Understanding Products and Services

What is a product?

• Only tangible goods

• Only services

• Anything offered to satisfy a need or want

• Only industrial items

Which of the following is NOT a characteristic of services?

• Intangibility

• Inseparability

• Perishability

• Ownership

What are consumer products bought frequently with minimal effort?

• Shopping products

• Specialty products

• Convenience products

• Unsought products

Which of these is an example of a specialty product?

• Fast food

• Designer clothes

• Household cleaning supplies

• Newspapers

Industrial products include all of the following EXCEPT:

• Capital items

• Convenience products

• Materials and parts

• Supplies and services

What is the definition of a product line?

• All products sold by a company

• A group of related products sold to the same customer group

• A specific brand name

• A single product category

What does product mix width refer to?

• The number of different product lines a company offers

• The total number of products in a line

• The consistency of the product mix

• The depth of a product category

Which of the following is NOT a product or service classification?

• Convenience products

• Shopping products

• Inventory products

• Specialty products

What is brand equity?

• The financial cost of a brand

• The total financial value of a brand

• The value customers attach to a brand name

• The number of products in a brand

Which of the following is NOT part of brand positioning?

• Attributes

• Benefits

• Ownership

• Beliefs and values