MRK201 chapter 8 Copy - marketing PDF

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Principles of Marketing, 1 7e (Kotler/Armstrong) Chapter 8 Products, Services, and Brands: Building Customer Value1 ) Which of the following is true with regard to products? A) The quality of products is far more difficult to measure than that of services. B) Products do not include experiences, org...

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Principles of Marketing, 1 7e (Kotler/Armstrong) Chapter 8 Products, Services, and Brands: Building Customer Value 1 ) Which of the following is true with regard to products? A) The quality of products is far more difficult to measure than that of services. B) Products do not include experiences, organizations, persons, places, and ideas. C) Products are not meant for sale in the market. D) Products include services, events, persons, places, organizations, ideas, or a mixture of these. E) Products refer to only those activities that are essentially intangible. Answer: D AACSB: Analytical thinking Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy 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) Liabilities B) Services C) Brands D) Consumer products E) Specialty products Answer: B AACSB: Analytical thinking Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy 3) Which of the following exemplifies a service? A) candy B) laptop C) hair salon D) car E) laundry detergent Answer: C AACSB: Analytical thinking Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Moderate

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4) Marketing mix planning begins with A) building an offering that brings value to target customers B) finding a suitable promotion strategy for the product C) setting a reasonable price for the product D) selecting the right channel for distribution of the product E) calculating the total costs involved in manufacturing the product Answer: A AACSB: Application of knowledge Skill: Concept Objective: LO 8. L Define product and describe the major classifications of products and services. Difficulty: Moderate 5) Market offering includes everything from pure tangible goods to pure services, as well as combinations of goods and services. Which of the following is NOT a product or service? A) breakfast cereal B) rental car C) free concert D) shoes E) haircut Answer: C AACSB: Application of knowledge Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Moderate 6) Which of the following is true with regard to services? A) Services refer to purely tangible products. B) Services are a form of product that consists of activities, benefits, or satisfactions offered for sale. C) Services can be stored for later use. D) Services can be easily separated from their providers. E) Services are tangible product offerings whose quality can be easily measured. Answer: B AACSB: Analytical thinking Skill: Concept Objective: LO 8.1: Define product and describe the major classifications of products and services. Difficulty: Moderate

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7) Which of the following is an example of a pure tangible good? A) a laptop with a comprehensive warranty for three years B) an online shoe retailer that provides free home delivery C) an agency that offers free legal advice D) a credit card E) a bag of potato chips Answer: E AACSB: Analytical thinking Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Moderate 8) Which of the following product offerings is intangible? A) a package of laundry detergent B) an ink cartridge for a printer C) a wool jacket D) a gold ring E) a taxi ride Answer: E AACSB: Analytical thinking Skill: Concept Objective: LO 8.1: Define product and describe the major classifications of products and services. Difficulty: Moderate 9) Which of the following is a goods-and-services combination? A) a bicycle B) a milk shake at an ice cream store C) chocolate chips D) a train ride E) a music lesson Answer: B AACSB: Application of knowledge Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Moderate

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10) Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is , which addresses the question, "What is the buyer really buying?" A) an actual product B) an augmented product C) core customer value D) co-branding E) exchange value Answer: C AACSB: Application of knowledge Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy 11) Product planners need to consider products and services on three levels. At the second . level, product planners must A) offer additional product support and after-sale services B) identify the core customer value that consumers seek from the product C) turn the core benefit into an actual product D) find out how they can create the most satisfying brand experience E) define the problem-solving benefits or services that consumers seek Answer: C AACSB: Application of knowledge Skill: Concept Objective: LO 8.1: Define product and describe the major classifications of products and services. Difficulty: Moderate 12) If a consumer purchases a new flat-screen "smart" television which can connect to services like Netflix and Pandora, what is the core customer value involved? A) connection to entertainment and information B) state-of the art technology C) slick and attractive packaging D) brand name E) tech support and warranty Answer: A AACSB: Application of knowledge Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Moderate

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13) If a consumer purchases a new flat-screen "smart" television, what is the augmented product involved? A) connection to the world of entertainment B) state-of the art technology C) slick and attractive packaging D) brand name E) tech support and warranty Answer: E AACSB: Application of knowledge Skill: Concept Objective: LO 8. 1 : Define product and describe the major classifications of products and services. Difficulty: Moderate 14) Product planners need to consider products and services on three levels. At the third level, product planners must build . A) an actual product B) an augmented product C) core customer value D) a brand personality E) a basic product Answer: B AACSB: Application of knowledge Skill: Concept Objective: L O 8. 1 : Define product and describe the major classifications of products and services. Difficulty: Easy 15) What is the core customer value a customer might purchase when buying Urban Decay cosmetics? A) variety of collections B) unique packaging C) unusual colors D) sense of adventure E) long-lasting makeup Answer: D AACSB: Application of knowledge Skill: Concept Objective: L O 8. 1 : Define product and describe the major classifications of products and services. Difficulty: Moderate

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16) are industrial products. A) Major appliances B) Laundry detergents C) Life insurance policies D) Office supplies E) Legal services Answer: D Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy 1 7) Consumer products refer to A) products purchased by consumers for further processing or for use in conducting a business B) products and services bought by final consumers for personal consumption C) primarily intangible offerings from marketers D) raw materials as well as manufactured materials and parts E) products that aid in the consumer’s production or operations, including installations and accessory equipment Answer: B AACSB: Analytical thinking Skill: Concept Objective: LO 8.1: Define product and describe the major classifications of products and services. Difficulty: Easy 18) are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. A) Unsought products B) Capital items C) Shopping products D) Convenience products E) Supplies and repair services Answer: D AACSB: Analytical thinking Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy

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19) Which of the following is an example of a convenience product? A) fast food B) diamond ring C) furniture D) life insurance E) refrigerator Answer: A AACSB: Analytical thinking Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Moderate 20) are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style. A) Shopping products B) Convenience products C) Unsought products D) Capital items E) Supplies and repair services Answer: A Skill: Concept Objective: LO 8.1: Define product and describe the major classifications of products and services. Difficulty: Easy 21) Which of the following is NOT a category of consumer products? A) unsought B) specialty C) convenience D) luxury E) shopping Answer: D Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy

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22) Erica wants to replace her old washing machine with a new one. In order to get the maximum value for her money, she plans to spend substantial time and effort in gathering information and making product comparisons before making the actual purchase. In this instance, Erica is planning to buy a(n) product. A) convenience B) unsought C) specialty D) shopping E) exclusive Answer: D AACSB: Application of knowledge Skill: Application Objective: LO 8.1: Define product and describe the major classifications of products and services. Difficulty: Moderate 23) 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) Capital items E) Convenience products Answer: C AACSB: Analytical thinking Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy 24) A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania, . from locally grown wood, is an example of a A) convenience product B) capital item C) service D) specialty product E) product attribute Answer: D AACSB: Application of knowledge Skill: Application Objective: LO 8.1: Define product and describe the major classifications of products and services. Difficulty: Moderate

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25) are consumer products that the consumer either does not know about or knows about but does not normally think about buying. A) Specialty products B) Convenience products C) Unsought products D) Shopping products E) Capital items Answer: C AACSB: Application of knowledge Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy 26) products are those products purchased for further processing or for use in conducting a business. A) Unsought B) Specialty C) Shopping D) Industrial E) Convenience Answer: D AACSB: Application of knowledge Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy 27) are the major marketing factors in the sale of most manufactured materials and parts. A) Branding and advertising B) Price and service C) Sales promotion and advertising D) Branding and packaging E) Public relations and brand management Answer: B AACSB: Application of knowledge Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy

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28) are industrial products that aid in the buyer's production or operations, including installations and accessory equipment. A) Unsought products B) Convenience products C) Capital items D) Specialty items E) Repair items Answer: C AACSB: Application of knowledge Skill: Concept Objective: LO 8.1: Define product and describe the major classifications of products and services. Difficulty: Easy 29) Installations consist of A) highly priced luxury goods such as Rolex watches B) portable office equipment such as computers C) major purchases such as elevators D) portable factory equipment such as hand tools E) products such as insurance Answer: C AACSB: Application of knowledge Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Moderate 30) Lubricants, coal, paper, and pencils are examples o f . A) operating supplies B) capital items C) raw materials D) specialty products E) installations Answer: A AACSB: Application of knowledge Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Moderate

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31) Industrial products and services include raw materials, buildings, fixed equipment, supplies, services, and . A) computers and desks B) electricity C) groceries D) insurance E) employees Answer: A Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy 32) marketing consists of activities undertaken to create, maintain, or change the attitudes and behaviors of target consumers toward an organization. A) Social network B) Organization C) Niche D) Location E) Concentrated Answer: B AACSB: Application of knowledge Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy 33) The advertising slogan, "We bring good things to life," used by General Electric to market itself, is an example of marketing. A) person B) corporate image C) internal D) place E) niche Answer: B AACSB: Analytical thinking Skill: Application Objective: LO 8.1: Define product and describe the major classifications of products and services. Difficulty: Moderate

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34) marketing consists of activities undertaken to create, maintain, or change attitudes toward particular people. People ranging from presidents, entertainers, and sports figures to professionals such as doctors, lawyers, and architects use it to build their reputations. A) Corporate image B) Person C) Social D) Organization E) Place Answer: B AACSB: Analytical thinking Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy 35) A company that uses well-known celebrities to help sell its products is using marketing. A) interactive B) internal C) social D) person E) organization Answer: D AACSB: Application of knowledge Skill: Concept Objective: LO 8.1: Define product and describe the major classifications of products and services. Difficulty: Moderate 36) marketing involves activities undertaken to create, maintain, or change attitudes toward particular cities, states, or regions. A) Idea B) Place C) Organization D) Social E) Interactive Answer: B AACSB: Application of knowledge Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Easy

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37) Tourism Australia's global marketing campaign, "There's nothing like Australia" is an example of marketing. A) corporate image B) person C) organization D) internal E) place Answer: E AACSB: Analytical thinking Skill: Application Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Moderate 38) Advertising campaigns involving issues ranging from health care, education, and environmental sustainability to human rights and personal safety can be classified under marketing. A) corporate image B) internal C) social D) place E) person Answer: C AACSB: Analytical thinking Skill: Concept Objective: LO 8.1: Define product and describe the major classifications of products and services. Difficulty: Easy 39) Elmo Inc., a Michigan-based manufacturer of athletic shoes, uses professional athletes in its ad campaigns to help sell its products. This is an example of marketing. A) person B) place C) social D) organization E) internal Answer: A AACSB: Analytical thinking Skill: Application Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Moderate

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40) Public health campaigns designed to reduce alcoholism, drug abuse, smoking, and obesity are all examples of marketing. A) internal B) social C) organization D) person E) place Answer: B AACSB: Ethical understanding and reasoning Skill: Concept Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Moderate 41) Rhodia invites tourists from all over the world to experience its pristine nature, clear skies, and beautiful summertime climate. This exemplifies . A) corporate image marketing B) social marketing C) place marketing D) social engineering E) negative brand equity Answer: C AACSB: Analytical thinking Skill: Application Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Moderate

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Refer to the scenario below to answer the following question(s). Ruben Delgado 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 contract with Elmore ended. Ruben built a company reputation on the manufacturing 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. Ruben Delgado established a brand name, known merely as Delgado, and decided to expand on it. Ruben 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 Ruben's biggest added touch, however, was the addition of two salespeople who would work to explain the diverse array of products offered by Delgado, as well as nurture existing accounts. "We make an excellent product," Ruben Delgado stated, "and we honor a good guarantee on everything we sell. But let's face it —we face hundreds of competitors! We need Delgado representatives out there to help prospects understand what they should demand in something as simple as a writing tool." The Delgado brand was fast-becoming synonymous with top-notch customer service. Part of the purchase package brought personal visits from the Delgado representative, before the purchase and long after. 42) An easier, more comfortable, more stylish transfer of thought onto paper refers to the of Ruben's offerings. A) tangible element B) core customer value C) actual product D) augmented product E) service variability Answer: B AACSB: Analytical thinking Skill: Application Objective: LO 8. 1: Define product and describe the major classifications of products and services. Difficulty: Challenging

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43) Which type of product does Delgado manufacture? A) industrial B) convenience C) specialty D) shopping E) unsought Answer: C AACSB: Analytical thinking Skill: Application Objective: LO 8. 1: Define product and d...