Podcast
Questions and Answers
Products can only be physical objects and not include services, solutions, or events.
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.
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.
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
Customer satisfaction and loyalty are not important for service firms
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Industrial products are only purchased for further processing and not for use in conducting a business.
Industrial products are only purchased for further processing and not for use in conducting a business.
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Service quality is not a key differentiator for service firms
Service quality is not a key differentiator for service firms
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Individual product decisions involve product attributes, branding, packaging, labeling, and product support services.
Individual product decisions involve product attributes, branding, packaging, labeling, and product support services.
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Product attribute decisions involve product quality, features, and style and design.
Product attribute decisions involve product quality, features, and style and design.
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Brands are not a valuable asset for companies
Brands are not a valuable asset for companies
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Brand equity does not contribute to competitive and financial advantages
Brand equity does not contribute to competitive and financial advantages
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Co-branding is not a strategy used to create new products or services
Co-branding is not a strategy used to create new products or services
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Differentiating service offerings, delivery, and image is not essential to combat price competition
Differentiating service offerings, delivery, and image is not essential to combat price competition
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Convenience products are high-priced items bought infrequently with minimal effort, like luxury cars and designer clothing.
Convenience products are high-priced items bought infrequently with minimal effort, like luxury cars and designer clothing.
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Industrial products are only purchased for immediate use and not for further processing or for conducting a business.
Industrial products are only purchased for immediate use and not for further processing or for conducting a business.
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Organization marketing involves activities to create, maintain, or change attitudes and behavior of target customers toward an organization.
Organization marketing involves activities to create, maintain, or change attitudes and behavior of target customers toward an organization.
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Social marketing uses traditional business marketing concepts and tools to encourage behaviors that create individual well-being only.
Social marketing uses traditional business marketing concepts and tools to encourage behaviors that create individual well-being only.
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Marketers make product and service decisions at two levels: individual product decisions and product line decisions.
Marketers make product and service decisions at two levels: individual product decisions and product line decisions.
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Product quality, features, style, and design are not essential aspects of developing and marketing products and services.
Product quality, features, style, and design are not essential aspects of developing and marketing products and services.
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Packaging traditionally only focused on holding and protecting the product.
Packaging traditionally only focused on holding and protecting the product.
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Colgate's product mix is divided into three major lines.
Colgate's product mix is divided into three major lines.
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Service businesses do not involve the co-creation of the service by the customer and the front-line service employee.
Service businesses do not involve the co-creation of the service by the customer and the front-line service employee.
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The service profit chain does not link service customer satisfaction and firm profits with employee satisfaction.
The service profit chain does not link service customer satisfaction and firm profits with employee satisfaction.
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The service profit chain includes internal service quality, satisfied and productive service employees, and greater service value.
The service profit chain includes internal service quality, satisfied and productive service employees, and greater service value.
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Successful service companies do not focus on both customers and employees to drive firm performance.
Successful service companies do not focus on both customers and employees to drive firm performance.
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Packaging provides protection, economy, convenience, and promotion for products.
Packaging provides protection, economy, convenience, and promotion for products.
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Companies develop product support services to enhance customer satisfaction and safeguard against competitors.
Companies develop product support services to enhance customer satisfaction and safeguard against competitors.
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The product mix includes all product lines and items offered by a seller, described by dimensions: width, length, depth, and consistency.
The product mix includes all product lines and items offered by a seller, described by dimensions: width, length, depth, and consistency.
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Brands are seen as major enduring assets, embodying everything a product or service means to consumers, with brand equity being a valuable asset.
Brands are seen as major enduring assets, embodying everything a product or service means to consumers, with brand equity being a valuable asset.
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Brand sponsorship options include national brands, store brands, licensed brands, and co-branded products.
Brand sponsorship options include national brands, store brands, licensed brands, and co-branded products.
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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.
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.
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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.
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Description
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.
