Chapter 6 - Offerings

Question 1

What is an offering?

Answer 1

Product/service designed to deliver VALUE to customers

Question 2

What are the four characteristics of a service? What is each?

Answer 2

Intangible - cannot be seen smelled heard or touched
Perishable - cannot be stored like a physical good
Inseparable - performed and consumed at the same time
Variable - will be performed in a different way each time

Question 3

Product Dominant Approach

Answer 3

Focuses on product itself - quality will naturally attract customers

Question 4

Service Dominant Approach

Answer 4

Focuses on services/relationships/experiences - viewing products as a tool that help deliver value

Question 5

What are product levels?

Answer 5

All the different values given to a customers in a single product

Question 6

What are the categories in the product mix? What does each entail.

Answer 6

Width - all the product lines a company sells
Line - one line itself
Depth - assortment (size colour)
Length - total number of products the company sells Line

Question 7

What are the four types of offerings? What is each?

Answer 7

Convenience - frequent buys that are fairly inexpensive and has a wide availability
Shopping - less frequent buys which are compared carefully
Specialty - unique and highly desirable buys
Unsought - only boughten if absolutely necessary

Question 8

What are the main B2B offerings? What are each?

Answer 8

Raw materials - natural, unprocessed resources
Manufactured materials - processed from raw materials (used in production)
Component parts and assemblies - built into final products without further modification
MRO Offerings - maintain a company’s assets (ex. Cleaning sup., lube)
Facilitating Offerings - supports operations but not part of the final product.
Capital equipment offering- long-lasting equipment boughten to produce

Question 9

Brand name vs brand mark

Answer 9

Name - spoken part of the brand
Mark - symbol/visual identities

Question 10

Primary vs secondary vs tertiary packaging

Answer 10

Primary - direct contact with product
Secondary - outer wrapping/box
Tertiary - bulk packaging (for shipping)