1. Explain what a product is. Give examples.
2. Explain the marketing exchange.
3. What are the questions that arise during the marketing exchange? Make sure to give examples from each side of the exchange.
4. How do goods differ from services?
5. Discuss the concepts related to the goods-to-services continuum.
6. Which is more dominated by search and experience qualities, goods or services? Which is more dominated by experience and credence qualities? What are the marketing implications due to these differences?
7. Explain the perishability of services and give an example.
8. Discuss the concept of self-service and how it allows marketers to reduce variability.
Explain good vs. bad variability in service encounters.
9. Explain what is meant by core and value-added and give an example of how this applies to a hotel.
10. Which product line strategy is least efficient?
11. Describe three ways a company can set a price.
12. Identify and explain the two major issues that marketers must address regarding low prices.
13. Explain segmentation pricing.
14. Describe and discuss referent pricing.
15. Explain the difference between skimming and pricing for market penetration.
16. Describe push and pull strategies.
17. Define “forward integration” and “backward integration,” by providing examples of each.
18. State three advantages of private labels.
19. Describe three possible growth strategies for retailers.
20. Explain the two major classes of franchising: product franchising and business format franchising.