Deck 6: Products: Goods and Services

Question 1

All marketing managers have the same goal: to understand and please their customers.

Answer 1

True

Question 2

Some marketers think there is a big difference between marketing for goods and services, and other marketers
think that it's the same whether you're marketing sandwiches or hotels.

Answer 2

True

Question 3

The execution of the 4Ps is flexible-only one piece needs to be in place and sending a consistent message for the
overall product to be attractive to the customer.

Answer 3

False

Question 4

The word product can only be defined as a general term that includes services and goods.

Question 5

Marketing is an exchange: the company offers something (e.g., a flight), and the customer offers something in return (e.g., a payment).

Question 6

Search qualities are the attributes that are evaluated before purchase, while the customer learns about competitive offerings.

Question 7

Credence qualities are those that are difficult to judge, even post-consumption.

Question 8

An example of "experience marketing" is a professional sporting event.

Question 9

Some customers will seek value and low prices, while others seek top quality.

Question 10

Experience attributes are those that require some trial or consumption before evaluation.

Question 11

Ideally, a company will have a clear differentiation strategy, because commodity products cannot be sustained as a competitive advantage.

Question 12

The word product can be defined as a mathematical term for multiplication.

Question 13

An example of a credence quality is when you buy a new cologne. Did it really impress that girl? You have to just trust that it did, as it is difficult to judge.

Question 14

When drivers purchase cars that are highly rated for their safety, the essential product is safety and the modifier is the actual car.

Question 15

A "product" is the general term used to describe both goods and services.

Question 16

Experience attributes are those that are difficult to judge even post-consumption.

Question 17

Goods and services are totally distinct from each other.

Question 18

Marketers have long realized the benefits of morphing long-term purchase-transaction exchanges into short-term relationship marketing.

Question 19

We learn of and discuss product, price, place, and promotion separately because there are many details to consider for each element.

Question 20

Goods are dominated by credence and experience qualities, and services are mostly comprised of experience and search qualities.

Question 21

Company A offers a line of products to a single segment. Company B offers multiple products to multiple segments. Company B will most likely outperform company A.

Question 22

Good variability involves the customization and tailoring of the service delivery for the customer's unique needs.

Question 23

It's important that brand managers focus on defining competition narrowly, as when we compute market shares.

Question 24

The interaction between the crowd and the actors during a Broadway show is due to the inseparability between service provider and customer.

Question 25

As Chief Marketing Officer (CMO), Frank has seen the core competencies of his company change over the past five years. During this time the core business of the company should not have shifted as the firm's competencies changed.

Question 26

The inseparability of service production and consumption inevitably results in less perishable services.

Question 27

The service marketing exchange happens between a customer and a service provider representing the company.

Question 28

Product lines can be trimmed or supplemented depending on market opportunities, however the overall marketing mix should not be altered as this will confuse loyal customers.

Question 29

The central element of what is purchased is called the "core," and anything bought on top of that is called the "value­addeds."

Question 30

The definition of a company's core business is like asking for its mission statement.

Question 31

Supervising product line managers' responsibilities are to focus, and brand manager's responsibilities are to
oversee entire portfolios.

Question 32

In a service-oriented business such as a bowling alley, services are simultaneously produced and consumed.

Question 33

A brand is an investment.

Question 34

Product­related issues are more complicated when our scope includes the company's full portfolio.

Question 35

For sports, the core service is the game itself, and the value-addeds are the experience the consumer has.

Question 36

Companies can be myopic when they define their core business, focusing on their
product offerings instead of recognizing that their true goal is offering benefits and value to their customers.

Question 37

A hotel's core elements are fluffy bed, easy check­in, and Wi­fi.

Question 38

Professional services, purchase experiences, and online shopping are some purchases that might be further along the intangibility dimensions than goods or services.

Question 39

If a company recognizes an opportunity for producing something that customers will value, they should supplement their product line, especially if they can make the new products better than competitors.

Question 40

Services are said to be less variable than products.

Question 41

Which of the following is an example of "experience marketing"?

A) Starbucks
B) Cirque du Soleil
C) financial services
D) clothing

Question 42

Which of the following are pure goods?

A) rock concerts
B) DVDs
C) sporting events
D) consulting

Question 43

Which of the following is a question that arises during the marketing exchange?

A) What is it that customers want?
B) Should the product be made in house or outsourced?
C) When should we sell our stock?
D) Should we acquire our competitor?

Question 44

Marketers have long realized the benefits of morphing purchase-transaction exchanges into long-term relationship marketing.

A) short-term
B) high quality
C) customer
D) product

Question 45

qualities are those that are difficult to judge, even post-consumption.

A) Product
B) Search
C) Experience
D) Credence

Question 46

are dominated by search and experience qualities.

A) Goods
B) Services
C) Purchases
D) Products

Question 47

A is the general term used to describe both goods and services.

A) price
B) product
C) promotion
D) place

Question 48

An example of a complex good is a car and an example of a simple service is .

A) architect
B) accountant
C) hotel
D) doctor

Question 49

are mostly comprised of experience and credence qualities.

A) Products
B) Services
C) Purchases
D) Goods

Question 50

For someone buying a Volvo, the essential product is , and the modifier is .

A) a car; safety
B) transportation; a car
C) a car; a innovative design
D) a high-end vehicle; transportation

Question 51

Orbitz offers low-price tickets on flights because .

A) they are in competition with airlines
B) it is something that benefits customers
C) they accept a low margin
D) their business model is based on promotions

Question 52

Marianne is shopping for a new car. Which of the 4Ps is most central to her purchase?

A) price
B) promotion
C) place
D) product

Question 53

Doctor's services consist mainly of elements.

A) product
B) search
C) experience
D) credence

Question 54

Marketer 1 is marketing soft pretzels. Marketer 2 is marketing for a local amusement park. Why might their strategies differ?

A) They don't, their strategies would be the same.
B) Marketer 1 has a tangible product, white marketer 2 has an intangible product.
C) Marketer 1 would focus more on price than marketer 2.
D) Marketer 2 would focus more on promotion than marketer 1.

Question 55

The color of a pair of socks is an example of a quality.

A) credence
B) experience
C) search
D) product

Question 56

Services are more than goods.

A) produced and consumed simultaneously
B) perishable
C) inventoried
D) inelastic

Question 57

qualities are those attributes that may be evaluated prior to purchase, as the customer learns about the competitive offerings.

A) Credence
B) Experience
C) Search
D) Product

Question 58

Services are simultaneously produced and consumed. This is different from goods because goods can be .

A) produced and consumed simultaneously
B) perishable
C) inventoried
D) inelastic

Question 59

attributes are those that require some trial or consumption before evaluation.

A) Search
B) Product
C) Credence
D) Experience

Question 60

An example of a tangible purchase is .

A) consulting advice
B) the symphony
C) financial services
D) clothing

Question 61

For an NFL team, what is their core service?

A) a way for people to spend time with their family
B) the TV coverage of the games
C) the experience
D) the ball game

Question 62

What is the definition of a company's core business similar to?

A) goal statement
B) code of conduct
C) the industry
D) mission statement

Question 63

When can core businesses change?

A) when customers demand it
B) when a firm updates their software
C) when a firm's competencies change
D) when a firm outsources

Question 64

Self-service is advancing in many industries wherein a interacts with .

A) customer; a customer service rep
B) service provider; the manufacturer
C) customer; technology
D) manufacturer; technology

Question 65

As Chris arrives at the airport, he decides that instead of waiting in line to check-in he will use the automated check-in kiosk. He types in the information requested by the kiosk and his boarding pass is printed within seconds. What does this exemplify the growing trend of?

A) customer service.
B) self-service.
C) customer intimacy.
D) operational excellence.

Question 66

What does good variability consists of?

A) Errors in the system, logistics, human resources and marketers want to reduce this variability.
B) The customization and tailoring of the service delivery for the customer's unique needs.
C) A service provider representing the company.
D) Advancing in many industries wherein a customer interacts with technology, banking, airport check-in, etc.

Question 67

Bad variability involves .

A) weather patterns
B) errors in the system
C) technology
D) manufacturing tolerances

Question 68

Alpha company makes items you typically see in a drug store. If they make toothpaste, which of the following would be expansion in the depth direction?

A) beauty
B) floss
C) shampoo
D) tanning spray

Question 69

Many hoteliers no longer claim that they merely offer lodging. Instead, they now stake claims as premier travel providers. This is done to avoid the mistake of defining their core business .

A) too confusingly
B) too abstractly
C) too strategically
D) too technically

Question 70

It is helpful to think of goods and services as .

A) existing along a continuum
B) similar
C) different
D) comprised of both logistics and tangible items

Question 71

The most successful example of self-service is .

A) airport check-in
B) banking
C) the Internet
D) online shopping

Question 72

What mistake can companies make when they define their core business?

A) being myopic
B) seeing the big picture
C) being too strategic
D) being too technical

Question 73

What has consequences in the interaction between the service provider and the customer?

A) The inseparability of production and consumption
B) The perishability of the item
C) The age of the customer
D) The elasticity of demand

Question 74

With self-service, the of the service encounter is reduced by the standardization of the equipment.

A) purchaser
B) provider
C) desirability
D) variability

Question 75

The central element of what is purchased is called the "core," and anything bought on top of that is called what?

A) promotions
B) goods
C) value addeds
D) extras

Question 76

Services are said to be more than goods.

A) durable
B) tangible
C) inseparable
D) variable

Question 77

The inseparability of production and consumption also impacts the interaction between the and the .

A) service provider; customer
B) service provider; manufacturer
C) variability; customer
D) variability; manufacturer

Question 78

How can product lines vary?

A) breadth and width
B) time
C) space
D) width and time

Question 79

Beta company makes items you typically see in a sports store. If they sell golf balls, which of the following would be expansion in the breadth direction?

A) first aid
B) golf clubs
C) soccer balls
D) fishing gear

Question 80

A is comprised of several product lines that can vary in breadth and depth.

A) product mix
B) marketing mix
C) company
D) service