Exam 7: Products, Services, and Brands: Building Customer Value

Brands vary in the amount of power and value they hold in the marketplace. Iconic brands like Apple, Google, and Harley-Davidson have achieved substantial brand ________.

A product line is most likely too long if managers can ________.

Susan has been redecorating her new condo for a year. She is carefully selecting every item. Susan finds an oriental rug that matches her color scheme and décor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of a(n)________.

When consumers react more favorably to a brand than to a generic or unbranded version of the same product, the brand is said to have positive brand equity.

Howard Schultz, the founder of Starbucks, positioned his bistros as "a third place" between work and home where patrons could share and enjoy a cup of coffee with friends. This illustrates ________.

Describe the various categories of industrial products with examples.

A brand extension gives a new product instant recognition and faster acceptance.

________ occurs when a company uses its existing brand name for new forms, colors, sizes, ingredients, or flavors of an existing product category.

BerryBerry is a fruit juice company that has traditionally sold three varieties of mixed-fruit juices: DazzleBerry, AquaBerry, and GloBerry. The company wants to add more products to its product line. Which of the following is an example of brand extension for BerryBerry?

Unsought products are consumer products that the consumer either does not know about or knows about but does not normally consider buying.

Which of the following is most likely a true statement about services?

Orienting and motivating customer-contact employees to work as a team to provide customer satisfaction is known as social marketing.

Which of the following is an industrial product categorized under supplies and services?

Cement is an example of an industrial product that is categorized under ________.

Zappos recognizes the importance of the buyer-seller interaction. They only hire people with an innate "passion to serve" and they go through four weeks of customer loyalty training. This is referred to as ________ marketing.

What role does packaging play in the marketing of a product? How can packaging lead to an increase or decrease of sales? Provide examples to illustrate your response.

Which of the following is an example of an industrial product grouped under capital items?

Which of the following is a pure tangible good?

Service variability means that the quality of services does not depend on who provides them.

Consumer products that the buyer either does not know about or knows about but does not normally consider buying are referred to as ________ products.