Marketing Chapter 8(ii)

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Questions and Answers

Which of these options are considered to be important to service firms in managing service quality?

Differentiation through higher quality (correct)

Employee hiring and training

Meeting customers' expectations

Consistently delivering higher quality than competitors (correct)

How can social media be used to manage service quality?

Tracking competitor activity

Identifying and addressing customer dissatisfaction (correct)

Building brand awareness

Promoting new products and services

Which of these is a key aspect of managing service productivity?

Developing new service offerings

Controlling the cost of service delivery (correct)

Increasing customer satisfaction scores

Improving employee motivation

What does the concept of 'brand equity' refer to?

The impact of brand recognition on customer response (D) Signup and view all the answers

What are the three levels at which brands can be positioned?

Product features, customer benefits, brand values (A) Signup and view all the answers

What is the primary role of 'social care' specialists in companies like Southwest Airlines?

Engaging with customers on social media (C) Signup and view all the answers

Which aspect of branding strategy is illustrated by the example of Disney forming strong emotional connections with customers?

Brand positioning (C) Signup and view all the answers

What is a key benefit of managing service productivity for service firms?

Reduced operating costs (D) Signup and view all the answers

Which classification describes products that consumers buy frequently with minimal effort?

Convenience products (C) Signup and view all the answers

What type of consumer products requires significant purchase effort due to unique characteristics?

Specialty products (C) Signup and view all the answers

Which of the following is classified as an unsought product?

Life insurance (A) Signup and view all the answers

What are industrial products primarily used for?

Further processing or business operation (D) Signup and view all the answers

Which of the following products would best fit the category of shopping products?

Television (A) Signup and view all the answers

What characteristics do materials and parts in the industrial product category possess?

They are meant for further processing (D) Signup and view all the answers

Which type of product is characterized by items that consumers know about but do not typically purchase?

Unsought products (D) Signup and view all the answers

Which of the following best describes capital items in the context of industrial products?

Products that aid production or operation (B) Signup and view all the answers

What is meant by product line length?

The number of items in the product line (C) Signup and view all the answers

Which of the following best describes product line stretching?

Adding products to an existing product line at different price points (B) Signup and view all the answers

What is a characteristic that distinguishes a product mix?

The scope of all product lines and items a seller offers (A) Signup and view all the answers

What aspect is NOT typically associated with product support services?

Brand logo redesign (A) Signup and view all the answers

Which of the following factors is NOT characteristic of service marketing?

Tangible assets (A) Signup and view all the answers

How is the product mix width defined?

The variety of product lines a seller has (B) Signup and view all the answers

Which service industry is characterized by serving the public through various programs?

Government (C) Signup and view all the answers

What is a primary reason companies redesign their brand logos?

To keep up with evolving digital times (D) Signup and view all the answers

What is defined as anything that can be offered in a market to satisfy a need or want?

Product (A) Signup and view all the answers

Which characteristic distinguishes services from products?

Intangibility (C) Signup and view all the answers

What is a key element of FiLLi Café's marketing strategy?

Creating a 'Tea n’ Talk' experience (A) Signup and view all the answers

Which of the following is NOT considered a form of product?

Advertising (B) Signup and view all the answers

What do companies need to consider when marketing services?

Customer experience and perceptions (B) Signup and view all the answers

What is the term for activities or benefits provided that are intangible?

Services (C) Signup and view all the answers

Which of the following best describes how products and services are evolving in the market?

They are becoming more commoditized. (A) Signup and view all the answers

What is a core aspect of branding strategy?

Managing customer experiences (D) Signup and view all the answers

What does the service-profit chain primarily connect?

Employee satisfaction and service firm profits (B) Signup and view all the answers

What is the main focus of internal marketing in service firms?

Orienting and motivating customer-contact employees (B) Signup and view all the answers

Which element is NOT part of the service-profit chain?

Service productivity (B) Signup and view all the answers

What type of marketing heavily relies on the quality of buyer-seller interactions?

Interactive marketing (A) Signup and view all the answers

How does managing service differentiation benefit a firm?

By creating a competitive advantage (D) Signup and view all the answers

Which example illustrates the concept of using tangibles to enhance service experience?

Oberoi Hotels integrating tangible elements throughout the customer journey (D) Signup and view all the answers

What is a key outcome of satisfied and productive service employees?

Higher service value (C) Signup and view all the answers

What does the image of the mascot Modhesh relate to in the context of service differentiation?

Attracting tourists during the summer shopping season (A) Signup and view all the answers

What does organization marketing primarily focus on?

Changing attitudes and behaviors toward an organization (B) Signup and view all the answers

Which type of marketing is focused on influencing consumer behavior toward specific individuals?

Person marketing (C) Signup and view all the answers

What is the main objective of place marketing?

To change attitudes toward specific locations (D) Signup and view all the answers

How does social marketing differ from other types of marketing?

It aims to improve societal well-being. (A) Signup and view all the answers

What initiative did Master Group Pakistan undertake to help the homeless?

Creating ‘billbeds’ that double as advertising and bedding (C) Signup and view all the answers

Which of the following is NOT a primary focus of individual product decisions?

Price setting (C) Signup and view all the answers

What is a common goal of both organization and person marketing?

To change consumer attitudes (C) Signup and view all the answers

What aspect is crucial for delivering benefits of a product or service?

Product and service attributes (B) Signup and view all the answers

Study Notes

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

Product is anything offered in a market for attention, acquisition, use, or consumption. It satisfies a need or want.
Services are a form of product consisting of activities, benefits, or satisfactions. They are essentially intangible and do not result in ownership.
Products and services are becoming more commoditized. Companies focus on creating customer experiences.
Customer Experiences are actively created and managed by brands to enhance the customer's interaction.
Products have three levels:
- Core Customer Value: the basic benefit the customer is buying
- Actual Product: Brand name, features, design, quality, packaging, warranty
- Augmented Products: delivery and credit, after-sale service
Product Classifications
- Consumer Products: Bought for personal use.
  - Convenience Products: Frequently purchased, little planning. (e.g., toothpaste, candy)
  - Shopping Products: Less frequent purchases, careful comparison. (e.g., furniture, cars)
  - Specialty Products: Unique characteristics, strong brand preference. (e.g., designer clothes, high-end electronics)
  - Unsought Products: Little product awareness or knowledge. (e.g., life insurance, blood donations)
- Industrial Products: Purchased for use in another product or conducting business.
  - Materials and Parts: Raw materials, manufactured parts.
  - Capital Items: Aid in buyer's production or operations.
  - Supplies and Services: Operating supplies, repair, maintenance items, business services.
Product and Service Classifications other than consumer and industrial include:
- Organizations: Organization marketing aims to change attitudes and behaviors towards an organization.
- Persons: Personal marketing aims to change attitudes or behaviors towards people.
- Places: Place marketing aims to change attitudes or behaviors towards places.
- Ideas: Social marketing uses commercial strategies to promote ideas.
Individual Product Decisions include quality, features, style, design, branding, packaging, labeling, logos, and product support services.
Product Quality
- Conformance quality meets explicit and implicit customer expectations.
- Conformance quality ensures consistency of quality.
- Total quality management processes to ensure quality.
Product Features differentiate products from competitors and is assessed by the value it provides to the customer, as compared to its cost to the company.
Style is product appearance. Design contributes functionality and looks.
Brand is a name, term, sign, or design that identifies a maker or seller of a product or service.
Packaging involves designing and producing containers or wrappings. It supports identification of the product, brand, and attributes for promotion.
Labels identify products or brands and provide attributes and promotional information.
Product Support Services augment actual products. (e.g., warranties, repairs). This includes Brand logo makeovers which ensure logos keep pace with digital times.
Product Line Decisions
- Product line is a group of closely related products that share similar functions, target customers, or price ranges.
- Product line length determines the number of items in the line.
- Product line length can involve Line stretching and Line filling.
Product Mix Decisions
- Product mix is all product lines and items offered for sale by the company.
- A product mix includes Width, Length, Depth, and Consistency
Services Marketing:
- Characterized by intangibility, inseparability, variability, and perishability.
- Firms often employ additional strategies for marketing, including:
  - Service-profit chain, which links service firm profits with employee and customer satisfaction.
- Internal marketing, orienting and motivating customer-contact employees to provide customer satisfaction.
- Interactive marketing, focusing on buyer/seller interactions for better customer service quality and differentiation.
- Managing service differentiation creates competitive advantage in service quality and service productivity.

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Description

Explore the essentials of products, services, and brands in this quiz from Chapter 8. Understand the different levels of product offerings, classifications, and the importance of customer experiences in creating value. Test your knowledge on how companies can enhance customer interactions and satisfaction.