Marketing Basics: Products and Services
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Questions and Answers

What is a product primarily composed of?

  • Bundle of physical, service, and symbolic attributes (correct)
  • Only symbolic attributes
  • Only service attributes
  • Only physical attributes

What is the primary purpose of a service?

  • To satisfy consumer or business user wants
  • To enhance buyer's need satisfaction
  • To provide a tangible object
  • To perform an intangible task (correct)

What is the main function of the goods-services continuum?

  • To measure the quality of a product
  • To determine the price of a product
  • To classify products as either goods or services
  • To visualize the differences and similarities between goods and services (correct)

Which of the following is a characteristic of a product?

<p>Design to satisfy buyer's want (C)</p> Signup and view all the answers

What is the relationship between goods and services?

<p>Goods and services are on a continuum (C)</p> Signup and view all the answers

What is the term for the set of products that a company offers to customers?

<p>Product mix (B)</p> Signup and view all the answers

What characterizes a group of products in a product line?

<p>They are different versions of the same product (D)</p> Signup and view all the answers

How many product lines does an organization with a product mix typically have?

<p>At least two (A)</p> Signup and view all the answers

What is an example of a company with a product mix?

<p>Sony with all its divisions (A)</p> Signup and view all the answers

What are the two major interrelated dimensions of product policy for international/export marketing?

<p>Product planning and product strategy (D)</p> Signup and view all the answers

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