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Chapter 8 Product, Services, and Branding Strategies: Building Customer Value
1) ________ 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) Line extensions
B) Services
C) Brands
D) Consumer products
E) Supplements
Answer: B
Diff: 1 Page Ref: 224
AACSB: Communication
Skill: Concept
Objective: 8-1
2) A product is a key element in the ________. At one extreme, it may consist of pure tangible goods or at the other extreme, pure services.
A) market offering
B) brand equity
C) brand extension
D) co-branding
E) value chain
Answer: A
Diff: 1 Page Ref: 224
AACSB: Communication
Skill: Concept
Objective: 8-1
3) To differentiate themselves, many companies are going beyond products and services, they are developing and delivering customer ________.
A) quality
B) experiences
C) brands
D) product lines
E) events
Answer: B
Diff: 2 Page Ref: 224
AACSB: Communication
Skill: Concept
Objective: 8-1
4) Product planners need to consider 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) actual product
B) augmented product
C) core customer value
D) co-branding
E) exchange
Answer: C
Diff: 2 Page Ref: 225
AACSB: Communication
Skill: Concept
Objective: 8-1
5) Products and services fall into two broad classifications based on the types of consumers that use them. Which is one of these broad classes?
A) industrial products
B) specialty products
C) supplies and services
D) materials and parts
E) convenience products
Answer: A
Diff: 2 Page Ref: 226
Skill: Concept
Objective: 8-1
6) ________ are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style. Consumers spend much time and effort in gathering information and making comparisons about the
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