Chapter 8 Product, Services, and Branding Strategies: Building Customer Value1) _ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.A) Line extensionsB) ServicesC) BrandsD) Consumer productsE) SupplementsAnswer: BDiff: 1Page Ref: 224AACSB: CommunicationSkill: ConceptObjective: 8-12) A product is a key element in the _. At one extreme, it may consist of pure tangible goods or at the other extreme, pure services.A) market offeringB) brand equityC) brand extensionD) co-brandingE) value chainAnswer: ADiff: 1Page Ref: 224AACSB: CommunicationSkill: ConceptObjective: 8-13) To differentiate themselves, many companies are going beyond products and services, they are developing and delivering customer _. A) qualityB) experiencesC) brandsD) product linesE) eventsAnswer: BDiff: 2Page Ref: 224AACSB: CommunicationSkill: ConceptObjective: 8-14) Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is the _, which addresses the question, What is the buyer really buying?A) actual productB) augmented productC) core customer valueD) co-brandingE) exchangeAnswer: CDiff: 2Page Ref: 225AACSB: CommunicationSkill: ConceptObjective: 8-15) Products and services fall into two broad classifications based on the types of consumers that use them. Which is one of these broad classes?A) industrial productsB) specialty productsC) supplies and servicesD) materials and partsE) convenience productsAnswer: ADiff: 2Page Ref: 226Skill: ConceptObjective: 8-16) _ are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style. Consumers spend much time and effort in gathering information and making comparisons about these products.A) Shopping productsB) Convenience productsC) Unsought productsD) Industrial productsE) Line extensionsAnswer: ADiff: 2Page Ref: 226Skill: ConceptObjective: 8-17) _ are those products purchased for further processing or for use in conducting a business.A) Unsought productsB) Specialty productsC) Shopping productsD) Industrial productsE) AccessoriesAnswer: DDiff: 1Page Ref: 227Skill: ConceptObjective: 8-18) Most manufactured materials and parts are sold directly to _. Price and service are the major marketing factors; branding and advertising tend to be less important.A) consumersB) industrial usersC) brand extensionsD) co-brandersE) wholesalersAnswer: BDiff: 2Page Ref: 227Skill: ConceptObjective: 8-19) _ are industrial products that aid in the buyers production or operations, including installations and accessory equipment.A) MaterialsB) PartsC) Capital itemsD) Specialty itemsE) SuppliesAnswer: CDiff: 2Page Ref: 227Skill: ConceptObjective: 8-110) _ consists of activities undertaken to create, maintain, or change the attitudes and behavior of target consumers toward an organization.A) Person marketingB) Organization marketingC) Internal marketingD) Service variabilityE) Intelligence marketingAnswer: BDiff: 2Page Ref: 228AACSB: CommunicationSkill: ConceptObjective: 8-111) _ involves activities undertaken to create, maintain, or change attitudes toward particular cities, states, and regions. A) Idea marketingB) Place marketingC) Organization marketingD) Social marketingE) Interactive marketingAnswer: BDiff: 1Page Ref: 228AACSB: CommunicationSkill: ConceptObjective: 8-112) _ is defined as the use of commercial marketing concepts and tools in programs designed to influence individuals behavior to improve their well being and that of society.A) Unsought product marketingB) Internal marketingC) Social marketingD) Product lineE) Interactive marketingAnswer: CDiff: 1Page Ref: 229AACSB: Ethical ReasoningSkill: ConceptObjective: 8-113) Public health campaigns to reduce alcoholism, drug abuse, smoking, and obesity are all examples of _.A) specialty productsB) social marketingC) shopping productsD) consumer productsE) responsibility marketingAnswer: BDiff: 2Page Ref: 229AACSB: Ethical ReasoningSkill: ConceptObjective: 8-114) _ is one of the marketers major positioning tools because it has a direct impact on product or service performance; it is therefore closely linked to customer value and satisfaction.A) PackagingB) Product qualityC) Total quality managementD) Specialty product marketingE) PositioningAnswer: BDiff: 2Page Ref: 229AACSB: CommunicationSkill: ConceptObjective: 8-2