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

Which of the following is an advantage offered by co-branding?

Briefly explain the concept of brand equity.

Refer to the scenario below to answer the following question(s). Ruben Delgado 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. Ruben 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. Ruben Delgado established a brand name, known merely as Delgado, and decided to expand on it. Ruben 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 Ruben's biggest added touch, however, was the addition of two salespeople who would work to explain the diverse array of products offered by Delgado, as well as nurture existing accounts. "We make an excellent product," Ruben Delgado stated, "and we honor a good guarantee on everything we sell. But let's face it-we face hundreds of competitors! We need Delgado representatives out there to help prospects understand what they should demand in something as simple as a writing tool." The Delgado brand was fast-becoming synonymous with top-notch customer service. Part of the purchase package brought personal visits from the Delgado representative, before the purchase and long after. -The new felt-tip pens, multiple-cartridge pens, and quills offered by Ruben Delgado are examples of ________.

Style is a larger concept than design. Design simply describes the appearance of a product.

After a brief stay at a luxury hotel in Paris, Benjamin Sanders noted that the hotel had kept every promise it made when he booked the room, meeting all his needs. He added that it was a "thoroughly comfortable and opulent experience." According to Young & Rubicam's Brand Asset Valuator, this reflects brand ________.

A label can identify, promote, and ________ the product.

The first step in designing support services is to ________.

Briefly describe the history of legal concerns about packaging and labels.

If a service employee provides the service, then the employee becomes a part of the service. This is an example of service ________.

The ________ requires sellers to provide detailed nutritional information on food products.

As competition and costs increase, and as productivity and quality decrease, what are the three major marketing tasks facing service companies in contemporary times?

The strongest brands are positioned on ________.

Industrial products and services include raw materials, buildings, fixed equipment, supplies, services, and ________.

Define interactive marketing. Why is it considered an important skill for service marketers?

Features are a competitive tool for differentiating a company's product from competitors' products. Which question are companies LEAST likely to ask in a survey of buyers regarding product features?

Which of the following is a potential drawback of multibranding?

Line extension refers to extending an existing brand name to new product categories.

The total financial value of a brand is brand value.

Products and services fall into two broad classes based on the types of consumers that use them. Name these two broad classes and describe how they are different from each other.

________ are industrial products that aid in the buyer's production or operations, including installations and accessory equipment.