Product/service management is a marketing function that involves obtaining, developing, maintaining, and/or improving a product or service mix in response to

• Government oversight

• Competitors only

• Market opportunities

• Upper level management

Which of the following does product/service management help businesses to do?

• To barter

• To prospect

• To compete

• To recruit

A good or service with monetary value that satisfies customers’ needs and wants.

• Slogan

• Product

• Headline

• Intangible

An intangible activity that is consumed at the time of production

• Product

• Slogan

• Service

• Heterogeneous

A tangible object that customers can purchase that can be stored after purchase and resold

• Heterogeneous

• Good

• Slogan

• Service

Virtually all products can be marketed to both industrial buyers and final ________.

• Producers

• Consumers

• Retailers

• Wholesalers

This characteristic of services means that a service cannot be touched, tasted, seen, etc

• Tangible

• Intangible

• Perishable

• Inseparable

Unsold seats on an airline cannot be stored for future use. This is an example of which characteristic of services?

• Heterogeneous

• Intangible

• Inseparable

• Perishable

This term means that differences can occur from one service provider to the next.

• Heterogeneous

• Intangible

• Inseparable

• Perishable

This ultimately determines if a good or service is an industrial good or a consumer good

• The day of the month that the good is purchased

• Who purchased the product and how it is used

• How much the buyer is charged for the product

• Was the good purchased with cash or credit