1. CHAPTER 8 DISCUSSION QUESTIONS
1) Read the Under Armour case on pages 190 & 191.
2) The need-satisfying offering of a firm is known as what?
3) Define quality.
4) What is branding?
5) What is the difference between a trademark & a service
mark?
6) How well customers recognize & accept a company's
brand is known as what?
7) Define each level of brand familiarity.
2. PRODUCT
“THE NEED-SATISFYING OFFERING OF A FIRM.”
-MOST CUSTOMERS THINK ABOUT A PRODUCT IN TERMS OF THE
TOTAL SATISFACTION IT PROVIDES.
3. GOODS & SERVICES AS PRODUCTS
-A GOOD IS A TANGIBLE ITEM.
-IT IS A PHYSICAL THING THAT CAN BE SEEN & TOUCHED.
-SERVICES ARE INTANGIBLE.
-THEY ARE EXPERIENCED, USED, OR CONSUMED.
4. “A PRODUCT’S ABILITY TO SATISFY A CUSTOMER’S NEEDS OR
REQUIREMENTS.”
QUALITY
-THE DEFINITION FOCUSES ON HOW THE CUSTOMER THINKS A
PRODUCT WILL FIT SOME PURPOSE.
7. ABSOLUTE QUALITY
-DEALS WITH MAKING SURE THAT A PRODUCT/SERVICE MEETS PREDEFINED
SPECIFICATIONS.
-USED TO IMPROVE THE EFFICIENCY OF A BUSINESS PROCESS.
RELATIVE QUALITY
-DEALS WITH MAKING SURE THAT A PRODUCT/SERVICE IS SUFFICIENTLY
ACCEPTABLE AS PERCEIVED BY A CUSTOMER.
-USED TO IMPROVE THE EFFECTIVENESS OF YOUR BUSINESS.
8. BRANDING
“THE EFFORTS INTENDED TO IDENTIFY THE GOODS & SERVICES OF ONE
SELLER & TO DIFFERENTIATE THEM FROM THOSE OF OTHER SELLERS.”
-IT’S ABOUT GETTING YOUR PROSPECTS TO SEE YOU AS THE ONLY ONE THAT
PROVIDES A SOLUTION TO THEIR PROBLEM.
-A STRONG BRAND IS INVALUABLE AS THE COMPETITION FOR PROSPECTS
INTENSIFIES.
-SIMILAR TO BRANDING ON THE RANCH.
-USED TO DIFFERENTIATE YOUR COMPANY (COW) FROM ALL OTHER
COMPANIES (CATTLE).
EFFECTIVE BRANDING WILL:
-DELIVE A CLEAR MESSAGE.
-CONFIRM YOUR CREDIBILITY.
-CONNECT YOUR TARGET PROSPECTS EMOTIONALLY.
-MOTIVATE THE BUYER.
