marketing
Which of the following is NOT included in the process of making a service "failsafe"?
Constantly improving the quality and reliability of the service
_____ are the costs associated with the operating and marketing expenses of a company. _____ are the per-unit costs associated with the product.
Fixed costs; Variable costs
Orchestrating a great _____ is a powerful way to differentiate a service for which there are alternatives.
Customer experience
What is the satisfaction a customer has with every aspect of a brand — its messages, people, service processes, technology, and physical environment — through every service encounter across the entire life of the relationship?
Customer experience
Brand awareness and brand differentiation can add value to the brand through _____.
Customers perceiving less risk in the product and choosing it Customers paying a premium price Customer sharing product through word of mouth
The basic attributes that are necessary to deliver the benefits are called?
Expected attributes
What is a legally protected brand name, brand mark, or a combination of these?
Trademark
The added value delivered by the brand over the functional benefits or book value of the product, service, or company is _____.
brand equity
_____ is the way that a company wishes to be portrayed.
brand identity
One way to get a clear picture of how consumers view your brand is to build a _____ of their brand associations.
brand map
_____ is packaging two or more goods or services together to sell them for a single packaged price.
bundle pricing
Which type of good is consumed quickly and often?
consumer packaged goods
What type of retail store is divided up into departments of similar types of product lines?
department store
With _____ pricing, a variable rate is used for each customer, often based on a product's or a service's demand.
dynamic
What DOES still draw consumers to a physical store?
experience
A company uses the _____ pricing strategy when it sells a popular item at an artificially low price.
loss leader
What is an added percentage or dollar amount added to the cost to determine its selling price?
markup
In the _____ stage, product sales have leveled off and profits are beginning to decrease.
maturity
Which of the following is NOT included in the product attribute levels?
necessary attributes
When services are created or produced at the time consumers need them, they fall under the characteristic of _____.
perishability
The formula, Percent Change in Quantity Sold divided by Percent Change in Price, is used to calculate which pricing concept?
price elasticity
The service blueprint contains all of the following elements EXCEPT _____.
process
What is also called the merchandise mix?
product assortment
Which of the following is NOT an industry term that describes the variation of products offered?
product reach
True or False: A brand association map is a visual illustration that shows the different associations that a consumer has with a brand.
true
True or False: A key component of a product - especially in consumer goods - is the product packaging.
true
True or False: Because services have different characteristics than products, marketing services requires a different approach than does product marketing.
true
True or False: Dan Ariely describes a phenomenon he discovered called the third "decoy" option, which says adding an inferior option will make the original product more attractive.
true
True or False: Focus groups or in-depth interviews are both good ways to get the information necessary for journey mapping effectively.
true
True or False: With prestige pricing, elasticity in demand can be a positive number. This means when the price goes up, instead of demand decreasing, demand actually
true
_____ are easily explained and quickly adopted by consumers.
Low-learning products
At the most basic level, a brand serves to _____ a seller.
identify
Which of the following was NOT included in types of retail stores discussed in this chapter?
Big-Box Store Supermarket Department store
Types of retail stores of often distinguished by their _____.
Both product assortment and store size
What is it called when marketers brand an entire group of products?
Branded house Family branding Umbrella branding
The chapter discussed a few specific subtypes of convenience products. Which of the following is considered a subtype of convenience product?
Impulse product Consumer packaged good (CPG) Staple product
Services are _____.
Intangible Provided by a person or technology for benefit of another person Often purchased with physical goods
What is it called when retailers make different purchasing options available to consumers?
Omni-channel
What represents the range of choice offered to the consumer within a particular classification of merchandise?
Product assortment
Which of the following is not included as a characteristic of service?
Reliability
What are all the details inside the retail store's physical environment that influence consumer behavior?
Retail atmospherics
What kind of packaging holds a number of individual units to form a wholesale unit?
Tertiary packaging
The evaluation of services occurs almost exclusively _____ purchasing and experiencing the service.
after
Which one of these companies would be an example of using the price skimming strategy?
apple
True or False: A brand cannot carry negative equity.
false
True or False: A name is the only thing that makes a brand distinctive that can be trademarked.
false
True or False: A product life cycle describes the typical pattern that an unsuccessful new product takes, from development to the end of its life.
false
True or False: Different store layouts cannot be combined or used together.
false
True or False: Price skimming is when a marketer introduces a product into the market at an initially low price then incrementally raises the price over time.
false
_____ products have a short life cycle that is cyclical.
fashion
