30 Questions
Products can only be physical objects and not include services, solutions, or events.
False
Experiences are products with a strong sensory or emotional component that play out for the customer over time.
True
Consumer products are usually classified according to consumer shopping habits, such as convenience products, shopping products, specialty products, and unsought products.
True
Customer satisfaction and loyalty are not important for service firms
False
Industrial products are only purchased for further processing and not for use in conducting a business.
False
Service quality is not a key differentiator for service firms
False
Individual product decisions involve product attributes, branding, packaging, labeling, and product support services.
True
Product attribute decisions involve product quality, features, and style and design.
True
Brands are not a valuable asset for companies
False
Brand equity does not contribute to competitive and financial advantages
False
Co-branding is not a strategy used to create new products or services
False
Differentiating service offerings, delivery, and image is not essential to combat price competition
False
Convenience products are high-priced items bought infrequently with minimal effort, like luxury cars and designer clothing.
False
Industrial products are only purchased for immediate use and not for further processing or for conducting a business.
False
Organization marketing involves activities to create, maintain, or change attitudes and behavior of target customers toward an organization.
True
Social marketing uses traditional business marketing concepts and tools to encourage behaviors that create individual well-being only.
False
Marketers make product and service decisions at two levels: individual product decisions and product line decisions.
False
Product quality, features, style, and design are not essential aspects of developing and marketing products and services.
False
Packaging traditionally only focused on holding and protecting the product.
False
Colgate's product mix is divided into three major lines.
False
Service businesses do not involve the co-creation of the service by the customer and the front-line service employee.
False
The service profit chain does not link service customer satisfaction and firm profits with employee satisfaction.
False
The service profit chain includes internal service quality, satisfied and productive service employees, and greater service value.
True
Successful service companies do not focus on both customers and employees to drive firm performance.
False
Packaging provides protection, economy, convenience, and promotion for products.
True
Companies develop product support services to enhance customer satisfaction and safeguard against competitors.
True
The product mix includes all product lines and items offered by a seller, described by dimensions: width, length, depth, and consistency.
False
Brands are seen as major enduring assets, embodying everything a product or service means to consumers, with brand equity being a valuable asset.
True
Brand sponsorship options include national brands, store brands, licensed brands, and co-branded products.
True
Products and services are key elements in the market offering, with marketing mix planning beginning with building an offering that brings value to target customers.
True
Study Notes
Product and Service Marketing Overview
- Packaging provides protection, economy, convenience, and promotion for products.
- Companies develop product support services to enhance customer satisfaction and safeguard against competitors.
- Most companies produce a product line, which is a group of related products.
- The product mix includes all product lines and items offered by a seller, described by dimensions: width, length, depth, and consistency.
- Services are characterized by being intangible, inseparable, variable, and perishable, posing problems and marketing requirements.
- Good service companies focus on both customers and employees, understanding the service profit chain.
- Brands are seen as major enduring assets, embodying everything a product or service means to consumers, with brand equity being a valuable asset.
- Companies make decisions about brand positioning, name selection, sponsorship, and development to build brands.
- Brand sponsorship options include national brands, store brands, licensed brands, and co-branded products.
- Brand development options include line extensions, brand extensions, multibrands, and new brands.
- Companies must continuously communicate a brand's positioning to consumers and manage customer experiences.
- Products and services are key elements in the market offering, with marketing mix planning beginning with building an offering that brings value to target customers.
Test your knowledge of product and service marketing with this overview quiz. Explore topics such as packaging, product support services, product lines, service characteristics, brand equity, and brand development options. Perfect for marketing professionals and students looking to enhance their understanding of marketing strategies and concepts.
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