Building Customer Value: Question and Answer

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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. D) product
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. B) Services

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
4) To differentiate themselves, many companies are going beyond products and services, they are developing and delivering customer ________. B) experiences
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?" C) core customer value

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. B) augmented product

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. D) augment
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
9) ________ are products and services bought by final consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products. B) Consumer 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. A) Shopping 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. C) Specialty products

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. C) Unsought products

13) ________ are those products purchased for further processing or for use in conducting a business. D) Industrial products
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. B) industrial users
15) ________ are industrial products that aid in the buyer's production or operations, including installations and accessory equipment. C) Capital items
16) ________ consists of activities undertaken to create, maintain, or change the attitudes and behavior of target consumers toward an organization. B) Organization 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
Answer: B
Diff: 1Page Ref: 228
AACSB: Communication
Skill: Concept
Objective: 8-1

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
Answer: B
Diff: 1Page Ref: 228
AACSB: Communication
Skill: Concept
Objective: 8-1

19) ________ is defined as the use of commercial marketing concepts and tools in programs designed to influence individuals' behavior to improve...
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