Question 1

A company markets a fairly wide variety of products that includes paper, food, household cleaning supplies, medicine, cosmetics, and oral-care products.The products constitute the company's:

Accepted Answer

The company's product mix refers to the complete range of products that the company offers, which in this case includes paper, food, household cleaning supplies, medicine, cosmetics, and oral-care products.

Question 2

The complete set of all products offered by a firm are called the:

Accepted Answer

The product mix is the complete set of all products offered by a firm.

Question 3

Refrigerators and washing machines are examples of:

Accepted Answer

Refrigerators and washing machines are considered shopping products as they are purchased after comparison shopping and require more thought and consideration before making a purchase decision compared to convenience products.

Question 4

Those products or services for which the consumer is not willing to spend any effort to evaluate prior to purchase are called:

Accepted Answer

Convenience products/services are those that consumers purchase frequently and with minimal effort, without the need for extensive evaluation.

Question 5

Products and services used by people for their personal use are called:

Accepted Answer

Consumer products is the term used for products and services used by people for their personal use. This includes goods such as clothing, electronics, food and beverages, as well as services such as haircuts, healthcare, and transportation.

Question 6

Products or services toward which customers show such a strong preference that they will expend considerable effort to search for the best suppliers are called:

Accepted Answer

Specialty products/services are those for which customers have a strong preference and are willing to spend significant effort to find the best suppliers.

Question 7

The basic problem-solving benefits that consumers are seeking are called the:

Accepted Answer

The core customer value refers to the fundamental benefits or problem-solving services that consumers seek when they purchase a product.

Question 8

When shopping for diamonds, buyers typically do a great deal of research on what they should be looking for in a diamond as well as viewing different diamonds (loose or in settings) to choose the one they want to buy.Diamonds are an example of a(n):

Accepted Answer

Specialty products are products that have unique characteristics and for which buyers are willing to make a special effort to buy. Diamonds are a specialty product because they are unique and buyers are willing to spend time and effort to find the perfect diamond.

Question 9

A product line refers to:

Accepted Answer

A product line is a group of related products that are marketed under a single brand and are often used together by consumers.

Question 10

An assortment of items that the customer sees as reasonable substitutes for one another are called:

Accepted Answer

Product categories refer to a group of items that consumers perceive as reasonable substitutes for each other.

Question 11

Products consumers either do not normally think of buying or do not know about are called:

Accepted Answer

Unsought products are those that consumers do not normally think of buying or are unaware of, often requiring significant marketing efforts to sell.

Question 12

The Apple logo, which is an apple with a bite taken out of it, identifies Apple's goods as distinct from those of other sellers.The Apple logo is an example of a(n):

Accepted Answer

The Apple logo is a symbol that represents the brand, distinguishing Apple's products from those of other companies.

Question 13

Milk and eggs are inexpensive items that are frequently purchased.They are examples of:

Accepted Answer

Milk and eggs are convenience products because they are frequently purchased, inexpensive, and widely available in most grocery stores. Convenience products are those products that consumers buy often, without much thought or consideration, and usually require minimal effort to purchase.

Question 14

A new car entered the market with great success.Positioned as a sports car with supercar performance, it has shattered the lap times of the fastest cars in the world.Customers primarily looking for speed and excitement are the target market.Speed and excitement constitute the:

Accepted Answer

The core customer value refers to the fundamental benefit or need that the product fulfills for the customer. In this case, the speed and excitement offered by the sports car represent the core customer value.

Question 15

Joss bought a refrigerator.The refrigerator came with a warranty, free delivery, and free after- sales service.The warranty, free delivery, and after-sales service constitute the:

Accepted Answer

The augmented product includes additional services and benefits such as warranty, delivery, and after-sales service that enhance the core product.

Question 16

Any feature in a product that identifies one seller's good or service as distinct from those of other sellers is called a(n):

Accepted Answer

A brand is a feature that distinguishes one seller's goods or services from those of other sellers.

Question 17

Products or services, such as furniture, apparel, fragrances, appliances, and travel alternatives, for which consumers will spend a fair amount of time comparing alternatives are called:

Accepted Answer

Shopping products/services are those for which consumers spend a fair amount of time comparing alternatives, such as furniture, apparel, fragrances, appliances, and travel options.

Question 18

Cemetery plots are examples of:

Accepted Answer

Cemetery plots are considered unsought products because they are not typically thought about or actively sought out by consumers until a specific need arises, such as planning for end-of-life arrangements.

Question 19

The nonphysical attributes of the product, including product warranties, financing, product support, and after-sale service are called the:

Accepted Answer

The augmented product includes nonphysical attributes such as warranties, financing, product support, and after-sale service, which enhance the core product offering.

Question 20

A company markets paper, food, household cleaning supplies, medicine, cosmetics, and oral- care products.Under oral-care products, the company markets a brand of toothpaste available in three sizes and two formulations (paste and gel).Paper, food, household cleaning supplies, medicine, cosmetics, and oral-care products constitute the:

Accepted Answer

The product mix breadth refers to the variety of different product lines a company offers, which in this case includes paper, food, household cleaning supplies, medicine, cosmetics, and oral-care products.

Quiz 9: Services the Intangible Product