for use in conducting business

materials and parts
capital items
supplies and services

Question 9

Organization marketing

Answer 9

activities undertaken to create, maintain, or change the attitudes and behavior of target consumers towards an organization

Question 10

Person marketing

Answer 10

create, maintain or change the attitudes and bevahior of target consumers towards particular people

Question 11

Place marketing

Answer 11

activities taken to create, maintain or change the attitudes and bevahior of target consumers towards a particular place

Question 12

Social marketing

Answer 12

marketing concepts and tools to encourage behaviors that will create individual and societal well-being

no smoking ad

Question 13

Depth

Answer 13

number of versions offered of each product in the line

Question 14

Consistency

Answer 14

how closely the various product lines are

Question 15

Characteristics of a service

Answer 15

Intangibility: service cannot be seen, tasted, felt, heard, or smelled before purchase

Inseparability: services cannot be separated from their providers

Perishability: services cannot be stores for later sale or use

Variability: quality of services depends on who provides them and when, where, and how

Question 16

marketing tasks faced by service companies?

Answer 16

service differentiation, service quality, and service productivity

Question 17

Service profit chain

Answer 17

the chain that links service from profits with employee and customer satisfaction

Question 18

Internal marketing

Answer 18

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

Question 19

Interactive marketing

Answer 19

training service employees in the fine art of interacting with customers to satisfy their needs

Question 20

total quality management

Answer 20

all of the company people are involved in constantly improving the quality of products, services, and business processes

Question 21

return-on-quality

Answer 21

quality is an investment and holding quality efforts accountable for bottom-line results

Question 22

2 dimensions of product quality

Answer 22

level & consistency

Question 23

Style

Answer 23

appearance of the product

Question 24

Design

Answer 24

product’s usefulness and looks

Question 25

Brand

Answer 25

name, term, sign, symbol, design, or a combination of all that identifies the products or services and differentiates them from competitors

Question 26

Packaging

Answer 26

designing and producing the container or wrapper for a product

Question 27

Labels

Answer 27

Identify the product or brand, describe attributes, or provide promotion

Question 28

Product line

Answer 28

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 29

Product line length

Answer 29

number of items in a product line

Question 30

Line stretching

Answer 30

upward (higher end products)
downward (lower end products)

Question 31

Line filling

Answer 31

does not change price/quality

Question 32

Product mix

Answer 32

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

Question 33

Width

Answer 33

number of different product lines

Question 34

Length

Answer 34

number of items the company carries within its product lines

Question 35

Brand equity

Answer 35

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

Question 36

Four customer perception dimensions

Answer 36

differentiation (what makes it stand out)
relevance (how it meets their needs)
esteem (how consumers regard the brand)
knowledge (how much consumers know)

Question 37

3 levels marketers can positions brands at:

Answer 37

attributes
benefits
beliefs and values (strongest brand position)

Question 38

Manufacturer

Answer 38

brand is owned by them

Question 39

store brand

Answer 39

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

Question 40

licensing

Answer 40

the brand owner permits another company to use its brand name, logo, or identify for a fee (licensing fee)

Question 41

co-branding

Answer 41

practice of using established brands on the same product

Question 42

line extension

Answer 42

expanding existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category

Question 43

brand extension

Answer 43

extending an existing brand to new product categories

Question 44

multibrands

Answer 44

market many different brands in a given product category

Question 45

new brands

Answer 45

when a company creates a new brand name