Question 1

Christopher Messenger rents storage space to college students who go home for the summer but do not want to haul all of their property home and back.The business is profitable during the summer months,but when the storage space is unoccupied in the off- season,Christopher is losing money.What characteristic of service is most likely the source of Christopher's problem?

Accepted Answer

The characteristic of perishability is the most likely source of Christopher's problem. This is because storage space is not being used during the off-season, resulting in a loss of revenue. Since storage space cannot be stored and used in the future, this is an example of a perishable service.

Question 2

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.

Accepted Answer

Shopping products are defined as products or services that are considered more expensive and are purchased less frequently. Customers tend to compare these products carefully on suitability, quality, price, and style before making a purchase decision.

Question 3

The of the product mix refers to how closely related the various product lines are in end use,production requirements,distribution channels,or some other way.

Accepted Answer

The term that best describes how closely related the various product lines are is consistency. Therefore, choice E is the correct answer. Depth refers to the number of products within a product line, width refers to the number of different product lines, perimeter and length are not terms used in describing product mixes.

Question 4

Gina's Nail Salon is serious about pleasing its customers.Employees are trained to immediately and pleasantly respond to any customer complaints,and they are empowered to offer discounts and free add- ons to customers who believe they have received anything less than the best service.Gina's Nail Salon focuses on .

Accepted Answer

Gina's Nail Salon is focused on good service recovery by training employees to respond to complaints and offering discounts and free add-ons to customers who are not satisfied with the service. This shows that the business values customer satisfaction and is taking steps to ensure that any issues are resolved in a pleasant and timely manner.

Question 5

involves designing and producing the container or wrapper for a product.

Accepted Answer

Packaging involves designing and producing the container or wrapper for a product.

Question 6

A product is a key element in the .At one extreme,it may consist of pure tangible goods or at the other extreme,pure services.

Accepted Answer

The term "market offering" refers to the complete bundle of goods or services that a company presents to the market for consumption or use. It includes products or services, along with other elements such as price, promotion, and distribution. Therefore, a product is a key element in the market offering.

Question 7

A hickory rocking chair,handmade by an Amish woodcarver in Lancaster,Pennsylvania,from locally grown wood is an example of a(n).

Accepted Answer

The hickory rocking chair is a specialty product because it is a unique, high-priced item that requires special purchasing effort. It is not a convenience product because it is not readily available in most retail stores. It is also not a shopping product because consumers are unlikely to compare it with other similar products. Finally, the fact that it is handmade by an Amish woodcarver from locally grown wood is a product attribute, but not the defining characteristic of the product.

Question 8

Which of the following capital items is NOT considered accessory equipment?

Accepted Answer

Accessory equipment refers to smaller items that are considered necessary for the production process, but are not part of the main production equipment. Lift trucks, chairs, hand tools, and desks are all examples of accessory equipment. Buildings, on the other hand, are considered part of the fixed assets of a company and are not considered accessory equipment.

Question 9

Product mix refers to the number of different product lines the company carries.

Accepted Answer

Width refers to the number of different product lines a company carries.

Question 10

is used when two established brand names of different companies are used on the same product.

Accepted Answer

Co-branding refers to the practice of combining two well-known brand names to market a product or service. It helps both companies to leverage each other's strengths and market position to achieve mutual benefits.

Question 11

contributes to a product's usefulness as well as to its looks.

Accepted Answer

Design contributes to both the usefulness and aesthetics of a product, encompassing functionality, style, and conformance quality.

Question 12

At the very least,a product's identifies the product or brand.It might also describe several things about the product and promote the brand.

Accepted Answer

A label is specifically designed to identify a product or brand. It may also provide additional information about the characteristics of the product or promote the brand, but its primary purpose is identification. The other options (portfolio, line extension, copyright, and package) do not necessarily have the same primary function of identifying a product or brand.

Question 13

Refer to the scenario below to answer the following questions.
Herb Marks built his enterprise on the faithful patronage of four specialty shops and a large contract from Elmore Distributors.But after two years,the maker of novelty pens and pencils had to rethink his strategy when his contract with Elmore ended.
Herb built a company reputation on the manufacturing and distribution of a variety of wooden writing utensils with customized engravings.Specialty shops loved to display the products in their fancy,lighted showcases,but such specialty shops alone were not profitable.Herb Marks established a brand name,known merely as Marks,and decided to expand on it.
Herb extended his writing utensil lines to include quills,felt- tip pens,and multiple- cartridge pens that write in different colors.He even added a line of various grades of personalized stationery and business cards.Perhaps Herb's biggest added touch,however,was the addition of two salespeople who would work to explain the diverse array of products offered by Marks,as well as nurture existing accounts.
"We make an excellent product," Herb Marks stated,"and we honor a good guarantee on everything we sell.But let's face it-we face hundreds of competitors! We need Marks representatives out there to help prospects understand what they should demand in something as simple as a writing tool."
The Marks brand was fast- becoming synonymous with top- notch customer service.Part of the purchase package brought personal visits from the Marks representative,before the purchase and long after.
-The new felt- tip pens,multiple- cartridge pens,and quills are all examples of .

Accepted Answer

The new additions to the product line, such as felt-tip pens, multiple-cartridge pens, and quills, are examples of product line filling, which involves adding new products to an existing product line to satisfy customer needs and preferences.

Question 14

Product planners need to consider products and services on three levels.Each level adds more customer value.The most basic level is the ,which addresses the question,"What is the buyer really buying?"

Accepted Answer

The most basic level is the core customer value, which addresses the question "What is the buyer really buying?" This refers to the fundamental benefit or problem-solving service that the product or service provides for the customer.

Question 15

A sensational may grab attention and produce pleasing aesthetics,but it does not necessarily improve a product's performance.

Accepted Answer

Design refers to the aesthetic and functional aspects of a product, and while it can enhance appearance, it doesn't always enhance performance.

Question 16

Costco's Kirkland products are an example of a(n).

Accepted Answer

Kirkland products are known as private label or private brand products. These products are created by retailers and sold under their own brand names. Costco's Kirkland products are exclusive to the store and not sold by any other retailer.

Question 17

We define a as anything that can be offered to a market for attention,acquisition,use,or consumption and that might satisfy a want or need.

Accepted Answer

The definition given is that of a product, which is option E. The other options are not applicable to the definition given.

Question 18

Which of the following is the lowest level on which marketers can position their brands in target customers' minds?

Accepted Answer

Product attributes are the lowest level on which marketers can position their brands in target customers' minds, as they are the most tangible and functional aspects of a product or service, such as quality, performance, price, or design. Strong beliefs and values, interactive marketing, added service, and internal marketing are usually higher levels of brand positioning, which involve more emotional, social, experiential, or cultural dimensions that go beyond the functional attributes of a product or service.

Question 19

Product mix refers to the number of versions offered of each product in the line.Colgate toothpaste comes in 16 varieties,ranging from Colgate Total to Colgate Kids Toothpastes.

Accepted Answer

Product mix refers to the depth of the product line, which is the number of variants offered for each product in the line. Therefore, the best choice is depth (option E).

Question 20

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

Accepted Answer

Products and services are classified into two broad categories: consumer products and industrial products. Industrial products are those purchased for further processing or for use in conducting a business.

Quiz 8: Products, Services, and Brands: Building Customer Value