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