Chapter 8: ELEMENTS OF PRODUCTS PALNNING FOR GOODS & SERVICES

1. What is included in the "Product" offering from a marketing perspective?

• Only the physical good

• The need-satisfying offering of a firm

• Only the service provided

• The price of the item

1. What does "Product quality" mean from a marketing perspective?

• The product's technical specifications

• The product's ability to last a long time

• A product's ability to satisfy a customer's needs or requirements

• The product's features compared to competitors

1. What is a warranty?

• An optional feature of a product

• A suggestion for product improvement

• An explanation of what the seller promises about its product

• A guarantee that the product will never break

1. Which of the following is an example of a "product line"?

• A company's entire offerings

• Different sizes and scents of a brand of soap

• A single item on a store shelf

• All the departments in a store

1. What is a "product assortment"?

• The variety of colors a product comes in

• All the services a company offers

• The set of all product lines and individual products a firm sells

• Products aimed at a specific target market

1. What is a key difference between a good and a service?

• A good is intangible, and a service is tangible

• A good is physical, and a service is intangible

• Goods are produced locally, and services are mass-produced

• Goods cannot be owned, and services can be owned

1. Why do service providers often emphasize physical evidence of quality?

• To make the service tangible and reduce uncertainty

• To increase the price of the service

• Because services are easy to touch and feel

• To confuse customers

1. Which of the following is NOT true about services?

• Services are perishable

• Services are intangible

• Services can be stored

• Service quality can be inconsistent

1. What is augmented reality (AR)?

• A completely virtual reality experience

• Technology that replaces the real world with a digital one

• Technology that overlays digital information on a user's view of the real world

• A type of artificial intelligence

1. What is a potential benefit of integrating technology into a product?

• Lower production costs

• Reduced need for marketing

• Offering additional customer value and differentiation

• Simplifying the product for the customer