Deck 6: Products Goods and Services

Question 1

Goods are dominated by credence and experience qualities, and services are mostly comprised of experience and search qualities.

Answer 1

False

Question 2

Credence qualities are those that are difficult to judge, even post-consumption.

Answer 2

True

Question 3

We learn of and discuss product, price, place, and promotion separately because there are many details to consider for each element.

Answer 3

True

Question 4

Experience attributes are those that are difficult to judge even post-consumption.

Question 5

Some marketers think there is a big difference between marketing for goods and services, and other marketers think that it's the same whether you're marketing sandwiches or hotels.

Question 6

When drivers purchase cars that are highly rated for their safety, the essential product is safety and the modifier is the actual car.

Question 7

Hoping that your new suit impressed everyone is an example of a credence quality.

Question 8

The word product can be defined as a mathematical term for multiplication.

Question 9

Marketing is an exchange: the company offers something (e.g., a flight), and the customer offers something in return (e.g., a payment).

Question 10

An example of "experience marketing" is a professional sporting event.

Question 11

Experience attributes are those that require some trial or consumption before evaluation.

Question 12

Goods and services are totally distinct from each other.

Question 13

A "product" is the general term used to describe both goods and services.

Question 14

Search qualities are the attributes that are evaluated before purchase, while the customer learns about competitive offerings.

Question 15

Some customers will seek value and low prices, while others seek top quality.

Question 16

Marketers have long realized the benefits of morphing long-term purchase-transaction exchanges into short-term relationship marketing.

Question 17

The word "product" can only be defined as a general term that includes services and goods.

Question 18

All marketing managers have the same goal: to understand and please their customers.

Question 19

Ideally, a company will have a clear differentiation strategy, because commodity products cannot be sustained as a competitive advantage.

Question 20

The execution of the 4Ps is flexible-only one piece needs to be in place and sending a consistent message for the overall "product" to be attractive to the customer.

Question 21

It's important that brand managers focus on defining competition narrowly, as when we compute market shares.

Question 22

The definition of a company's core business is like asking for its mission statement.

Question 23

Company A offers a line of products to a single segment.Company B offers multiple products to multiple segments.Company B will most likely outperform company A.

Question 24

Supervising product line manager's responsibilities are to focus, and brand managers' responsibilities are to oversee entire portfolios.

Question 25

Product lines can be pruned or supplemented depending on market opportunities; however, the overall marketing mix should not be altered as this will confuse loyal customers.

Question 26

For sports, the core service is the game itself, and the value-addeds are the experience the consumer has.

Question 27

Many purchases have elements of both goods and services.

Question 28

The central element of what is purchased is called the "core," and anything bought on top of that is called the "value-addeds."

Question 29

If a company recognizes an opportunity for producing something that customers will value, it should supplement its product line, especially if it can make the new products better than competitors.

Question 30

As chief marketing officer (CMO), Frank has seen the core competencies of his company change over the past five years.During this time, the core business of the company should not have shifted as the firm's competencies changed.

Question 31

Product-related issues are more complicated when our scope includes the company's full portfolio.

Question 32

Good variability involves the customization and tailoring of the service delivery for the customer's unique needs.

Question 33

A marketer can affect a customer's level of satisfaction (or dissatisfaction) through good (or bad) value-addeds.

Question 34

In a service-oriented business such as a bowling alley, services are simultaneously produced and consumed.

Question 35

The inseparability of service production and consumption inevitably results in less perishable services.

Question 36

The service marketing exchange happens between a customer and a service provider representing the company.

Question 37

A brand is an investment.

Question 38

The interaction between the crowd and the actors during a Broadway show is due to the inseparability between service provider and customer.

Question 39

Companies can be myopic when they define their core business, focusing on their product offerings instead of recognizing that their true goal is offering benefits and value to their customers.

Question 40

Services are said to be less variable than products.

Question 41

Marketers have long realized the benefits of morphing __________ purchase-transaction exchanges into long-term relationship marketing.

A) short-term
B) high-quality
C) customer
D) product

Question 42

The color of a pair of socks is an example of a(n) __________ quality.

A) credence
B) experience
C) search
D) product

Question 43

A __________ is the general term used to describe both goods and services.

A) price
B) product
C) promotion
D) place

Question 44

For someone buying a Volvo, the essential product is __________, and the modifier is __________.

A) a car, safety
B) transportation, a car
C) a car, an innovative design
D) a high-end vehicle, transportation

Question 45

Orbitz, a travel-planning company, offers low-price tickets on flights because

A) it is in competition with airlines.
B) this is something that benefits customers.
C) it accepts a low margin.
D) its business model is based on promotions.

Question 46

Marianne is shopping for a new car.Which of the 4Ps is most central to her purchase?

A) price
B) promotion
C) place
D) product

Question 47

Services can be

A) produced and consumed simultaneously.
B) easier to price than goods.
C) inventoried.
D) manufactured.

Question 48

__________ are dominated by search and experience qualities.

A) Goods
B) Services
C) Purchases
D) Products

Question 49

A doctor's professional services are dominated by __________ elements.

A) product
B) search
C) experience
D) credence

Question 50

__________ are mostly comprised of experience and credence qualities.

A) Products
B) Services
C) Purchases
D) Goods

Question 51

An example of a complex good is a car, and an example of a simple service is a(n)

A) sock.
B) accountant.
C) hotel.
D) laptop.

Question 52

__________ qualities are those that are difficult to judge even post-consumption.

A) Product
B) Search
C) Experience
D) Credence

Question 53

__________ qualities are those attributes that may be evaluated prior to purchase, as the customer learns about the competitive offerings.

A) Credence
B) Experience
C) Search
D) Product

Question 54

Marketer 1 is marketing soft pretzels.Marketer 2 is marketing for a local amusement park.Why might their strategies differ?

A) They don't, their strategies would be the same.
B) Marketer 1 has a tangible product, white marketer 2 has an intangible product.
C) Marketer 1 would focus more on price than marketer 2.
D) Marketer 2 would focus more on promotion than marketer 1.

Question 55

__________ attributes are those that require some trial or consumption before evaluation.

A) Search
B) Product
C) Credence
D) Experience

Question 56

An example of a tangible purchase is

A) consulting advice.
B) the symphony.
C) financial services.
D) clothing.

Question 57

Which of the following is an example of "experience marketing"?

A) Starbucks
B) Cirque du Soleil
C) financial services
D) clothing

Question 58

Which of the following are pure goods?

A) rock concerts
B) DVDs
C) sporting events
D) consulting

Question 59

Which of the following is a question that arises during the marketing exchange?

A) What is it that customers want?
B) Should the product be made in house or outsourced?
C) When should we sell our stock?
D) Should we acquire our competitor?

Question 60

Goods are

A) produced and consumed simultaneously.
B) made to meet quality standards.
C) variable.
D) created on the spot.

Question 61

What does good variability consists of?

A) errors in the system, logistics, and human resources
B) the customization and tailoring of the service delivery for the customer's unique needs
C) a service provider representing the company
D) advancing in many industries wherein a customer interacts with technology, banking, airport check-in, etc.

Question 62

Self-service is advancing in many industries wherein a __________ interacts with __________.

A) customer, a customer service rep
B) service provider, the manufacturer
C) customer, technology
D) manufacturer, technology

Question 63

The definition of a company's core business is similar to

A) a goal statement.
B) a code of conduct.
C) the industry.
D) a mission statement.

Question 64

How can product lines vary?

A) breadth and width
B) time
C) space
D) breadth and depth

Question 65

When customers interact with technology and machines, the variability of the service encounter is reduced by​

A) the standardization of equipment.
B) the customer's preferences.
C) societal norms.
D) complexity.

Question 66

Bad variability involves

A) customization.
B) errors in the system.
C) simple products.
D) manufacturing tolerances.

Question 67

A __________ is comprised of several product lines.

A) product mix
B) marketing mix
C) company
D) service

Question 68

As Chris arrives at the airport, he decides that instead of waiting in line to check-in he will use the automated check-in kiosk.He types in the information requested by the kiosk and his boarding pass is printed within seconds.This exemplifies the growing trend of

A) customer service.
B) self-service.
C) customer intimacy.
D) operational excellence.

Question 69

It is helpful to think of goods and services as

A) existing along a continuum.
B) similar.
C) different.
D) comprised of both logistics and tangible items.

Question 70

The central element of what is purchased is called the "core," and anything bought on top of that is called what?

A) promotions
B) goods
C) value-addeds
D) extras

Question 71

The most successful example of self-service is

A) airport check-in.
B) banking.
C) the Internet.
D) online shopping.

Question 72

What is the core service of the Cincinnati Reds, a major league baseball team?

A) a way for people to spend time with their family
B) the TV coverage of the games
C) the experience
D) the ball game

Question 73

Services are said to be more __________ than goods.

A) durable
B) tangible
C) inseparable
D) variable

Question 74

Jeni starts a new job as a lab assistant, but the lab is located on the other side of town.When she decides where to purchase a car, her main concern will be the

A) staff she interacts with at the company.
B) cars the company is selling.
C) service plan provided for purchases.
D) financing the company offers.

Question 75

The online purchase is a mix of

A) purchasers.
B) professional services.
C) qualities.
D) goods and services.

Question 76

What has consequences in the interaction between the service provider and the customer?

A) the inseparability of production and consumption
B) the perishability of the item
C) the age of the customer
D) the elasticity of demand

Question 77

Beta Company makes items you typically see in a golf specialty store.It already makes golf balls.Which of the following would be an expansion in the breadth direction?

A) golf bags
B) golf clubs
C) soccer balls
D) golf shoes

Question 78

When can core businesses change?

A) when customers demand it
B) when a firm updates its software
C) when a firm's competencies change
D) when a firm outsources

Question 79

What mistake can companies make when they define their core business?

A) being myopic
B) seeing the big picture
C) being too strategic
D) being too technical

Question 80

Alpha Company makes items you typically see in a drug store.If it makes toothpaste, which of the following would be expansion in the depth direction?

A) beauty
B) floss
C) shampoo
D) tanning spray