Match each item with the correct statement below.
-A bundle of physical,service,and symbolic attributes designed to satisfy a customer's wants and needs is called a(n)_____.
A)marketing mix
B)specialty products
C)product
D)services
E)convenience products
F)impulse goods
G)installations
H)wholesalers
I)business-to-business (B2B)
J)supplies
K)emergency goods
L)shopping products
M)component parts and materials
N)staples
O)product mix
P)product line
Q)line extension
R)total quality management
S)product lifecycle
T)benchmarking

Question

Quizplus · Accepted Answer

A bundle of physical, service, and symbolic attributes designed to satisfy a customer's wants and needs is called a product.

Answer: A
 The marketing mix is the combination of elements that a business uses to promote and sell its products or services, including product, price, promotion, and place (distribution).

Answer: D
 Services are intangible products that provide value to customers, such as consulting, education, or healthcare.

Answer: L
 Shopping products are products that customers are willing to spend time and effort to compare and evaluate before making a purchase, such as appliances or clothing.

Answer: E
 Convenience products are products that customers are willing to buy frequently and with minimal effort, such as snacks or toiletries.

Answer: G
 Installations are major capital items, such as buildings or heavy machinery, that are used to produce goods or services.

Answer: H
 Wholesalers are intermediaries that buy products from manufacturers and sell them to retailers or other businesses.

Answer: I
 Business-to-business (B2B) refers to transactions between businesses, such as a manufacturer selling components to another manufacturer.

Answer: M
 Component parts and materials are items that are used in the production of a final product, such as car parts or raw materials for construction.

Answer: N
 Staples are products that customers buy frequently and routinely, such as food or household items.

Answer: O
 A product mix is the total set of products offered by a company, including all product lines and individual products.

Answer: P
 A product line is a group of related products within a company's product mix, such as different flavors or sizes of a certain snack food.

Answer: Q
 A line extension is a new product introduced under an existing product line, such as a new flavor of a certain snack food.

Answer: R
 Total quality management is a management philosophy that focuses on continuous improvement of products, processes, and services to meet or exceed customer expectations.

Answer: S
 The product lifecycle is the sequence of stages that a product goes through from introduction to decline, including development, introduction, growth, maturity, and decline.

Answer: T
 Benchmarking is the practice of comparing a company's products, processes, or services to those of competitors or industry leaders to identify areas for improvement.

Match Each Item with the Correct Statement Below