Building Customer Value: Question and Answer
Chapter 8 Product, Services, and Branding Strategies: Building Customer Value
1) We define a ________ as anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need.
D) product
2) ________ 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.
B) Services
3) 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
4) To differentiate themselves, many companies are going beyond products and services, they are developing and delivering customer ________.
B) experiences
5) 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?"
C) core customer value
6) The third level of a product that product planners must consider is a(n) ________ around the core benefit and actual product that offers additional consumer services and benefits.
B) augmented product
7) Product planners must design the actual product and find ways to ________ it in order to create the bundle of benefits that will provide the most satisfying customer experience.
D) augment
8) 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
9) ________ are products and services bought by final consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products.
B) Consumer products
10) ________ 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
1) We define a ________ as anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need.
D) product
2) ________ 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.
B) Services
3) 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
4) To differentiate themselves, many companies are going beyond products and services, they are developing and delivering customer ________.
B) experiences
5) 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?"
C) core customer value
6) The third level of a product that product planners must consider is a(n) ________ around the core benefit and actual product that offers additional consumer services and benefits.
B) augmented product
7) Product planners must design the actual product and find ways to ________ it in order to create the bundle of benefits that will provide the most satisfying customer experience.
D) augment
8) 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
9) ________ are products and services bought by final consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products.
B) Consumer products
10) ________ 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