D) competition with superior resources
E) financial resources
29) Which of the following is NOT one of the reasons a segment would be less attractive to a company?
A) strong competitors
B) substitute products
C) concentrated market
D) power of buyers
E) power of suppliers
30) In general, a company should enter only segments in which it can ________ and ________.
A) offer lower prices; ship faster
B) offer superior value; gain advantages over competitors
C) offer superior value; ship faster
D) gain advantages over competitors; differentiate its products
E) identify behaviors; understanding spending power
Chapter 8 Product, Services, and Branding Strategies: Building Customer Value
1) 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.
A) private brand
B) service variability
C) service
D) product
E) service encounter
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.
A) Line extensions
B) Services
C) Brands
D) Consumer products
E) Supplements
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.
A) market offering
B) brand equity
C) brand extension
D) co-branding
E) value chain
4) To differentiate themselves, many companies are going beyond products and services, they are developing and delivering customer ________.
A) quality
B) experiences
C) brands
D) product lines
E) events
5) 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?"
A) actual product
B) augmented product
C) core customer value
D) co-branding
E) exchange
6) 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.
A) brand equity
B) augmented product
C) brand extension
D) industrial product
E) image
7) 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.
A) promote
B) package
C) brand
D) augment
E) present
8) Products and services fall into two broad classifications based on the types of consumers that use them. Which is one of these broad classes?
A) industrial products
B) specialty products
C) supplies and services
D) materials and parts
E) convenience products
9) ________ are products and services bought by final consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products.
A) Services
B) Consumer products
C) Line extensions
D) Industrial products
E) Straight extensions
10) ________ 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.
A) Shopping products
B) Convenience products
C) Unsought products
D) Industrial products
E) Line extensions
11) ________ 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.
A) Shopping products
B) Unsought products
C) Specialty products
D) Industrial products
E) Line extensions
12) ________ 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.
A) Specialty products
B) Line extensions
C) Unsought products
D) Shopping products
E) Staples
13) ________ are those products purchased for further processing or for use in conducting a business.
A) Unsought products
B) Specialty products
C) Shopping products
D) Industrial products
E) Accessories
14) 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.
A) consumers
B) industrial users
C) brand extensions
D) co-branders
E) wholesalers
15) ________ are industrial products that aid in the buyer's production or operations, including installations and accessory equipment.
A) Materials
B) Parts
C) Capital items
D) Specialty items
E) Supplies
16) ________ consists of activities undertaken to create, maintain, or change the attitudes and behavior of target consumers toward an organization.
A) Person marketing B) Organization marketing
C) Internal marketing D) Service variability
E) Intelligence marketing
17) ________ consists of activities undertaken to create, maintain, or change attitudes toward particular people.
A) Corporate image marketing B) Person marketing
C) Social marketing D) Organization marketing
E) Intermarket marketing
18) ________ involves activities undertaken to create, maintain, or change attitudes toward particular cities, states, and regions.
A) Idea marketing
B) Place marketing
C) Organization marketing
D) Social marketing
E) Interactive marketing
19) ________ 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
B) Internal marketing
C) Social marketing
D) Product line
E) Interactive marketing
20) Public health campaigns to reduce alcoholism, drug abuse, smoking, and obesity are all examples of ________.
A) specialty products
B) social marketing
C) shopping products
D) consumer products
E) responsibility marketing
CHAPTER 9