(13e edition) Chapter 7: Products, Services and Brands

Read the chapter and answer the following questions [to facilitate references later on for the purpose of test-taking, make sure you bold or underline key concepts, use bullet points, and note down the page numbers on the textbook for each concept]:

1Products cover goods, services and experiences. We can imagine a continuum, on one end of which are pure tangible good, and on the other hand pure services.

Give some examples for each of the following:

Pure goods:

Products that contain both good and service components:

Pure services:

Products can also be grouped into consumer products (those bought by individual consumers for personal consumption) and industrial products (those bought by businesses for use in the operation and production of their businesses).

2 List the types of consumer products, list their key features, and provide some examples.

3 List the individual product decision.

4 Define Product Line.

5 List the two ways to expand a product line [Line extension strategies] and provide some product examples for each

6 Define product mix.

7 List and define the four dimensions of product mix.

8 List the four characteristics of services, define each, and provide an example for each.

9 Define branding and list the major brand strategy decisions.

10Brand expansion and development have a few strategies, including licensing, co-branding, line extension and brand extension.

Define the following and provide some brand examples for each:

Brand licensing

Brand extension

Co-branding

11 The product mix of Coca-Cola is here:https://www.coca-colacompany.com/brands

a) How many general product lines does it have?

b) Based on your daily experience, how does the company expand its Coca-Cola soft drink line?