Deck 6: Creating Offerings

Question 1

When new product is added to a product line,the line breadth of the company is increased.

Answer 1

False

Question 2

When a feature satisfies a need or want,then there is a _____.

A)reduction of hassle
B)level of high quality
C)benefit
D)hike in price
E)tangible value

Answer 2

C

Question 3

A(n)_____ is a characteristic of an offering.

A)tangible good
B)feature
C)intangible value
D)price point
E)need

Answer 3

B

Question 4

A _____ is the use of information technology to allow owners of assets to increase utilization of their assets,whether for money or exchange of other goods or services.

A)sharing economy
B)service economy
C)product economy
D)barter economy
E)network economy

Question 5

The entire assortment of products that a firm offers is called the product line.

Question 6

A service is the tangible component of an offering.

Question 7

A _____ approach to determining the value of an offering would include the time and effort related to owning a product,in addition to the benefits received,the price,and hassle.

A)total cost of ownership (TCO)
B)service-oriented
C)product-oriented
D)product dominant
E)service dominant

Question 8

_____ refers to the services and accessories that improve the core product's ability to deliver benefits.

A)Core product
B)Augmented product
C)Product mix
D)Service
E)Feature

Question 9

_____ refers to the physical component of an offering.

A)Service
B)Benefit
C)Augmented product
D)Core product
E)Product line

Question 10

Offerings are _____.

A)products and services designed to deliver value to customers
B)services that improve a product's ability to deliver benefits
C)the physical components of products
D)tangible goods that can be bought,sold,or owned
E)groups of products or services that serve similar needs

Question 11

GammaTech Inc.has released a new MP3 player.The device is packaged along with a set of compatible headphones and an A/C adapter,and a two-year warranty.Such an offering would be known as a(n)_____.

A)core product
B)augmented product
C)product line
D)product mix
E)complete product

Question 12

A product-dominant approach to marketing is based on the belief that:

A)enjoyment of a product and its disposal are important in understand consumer needs.
B)marketers should consider what services it takes for the customer to acquire their offerings.
C)sales personnel and marketing can drive consumerism.
D)the best way to capture market share is to create and manufacture better products at lower prices.
E)marketers should assess the value customers place on products in their daily lives.

Question 13

The total amount someone pays to own,use,and eventually dispose of a product is the TCO.

Question 14

Price entails how much money a customer gives up to obtain an offering.

Question 15

_____ refers to an approach to offerings that integrates the physical product,attendant services,and price into the total offering.

A)Product oriented
B)Market oriented
C)Service-dominant
D)Product-dominant
E)Service-oriented

Question 16

Trenton Security sells different types of security systems.The company also offers its customers a 24-hour help-line and maintenance services in case there are any problems with the system.These services are known as the _____.

A)core product
B)product mix
C)complete product
D)augmented product
E)product line

Question 17

_____ refers to the number of variations in a single product line.

A)Line depth
B)Product mix
C)Line breadth
D)Product category
E)Complete product

Question 18

A group of related offerings is known as a _____.

A)technology platform
B)product mix
C)service mix
D)product category
E)product line

Question 19

Line depth refers to whether the product line is broad or narrow.

Question 20

The number of different or distinct product lines offered by a company is known as _____.

A)line depth
B)a product mix
C)line breadth
D)a product category
E)a product line

Question 21

The characteristics of an offering are known as the _____.

Question 22

_____ refers to an approach to products and offerings that clearly separates the physical product from services and from price.

Question 23

_____ refers to an intangible component of an offering.

Question 24

_____ refers to a group of offerings that serve similar needs and are sold under the same name.

Question 25

_____ refers to the degree to which a feature satisfies a buyer's need or desire.

Question 26

Milk,fuel,bread,and other examples of life's necessities are specialty offerings.

Question 27

Explain the difference between product line depth and product line breadth.

Question 28

_____ refers to the core technology that is the basis for an offering or product.

Question 29

The fact that many consumers would not consider shopping for a taillight until it is in need of repair is an example of an unsought offering.

Question 30

_____ refers to the amount exchanged by the buyer to receive the value offered by the product or service.

Question 31

The entire assortment of products that a firm offers is known as the _____.

A)product line
B)product mix
C)core product
D)line depth
E)line breadth

Question 32

A consumer opts not to buy Brand B of potato chips when the grocery store is out of Brand A because it is a shopping offering in the eyes of the consumer.

Question 33

Offerings are products and services designed to deliver _____ to customers.

Question 34

_____ refers to the total amount of time and money spent to acquire,use,and dispose of an offering.

Question 35

A _____ is a tangible good that can be bought,sold,and owned.

Question 36

A frequently purchased product that requires little shopping effort is known as an impulse offering.

Question 37

Sharing economies are based on _____ logic.

Question 38

The number of product lines offered by a company is known as _____.

Question 39

Marketers use intensive distribution strategies to ensure consumers see convenience offerings at the right time.

Question 40

A _____ approach to business focuses on capturing business by focusing on creating and manufacturing better products at lower prices.

Question 41

_____ are those that buyers do not generally want to have to shop for until they need them.

A)Convenience offerings
B)Shopping offerings
C)Specialty offerings
D)Unsought offerings
E)Impulse offerings

Question 42

OEM offerings are products and services that keep a company functioning.

Question 43

List and describe the four types of consumer offerings.

Question 44

A crown on a tooth can be considered a(n)_____ offering.

Question 45

_____ are highly differentiated offerings,and the brands under which they are marketed are very different across companies.

A)Convenience offerings
B)Shopping offerings
C)Specialty offerings
D)Unsought offerings
E)Product offerings

Question 46

A(n)_____ offering is purchased without prior planning.

Question 47

Bill never thought that he would need windshield repair,until he got involved in a minor accident.Now he is trying to find a place that will repair the huge crack in his windshield at a low cost.To Bill windshield repairs are _____ offerings.

A)specialty
B)unsought
C)convenience
D)impulse
E)shopping

Question 48

A _____ is one for which the consumer will make an effort to compare and select a brand.

A)convenience offering
B)shopping offering
C)specialty offering
D)unsought offering
E)product offering

Question 49

William is not particular about the brand of rice that he buys.He will buy any brand that he finds at the nearest store.To William,rice is a(n)_____.

A)shopping offering
B)specialty offering
C)unsought offering
D)impulse offering
E)convenience offering

Question 50

The categories in which consumer offerings are placed are based on the characteristic of the offerings themselves.

Question 51

A(n)_____ offering is a low-priced product or service.

Question 52

A manufactured material has been processed into a finished good and is a stand-alone product.

Question 53

_____ are products and services consumers generally don't want to put much effort into shopping for because they see little difference between competing brands.

Question 54

An OEM purchases raw materials,manufactured materials,and component parts and puts them together to make a final product.

Question 55

Manufacturing,repair,and operations offerings are those that keep a company's depreciable assets in working order.

Question 56

Facilitating offerings are products and services a company purchases to support its operations but are not part of the firm's final product.

Question 57

Jenna has always wanted to own a red Ferrari sports car.She has been saving up for years to buy it.Jenna views the Ferrari as a(n)_____.

A)convenience offering
B)shopping offering
C)specialty offering
D)unsought offering
E)product offering

Question 58

Marketing of _____ items is often limited to simply trying to get the product in as many places as possible where a purchase could occur.

A)convenience offerings
B)shopping offerings
C)specialty offerings
D)unsought offerings
E)product offerings

Question 59

After trying out different brands of toothbrushes,Martin has decided that he prefers Oral B the most.Whenever he is out grocery shopping,he always purchases several of these toothbrushes,to stock up in case the store runs out of it in the future.To Martin,Oral B toothbrushes are _____ offerings.

A)shopping
B)unsought
C)specialty
D)convenience
E)impulse

Question 60

At the check-out counter of the convenience store,Laura is given several nickels and dimes as change.Laura hates carrying so much change in her purse so she decides to buy a packet of chewing gum that she spies next to the cash register,at the last minute.In this instance,the chewing gum is a(n)_____.

A)shopping offering
B)convenience offering
C)specialty offering
D)impulse offering
E)unsought offering

Question 61

Holden,Inc.is an advertising agency.Their clients are other businesses that hire them to create advertising campaigns.Which of the following types of offerings does Holden offer?

A)Capital equipment offerings
B)Raw materials offerings
C)Original equipment manufacturer offerings
D)Facilitating offerings
E)Maintenance,repair,and operations offerings

Question 62

A(n)_____ has been processed into a finished good but is not a stand-alone product.

Question 63

List and describe the five types of B2B offerings.

Question 64

_____ include products and services that support an organization's ability to do business but do not go into the final product.

A)Original equipment manufacturing offerings
B)Capital equipment offerings
C)Facilitating offerings
D)Raw materials offerings
E)Maintenance,repair,and operations offerings

Question 65

_____ are materials firms offer other firms so they can make a product or provide a service.

A)Original equipment manufacturing offerings
B)Capital equipment offerings
C)Facilitating offerings
D)Raw materials offerings
E)Maintenance,repair,and operations offerings

Question 66

_____ are often sold by distributors but a consumer can also buy many of the same products at a retail store.

A)Original equipment manufacturer offerings
B)Capital equipment offerings
C)Facilitating offerings
D)Raw materials offerings
E)Maintenance,repair,and operations offerings

Question 67

A brand is used by a seller to differentiate its offerings from that of the competitors.

Question 68

Redmond Inc.is a company that builds and supplies windshields to automobile companies.These windshields are then built into the cars.Which of the following types of offerings characterizes the windshields?

A)Maintenance,repair,and operations offerings
B)Original equipment manufacturer offerings
C)Facilitating offerings
D)Raw materials offerings
E)Capital equipment offerings

Question 69

_____ refers to products,or parts,sold by one manufacturer to another that get built into a final product without further modification.

A)Original equipment manufacturing offerings
B)Capital equipment offerings
C)Facilitating offerings
D)Raw materials offerings
E)Maintenance,repair,and operations offerings

Question 70

Explain the difference in how capital equipment offerings are marketed versus raw materials offerings.

Question 71

Marketing _____ can be very challenging because many people within a firm are involved in the buying decision for these types of products.

A)original equipment manufacturing offerings
B)capital equipment offerings
C)facilitating offerings
D)raw materials offerings
E)maintenance,repair,and operations offerings

Question 72

A brand extension involves the creation of a brand and then positioning it in the mind of the consumer.

Question 73

In the B2B market,banking and transportation services are types of _____.

A)original equipment manufacturing offerings
B)capital equipment offerings
C)facilitating offerings
D)raw materials offerings
E)maintenance,repair,and operations offerings

Question 74

_____ refers to a company that assembles and manufactures a product into its final form.

Question 75

A _____ is a finished good that still has to be incorporated into something else to be usable.

A)manufactured material
B)finalized material
C)component piece
D)dynamic product
E)principle component

Question 76

A _____ is any equipment purchased and used for more than one year and depreciated over its useful life.

Question 77

Wilbur and Sons,Inc.is a company that mines for iron ore.The ore is purified and sold to steel manufacturing companies.Which of the following types of offering does Wilbur and Sons offer?

A)Facilitating offerings
B)Capital equipment offerings
C)Raw materials offerings
D)Maintenance,repair,and operations offerings
E)Original equipment manufacturer offerings

Question 78

_____ offerings are processed only to the point required for economic handling and distribution.

Question 79

An example of a brand mark is the Coca-Cola logo.

Question 80

Explain the difference between raw materials and manufactured materials.