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BUS 343 Final: study Quest

Business Administration
Course Code
BUS 343
Cluny South
Study Guide

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1. Products and services fall into two broad classes based on the types of consumers that use
them. Name these two broad classes and describe how they are different from each other.
Consumer products = purchased by consumers for personal use
Industrial products = purchased for further processing/use in conducting a business
2. Name and describe three decisions that companies make regarding their individual products
and services.
Product quality = characteristics that bear on its ability to satisfy stated/implied customer
Product features
Features are competitive tool for differentiating company’s product from
Style & design
Style = appearance of product - Design = more than skin deep, goes to heart of product
Contributes to product’s usefulness as well as its looks
3. Compare product mix width, length, consistency, and depth. → Product mix (aka product
portfolio) consists of all the product lines and items that a company markets.
Width: refers to the number of product lines that a company sells. Length: pertains to the number
of total products or items in company’s product mix. Depth: refers to the number of versions
offered of each product in the line. Consistency: refers to how closely related the various product
lines are in end use, production requirements, distribution channels, or some other way
4. Services are characterized by four key characteristics. Name and describe these four
1. Intangibility - services cannot be seen, tasted, felt, heard, or smelled before they are
bought (ex. people undergoing cosmetic surgery cannot see the results before the
purchase). Service provider’s task is to make the service tangible in one or more ways to
send the right signals about quality (called evidence management).
2. Inseparability - services cannot be separated from their providers, whether the providers
are people or machines. If service employee provides the service, then the employee
becomes a part of the service. Provider-customer interaction is a special feature of
services marketing; both the provider and the customer affect the service outcome.
3. Variability - quality of services depends on who provides them, as well as when, where,
and how they are provided. (ex. Marriott hotels have reputations for providing excellent
services. A given Marriott hotel may have an employee that is cheerful and efficient,
whereas another Marriott hotel in a different location may be unpleasant and slow).
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