8. Products, services and brands

Question 1

Product

Answer 1

Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.

Question 2

Service

Answer 2

An activity, benefit, or satisfaction offered for sale that is essentially intagible and does not result in the ownership of anything.

Question 3

Core customer value

Answer 3

What is the customer really buying?

Question 4

Actual product

Answer 4

Brand name, Quality level, Packaging, Design, Features

Question 5

Augmented product

Answer 5

After-sale service, Warranty, Product support, Delivery and credit

Question 6

Consumer product

Answer 6

A product bought by final consumers for personal consumption.

Question 7

Convenience product

Answer 7

A consumer products that customers usually buy frequently, immediately, and with minimal comparison and buying effort.

Question 8

Shopping product

Answer 8

A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitablity, quality, price, and style.

Question 9

Specialty product

Answer 9

A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.

Question 10

Unsought product

Answer 10

A consumer product that the consumer either does not knwo about or knows about but does not normally consider buying.

Question 11

Industrial product

Answer 11

A product bought by individuals and organizations for further processing or for use in conducting a business. Materias and parts, capital items, supplies and services.

Question 12

Social marketing

Answer 12

The use of traditional business marketing concept and tools to encourage behaviors that will crate individual and societal well-being.

Question 13

Product quality

Answer 13

The characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.

Question 14

Individual Product Decisions

Answer 14

Product attributes, Branding, Packaging, Labeling and logos, Product Support Services

Question 15

Product and service attributes include:

Answer 15

Product quality, features, style and design

Question 16

Brand

Answer 16

A name, term, sign, symbol, or design, or a combination of these, that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors.

Question 17

Packaging

Answer 17

The activities of designing and producing the container or wrapper for a product.

Question 18

Lables and logos

Answer 18

Range from simple tags attached to products to complex graphics that are part of the packaging. Identify the product or brand, describe several things about it, help promoting the brand and engage customers.

Question 19

Product line

Answer 19

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 types of outlets, or fall within given price ranges. Product line filling and stretching.

Question 20

Product mix

Answer 20

The set of all product lines and items that a particular seller offers for sale. product mix width, length, depth consistency.

Question 21

Service intangibility

Answer 21

Services cannot be seen, tasted, felt, heard, or smelled before they are bought.

Question 22

4 service characteristics

Answer 22

Intangibility, Variability, Iseparability, Perishability

Question 23

Service iseparability

Answer 23

Services are produced and consumed at the same time and cannot be separated from their providers.

Question 24

Service variability

Answer 24

The quality of services may vary greatly depending on who provides them and when, where, and how they are provided.

Question 25

Service perishability

Answer 25

Services cannot be stored for later sale or use.

Question 26

Service profit chain

Answer 26

The chain that links service firm profits with employee and customer satisfaction.

Question 27

The 5 links in the service profit chain

Answer 27

Internal service quality, satisfied and productive service employees, Greater service value, Satisfied and loyal customers, Healthy service profits and growth.

Question 28

Internal Marketing

Answer 28

Orienting and motivating customer-contact employees and suporting service employees to work as a team to provide customer satisfaction.

Question 29

Interactive marketing

Answer 29

Training service employees in the fine art of interacting with customers to satisfy their needs.

Question 30

Marketing tasks of service companies

Answer 30

Managing service differentiation (offer, delivery and image), service quality, service productivity

Question 31

Brand equity

Answer 31

The differential effect that knowing the brand name has on customer response to the product or its marketing. Brand differentiation, relevance, knowledge, esteem.

Question 32

Brand value

Answer 32

The total financial value of a brand.

Question 33

Brand strategy decisions

Answer 33

Brand postionong (attributes, benefits, beliefs and values), name selection (selection, protection), sponsorship and development.

Question 34

Store brand (Private brand)

Answer 34

A brand created and owned by a reseller of a product or service.

Question 35

Co-branding

Answer 35

The practice of using the established brand names of two different companies on the same product.

Question 36

Line extention

Answer 36

Extending an existing brand name to new forms, colors, sizes, ingredients, or flavors, of an existing product category.

Question 37

Brand extention

Answer 37

Extending an existing brand name to new product categories.

Question 38

Brand development strategies

Answer 38

Line extention, brand extention multibrands and new brands