The University of Oklahoma

MKT 3013

Ch. 8

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.

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.

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.

4. To differentiate themselves, many companies are going beyond products and services, they are developing and delivering customer      .

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?"

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.

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.

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?

9.                    are products and services bought by final consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products.

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.

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.

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.

13.                    are those products purchased for further processing or for use in conducting a business.

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.

15.                    are industrial products that aid in the buyer's production or operations, including installations and accessory equipment.

16.                    consists of activities undertaken to create, maintain, or change the attitudes and behavior of target consumers toward an organization.

17.                    consists of activities undertaken to create, maintain, or change attitudes toward particular people.

18.                    involves activities undertaken to create, maintain, or change attitudes toward particular cities, states, and regions.

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.

20. Public health campaigns to reduce alcoholism, drug abuse, smoking, and obesity are all examples of              .

21. 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.

22.                    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.

23.                    is an approach in which all the company's people are involved in constantly improving the products, services, and business processes.

24. What are the two dimensions of product quality?

25. Which of the following types of quality refers to freedom from defects and consistency in delivering a targeted level of performance?

26. A stripped-down model without any extras is the starting point; a company can create a higher-level model by adding            .

27. In assessing which new features to add to a product, a company must weigh each feature's               to customers versus its             to the company.

28. A sensational                may grab attention and produce pleasing aesthetics, but it does not necessarily improve a product's performance.

29.                    contributes to a product's usefulness as well as to its looks.

30. 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.

31.                    involves designing and producing the container or wrapper for a product.

32. In recent years, product safety and environmental responsibility have become major           concerns.

33. At the very least, the             identifies the product or brand. It might also describe several things about the product and promote the brand.

34. The                  requires sellers to provide detailed nutritional information on food products.

35.                    has been affected by the need to include unit pricing, open dating, and nutritional information.

36. Many companies now use a combination of phone, e-mail, fax, Internet, and other technologies to provide

                   .

37. 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.

38. The major product line decision involves          .

39. Berkowitz Piano Company can expand its product line in one of two common ways. Which of the following is one of those ways?

40. An alternative to product line stretching is         , adding more items within the present range of the line.

41. When a company lengthens its product line beyond its current range, it is .

42. A _______________consists of all the product lines and items that a particular seller offers for sale.

43. Product mix

refers to the number of different product lines the company carries. Procter & Gamble

markets 250 brands organized into many product lines.

44. Product mix                refers to the number of versions offered of each product in the line. Crest toothpaste comes in 13 varieties, ranging from Crest Multicare to Crest Baking Soda formulations.

45. The                  of the product mix refers to how closely related the various product lines are in end use, production requirements, distribution channels, or some other way.

46. A company can increase its business in four ways. Which is NOT one of these ways?

47. Some analysts see               as the major enduring asset of a company, outlasting the company's specific products and facilities.

48. A key element in a company's relationship with consumers, a    represents consumers' perceptions and feelings about a product and its performance.

49. Which of the following is NOT one of the four consumer perception dimensions used by ad agency Young & Rubicam to measure brand strength?

50. The total financial value of a brand is estimated through the process of brand          .

51. 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.

52. Which of the following is the lowest level on which marketers can position their brands in target customers' minds?

53. The strongest brands go beyond attributes or benefit positioning; they are positioned on   .

54. Which of the following is NOT a desirable quality for a brand name?

55. All of the following are a manufacturer's sponsorship options for a product EXCEPT   .

56. 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.

57. An increasing number of retailers and wholesalers have created their own , also called store brands.

58. 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.

59.                    occurs when two established brand names of different companies are used on the same product.

60. In most                 situations, one company licenses another company's well-known brand to use in combination with its own.

61. Which of the following is an advantage offered by co-branding?

62. A company has four choices when it comes to developing brands. What is NOT one of those choices?

63.                    occur(s) when a company introduces additional items in a given product category under the same brand name, such as new flavors, forms, colors, ingredients, or package sizes.

64. A                   involves the use of a successful brand name to launch new or modified products in a new category.

65. Which of the following is a potential drawback of multibranding?

66. Which strategy involves weeding out weaker brands and focusing marketing dollars only on brands that can achieve the number-one or number-two market share positions in their categories?

67. Major brand marketers often spend huge amounts on advertising to create brand and to build preference and loyalty.

68. While advertising campaigns can help to create name recognition, brand knowledge, and maybe even some brand preference, brands are not maintained by advertising but by           .

69. Service providers must consider four special characteristics when designing marketing programs. Which is NOT one of these characteristics?

70.                    means that services cannot be seen, tasted, felt, heard, or smelled before they are bought.

71.                    means that services cannot be separated from their providers, whether the providers are people or machines.

72. Which of the following is NOT one of the links in the service-profit chain, linking service firm profits with employee and customer satisfaction?

73. Through                 , the service firm trains and motivates its customer-contact employees and supporting service people to work as a team to provide customer satisfaction.

74. Because service quality depends on the quality of buyer-seller interaction during the service encounter, service marketers use  to train employees in the art of interacting with customers to satisfy their needs.
75. All of the following are methods for developing a differentiated service offer, delivery, or image EXCEPT

                  .

76. When the Twin Six Cafe provides gourmet menu options to its customers, as well as impeccable service which even allows customers to hand-select their own cuts of meat      is(are) are evident.

77. A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania, from locally grown wood is an example of a(n)            .

78. You have an upset stomach. Your spouse rushes to the corner convenience store for a bottle of Pepto-Bismol. This product is a(n) product.

79. Mabel Lu is planning to buy a new washing machine. She notices that they come in numerous price ranges. She wants to make sure she gets the most for her money. This product is a(n)  product.

80. Which of the following does NOT belong to the materials and parts group of industrial products?

81. Which of the following capital items is NOT considered accessory equipment?

82. Paper, pencils, lubricants, paint, nails, and brooms are examples of  

83. General Electric's campaign stating, "We bring good things to life" is an example of  .
84. "I love New York" is an example of             .
85. The Ad Council of America has developed dozens of        marketing campaigns, including classics such as "Smokey the Bear," "Keep America Beautiful," and "Only You Can Prevent Forest Fires."

86. To achieve their social change objectives, social marketing programs    .

87. Which of the following is the most important for product designers to consider as they develop a product?

88. Helene Curtis began to market shampoo for normal hair. In an attempt to increase profits and use excess market capacity, Helene Curtis then marketed shampoo for oily hair and color-treated hair. This is an example of        
89. Which of the following is(are) examples of product line depth?

90. Chicken of the Sea brand tuna sells more than the same size Kroger brand tuna, even though the Kroger tuna costs $0.15 less per can. Chicken of the Sea has brand         .

91. A manager of a Holiday Inn said, "We have power and value in the market and people are willing to pay for it." This manager is referring to             .

92. Costco's Kirkland products are an example of a(n)        .

93. An apparel marketer is planning to launch an existing brand name into a new product category. Which brand development strategy is being implemented?

94. Each new iPod product introduction advances the causes of democratizing technology and approachable innovation. iPod, an expert at fostering customer community, has been ranked one of the Breakaway Brands by the brand consultancy Landor Associates. iPod is positioned on                .

95. Manor Plaza Barber's customers have noticed that the quality of a haircut depends on who provides it as well as when, where, and how it is provided. What have the customers noticed?

96. The impossibility of a barber storing haircuts for later sale is an example of which of the following?

97. Gina's Nail Salon is serious about pleasing its customers. Employees are trained to immediately and pleasantly respond to any customer complaints, and they are empowered to offer discounts and free add-ons to customers who believe they have received anything less than the best service. Gina's Nail Salon focuses on            .

Refer to the scenario below to answer the following questions.

Herb Marks built his enterprise on the faithful patronage of four specialty shops and a large contract from Elmore Distributors. But after two years, the maker of novelty pens and pencils had to rethink his strategy when his two-year contract with Elmore ended.

Herb built a company reputation on the manufacture and distribution of a variety of wooden writing utensils with customized engravings. Specialty shops loved to display the products in their fancy, lighted showcases, but such specialty shops alone were not profitable. Herb Marks established a brand name, known merely as Marks, and decided to expand on it.

Herb extended his writing utensil lines to include quills, felt-tip pens, and multiple-cartridge pens that write in different colors. He even added a line of various grades of personalized stationery and business cards. Perhaps Herb's biggest added touch, however, was the addition of two salespeople who would work to explain the diverse array of products offered by Marks, as well as nurture existing accounts.

"We make an excellent product," Herb Marks stated, "and we honor a good guarantee on everything we sell. But let's face it?we face hundreds of competitors! We need Marks representatives out there to help prospects understand what they should demand in something as simple as a writing tool."

The Marks brand was fast-becoming synonymous with top-notch customer service. Part of the purchase package brought personal visits from the Marks representative, before the purchase and long after.

98. An easier, more comfortable, more stylish transfer of thought onto paper is the      of Herb's offerings.
99. What type of consumer products does Marks manufacture?

100. The new felt-tip pens, multiple-cartridge pens, and quills are all examples of .

101. A service is anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need.

102. Sony offers consumers more than just camcorders; it provides consumers with a complete solution to their picture-taking problems. This offering is called an augmented product.

103. Unsought products are products that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort.

104. Shopping products are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.

105. Style is a larger concept than design. Design describes the appearance of a product.

106. Branding can add consumer value to a product.

107. Because so many purchase decisions are made in stores, a product's packaging may be a seller's last and best chance to influence consumers.

108. Product support services identify the product or brand, describe several things about the product, and promote the product through attractive graphics.

109. Quaker produces a variety of cereals. This variety is called its product line.