Identify the dimensions along which goods and services differ.

Discuss the complexity around the elements that make up what marketers offer, and customers buy.

How Are Goods Different from Services?

What Do We Mean by Product?

What Is the Firm$$s Core and Value$-$added Market Offerings?

When you get your hair cut, what$$s the $$core$$ of what you buy vs$.$ what are the $$value$-$addeds$$ in the purchase? What$$s a consultant$$s core vs$.$ value$-$addeds? What are the core vs$.$ value$-$addeds for music?

Consider one of these purchases: health care, a car, a time$-$share condo. What elements are tangible vs$.$ intangible? How do the tangible vs$.$ intangible components contribute to your satisfaction or dissatisfaction with the consumption?

Some companies have traditionally been known for their excellence in tangibles$$for example, Xerox in copiers, IBM in computers$$who now describe themselves as primarily service companies. Do you agree? What does it take for a company to declare itself as a service organization $($e$.$g$.,$ a percentage of business, a certain strategy or mission$)?$ What would it take for you to believe such a claim?

A $$product$$ is the general term used to describe both goods and services.

a$.$ True

b$.$ False

$10.$ All marketing managers have the same goal: to understand and please their customers.

a$.$ True

b$.$ False

$11.$ We learn of and discuss product, price, place, and promotion separately because there are many details to consider for each element.

a$.$ True

b$.$ False

$12.$ The execution of the $4$Ps is flexible$$only one piece needs to be in place and sending a consistent message for the overall "product" to be attractive to the customer.

a$.$ True

b$.$ False

$13.$ When drivers purchase cars that are highly rated for their safety, the essential product is safety and the modifier is the actual car.

a$.$ True

b$.$ False

$14.$ The word "product" can only be defined as a general term that includes services and goods.

a$.$ True

b$.$ False

$15.$ The word product can be defined as a mathematical term for multiplication.

a$.$ True

b$.$ False