Page 160 - DMGT408DMGT203_Marketing Management

Unit 6: Products, Services and Brands

Brand Equity: It can be a useful measure of the value contained in a brand. It can help evaluate Notes
brand extensions, create partnerships and provide certainty around market share expectations.
Brand Identity: It refers to a unique set of brand associations that the brand strategist aspires to
create or maintain.
Brand Image: It involves the Impression in the consumers’ mind of a brand’s total personality
which is developed over time through advertising campaigns with a consistent theme, and is
authenticated through the consumers’ direct experience.
Product: A product is anything, which is offered to the market to satisfy consumer needs and
wants.
Product Line: A set of individual products that are closely related.
Service: A service is an intangible product involving a deed, a performance, or an effort that
cannot be physically possessed.

6.6 Review Questions

1. What important attributes would you look for in a medium-priced car?
2. Differentiate between line pruning and line stretching with the help of examples.
3. Define the term ‘service’. Name three labour-intensive services and two services where
consumer presence is not necessary.
4. Discuss the factors that differentiate services from tangible products.
5. Explain the concept of ‘high-contact’ and ‘low-contact’ services. Determine the marketing
implications for each.
6. Explain and analyse the major elements of service quality. Why is it difficult for consumers
to evaluate service quality?
7. Determine the importance of tangibles in service marketing. Give examples of tangibles
and intangible products.

8. Discuss the marketing mix of a beauty salon. (Relevant explanation required)
9. Explain the Endorsement Branding Strategy. Give suitable examples.
10. Discuss the advantages and disadvantages of product branding compared to umbrella
branding. Give example.
11. Determine and explain the branding strategy of any one Indian company.
12. Give examples of the Indian companies that follow line branding and double branding
strategies. What are the benefits of following these strategies, for the companies?
Answers: Self Assessment

1. False 2. True
3. False 4. False
5. True 6. True
7. Physical evidence 8. Intangible

9. Intangibility 10. Variability

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