Question 1

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

Accepted Answer

A)  Market diversification 
B)  Niche marketing 
C)  Co-branding 
D)  Licensing 
E)  Cannibalization 
A)  Market diversification 
B)  Niche marketing 
C)  Co-branding 
D)  Licensing 
E)  Cannibalization

Question 2

Which of the following is true with regard to store brands?

Accepted Answer

A)  Store brands have been declining in popularity and strength for more than two decades. 
B)  Store brands are also known as national brands. 
C)  Store brands are created and owned by resellers of a product or service. 
D)  Increasing consumer distrust toward store brands has led to a store-brand slump. 
E)  Store brands are growing far slower than manufacturer's brands. 
A)  Store brands have been declining in popularity and strength for more than two decades. 
B)  Store brands are also known as national brands. 
C)  Store brands are created and owned by resellers of a product or service. 
D)  Increasing consumer distrust toward store brands has led to a store-brand slump. 
E)  Store brands are growing far slower than manufacturer's brands.

Question 3

________ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought.

Accepted Answer

A)  Service inseparability 
B)  Service variability 
C)  Service intangibility 
D)  Service perishability 
E)  Service heterogeneity 
A)  Service inseparability 
B)  Service variability 
C)  Service intangibility 
D)  Service perishability 
E)  Service heterogeneity

Question 4

A product line consists of unrelated products that are sold to diverse customer groups.

Accepted Answer

A) True 
 B)False

Question 5

Good service recovery can turn angry customers into loyal ones.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is one of the four consumer perception dimensions used by ad agency Young & Rubicam to measure brand strength?

Accepted Answer

A)  brand conformance 
B)  brand consistency 
C)  brand convenience 
D)  brand extension 
E)  brand relevance 
A)  brand conformance 
B)  brand consistency 
C)  brand convenience 
D)  brand extension 
E)  brand relevance

Question 7

A ________ consists of all the product lines and items that a particular seller offers for sale.

Accepted Answer

A)  product mix 
B)  store brand 
C)  supply chain 
D)  value chain 
E)  line extension 
A)  product mix 
B)  store brand 
C)  supply chain 
D)  value chain 
E)  line extension

Question 8

Tristan and Juliet, a newly married couple who intend to go to Egypt for their honeymoon, bought a Europe travel package on Jizo Inc., an online travel site. As they have never seen Europe or used the services of Jizo before, they were largely dependent on other customers' feedback and signals for service quality. Which of the following characteristics of service is highlighted in this instance?

Accepted Answer

A)  service intangibility 
B)  service inseparability 
C)  service variability 
D)  service perishability 
E)  service distinction 
A)  service intangibility 
B)  service inseparability 
C)  service variability 
D)  service perishability 
E)  service distinction

Question 9

________ means that services cannot be stored for later sale or use.

Accepted Answer

A)  Service consistency 
B)  Service perishability 
C)  Service variability 
D)  Service intangibility 
E)  Service inseparability 
A)  Service consistency 
B)  Service perishability 
C)  Service variability 
D)  Service intangibility 
E)  Service inseparability

Question 10

Which of the following questions is most important for product designers to consider while developing a product?

Accepted Answer

A)  Which specific features of the product do customers like most? 
B)  How does the product appear to buyers? 
C)  What are the product's technical specifications? 
D)  How would customers use and benefit from the product? 
E)  How can the product be packaged to stimulate instant purchase? 
A)  Which specific features of the product do customers like most? 
B)  How does the product appear to buyers? 
C)  What are the product's technical specifications? 
D)  How would customers use and benefit from the product? 
E)  How can the product be packaged to stimulate instant purchase?

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

Which of the following is true with regard to store brands?

________ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought.

A product line consists of unrelated products that are sold to diverse customer groups.

Good service recovery can turn angry customers into loyal ones.

Which of the following is one of the four consumer perception dimensions used by ad agency Young & Rubicam to measure brand strength?

A ________ consists of all the product lines and items that a particular seller offers for sale.

________ means that services cannot be stored for later sale or use.

Which of the following questions is most important for product designers to consider while developing a product?

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

New-Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

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

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

Which of the following is true with regard to store brands?

________ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought.

A product line consists of unrelated products that are sold to diverse customer groups.

Good service recovery can turn angry customers into loyal ones.

Which of the following is one of the four consumer perception dimensions used by ad agency Young & Rubicam to measure brand strength?

A ________ consists of all the product lines and items that a particular seller offers for sale.

________ means that services cannot be stored for later sale or use.

Which of the following questions is most important for product designers to consider while developing a product?

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

New-Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters