Question 1(2 points)

Which of the following best describes product attributes?

Question 1 options:

None of them

Specific benefits that customers expect to receive when using the product

Subjective value that customers derive from the product

Objective characteristics of the product

Question 2(2 points)

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What are the three types of customer benefits that may be derived from a product?

Question 2 options:

all of them

functional

psychological

monetary

Question 3(2 points)

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Which of the following in NOT among the key attributes defining service functionality?

Question 3 options:

Performance

Degree of customization

Durability

Consistency

Question 4(2 points)

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What are included in the four stages of the product life cycle?

Question 4 options:

Growth

All of them

Introduction

Maturity

Question 5(2 points)

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Which of the following is a cause of involuntary obsolescence?

Question 5 options:

Style obsolescence

All of them

Technological advancements

Changes in technological standards

Question 6(2 points)

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Which of the following is an example of extending the product life cycle to create another sales peak?

Question 6 options:

Craftsman offering a lifetime warranty on their tools.

Hyundai building durable cars that can last longer.

Apple regularly introducing new versions of iPhone.

General Motors offering distinct brands such as Chevrolet, Buick, and Cadillac.

Question 7(2 points)

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What are the distinctive characteristics that separate services from products?

Question 7 options:

All of them

Services usually do not involve a change in ownership.

Services are characterized by greater variability in performance than products.

Services are usually delivered and consumed at the same time.

Question 8(2 points)

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What are the primary functions of a brand?

Question 8 options:

all of them

Identify a company's offering(s)

Differentiate a company's offering(s) from the competition

Create market value beyond that created by product/service attributes of a company's offering(s)

Question 9(2 points)

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What is a brand image?

Question 9 options:

A set of associations delineating the key concepts linked to the brand name

The way in which customers see the brand though the lens of their own values, beliefs, and experiences

All of them

Question 10(2 points)

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What is the monetary value of the brand that is important in merges and acquisitions?

Question 10 options:

Brand loyalty

Brand image

Brand equity

Brand power