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</p> Signup and view all the answers

    What is the relationship between goods and services?

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

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

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

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

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

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