Question 1

How do consumers perceive products?

Accepted Answer

Consumers see products as complex bundles of benefits that satisfy their needs.

Question 2

Rhodia invites tourists from all over the world to experience its pristine nature, clear skies, and beautiful summertime climate. This exemplifies ________.

Accepted Answer

A)  corporate image marketing 
B)  social marketing 
C)  place marketing 
D)  social engineering 
E)  negative brand equity 
A)  corporate image marketing 
B)  social marketing 
C)  place marketing 
D)  social engineering 
E)  negative brand equity C

Question 3

If a consumer purchases a new flat-screen "smart" television which can connect to services like Netflix and Pandora, what is the core customer value involved?

Accepted Answer

A)  connection to entertainment and information 
B)  state-of the art technology 
C)  slick and attractive packaging 
D)  brand name 
E)  tech support and warranty 
A)  connection to entertainment and information 
B)  state-of the art technology 
C)  slick and attractive packaging 
D)  brand name 
E)  tech support and warranty A

Question 4

Service companies can differentiate their offering by ________.

Accepted Answer

A)  having a lower price than their competitors 
B)  designing a superior delivery process 
C)  offering a stellar physical environment in which the product is delivered 
D)  developing innovative features 
E)  adopting a recognizable image 
A)  having a lower price than their competitors 
B)  designing a superior delivery process 
C)  offering a stellar physical environment in which the product is delivered 
D)  developing innovative features 
E)  adopting a recognizable image

Question 5

What are the key service characteristics a company must consider when designing marketing programs? Briefly describe each characteristic.

Accepted Answer

A company must consider four special ser

Question 6

What are the two dimensions of product quality?

Accepted Answer

A)  consistency and level 
B)  performance and conformance 
C)  design and innovation 
D)  conformance and style 
E)  feature and design 
A)  consistency and level 
B)  performance and conformance 
C)  design and innovation 
D)  conformance and style 
E)  feature and design

Question 7

________ occurs when a company lengthens its product line beyond its current range.

Accepted Answer

A)  Product line filling 
B)  Product line stretching 
C)  Co-branding 
D)  Niche marketing 
E)  Market diversification 
A)  Product line filling 
B)  Product line stretching 
C)  Co-branding 
D)  Niche marketing 
E)  Market diversification

Question 8

Service productivity can be increased by hiring new employees who will work harder, by giving up some quality, or by ________.

Accepted Answer

A)  using technology more effectively 
B)  outsourcing portions of the process to other firms 
C)  creating more self-serve opportunities for customers 
D)  reducing the number of products offered 
E)  increasing the price on some of the product line 
A)  using technology more effectively 
B)  outsourcing portions of the process to other firms 
C)  creating more self-serve opportunities for customers 
D)  reducing the number of products offered 
E)  increasing the price on some of the product line

Question 9

A service refers to an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything.

Accepted Answer

A) True 
 B)False

Question 10

________ are the major marketing factors in the sale of most manufactured materials and parts.

Accepted Answer

A)  Branding and advertising 
B)  Price and service 
C)  Sales promotion and advertising 
D)  Branding and packaging 
E)  Public relations and brand management 
A)  Branding and advertising 
B)  Price and service 
C)  Sales promotion and advertising 
D)  Branding and packaging 
E)  Public relations and brand management

Question 11

A company has four choices when it comes to developing brands. Describe them.

Accepted Answer

The company can introduce line extension

Question 12

Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is ________, which addresses the question, "What is the buyer really buying?"

Accepted Answer

A)  an actual product 
B)  an augmented product 
C)  core customer value 
D)  co-branding 
E)  exchange value 
A)  an actual product 
B)  an augmented product 
C)  core customer value 
D)  co-branding 
E)  exchange value

Question 13

BlueFin canned tuna has higher sales than its unbranded rival, even though the unbranded tuna costs $0.45 less per can than BlueFin tuna. BlueFin most likely has ________.

Accepted Answer

A)  an aggressive brand personality 
B)  high brand equity 
C)  no brand commitment 
D)  negative brand equity 
E)  low brand relevance 
A)  an aggressive brand personality 
B)  high brand equity 
C)  no brand commitment 
D)  negative brand equity 
E)  low brand relevance

Question 14

If a consumer purchases a new flat-screen "smart" television, what is the augmented product involved?

Accepted Answer

A)  connection to the world of entertainment 
B)  state-of the art technology 
C)  slick and attractive packaging 
D)  brand name 
E)  tech support and warranty 
A)  connection to the world of entertainment 
B)  state-of the art technology 
C)  slick and attractive packaging 
D)  brand name 
E)  tech support and warranty

Question 15

________ involves the use of a successful brand name for new or modified products in a new category.

Accepted Answer

A)  A line extension 
B)  A product line 
C)  A brand extension 
D)  Co-branding 
E)  Cannibalization 
A)  A line extension 
B)  A product line 
C)  A brand extension 
D)  Co-branding 
E)  Cannibalization

Question 16

Specialty products are consumer products and services that customers evaluate on suitability, quality, price, and style, by gathering information and making comparisons.

Accepted Answer

A) True 
 B)False

Question 17

________ products are those products purchased for further processing or for use in conducting a business.

Accepted Answer

A)  Unsought 
B)  Specialty 
C)  Shopping 
D)  Industrial 
E)  Convenience 
A)  Unsought 
B)  Specialty 
C)  Shopping 
D)  Industrial 
E)  Convenience

Question 18

Some companies obtain the rights to use the names or symbols previously created by other manufacturers for a fee. This process is known as ________.

Accepted Answer

A)  multibranding 
B)  positioning 
C)  segmenting 
D)  co-branding 
E)  licensing 
A)  multibranding 
B)  positioning 
C)  segmenting 
D)  co-branding 
E)  licensing

Question 19

Elmo Inc., a Michigan-based manufacturer of athletic shoes, uses professional athletes in its ad campaigns to help sell its products. This is an example of ________ marketing.

Accepted Answer

A)  person 
B)  place 
C)  social 
D)  organization 
E)  internal 
A)  person 
B)  place 
C)  social 
D)  organization 
E)  internal

Question 20

Which of the following is true with regard to store brands?

Accepted Answer

A)  Store brands have been declining in popularity and strength for more than two decades. 
B)  Store brands are also known as national brands. 
C)  Store brands are created and owned by resellers of a product or service. 
D)  Increasing consumer distrust toward store brands has led to a store-brand slump. 
E)  Store brands are growing far slower than manufacturer's brands. 
A)  Store brands have been declining in popularity and strength for more than two decades. 
B)  Store brands are also known as national brands. 
C)  Store brands are created and owned by resellers of a product or service. 
D)  Increasing consumer distrust toward store brands has led to a store-brand slump. 
E)  Store brands are growing far slower than manufacturer's brands.

How do consumers perceive products?

Rhodia invites tourists from all over the world to experience its pristine nature, clear skies, and beautiful summertime climate. This exemplifies ________.

If a consumer purchases a new flat-screen "smart" television which can connect to services like Netflix and Pandora, what is the core customer value involved?

Service companies can differentiate their offering by ________.

What are the key service characteristics a company must consider when designing marketing programs? Briefly describe each characteristic.

What are the two dimensions of product quality?

________ occurs when a company lengthens its product line beyond its current range.

Service productivity can be increased by hiring new employees who will work harder, by giving up some quality, or by ________.

A service refers to an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything.

________ are the major marketing factors in the sale of most manufactured materials and parts.

A company has four choices when it comes to developing brands. Describe them.

Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is ________, which addresses the question, "What is the buyer really buying?"

BlueFin canned tuna has higher sales than its unbranded rival, even though the unbranded tuna costs $0.45 less per can than BlueFin tuna. BlueFin most likely has ________.

If a consumer purchases a new flat-screen "smart" television, what is the augmented product involved?

________ involves the use of a successful brand name for new or modified products in a new category.

Specialty products are consumer products and services that customers evaluate on suitability, quality, price, and style, by gathering information and making comparisons.

________ products are those products purchased for further processing or for use in conducting a business.

Some companies obtain the rights to use the names or symbols previously created by other manufacturers for a fee. This process is known as ________.

Elmo Inc., a Michigan-based manufacturer of athletic shoes, uses professional athletes in its ad campaigns to help sell its products. This is an example of ________ marketing.

Which of the following is true with regard to store brands?

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 8: Products, Services, and Brands: Building Customer Value

How do consumers perceive products?

Rhodia invites tourists from all over the world to experience its pristine nature, clear skies, and beautiful summertime climate. This exemplifies ________.

If a consumer purchases a new flat-screen "smart" television which can connect to services like Netflix and Pandora, what is the core customer value involved?

Service companies can differentiate their offering by ________.

What are the key service characteristics a company must consider when designing marketing programs? Briefly describe each characteristic.

What are the two dimensions of product quality?

________ occurs when a company lengthens its product line beyond its current range.

Service productivity can be increased by hiring new employees who will work harder, by giving up some quality, or by ________.

A service refers to an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything.

________ are the major marketing factors in the sale of most manufactured materials and parts.

A company has four choices when it comes to developing brands. Describe them.

Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is ________, which addresses the question, "What is the buyer really buying?"

BlueFin canned tuna has higher sales than its unbranded rival, even though the unbranded tuna costs $0.45 less per can than BlueFin tuna. BlueFin most likely has ________.

If a consumer purchases a new flat-screen "smart" television, what is the augmented product involved?

________ involves the use of a successful brand name for new or modified products in a new category.

Specialty products are consumer products and services that customers evaluate on suitability, quality, price, and style, by gathering information and making comparisons.

________ products are those products purchased for further processing or for use in conducting a business.

Some companies obtain the rights to use the names or symbols previously created by other manufacturers for a fee. This process is known as ________.

Elmo Inc., a Michigan-based manufacturer of athletic shoes, uses professional athletes in its ad campaigns to help sell its products. This is an example of ________ marketing.

Which of the following is true with regard to store brands?

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters