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

Consumer products refer to ________.

The fundamental asset underlying brand equity is ________, the value of customer relationships that the brand creates.

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

________ marketing consists of activities undertaken to create, maintain, or change the attitudes and behaviors of target consumers toward an organization.

A ________ is a name, term, sign, symbol, design, or a combination of these, that identifies the maker or seller of a product or service.

Which of the following is an example of a convenience product?

Name some common convenience products.

A well-known cosmetic company in New York City added new product lines in order to increase its business. In other words, it ________.

How can service providers use a differentiated offer, delivery, and image to avoid competing solely on price?

While advertising campaigns can help create name recognition, brand knowledge, and perhaps even some brand preference, brands are not maintained by advertising but by ________.

________ are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.

Co-branding occurs when retailers and wholesalers create their own store brands.

________ marketing involves activities undertaken to create, maintain, or change attitudes toward particular cities, states, or regions.

________ is an approach in which all the company's people are involved in constantly improving the quality of products, services, and business processes.

Labels range from simple tags attached to products to complex graphics that are part of the packaging.

Which of the following strategies involves weeding out weaker brands and focusing marketing dollars only on brands that can achieve the number one or number two market share positions with good growth prospects in their categories?

Erica wants to replace her old washing machine with a new one. In order to get the maximum value for her money, she plans to spend substantial time and effort in gathering information and making product comparisons before making the actual purchase. In this instance, Erica is planning to buy a(n) ________ product.

Product quality is harder to define and judge than service quality.

At a hotel renowned for its superior service, one registration-desk employee may be cheerful and efficient, whereas another may be irritable and slow. This exemplifies service consistency.

Brand ________ refers to how highly consumers regard and respect the brand.