mod 8

Intangible products are also known as:

Services

Which statement is most true?

Services are intangible

---------- entail(s) the application of specialized proficiencies via the execution of actions and processes for purposes of benefitting other entities (usually customers).

Services delivery

The Toyota brand of automobiles is a good example of:

Shopping goods

When consumers are deliberating whether to purchase ---------- they expend considerable effort in an attempt to make the best possible choice. Substantial brand versus brand comparison is likely.

Shopping goods

Which type of consumer good usually does not feature extensive distribution channels?

Specialty goods

---------- are products/brands that few to no customers look for on their own. The implication is that some marketer truly must sell them. Life insurance, gym memberships, burial plots ... these sorts of products illustrate the point.

Unsought goods

Which answer is NOT a marketing service?

A retail clothing store

The _____level entails a product's features, design, quality level, and packaging.

Actual product

The warranty associated with automotive purchases illustrates:

An intangible dimension of a tangible product.

The best definition of services is ...

Applying specialized competencies by performing deeds and processes in order to benefit service recipients and service providers.

Which statement is NOT true about a product category that is currently experiencing its "Decline Stage?"

Competitive pressures will remain constant at this point.

Consumers typically buy-------------- goods based on variety seeking, impulse, and inertia behaviors.

Convenience

The sort of consumer goods that individuals purchase without much effort and that are highly available (widely distributed throughout the marketplace) called a ...

Convenience good

Most products feature three levels. The three product levels are the:

Core benefit, actual product, augmented product

_____________________ are the truest, most basic problem-solving attributes associated with branded products.

Core benefits

Most products feature three levels. The "level of product" that most closely captures the basic benefits provided by the product is called the:

Core product

The satisfaction of ________________ typically is emphasized during B2B marketing efforts. By contrast, the satisfaction of _________________ typically is emphasized during B2C marketing efforts.

Customer needs, customer wants

Each level of a product should contribute additional ______.

Customer value.

With the advent of electric vehicles, in which stage of their product life cycle are internal combustion (automobile) engines?

Decline

Which of the following product categories does the best job of illustrating the powerful ability of marketing to create meaning and value for a product in the minds of consumers?

Diamonds

Supporting services are increasingly being used to ___________________ tangible products.

Differentiate

Ford Motor Co.'s decision to stop producing traditional sedan passenger cars illustrates a strategic response to:

Ever-changing customer preferences.

Even numbers are more powerful than odd numbers when presenting or designing a product or message. This statement is:

False

Which of the following traits is not a characteristic of a service?

Functionality

During which PLC stage are marketing organizations most concerned with gaining and maintaining market share?

Growth stage

Which of the four characteristics that distinguish intangible products (services) from tangible products best captures the reason why services cannot be produced and inventoried (stored-up) for later consumption?

Inseparability

During the __________ stage of the product life cycle, a primary goal is to develop awareness among targeted audience that distribution in the market may be limited. Consequently, collaborative and cooperative supply chain relationships also should be developed and refined. Marketers might logically choose to pursue skim-the-cream pricing strategies.

Introduction

During the _______ stage of the PLC the primary marketing mix goal is to develop greater awareness of the existence of the new product among its audience.

Introduction stage

Good design can signal higher quality. Great design can solve customer problem s. What other benefits does great design provide?

More substance Greater functionality Increased usefulness

Why did movie theaters hit a twenty-five-year low in 2017?

Movie ticket prices went through the roof

Which service characteristics best describes the fact that organizations cannot store up, or inventory, services to satisfy customer demand during high demand periods?

Perishability

What element is not added to list of marketing mix ingredients when marketing services are developed and delivered?

Place

Which type of consumer goods inverts the economic law that higher product prices almost always reduce demand for those products?

Positional

The purchase of luxury branded purses or expensive art illustrate which sort of consumer goods category?

Positional goods

The most accurate reason why marketing organizations that want to sustain their revenues should engage in new product development is because:

Products usually pass through a life cycle that culminates in the demise of the product.

Today the US is increasingly recognized as the world's largest producer manufacturer of:

Professional services

Tangible product can be marketed and differentiated based on their ability to provide (deliver) intangible services. Which of the following answers illustrates this possibility?

Providing ten-year, 100,000 mile warranties for autos. Offering free lifetime inspection for autos. Offering free rental car services for up to five days when you purchase an auto from a dealership

Absent the presence of this leveraging tool marketers will surely fail, but the tool usually is no longer a winning point of differentiation all by itself.

Quality

Which of the following statements is true?

Quality is best understood as freedom from defects. The presence of quality is directly proportional to the presence of efficiency. Quality products brings quantity ... of sales.

---------- describes the appearance of products, down to their websites, packaging, or the colors that accompany or complement their brands products. In fact, everything that directly or indirectly communicates anything about branded products relates to their ----------

Style

___________________ describes the entire package of product characteristics or features that directly or indirectly communicate anything about a branded product.

Style

Which type of cost is associated with time-spent, inconveniences-incurred, new learning that may have been necessary, various psychological-challenges that are confronted, as well as monetary costs?

Switching

_______________ can be described as over-and-above the normal and expected services, applications or solutions that might be associated with a product.

The augmented product

The classification scheme for consumer products divides consumer goods into three basic categories: convenience, shopping, or specialty, in part based upon:

The level of effort expended during the purchase process.

Which of the following statements are not associated with (or characterize) services?

Their quality

As compared to products, services are intangible, inseparable (from their point of production and producer); perishable; and variable (in terms of their quality).

True

The terms luxury brands and positional goods are often synonymous.

True

Convenience goods are:

Widely available in the marketplace. Purchased without much consumer effort.

Supposedly, two great truths prevail inside marketing. First, the most precious resource in today's noisy, crowded markets is customers' attention. Second, consumers don't just seek utility (usefulness, or pure problem-solving ability) from products they buy; consumers often also seek meaning. Are both statements actually true?

Yes