Marketing CHAPTER 8 PRODUCTS, SERVICES AND BRANDS

Question 1

What is a cult brand

Answer 1

a cult brand is a company or product that has an extremely dedicated and passionate fan following. These brands create a strong sense of loyalty and community among their customers.

Question 2

What is a product

Answer 2

Product is anything that can be offered in a
market for attention, acquisition, use, or
consumption that might satisfy a need or
want

Question 3

What is a service

Answer 3

Services are a form of product that consists
of activities, benefits, or satisfactions and that
is essentially intangible and does not result in
the ownership of anything

Question 4

Organization marketing

Answer 4

consists of activities undertaken to
create, maintain, or change the attitudes and behaviours of
target consumers toward an organization.

Question 5

Person marketing

Answer 5

consists of activities undertaken to
create, maintain, or change the attitudes or behaviour of
target consumers toward particular people.

Question 6

Place marketing

Answer 6

consists of activities undertaken to create, maintain,
or change attitudes and behavior toward particular places.

Question 7

Social marketing

Answer 7

uses commercial marketing concepts to influence
individuals’ behavior to improve their well-being and that of society.

Question 8

Industrial products

Answer 8

are products purchased for further
processing or for use in conducting a business.
* Classified by the purpose for which the product is purchased
– Materials and parts
– Capital
– Raw materials

Question 9

Materials and parts,Capital items, Supplies and services

Answer 9

include raw materials and
manufactured materials and parts.
are industrial products that aid in the
buyer’s production or operations.
include operating supplies,
repair and maintenance items, and business
services.

Question 10

Consumer products

Answer 10

are products and services bought by
final consumers for personal consumption.
* Convenience products
* Shopping products
* Specialty products
* Unsought products
* look at PP pg26

Question 11

Convenience products

Answer 11

are consumer products and
services that the customer usually buys frequently,
immediately, and with a minimum comparison and buying
effort.
* Newspapers
* Candy
* Fast food

Question 12

Shopping products

Answer 12

are less frequently purchased
consumer products and services that the customer
compares carefully on suitability, quality, price, and style.
* Furniture
* Cars
* Appliances

Question 13

Specialty products

Answer 13

are consumer
products and services with unique
characteristics or brand identification for
which a significant group of buyers is
willing to make a special purchase effort.
* Medical services
* Designer clothes
* High-end electronics

Question 14

Unsought products

Answer 14

are consumer
products that the consumer does not
know about or knows about but does
not normally think of buying.
* Life insurance
* Funeral services
* Blood donations

Question 15

Individual Product and Service Decisions

Answer 15

Product or service attributes communicate and deliver the benefits.
* Quality
* Features
* Style and design

Question 16

Product quality

Answer 16

• Product quality refers to the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.
  – Product quality level is the level of quality that supports the
  product’s positioning.
  – Product conformance quality s the product’s freedom from defects and consistency in delivering a targeted level of performance

Question 17

Product Features

Answer 17

– Competitive tool for differentiating a product from
competitors’ products
– Assessed based on the value to the customer versus
its cost to the company

Question 18

Design and style

Answer 18

• Design contributes to a product’s usefulness as well as to its looks.
• Style describes the appearance of the product.

Question 19

Branding

Answer 19

Brand is the name, term, sign or design—or a combination of
these—that identifies the maker or seller of a product or service.

Question 20

packaging and labelling

Answer 20

1. Packaging involves designing and producing the container or
   wrapper for a product.
2. Labels identify the product or brand, describe attributes, and
   provide promotion.

Question 21

Packaging

Answer 21

Packaging
▪ Commercially attractive
▪ Information
▪ Protection
▪ Low transport costs
▪ Easy to display
▪ Use of energy and materials
▪ Needs to create and form an image
iconic part of the brand
tell a story
radiate an image
merchandising

Question 22

Labelling

Answer 22

identification, usage, legal…
nutrition, sourcing, ethics…

Question 23

Product support services

Answer 23

Product support services augment actual products.
▪ Customer service: is another element of product strategy.
▪ A company’s offer usually includes some product support services, which can be a minor part or a major part of the total offering.
▪ Support services are an important part of the customer’s overall brand experience.
▪ Keeping customers happy after the sale is the key to building lasting relationships.

Question 24

Product Line Decisions

Answer 24

Product line is 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 25

Product line length

Answer 25

Product line length is the number of items in the product line.
* Line filling
– Adding more items within the present range of the line
– Consumer need, extra profits, plugging holes to keep out competitors.
* Line stretching
– Occurs when a company lengthens its product line beyond its current range − downward, upward, or both ways
– Difficult to execute under the same brand name

Question 26

Product mix

Answer 26

Product mix consists of all the product lines and items that a
particular seller offers for sale.
* Width: number of different product lines the company carries
* Length: number of items the company carries within its product lines.
* Depth: number of versions offered of each product in the line.
* Consistency: closely the various product lines are in end use, production requirements, or distribution channels

Question 27

BRAND BUILDING

Brand Equity and Brand Value

Answer 27

Brand equity is the effect that knowing the brand name has on customer response to the product or its marketing.

Brand value is the total financial value of a brand.

Question 28

BRAND BUILDING:Major Brand Strategy Decisions

Brand Positioning

Answer 28

Marketers can position brands at any of three levels.
* Attributes
* Benefits
* Beliefs and values
Brand positioning: Brands like Disney form strong emotional connections with customers. Says one Disney World Resort regular: ““I have a deep love and bond to all things Disney.”

Question 29

BRAND BUILDING:Major Brand Strategy Decisions

Brand Name Selection

Answer 29

1. Suggests benefits and qualities
2. Easy to pronounce, recognize, and remember
3. Distinctive
4. Extendable
5. Translatable for the global economy
6. Capable of registration and legal protection

Question 30

BRAND BUILDING:Major Brand Strategy Decisions

Building Strong Brands – Options

Answer 30

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