Question 1

Brand familiarity means how well customers recognize and accept a company's brand.

Accepted Answer

Brand familiarity means how well customers recognize and accept a company's brand. The degree of brand familiarity affects the planning for the rest of the marketing mix.

Question 2

A product assortment is the set of all product lines and individual products that a firm sells.

Accepted Answer

A product assortment is the set of all product lines and individual products that a firm sells.

Question 3

A trademark can be a word, but cannot be a symbol.

Accepted Answer

Trademark is a legal term. A trademark includes only those words, symbols, or marks that are legally registered for use by a single company.

Question 4

The "Product" area is concerned with what goods and services are produced, but not with decisions about installation, instructions on use, packaging, a brand name, a warranty, or after-sale service.

Accepted Answer

Most customers think about a total product in terms of the total satisfaction it provides, which is a combination of excellent service, a physical good with the right features, useful instructions, a convenient package, a trustworthy warranty, and a recognizable brand name.

Question 5

Goods are intangible and services are tangible.

Accepted Answer

Because a good is a physical thing, it can be seen and touched. In contrast, services are not physical. Instead, they are intangible. When you provide a customer with a service, the customer can't keep it; he can only experience, use, or consume it.

Question 6

The definition of quality focuses on the producer.

Accepted Answer

Product quality should also be determined by how customers view the product. It means a product's ability to satisfy a customer's needs or requirements.

Question 7

A "Product" should be thought of as potential customer satisfaction or benefits.

Accepted Answer

Product means the need-satisfying offering of a firm. The idea of Product should be thought of as potential customer satisfaction or benefits.

Question 8

Branding is more likely to be successful if the product is the best value for the price, and quality can be consistently maintained.

Accepted Answer

Maintaining product quality and providing best value for the price are some of the factors that will make branding more successful.

Question 9

When comparing two similar products, the product with the most features is the higher quality product.

Accepted Answer

A product with more features or better features is not a higher-quality product if the features aren't what the target market wants.

Question 10

It is usually more difficult to provide consistent quality for goods as opposed to services.

Accepted Answer

Service quality often isn't that consistent; one reason is that it's hard to separate the service experience from the person who provides it.

Question 11

A product line is a set of individual products that are closely related.

Accepted Answer

A product line is a set of individual products that are closely related. They may be similar in terms of production or operation, target market, intermediaries, or price.

Question 12

A service is not a "Product" because services do not include any physical good.

Accepted Answer

A product may be a physical good, a service, or a blend of both.

Question 13

A service mark is the same as a trademark, except that it refers to a service offering.

Accepted Answer

A service mark is a trademark used for a service offering.

Question 14

Branding would be more likely to be successful if dependable and widespread availability of a product is possible.

Accepted Answer

Dependable and widespread availability makes branding more successful. When customers start using a brand, they want to be able to continue using it.

Question 15

A service logo refers to a type of trademark used for a service offering.

Accepted Answer

A service mark, not a service logo, is a trademark used for a service offering.

Question 16

A "Product" might involve a physical good, a service, or a combination of the two.

Accepted Answer

A product may be a physical good, a service, or a blend of both.

Question 17

Product means the need-satisfying offering of a firm.

Accepted Answer

Product means the need-satisfying offering of a firm. The idea of Product should be thought of as potential customer satisfaction or benefits.

Question 18

"Branding" includes the use of trademarks and brand names to identify a product.

Accepted Answer

Branding means the use of a name, term, symbol, or design or a combination of these to identify a product.

Question 19

An individual product is a particular product within a product line.

Accepted Answer

An individual product is a particular product within a product line. It usually is differentiated by brand, level of service offered, price, or some other characteristic.

Question 20

Goods are typically mass-produced in a factory far away from customers, while services are produced in their presence.

Accepted Answer

Goods are typically mass-produced in a factory far away from the customer. A service is usually produced in person-where the customer is located-after the customer has committed to buy. It is often difficult to achieve economies of scale with personal services. One reason is that service suppliers often need duplicate equipment and staff at places where the service is actually provided.

Quiz 8: Elements of Product Planning for Goods and Services

Brand familiarity means how well customers recognize and accept a company's brand.

A product assortment is the set of all product lines and individual products that a firm sells.

A trademark can be a word, but cannot be a symbol.

The "Product" area is concerned with what goods and services are produced, but not with decisions about installation, instructions on use, packaging, a brand name, a warranty, or after-sale service.

Goods are intangible and services are tangible.

The definition of quality focuses on the producer.

A "Product" should be thought of as potential customer satisfaction or benefits.

Branding is more likely to be successful if the product is the best value for the price, and quality can be consistently maintained.

When comparing two similar products, the product with the most features is the higher quality product.

It is usually more difficult to provide consistent quality for goods as opposed to services.

A product line is a set of individual products that are closely related.

A service is not a "Product" because services do not include any physical good.

A service mark is the same as a trademark, except that it refers to a service offering.

Branding would be more likely to be successful if dependable and widespread availability of a product is possible.

A service logo refers to a type of trademark used for a service offering.

A "Product" might involve a physical good, a service, or a combination of the two.

Product means the need-satisfying offering of a firm.

"Branding" includes the use of trademarks and brand names to identify a product.

An individual product is a particular product within a product line.

Goods are typically mass-produced in a factory far away from customers, while services are produced in their presence.