Chapter 8

Question 1

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

Answer 1

product

Question 2

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

Answer 2

service

Question 3

A product bought by final consumers for personal consumption.

Answer 3

consumer product

Question 4

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

Answer 4

convenience product

Question 5

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

Answer 5

shopping product

Question 6

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

Answer 6

specialty product

Question 7

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

Answer 7

unsought product

Question 8

A product bought by individuals and organizations for further processing or for use in conducting a business.

Answer 8

industrial product

Question 9

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

Answer 9

social marketing

Question 10

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

Answer 10

product quality

Question 11

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.

Answer 11

brand

Question 12

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

Answer 12

packaging

Question 13

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

Answer 13

Product line

Question 14

The set of all product lines and items that a particular seller offers for sale.

Answer 14

Product mix (or product portfolio)

Question 15

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

Answer 15

Service intangibility

Question 16

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

Answer 16

Service inseparability

Question 17

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

Answer 17

Service variability

Question 18

Services cannot be stored for later sale or use.

Answer 18

Service perishability

Question 19

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

Answer 19

service profit chain

Question 20

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

Answer 20

Internal marketing

Question 21

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

Answer 21

interactive marketing

Question 22

The differential effect that knowing the brand name has on customer response to the product or its marketing.

Answer 22

brand equity

Question 23

The total financial value of a brand.B

Answer 23

brand value

Question 24

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

Answer 24

Store brand (or private brand)

Question 25

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

Answer 25

Co-branding

Question 26

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

Answer 26

line extension

Question 27

Extending an existing brand name to new product categories.

Answer 27

brand extension