MKT8 Test Questions
2) ________ 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
Services
________ 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
Shopping products
________ 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
Speciality products
Products and services fall into two broad classifications based on the types of consumers that use them. Which is one of these broad classes?
industrial products
________ are those products purchased for further processing or for use in conducting a business
industrial products
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
industrial users
At the very least, the ________ identifies the product or brand. It might also describe several things about the product and promote the brand
label
Berkowitz Piano Company can expand its product line in one of two common ways. Which of the following is one of those ways?
line filling
3) 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
market offering
All of the following are a manufacturer's sponsorship options for a product EXCEPT ________.
multibrands
In the competition between ________ and ________ brands, retailers have the advantages of controlling what products will be stocked, where products will be stocked, what prices will be charged, and which products will be featured in print promotions
national; private
In recent years, product safety and environmental responsibility have become major ________ concerns.
packaging
________ involves designing and producing the container or wrapper for a product
packaging
An increasing number of retailers and wholesalers have created their own ________, also called store brands
private brands
We define a ________ as anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need
product
Developing a product or service involves defining the benefits that it will offer. These benefits are communicated and delivered by ________ such as quality, features, and style and design.
product attributes
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.
product line
An alternative to product line stretching is ________, adding more items within the present range of the line
product line filling
The major product line decision involves ________
product line length
When a company lengthens its product line beyond its current range, it is ________
product line stretching
A ________ consists of all the product lines and items that a particular seller offers for sale
product mix
________ is one of the marketer's major positioning tools because it has a direct impact on product or service performance; it is therefore closely linked to customer value and satisfaction
product quality
Public health campaigns to reduce alcoholism, drug abuse, smoking, and obesity are all examples of ________.
social marketing
________ 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 marketing
social marketing
A sensational ________ may grab attention and produce pleasing aesthetics, but it does not necessarily improve a product's performance
style
The total financial value of a brand is estimated through the process of brand ________.
valuation
________ are industrial products that aid in the buyer's production or operations, including installations and accessory equipment
Capital items
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?
Core customer value
A company can increase its business in four ways. Which is NOT one of these ways?
It can discontinue some of its lines
For a fee, some companies ________ names or symbols previously created by other manufacturers, names of well-known celebrities, and/or characters from popular movies and books, any of which can provide an instant and proven brand name
License
________ is an approach in which all the company's people are involved in constantly improving the products, services, and business processes
Total quality management
________ are consumer products that the consumer either does not know about or knows about but does not normally think about buying. These products require a lot of advertising, personal selling, and other marketing efforts
Unsought products
Product planners must design the actual product and find ways to ________ it in order to create the bundle of benefits that will provide the most satisfying customer experience.
augment
The third level of a product that product planners must consider is a(n) ________ around the core benefit and actual product that offers additional consumer services and benefits
augmented product
A key element in a company's relationship with consumers, a ________ represents consumers' perceptions and feelings about a product and its performance
brand
A(n) ________ is a name, term, sign, symbol, design, or a combination of these, that identifies the maker or seller of a product or service
brand
Which of the following is NOT one of the four consumer perception dimensions used by ad agency Young & Rubicam to measure brand strength?
brand valuation
Some analysts see ________ as the major enduring asset of a company, outlasting the company's specific products and facilities
brands
In most ________ situations, one company licenses another company's well-known brand to use in combination with its own.
co-branding
________ occurs when two established brand names of different companies are used on the same product.
co-branding
What are the two dimensions of product quality?
consistency and level
________ are products and services bought by final consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products
consumer products
The fundamental asset underlying brand equity is ________--the value of the customer relationships that the brand creates. A powerful brand is important, but what it really represents is a set of loyal consumers
customer equity
________ contributes to a product's usefulness as well as to its looks.
design
To differentiate themselves, many companies are going beyond products and services, they are developing and delivering customer_.
experiences