H. 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, 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

Convenience product

Answer 4

A consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort.

Question 5

Shopping product

Answer 5

A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitability, quality, price and style.

Question 6

Specialty product

Answer 6

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

Question 7

Unsought product

Answer 7

A consumer product that the consumer either does not know about or knows about but does not normally consider buying.

Question 8

Industrial product

Answer 8

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

Question 9

Social marketing

Answer 9

The use of traditional business marketing concepts and tools to encourage behaviors that will create individual and societal well-being.

Question 10

Product quality

Answer 10

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

Question 11

Brand

Answer 11

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.

Question 12

Packaging

Answer 12

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

Question 13

Product line

Answer 13

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

Question 14

Service intangibility

Answer 14

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

Question 15

Service inseparability

Answer 15

Services are produced and consumed at the same time and cannot be separated from their providers.

Question 16

Service variability

Answer 16

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

Question 17

Service perishability

Answer 17

Services cannot be stored for later sale or use.

Question 18

Service profit chain

Answer 18

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

Question 19

Internal marketing

Answer 19

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

Question 20

Interactive marketing

Answer 20

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

Question 21

Brand equity

Answer 21

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

Question 22

Brand value

Answer 22

The total financial value of a brand.

Question 23

Store brand (or private brand)

Answer 23

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

Question 24

Co-branding

Answer 24

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

Question 25

Line extension

Answer 25

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

Question 26

Brand extension

Answer 26

Extending an existing brand name to new product categories.