Question 1

________ 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)Line extensions
B)Services
C)Brands
D)Consumer products
E)Supplements

Accepted Answer

Services are a form of product that are intangible and do not result in the ownership of anything. They consist of activities, benefits or satisfactions offered for sale, such as consulting, legal representation, health care, and education. Line extensions, brands, consumer products, and supplements are not necessarily intangible and may result in the ownership of something.

Question 2

________ are products and services bought by final consumers for personal consumption.These include convenience products,shopping products,specialty products and unsought products.
A)Services
B)Consumer products
C)Line extensions
D)Industrial products
E)Straight extensions

Accepted Answer

Consumer products are products and services sold to final consumers for personal consumption. This includes convenience products that are frequently purchased with minimal effort, shopping products that consumers will seek out and compare prices on, specialty products that consumers have a strong preference for and will make a special effort to find, and unsought products that consumers either do not know about or do not want to think about.

Question 3

You are planning to buy a new washing machine,and notice that they come in many price ranges.You want to make sure you get the most for your money.This product is a(n)________ product.
A)augmented
B)specialty
C)convenience
D)shopping
E)unsought

Accepted Answer

A washing machine is a product that requires some research and comparison before purchasing, making it a shopping product. The consumer will want to compare prices and features to ensure they are getting the best value for their money.

Question 4

To differentiate themselves,many companies go beyond offering products and services;they are also developing and delivering customer ________.
A)feedback
B)experiences
C)brands
D)product lines
E)events

Accepted Answer

Offering customer experiences is a way for companies to set themselves apart and create a unique value proposition for their customers. Providing feedback, brands, product lines, and events can all be a part of the overall customer experience, but they are not the sole focus.

Question 5

The third level of a product that product planners consider is a(n)________ around the core benefit and actual product that offers additional consumer services and benefits.
A)augmented product
B)brand equity
C)brand extension
D)industrial product
E)image

Accepted Answer

The augmented product level includes additional services and benefits beyond the core benefit and actual product. This can include warranties, delivery, customer support, and installation.

Question 6

________ are consumer products that the consumer either does not know about or knows about but does not normally think about buying.These products require a lot of advertising,personal selling and other marketing efforts.
A)Specialty products
B)Line extensions
C)Unsought products
D)Shopping products
E)Convenience products

Accepted Answer

Unsought products are those which are not sought by the consumer or are not actively looked for by them. Examples include funeral services and life insurance. These products require a lot of marketing efforts in terms of advertising, personal selling, and other promotional activities to create awareness among the consumers.

Question 7

________ 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)Industrial products
E)Line extensions

Accepted Answer

Specialty products are products that have unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. Examples include luxury goods like designer clothing, high-end electronics, and exclusive services like specialty medical treatments.

Question 8

Product is a key element in a company's ________,which may,at one extreme,consist of pure tangible goods or,at the other extreme,pure services.
A)market offering
B)brand equity
C)brand extension
D)co-branding
E)core customer value

Accepted Answer

The term "product" refers to a company's market offering, which can be either tangible goods or services. Therefore, option A is the best choice. Brand equity, brand extension, co-branding, and core customer value are all related to different aspects of marketing strategy, but they do not directly relate to the definition of a product.

Question 9

Product planners consider products and services on three levels.The most basic level is the ________,which addresses the question,'What is the buyer really buying?'.
A)actual product
B)augmented product
C)core customer value
D)co-branding
E)exchange

Accepted Answer

The core customer value is the most basic level and addresses what the buyer is really buying. The actual product is the second level which includes the physical product and its features, while the augmented product is the third level which includes additional services or features that enhance the product's value to the customer. Co-branding refers to two or more companies partnering together to promote their brands, and exchange refers to the act of obtaining a desired product or service by offering something of value in return.

Question 10

A ________ is defined as anything that can be offered to a market for attention,acquisition,use or consumption that might satisfy a want or need.
A)private brand
B)service variability
C)service
D)product
E)service encounter

Accepted Answer

The definition given fits the definition of a product - something that can be offered to a market to satisfy a want or need. Private brand refers to a brand created by a retailer or reseller rather than the manufacturer. Service variability and service encounter are specific terms related to services, and while a service can satisfy a want or need, the definition given is broader than just services.

Question 11

________ are less frequently purchased consumer products and services that customers compare carefully on suitability,quality,price and style.Consumers spend much time and effort in gathering information and making comparisons about these products.
A)Shopping products
B)Convenience products
C)Unsought products
D)Industrial products
E)Line extensions

Accepted Answer

Shopping products are characterized by customers spending considerable time and effort in researching and comparing products before making a purchase. They are less frequently purchased compared to convenience products, and customers often compare these products on the basis of suitability, quality, price, and style. Examples of shopping products include furniture, clothing, and electronics.

Question 12

When a restaurant provides gourmet menu options to its customers,as well as impeccable service which even allows customers to hand-select their own cuts of meat,________ is\are evident.
A)only an actual product
B)only an augmented product
C)only a core benefit
D)both a core benefit and an actual product
E)a core benefit,an actual product and an augmented product

Accepted Answer

The gourmet menu options and impeccable service provided by the restaurant offer both core benefits (delicious food and a pleasant dining experience) as well as actual products (the food and cutting the meat to the customer's preference) and augmented products (the added value of being able to select your own meat). Therefore, all three categories of products are evident in this scenario.

Question 13

You have an upset stomach after overindulging last night.Your partner rushes to the corner convenience store for a bottle of Gavascon,an antacid tablet.This product is a(n)________ product.
A)unsought
B)convenience
C)augmented
D)shopping
E)specialty

Accepted Answer

Gavascon, an antacid tablet, is a product that is commonly found at convenience stores and is usually purchased in response to an immediate need, such as an upset stomach. Therefore, it is considered a convenience product.

Question 14

________ are those products purchased for further processing or for use in conducting a business.
A)Unsought products
B)Specialty products
C)Shopping products
D)Industrial products
E)Accessories

Accepted Answer

Industrial products are purchased for further processing or for use in conducting a business. These products are used as inputs in the production of other goods and services. Examples of industrial products include raw materials, components, machinery, and equipment.

Question 15

Product planners must design the actual product and also find ways to ________ it in order to create the bundle of benefits that will create the most customer value.
A)promote
B)package
C)brand
D)augment
E)present

Accepted Answer

Augment means to add to or enhance something. Therefore, product planners must design the actual product and find ways to enhance it in order to create the most customer value.

Question 16

Products and services fall into two broad classifications based on the types of consumers that use them.Which of the following is one of these broad classes?
A)industrial products
B)specialty products
C)supplies and services
D)materials and parts
E)convenience products

Accepted Answer

The two broad classes of products and services are consumer products and industrial products. Option A, Industrial products, falls under the category of products that are utilized by businesses and organizations in the process of producing other goods and services. The other options: B) specialty products, C) supplies and services, D) materials and parts, and E) convenience products, all fall under the category of consumer products.

Question 17

Cadel's Bicycle Shop offers an extended warranty on the bicycles it sells,a free check-up after one month of use,and will assemble and deliver bicycles.In terms of the customer value hierarchy,the bicycle shop is offering a(n)________ product.
A)core
B)basic
C)service-added
D)expected
E)augmented

Accepted Answer

Cadel's Bicycle Shop is offering additional services beyond the basic product of a bicycle, such as the extended warranty, free check-up, and assembly/delivery. These extra services make the product more valuable to customers, putting it in the category of an augmented product.

Question 18

A manufacturer of jams,preserves and conserves offers products in re-usable jars shaped like a kitchen tumbler.This environmentally sensitive packaging is part of ________.
A)the core product
B)the actual product
C)the augmented product
D)All of the above.
E)None of the above.

Accepted Answer

The re-usable jars shaped like a kitchen tumbler is not a part of the core product which is the jam, preserves, and conserves themselves. It is also not the actual product which refers to the product attributes such as flavor, texture, and packaging design. Therefore, it is a part of the augmented product which includes additional features or benefits beyond the core and actual product, in this case, the environmentally sensitive packaging.

Question 19

A rocking chair constructed from recycled Australian timber,Jarrah,and handmade by a skilled artisan using traditional joinery methods is a(n)________.
A)convenience product
B)shopping product
C)specialty product
D)service
E)augmented product

Accepted Answer

This is a specialty product because it is handmade by a skilled artisan using traditional joinery methods and made from recycled Australian timber. It is not a convenience product because it is not easily accessible, nor is it a shopping product, which is a product that consumers carefully compare and select for quality, price, and features. It is not a service or augmented product because it is an actual physical product.

Question 20

The second level of a product is the ________,which refers to the tangible product itself,service features,design,quality level,brand name and packaging.
A)augmented product
B)actual product
C)core product value
D)customer experience
E)facilitating product

Accepted Answer

The actual product refers to the tangible product itself, service features, design, quality level, brand name and packaging.

Quiz 7: Customer-Driven Marketing Strategy: Creating Value for Target Customers

________ 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.

________ are products and services bought by final consumers for personal consumption.These include convenience products,shopping products,specialty products and unsought products.

You are planning to buy a new washing machine,and notice that they come in many price ranges.You want to make sure you get the most for your money.This product is a(n) ________ product.

To differentiate themselves,many companies go beyond offering products and services;they are also developing and delivering customer ________.

The third level of a product that product planners consider is a(n) ________ around the core benefit and actual product that offers additional consumer services and benefits.

________ are consumer products that the consumer either does not know about or knows about but does not normally think about buying.These products require a lot of advertising,personal selling and other marketing efforts.

________ 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.

Product is a key element in a company's ________,which may,at one extreme,consist of pure tangible goods or,at the other extreme,pure services.

Product planners consider products and services on three levels.The most basic level is the ________,which addresses the question,'What is the buyer really buying?'.

A ________ is defined as anything that can be offered to a market for attention,acquisition,use or consumption that might satisfy a want or need.

________ are less frequently purchased consumer products and services that customers compare carefully on suitability,quality,price and style.Consumers spend much time and effort in gathering information and making comparisons about these products.

When a restaurant provides gourmet menu options to its customers,as well as impeccable service which even allows customers to hand-select their own cuts of meat,________ is\are evident.

You have an upset stomach after overindulging last night.Your partner rushes to the corner convenience store for a bottle of Gavascon,an antacid tablet.This product is a(n) ________ product.

________ are those products purchased for further processing or for use in conducting a business.

Product planners must design the actual product and also find ways to ________ it in order to create the bundle of benefits that will create the most customer value.

Products and services fall into two broad classifications based on the types of consumers that use them.Which of the following is one of these broad classes?

Cadel's Bicycle Shop offers an extended warranty on the bicycles it sells,a free check-up after one month of use,and will assemble and deliver bicycles.In terms of the customer value hierarchy,the bicycle shop is offering a(n) ________ product.

A manufacturer of jams,preserves and conserves offers products in re-usable jars shaped like a kitchen tumbler.This environmentally sensitive packaging is part of ________.

A rocking chair constructed from recycled Australian timber,Jarrah,and handmade by a skilled artisan using traditional joinery methods is a(n) ________.

The second level of a product is the ________,which refers to the tangible product itself,service features,design,quality level,brand name and packaging.