MKGT300 - Ch.8 Quiz

A ________ is a name, term, sign, symbol, design, or a combination of these, that identifies the maker or seller of a product or service. Answers: brand line extension package value chain feature

brand

According to the service profit chain, superior internal service quality results in ________. Answers: reduced after-sale services increased word-of-mouth sales lesser service value negative brand equity of newly launched products more satisfied, loyal, and hardworking employees

more satisfied, loyal, and hardworking employees

A good design begins with ________. Answers: observing and understanding customers and shaping their product-use experience brainstorming technical product specifications brainstorming new product ideas making prototypes of the planned product identifying the most suitable and aesthetic packaging

observing and understanding customers and shaping their product-use experience

Features are a competitive tool for differentiating a company's product from competitors' products. Which question are companies LEAST likely to ask in a survey of buyers regarding product features? Answers: How do you like the product? Which features of the product do you like the least? Which specific features of the product do you like most? Which features could we add to improve the product? How much would (a certain new feature) be worth to you?

How much would (a certain new feature) be worth to you?

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? Answers: brand name slick and attractive packaging connection to entertainment and information tech support and warranty state-of the art technology

connection to entertainment and information

A label can identify, promote, and ________ the product. Answers: describe assemble package brand sell

describe

A good brand name should most likely be ________. Answers: long distinctive conventional complex trendy

distinctive

Brand ________ is the differential effect that knowing the brand name has on customer response to the product and its marketing. Answers: relevance equity differentiation knowledge personality

equity

Brand ________ refers to how highly consumers regard and respect the brand. Answers: conformance differentiation esteem relevance knowledge

esteem

Apollo Couriers, a company providing international express mail services, has a proactive customer communications team. The primary job of this team is to identify situations that led to customer dissatisfaction, and then provide quick remedies to fix the problems. To a great extent, this has helped Apollo in winning customer loyalty. In this instance, Apollo has benefitted from ________. Answers: product differentiation place marketing good service recovery co-branding multibranding

good service recovery- can turn angry customers into loyal ones

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 ________. Answers: no brand commitment an aggressive brand personality negative brand equity low brand relevance high brand equity

high brand equity

If a service employee provides the service, then the employee becomes a part of the service. This is an example of service ________. Answers: perishability intangibility inseparability heterogeneity variability

inseparability

A product's ________ identifies the product or brand, describes several things about the product, and promotes the brand. Answers: feature portfolio design label line extension

label

Alex Smith rents storage space to college students who go home for the summer but do not want to haul all of their property home and back. The business is profitable during the summer months, but when the storage space is unoccupied in the off-season, Alex loses money. Which of the following characteristics of service is most likely the source of Alex's problem? Answers: inseparability inconsistency intangibility perishability variability

perishability

A company that uses well-known celebrities to help sell its products is using ________ marketing. Answers: social interactive person internal organization

person

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. Answers: internal social person organization place

person

An increasing number of retailers and wholesalers have created their own ________, also called store brands. Answers: generic brand private brand manufacturer's brand support brand national brand

private brand national brand(or manufacturer's brand)- sell their output under their own brand names private brand(or store brand)- manufacturer sell to resellers

Costco's Kirkland Signature products are an example of a ________. Answers: manufacturer's brand national brand support brand private brand generic brand

private brand national brand(or manufacturer's brand)- sell their output under their own brand names private brand(or store brand)- manufacturer sell to resellers

Developing a product or service involves defining the benefits that it will offer. These benefits are communicated and delivered by ________. Answers: product packaging product labels product attributes support services branding

product attributes 1. product attributes- defining the benefits that it will offer 2. branding- name, term, sign, symbol, or design or a combination 3. product packaging- designing and producing the container or wrapper for a product 4. product labels- identifies product or brand 5. support services- some support services, which can be a minor part

A ________ 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 type of outlets, or fall within given price ranges. Answers: new brand private brand product line line extension multibrand

product line

A ________ consists of all the product lines and items that a particular seller offers for sale. Answers: store brand value chain product mix line extension supply chain

product mix

nsumer products refer to ________. Answers: primarily intangible offerings from marketers products and services bought by final consumers for personal consumption products that aid in the consumer's production or operations, including installations and accessory equipment raw materials as well as manufactured materials and partsproducts purchased by consumers for further processing or for use in conducting a business

products and services bought by final consumers for personal consumption

Brand ________ refers to how consumers feel if a brand meets their needs. Answers: esteem relevance dilution equity differentiation

relevance

After a brief stay at a luxury hotel in Paris, Benjamin Sanders noted that the hotel had kept every promise it made when he booked the room, meeting all his needs. He added that it was a "thoroughly comfortable and opulent experience." According to Young & Rubicam's Brand Asset Valuator, this reflects brand ________. Answers: knowledge differentiation valuation esteem relevance

relevance differentiation- what makes a brand stand out relevance- how consumers feel it meets their needs knowledge- how much consumers know about the brand esteem- how highly consumers regard and respect the brand

Erica wants to replace her old washing machine with a new one. In order to get the maximum value for her money, she plans to spend substantial time and effort in gathering information and making product comparisons before making the actual purchase. In this instance, Erica is planning to buy a(n) ________ product. Answers: convenience exclusive unsought shopping specialty

shopping

Advertising campaigns involving issues ranging from health care, education, and environmental sustainability to human rights and personal safety can be classified under ________ marketing. Answers: internal place person social corporate image

social

A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania, from locally grown wood, is an example of a ________. Answers: capital item convenience product service product attribute specialty product

specialty product

Gainville Inc. manufactures Android phones. Each new Gainville phone launch advances the cause of democratizing technology. Gainville, an expert in fostering customer community, engages customers at a deep, emotional level, and has been ranked one of the Breakaway Brands by the brand consultancy, Kendell Associates. Gainville is most likely positioned on ________. Answers: basic product attributes self-image enhancement service variability strong beliefs and values short-term benefits

strong beliefs and values

If a consumer purchases a new flat-screen "smart" television, what is the augmented product involved? Answers: connection to the world of entertainment slick and attractive packaging tech support and warranty brand name state-of the art technology

tech support and warranty

A well-known cosmetic company in New York City added new product lines in order to increase its business. In other words, it ________. Answers: widened its product mix engaged in market diversification engaged in social marketing lengthened its existing product line decreased its product line consistency

widened its product mix