Question 1

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 2

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 3

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 4

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 5

"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 6

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 7

Brand preference means customers usually choose the brand over other brands, perhaps out of habit or past experience.

Accepted Answer

Brand preference means that target customers usually choose the brand over other brands, perhaps because of habit or favorable past experience.

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

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 11

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 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 "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 14

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 15

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 16

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 17

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 18

A trademark explains what the seller promises about its product.

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. A warranty explains what the seller promises about its product.

Question 19

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 20

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.

Quiz 8: Elements of Product Planning for Goods and Services

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

Product means the need-satisfying offering of a firm.

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

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

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

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

Brand preference means customers usually choose the brand over other brands, perhaps out of habit or past experience.

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.

Goods are intangible and services are tangible.

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.

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

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

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

The definition of quality focuses on the producer.

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

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

A trademark explains what the seller promises about its product.

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

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