Question 1

Which of the following BEST describes brand dilution?

Accepted Answer

Brand dilution happens when a company overuses a brand name, resulting in consumers failing to associate the brand with a specific product. This can happen when a company expands its product line too broadly or introduces too many line extensions under the same brand name. As a result, consumers may become confused about what the brand stands for or what products it offers, leading to a loss of brand value and market share.

Question 2

Maureen considers that she has difficult hair; it is thick, curly and is very difficult to manage unless she has a good style cut. Of all the stylists at her local salon, Maureen has found that Lauren gives her a superior cut. Whenever Maureen makes a salon appointment, she always requests Lauren. In the event that Lauren is unavailable, Maureen prefers to reschedule her appointment for a day when Lauren is available rather than settle for one of the other stylists. Maureen is trying to manage the service problem of:

Accepted Answer

Maureen is trying to manage the service problem of variability, which refers to the potential for the quality of services to vary greatly depending on who provides them and when they are provided. In this case, Maureen perceives that Lauren provides a superior service compared to the other stylists, indicating her concern with the variability in the quality of the haircuts she receives.

Question 3

The total number of items a company carries with its product lines is termed the product mix:

Accepted Answer

The total number of items a company carries within its product lines is referred to as the product mix length.

Question 4

A fundamental asset underlying brand equity is:

Accepted Answer

Customer equity is the total combined customer lifetime values of all the company's customers and is a fundamental asset underlying brand equity.

Question 5

Wood pulp, aluminium, glass tubing and mortar are all examples of:

Accepted Answer

The answer of Wood pulp, aluminium, glass tubing and mortar...

Question 6

A consumer product or service where the customer characteristically engages in a careful process of election by comparing on such attributes as suitability, quality, price and style is known as a(n):

Accepted Answer

A shopping good is a product or service that requires the customer to carefully compare options before making a decision based on factors such as suitability, quality, price, and style. Convenience goods are products that consumers regularly purchase without much thought, emergency goods are items needed in an urgent situation, specialty goods are unique or high-end products that consumers are willing to search for or pay more for, and sought goods are products that consumers actively seek out, such as luxury or niche items.

Question 7

Convenience goods can be classified into types, based on typical purchasing patterns. Which of the following is NOT one of the standard types of convenience good?

Accepted Answer

Shopping goods are not a type of convenience good, they are a different category of goods that are typically purchased after more deliberation and research. The other options are all standard types of convenience goods: emergency goods are those purchased in urgent situations, staples are frequently purchased items that are constantly needed (such as milk or bread), and impulse goods are items that are bought on a whim or without much prior planning.

Question 8

That services cannot be seen, tasted, felt, heard or smelled prior to purchase and consumption refers to which characteristic of services?

Accepted Answer

The answer of That services cannot be seen, tasted, felt,...

Question 9

The number of different product lines offered by a company is termed the product mix's:

Accepted Answer

The term used for the number of different product lines offered by a company is breadth. Depth refers to the number of products within each product line, length refers to the total number of products in the product mix, flexibility refers to the ease with which a company can add or delete products from the product mix, and consistency refers to how closely related the different product lines are in terms of their target market and production methods.

Question 10

Which of the following techniques can be used by service firms to enhance productivity?

Accepted Answer

All the options listed are strategies service firms can use to enhance productivity. Investing in recruitment and training can improve employee efficiency. "Industrialising the service" through equipment and standardisation, investing in technology to replace expensive labour, and adjusting the service quantity and quality balance are all valid methods to increase productivity.

Question 11

The fact that service quality depends on the buyer- seller interaction during the service encounter is often termed:

Accepted Answer

The term "interactive marketing" emphasizes the importance of the buyer-seller interaction during the service encounter. It recognizes that service quality is not just about the technical aspects of the service being delivered, but also about how the customer perceives the service delivery process.

Question 12

Many ski resorts are selling summer vacation packages promoting fishing, hiking, bush- walking, rock- climbing, wildflowers and other natural resources. This is an example of a strategy designed to address the problem of:

Accepted Answer

The strategy of selling summer vacation packages to promote activities such as fishing, hiking, and rock-climbing is designed to address the problem of perishability. Ski resorts have a limited time frame in which they can generate revenue from skiing, as it is a seasonal activity. By promoting summer activities, they can generate revenue during the off-season and prevent their resources from going to waste.

Question 13

Which of the following is NOT an alternative term for private labels?

Accepted Answer

Private label refers to the retailer's own brand, while manufacturer refers to the company that produces the product, which may or may not be a private label product. Generics and house brands are alternative terms for private labels.

Question 14

To celebrate the Barbie Doll's 50th birthday, Fiat motor vehicles joined with toy manufacturer, Mattel, to market the 500 Barbie, a pink coloured motor car. The 500 Barbie is only available in nail polish pink colour and features a free lipstick in the glove compartment. This is an example of which type of branding?

Accepted Answer

The 500 Barbie is an example of co-branding as it involves the collaboration between Fiat and Mattel to create a product that combines the strengths of both brands.

Question 15

Holden manufactures and markets many different makes and models of motor vehicles, including: Barina, Volt, Commodore, Cruze, Combo, Captiva, Sportswagon and Ute. Collectively, these makes and models are known as Holden's:

Accepted Answer

The different makes and models of motor vehicles manufactured and marketed by Holden collectively form a product line, which is a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, or are marketed through the same channels. Product fill refers to the number of product items within each product line, product variety refers to the number of different product lines that a company offers, product assortment refers to the complete range of products that a company offers, and product depth refers to the number of variants of each product in a product line.

Question 16

Wood, raw cotton, bauxite and industrial grade diamonds are all examples of:

Accepted Answer

These are all examples of raw materials, which are used to produce finished goods.

Question 17

That services are produced at the same time as they are consumed refers to which characteristic of services?

Accepted Answer

Inseparability refers to the fact that services are produced and consumed simultaneously, and cannot be separated from the provider who delivers them.

Question 18

Products that are purchased frequently with minimal comparison and little purchasing effort are known as:

Accepted Answer

Convenience goods refer to products that are purchased frequently with minimal comparison and little purchasing effort, such as toothpaste, chewing gum, or bread.

Question 19

The Electric company manufactures and sells washing machines. Convinced that consumers are really purchasing a cleaning system, Electric offers a complete line of accessories, special detergents and cleaning/dying solutions, a toll- free trouble hotline, and a comprehensive service plan. Electric is concentrating on the:

Accepted Answer

The augmented product is the additional features and services that surround the core product to provide additional value to the customer. In this case, Electric is offering a complete line of accessories, special detergents and cleaning/dying solutions, a toll-free trouble hotline, and a comprehensive service plan, all of which are part of the augmented product.

Question 20

One technique that service providers can use to address the problem of perishability is to:

Accepted Answer

By offering incentives to encourage customers to use the service during non-peak periods, service providers can balance demand and avoid wastage of perishable resources. For example, a restaurant can offer happy hours or discounts for early dinner reservations. This technique can help increase revenue and profitability while managing capacity and demand.

Quiz 10: Products and Services Marketing