armstrong07_tif - Chapter 7 Product, Services, and Branding...

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Chapter 7 Product, Services, and Branding Strategy Multiple-Choice 1. A Sony DVD player, a Ford Taurus, a Costa Rican vacation, a Caffe Mocha at Starbucks, Fidelity online investment services, and advice from your family doctor-all these brand names are examples of _____. a. services b. products c. icons d. ideas Answer: (b) Difficulty: (1) Page: 223 2. A(n) _____ is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. a. product b. icon c. tangible good d. price Answer: (a) Difficulty: (2) Page: 223 3. _____ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. a. Ideas b. Services c. Offers d. Goods Answer: (b) Difficulty: (2) Page: 223 4. Banks, hotels, airlines, retail, tax preparation, and home repair are all examples of _____. a. products b. ideas c. offers d. services Answer: (d) Difficulty: (2) Page: 223 149
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5. Today, as products and services become more and more _____, many companies are moving to a new level in creating value for their customers. a. complex b. high-tech c. commoditized d. expensive Answer: (c) Difficulty: (2) Page: 223 6. To differentiate their offers, beyond simply making products and delivering services, companies are staging, marketing, and delivering memorable _____. a. commodities b. slogans c. prices d. customer experiences Answer: (d) Difficulty: (2) Page: 223 7. According to the text, Krispy Kreme doesn't just sell doughnuts, they sell magical moments; Disney has long manufactured memories through its movies and theme parks; and Starbucks patrons are paying for more than just coffee. In these examples, companies are marketing _____ realizing that customers are buying much more than just products and services. a. commodities b. social responsibility c. value d. none of the above Answer: (d) Difficulty: (3) Page: 226 8. Today, marketing companies think about products and services on three levels. The three levels which offer customer value include _____ a. basic benefit, augmented product and actual product b. basic benefit, core benefit and actual product c. core benefit, actual product and augmented product d. basic benefit, core benefit and augmented product Answer: (c) Difficulty": (2) Page: 226 9. Product planners think about products and services on three levels. Each level adds more customer value. The most basic level is the _____, which addresses the question, "What is the buyer really buying?" a. basic benefit b. actual product c. augmented product d. core benefit Answer: (d) Difficulty: (2) Page: 226 150
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10. Charles Revson, founder of Revlon Cosmetics, once remarked, "In the factory, we make cosmetics; in the store, we sell hope." He was referring to the _____ level of the product.
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armstrong07_tif - Chapter 7 Product, Services, and Branding...

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