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Final

BUS 343 Final: STUDY QUESTIONS c8-15Exam


Department
Business Administration
Course Code
BUS 343
Professor
Cluny South
Study Guide
Final

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Chapter 8 Developing and Managing Products and Services
Chapter 8: 274 282
Learning Objective: 8-1
1) A ________ is defined as anything that can be offered to a market for attention, acquisition,
use, or consumption that might satisfy a want or need.
A) private brand
B) service variability
C) service
D) product
E) service encounter
Diff: 1 Type: MC Page Ref: 278
Skill: Concept
Objective: 8-1
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.
A) Line extensions
B) Services
C) Brands
D) Consumer products
E) Supplements
Diff: 1 Type: MC Page Ref: 278
Skill: Concept
Objective: 8-1
3) Product is a key element in a company's ________, which may, at one extreme, consist of
pure tangible goods or, at the other extreme, pure services.
A) market offering
B) brand equity
C) brand extension
D) co-branding
E) core customer value
Diff: 1 Type: MC Page Ref: 278
Skill: Concept
Objective: 8-1

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

4) To differentiate themselves, many companies go beyond offering products and services; they
are also developing and delivering customer ________.
A) feedback
B) experiences
C) brands
D) product lines
E) events
Diff: 2 Type: MC Page Ref: 278
Skill: Concept
Objective: 8-1
5) Product planners consider products and services on three levels. The most basic level is the
________, which addresses the question, "What is the buyer really buying?"
A) actual product
B) augmented product
C) core customer value
D) co-branding
E) exchange
Diff: 2 Type: MC Page Ref: 279
Skill: Concept
Objective: 8-1
6) The third level of a product that product planners consider is a(n) ________ around the core
benefit and actual product that offers additional consumer services and benefits.
A) augmented product
B) brand equity
C) brand extension
D) industrial product
E) image
Diff: 2 Type: MC Page Ref: 279-280
Skill: Concept
Objective: 8-1
7) Product planners must design the actual product and also find ways to ________ it in order to
create the bundle of benefits that will create the most customer value.
A) promote
B) package
C) brand
D) augment
E) present
Diff: 2 Type: MC Page Ref: 280
Skill: Concept
Objective: 8-1
8) Products and services fall into two broad classifications based on the types of consumers that
use them. Which of the following is one of these broad classes?
A) industrial products

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

B) specialty products
C) supplies and services
D) materials and parts
E) convenience products
Diff: 2 Type: MC Page Ref: 280
Skill: Concept
Objective: 8-1
9) ________ are products and services bought by final consumers for personal consumption.
These include convenience products, shopping products, specialty products, and unsought
products.
A) Services
B) Consumer products
C) Line extensions
D) Industrial products
E) Straight extensions
Diff: 1 Type: MC Page Ref: 280
Skill: Concept
Objective: 8-1
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 information and making comparisons about these products.
A) Shopping products
B) Convenience products
C) Unsought products
D) Industrial products
E) Line extensions
Diff: 1 Type: MC Page Ref: 280
Skill: Concept
Objective: 8-1
11) ________ are consumer products and services with unique characteristics or brand
identification for which a significant group of buyers is willing to make a special purchase effort.
A) Shopping products
B) Unsought products
C) Specialty products
D) Industrial products
E) Line extensions
Answer: C
Diff: 1 Type: MC Page Ref: 280
Skill: Concept
Objective: 8-1
12) ________ are consumer products that the consumer either does not know about or knows
about but does not normally think about buying. These products require a lot of advertising,
personal selling, and other marketing efforts.
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