Buad 332 Exam 2 Chapter 7
The strongest brands are positioned on ______.
beliefs and values
Firms have four brand development choices. These are _____________.
line extensions, brand extensions, multibrands, and new brands
Good service companies understand the service profit chain, which links ________.
service firm profits with employee and customer satisfaction
Services are characterized by four key aspects: ______________________.
services are intangible, inseparable, variable, and perishable
Charles Revson of Revlon once said, "In the factory we make cosmetics; in the store we sell hope." Which product level is Revson referring to?
Core customer value
Service providers often face price competition. As a solution to this, service providers can further differentiate themselves based on which three characteristics?
The service offer, delivery, and image
A brand's positioning must be continuously communicated to consumers. Although advertising can help, brands are maintained not by advertising, but by customers' ________.
brand engagement and brand experiences
The totality of a company's product lines and items offered to customers is known as its _________________.
product mix
Companies must make important decisions about their individual products and services. Individual product decisions involve ________________, and product support services.
product attributes, branding, packaging, labeling
In building brands, companies need to make decisions about four key powerful areas: ________________________________.
brand positioning, brand name selection, brand sponsorship, and brand development
The distinction between a consumer product and an industrial product is based on the ________ for which the product is purchased.
purpose
Which of the following correctly describes the classifications into which products and services fall?
Consumer products and industrial products
When a company lengthens a product line by adding more items within that line's current range, the company is ________.
filling the line
Which of the following correctly identifies the levels for which marketers make product and service decisions?
individual product, product line, and product mix decisions
Which of the following terms correctly describes the positive differential effect that knowing the brand name has on customer response to the product or the service?
brand equity
Broadly defined, a product is anything that can be offered to a market for ___________, or consumption that might satisfy a want or need. Products include not only physical objects, but also services, events, persons, places, organizations, ideas, or mixtures of these entities.
attention, acquisition, use
Consumer products are products and services bought by final consumers for personal consumption. Consumer product classifications include _______________, and unsought products.
convenience, shopping, specialty
Services are characterized by four key aspects, with each posing problems and marketing requirements. The four key aspects are ________________________.
intangible, inseparable, variable, and perishable
The number of product lines a company manages is the product mix ______. The total number of items a company carries within its product line is the product mix _____.
width; length
When a company builds a brand, it needs to make important decisions regarding the brand. Of the following, which is NOT one of those decisions?
Brand licensing opportunities
Which of the following is the correct definition of a product?
A product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.
Marketers must make important decisions when developing individual products and services. Which of the following correctly identifies those important decisions?
Product attributes, branding, packaging, labeling, and product support services
Services marketing strategy calls not only for external marketing, but also for internal marketing to motivate ________ and interactive marketing to create service delivery skills among ________.
customer support staff; service providers
When marketers create services marketing strategy, they understand they must execute on external marketing but also develop _______________________________.
internal strategies to motivate employees and interactive marketing to create service delivery skills among service providers