Reviewer for Marketing

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.

Ans; 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.

Ans; 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.

Ans; market offering

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

Ans; 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?"

Ans; 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.

Ans; 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.

Ans; 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.Ans; 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...