Products, Services, and Brands

Question 1

Product

Answer 1

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

Question 2

Service

Answer 2

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

Question 3

Products, Services, and Experiences

Answer 3

Products and services are becoming more commoditized.

Companies are now creating and managing customer experiences with their brands or company.

Question 4

Levels of Product and Services

Answer 4

Actual product
= Brand name
= Quality lvl
= Packaging
= Design
= Features

Augmented product
= Delivery and credit
= Product support
= Warranty
= After-sale service

Question 5

(Product and Service Classifications)

Consumer products

Answer 5

are products and services bought by final consumers for personal consumption.
•Convenience products
•Shopping products
•Specialty products
•Unsought products

Question 6

(Product and Service Classifications)

Convenience products

Answer 6

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 7

(Product and Service Classifications)

Shopping products

Answer 7

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

Question 8

(Product and Service Classifications)

Specialty products

Answer 8

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 9

(Product and Service Classifications)

Unsought products

Answer 9

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 10

(Product and Service Classifications)

Industrial products

Answer 10

products purchased for further processing or for use in conducting a business.
•Materials and parts
•Capital items
•Supplies and services

Question 11

(Product and Service Classifications)

Materials and parts

Answer 11

include raw materials and

manufactured materials and parts.

Question 12

(Product and Service Classifications)

Capital items

Answer 12

industrial products that aid in

the buyer’s production or operations.

Question 13

(Product and Service Classifications)

Supplies and services

Answer 13

operating supplies, repair and maintenance items, and business services.

Question 14

(Product and Service Classifications)

Organization marketing

Answer 14

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

Question 15

(Product and Service Classifications)

Person marketing

Answer 15

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

Question 16

(Product and Service Classifications)

Place marketing

Answer 16

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

Question 17

(Product and Service Classifications)

Social marketing

Answer 17

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

Question 18

Individual Product and Service Decisions

Answer 18

Product attributes
↓
Branding
↓
Packaging
↓
Labeling
↓
Product support services

Question 19

(Individual Product and Service Decisions)

product and service attributes

Answer 19

Communicate and deliver benefits by product and service attributes.
•Quality
•Features
•Style and design

Question 20

(Individual Product and Service Decisions)

Product quality

Answer 20

refers to the characteristics of a 
product or service that bear on its ability to satisfy stated or implied customer needs.
•Total quality management
•Return-on-quality
•Quality level
•Performance quality
•Conformance quality

Question 21

(Individual Product and Service Decisions)

Product Features

Answer 21

• Competitive tool for differentiating a product
from competitors’ products

• Assessed based on the value to the customer
versus its cost to the company

Question 22

(Individual Product and Service Decisions)

Style and Design

Answer 22

Style describes the
appearance of the
product.

Design contributes to a
product’s usefulness
as well as to its looks.

Question 23

(Individual Product and Service Decisions)

Brand

Answer 23

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

Question 24

(Individual Product and Service Decisions)

Packaging and Labels

Answer 24

Packaging involves
designing and producing
the container or wrapper
for a product.

Labels identify the product
or brand, describe
attributes, and provide
promotion.

Question 25

(Product and Service Decisions)

Product line

Answer 25

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 26

(Services Marketing)

Types of Service Industries

Answer 26

• Government
• Private not-for-profit organizations
• Business organizations

Question 27

(Services Marketing)

Nature and Characteristics of a Service

Answer 27

Intangability = Services cannot be seen, tasted, felt, heard, or smelled before purchase

Variability = Quality of services depends on who provides them and when, where, and how

Inseparability = Services cannot be seperated from their providers

Perishability = Services cannot be stored for later sale or use

Question 28

(Services Marketing)

Managing service differentiation

Answer 28

creates a competitive advantage.
• Offer
• Delivery
• Image

Question 29

(Services Marketing)

Managing service quality

Answer 29

enables a service firm

to differentiate itself by delivering consistently higher quality than its competitors provide.

Question 30

(Branding Strategy: Building Strong Brands)

Brand equity

Answer 30

the differential effect that

knowing the brand name has on customer response to the product or its marketing.

Question 31

(Branding Strategy: Building Strong Brands)

Brand value

Answer 31

the total financial value of a

brand.

Question 32

(Branding Strategy: Building Strong Brands)

Building Strong Brands

Answer 32

Brand positioning= Attributes, Benefits, Beliefs and values
↓
Brand name selection= Selection, Protection
↓
Brand sponsership= Manufacturers brand, private brand, licensing, co-branding
↓
Brand development= Line extensions, Brand extensions, multibrands, new brands

Question 33

(Branding Strategy: Building Strong Brands)

Brand Positioning

Answer 33

Marketers can position brands at any of three levels.
•Attributes
•Benefits
•Beliefs and values

Question 34

(Branding Strategy: Building Strong Brands)

Brand Name Selection

Answer 34

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 35

(Branding Strategy: Building Strong Brands)

Brand Sponsorship

Answer 35

• Manufacturer’s brand
• Private brand
• Licensed brand
• Co-brand