Characteristics of a Service
Products and Services all the same Characteristics
False
Paper from Staples
"Face" of the product that often provides product information
Packaging
When a company only changes a few things about their logo but keeps most things the same, this is know as a
Partial Rebrand
Coca Cola is in this stage of the product life cycle.
Maturity
They cannot be touched or tried before a customer purchases them. It is very difficult to represent in marketing.
Intangable
Office Chairs
Both
What promises to correct certain problems should they occur
Warranty
Dunkin Donuts rebranded in 2018 with a new name, logo, promotional campaign, and offerings, trying to move into the lifestyle brand category. Which Strategy did they use?
Reposition themselves in the market
Companies should focus their marketing strategy on this in the growth stage of the product life cycle.
Differentiation
A service only exists once and is never exactly repeated in the same way. This could lead to quality control issues.
Variable
Cell phone Case
Consumer
"Premium or moderate-value" refers to which product element?
Quality
The NHL introduce its 30th Franchise the Seattle Kraken in 2021. Which Strategy did they use?
Expanding into a new market
Customers in the decline stage of the product life cycle are called this.
Laggards
Production of the service cannot be separated from the use of the service. Example - Law does not exist without the lawyer.
Inseperable
Large Whiteboards
Business
When cost is high, ______ is also often high?
Quality
Chase and J.P.Morgan are banks in the United States.
Merger and Acqusition
A product that repeats the life cycle over and over again is called this.
Fashion / Trend
Services cannot be stored for later use. Example - unsold concert tickets cannot be stored at a later time.
Perishable
Desktop computers
Both
a feature that can be added to a product at the customer’s request
Option
When Elon Musk bought Twitter, he wanted to change the image of the social media platform. The first step was to change the logo. Which Strategy did they use?
Merger and Acqusition
What type of products don't follow the standard life cycle?
Fads