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1MarketingRevisionPartIIChapter8Product,Services,andBrandingStrategies:BuildingCustomerValue1)Wedefinea________asanythingthatcanbeofferedtoamarketforattention,acquisition,use,orconsumptionandthatmightsatisfyawantorneed.A)privatebrandB)servicevariabilityC)serviceD)productE)serviceencounterAnswer:DDiff:1PageRef:224AACSB:CommunicationSkill:ConceptObjective:8-12)________areaformofproductthatconsistsofactivities,benefits,orsatisfactionsofferedforsalethatareessentiallyintangibleanddonotresultintheownershipofanything.A)LineextensionsB)ServicesC)BrandsD)ConsumerproductsE)SupplementsAnswer:BDiff:1PageRef:224AACSB:CommunicationSkill:ConceptObjective:8-13)Aproductisakeyelementinthe________.Atoneextreme,itmayconsistofpuretangiblegoodsorattheotherextreme,pureservices.A)marketofferingB)brandequityC)brandextensionD)co-brandingE)valuechainAnswer:ADiff:1PageRef:224AACSB:CommunicationSkill:ConceptObjective:8-124)Todifferentiatethemselves,manycompaniesaregoingbeyondproductsandservices,theyaredevelopinganddeliveringcustomer________.A)qualityB)experiencesC)brandsD)productlinesE)eventsAnswer:BDiff:2PageRef:224AACSB:CommunicationSkill:ConceptObjective:8-15)Productplannersneedtoconsiderproductsandservicesonthreelevels.Eachleveladdsmorecustomervalue.Themostbasiclevelisthe________,whichaddressesthequestion,Whatisthebuyerreallybuying?A)actualproductB)augmentedproductC)corecustomervalueD)co-brandingE)exchangeAnswer:CDiff:2PageRef:225AACSB:CommunicationSkill:ConceptObjective:8-16)Developingaproductorserviceinvolvesdefiningthebenefitsthatitwilloffer.Thesebenefitsarecommunicatedanddeliveredby________suchasquality,features,andstyleanddesign.A)privatebrandsB)productattributesC)consumerproductsD)productmixesE)marketingtoolsAnswer:BDiff:3PageRef:229AACSB:CommunicationSkill:ConceptObjective:8-237)________isoneofthemarketer'smajorpositioningtoolsbecauseithasadirectimpactonproductorserviceperformance;itisthereforecloselylinkedtocustomervalueandsatisfaction.A)PackagingB)ProductqualityC)TotalqualitymanagementD)SpecialtyproductmarketingE)PositioningAnswer:BDiff:2PageRef:229AACSB:CommunicationSkill:ConceptObjective:8-28)________isanapproachinwhichallthecompany'speopleareinvolvedinconstantlyimprovingtheproducts,services,andbusinessprocesses.A)ProductqualityB)BrandequityC)TotalqualitymanagementD)SpecialtyproductmarketingE)PositioningAnswer:CDiff:2PageRef:230Skill:ConceptObjective:8-29)Whatarethetwodimensionsofproductquality?A)consistencyandlevelB)performanceandresistanceC)designandinnovationD)conformanceandstyleE)featureanddesignAnswer:ADiff:2PageRef:230Skill:ConceptObjective:8-2410)Whichofthefollowingtypesofqualityreferstofreedomfromdefectsandconsistencyindeliveringatargetedlevelofperformance?A)privatebrandB)productC)totalqualitymanagementD)conformanceE)adherenceAnswer:DDiff:2PageRef:230Skill:ConceptObjective:8-211)Someanalystssee________asthemajorenduringassetofacompany,outlastingthecompany'sspecificproductsandfacilities.A)brandsB)convenienceproductsC)specialtyproductsD)unsoughtproductsE)staplesAnswer:ADiff:1PageRef:235AACSB:CommunicationSkill:ConceptObjective:8-312)Akeyelementinacompany'srelationshipwithconsumers,a________representsconsumers'perceptionsandfeelingsaboutaproductanditsperformance.A)productlineB)productexperienceC)brandD)serviceE)productattributeAnswer:CDiff:2PageRef:236AACSB:CommunicationSkill:ConceptObjective:8-3513)WhichofthefollowingisNOToneofthefourconsumerperceptiondimensionsusedbyadagencyYoung&Rubicamtomeasurebrandstrength?A)branddifferentiationB)brandknowledgeC)brandvaluationD)brandesteemE)brandrelevanceAnswer:CDiff:3PageRef:236AACSB:CommunicationSkill:ConceptObjective:8-314)Thetotalfinancialvalueofabrandisestimatedthroughtheprocessofbrand________.A)differentiationB)valuationC)extensionsD)positioningE)equityAnswer:BDiff:2PageRef:236AACSB:CommunicationSkill:ConceptObjective:8-315)Thefundamentalassetunderlyingbrandequityis________–-thevalueofthecustomerrelationshipsthatthebrandcreates.Apowerfulbrandisimportant,butwhatitreallyrepresentsisasetofloyalconsumers.A)thecustomermixB)customerequityC)lineequityD)servicevariabilityE)theserviceencounterAnswer:BDiff:3PageRef:238AACSB:CommunicationSkill:ConceptObjective:8-316)________meansthatservicescannotbeseparatedfromtheirproviders,whethertheprovidersarepeopleormachines.A)ServiceintangibilityB)ServiceinseparabilityC)ServicevariabilityD)Serviceperishability6E)ServiceheterogeneityAnswer:BDiff:1PageRef:245Skill:ConceptObjective:8-417)WhichofthefollowingisNOToneofthelinksintheservice-profitchain,linkingservicefirmprofitswithemployeeandcustomersatisfaction?A)internalservicequalityB)evidencemanagementC)satisfiedandproductiveserviceemployeesD)satisfiedandloyalcustomersE)healthyserviceprofitsandgrowthAnswer:BDiff:3PageRef:246Skill:ConceptObjective:8-418)Through________,theservicefirmtrainsandmotivatesitscustomer-contactemployeesandsupportingservicepeopletoworkasateamtoprovidecustomersatisfaction.A)serviceinseparabilityB)serviceintangibilityC)servicevariabilityD)internalmarketingE)externalmarketin