Building Customer Value Question and Answer - 8048 Words

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†¦show more content†¦A) specialty products B) social marketing C) shopping products D) consumer products E) responsibility marketing Answer: B Diff: 2 Page Ref: 229 AACSB: Ethical Reasoning Skill: Concept Objective: 8-1 21) Developing a product or service involves defining the benefits that it will offer. These benefits are communicated and delivered by ________ such as quality, features, and style and design. A) private brands B) product attributes C) consumer products D) product mixes E) marketing tools Answer: B Diff: 3 Page Ref: 229 AACSB: Communication Skill: Concept Objective: 8-2 22) ________ is one of the marketer s major positioning tools because it has a direct impact on product or service performance; it is therefore closely linked to customer value and satisfaction. A) Packaging B) Product quality C) Total quality management D) Specialty product marketing E) Positioning Answer: B Diff: 2 Page Ref: 229 AACSB: Communication Skill: Concept Objective: 8-2 23) ________ is an approach in which all the company s people are involved in constantly improving the products, services, and business processes. A) Product quality B) Brand equity C) TotalShow MoreRelatedCustomer-Based Brand Equity Model (Cbbe)1111 Words   |  5 PagesCustomer-Based Brand Equity Model (CBBE) CBBE act as a bridge to add value on a product endowed to a product as a result of past investments in the marketing of a brand. It is also provide provides direction and focus to future marketing activities. CBBE model designed to assist management in brand building efforts. 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I personally do believe in both your understanding and your thoughts. =========================================================== The following questions are short essay questions, requiring responses of approximatelyRead MoreEssay about business model 1842 Words   |  4 Pagesorganization creates, delivers, and captures value.† (14) In simple terms, a business model is an outline or a blueprint an organization uses to constract effective processes, structure, and systems. While business models can be complex and unique, a basic understanding and definition of a business model is important for success. To simplify the complexities of defining a business model, one can view customer segments, value propositions, channesl, customer relationships, revenue streams, key resourcesRead MoreSample Survey On Value Of Banking1375 Words   |  6 Pagestitled Value in Banking. 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