Marketing Classification of Products
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Questions and Answers

What are the three types of goods?

  • Basic, Luxury, Emergency
  • Organic, Non-organic, Specialty
  • Luxury, Essential, Impulse
  • Convenience, Shopping, Specialty (correct)

    • What are consumer goods used for?

    Personal, family, or household use.

    What defines convenience goods?

    Inexpensive, purchased frequently, no commitment to certain brands.

    What are staples?

    <p>Basic food items such as bread and milk.</p> Signup and view all the answers

    What are impulse purchases?

    <p>Unplanned purchases.</p> Signup and view all the answers

    What does emergency purchasing refer to?

    <p>Buying for immediate need such as medicine or batteries.</p> Signup and view all the answers

    What is shopping goods characterized by?

    <p>Search and compare quality, price, options.</p> Signup and view all the answers

    What defines specialty goods?

    <p>Loyal to a specific brand, willing to pay more.</p> Signup and view all the answers

    What are rented goods services?

    <p>Provide a product that a customer rents and uses.</p> Signup and view all the answers

    What are owned goods services?

    <p>Alter, improve, or repair a product that you already own.</p> Signup and view all the answers

    What are non-good services?

    <p>Personal or professional services without involving a product.</p> Signup and view all the answers

    What is product planning?

    <p>All of the decisions a business makes in the production and sale of its products.</p> Signup and view all the answers

    What is a product mix?

    <p>All different products offered by a business.</p> Signup and view all the answers

    What is a product line?

    <p>All different types of products within a category.</p> Signup and view all the answers

    What is a product item?

    <p>A specific product within a product line.</p> Signup and view all the answers

    What does product width refer to?

    <p>The number of different product lines.</p> Signup and view all the answers

    What does product depth refer to?

    <p>The number of different products within each line.</p> Signup and view all the answers

    What is the function of packaging?

    <p>Promotes and sells the product, provides information, protects the product.</p> Signup and view all the answers

    What is package altering?

    <p>Improvement of packaging.</p> Signup and view all the answers

    What does 2nd use packaging refer to?

    <p>Packaging that is reusable.</p> Signup and view all the answers

    What is multiple packaging?

    <p>Packaging that consists of more than one unit of the product.</p> Signup and view all the answers

    What is labeling?

    <p>Information seal or imprinted message attached to a product or its package.</p> Signup and view all the answers

    What does branding do?

    <p>Identifies the products of a company.</p> Signup and view all the answers

    What is a brand name?

    <p>The actual name of the product.</p> Signup and view all the answers

    What are the different types of brands?

    <p>Descriptive, Invented, Eponymous, Suggestive</p> Signup and view all the answers

    What is a brand mark?

    <p>Symbol or design with distinctive coloring or lettering.</p> Signup and view all the answers

    What is a trade character?

    <p>Brand mark given human form or characteristics.</p> Signup and view all the answers

    What is individual family branding?

    <p>One manufacturer names each of its products differently.</p> Signup and view all the answers

    What is overall family branding?

    <p>When a manufacturer names all their products with the same name or part of the name.</p> Signup and view all the answers

    What is a warranty?

    <p>A promise or guarantee that a product will meet certain standards.</p> Signup and view all the answers

    What is an express warranty?

    <p>Explicitly stated in a contract.</p> Signup and view all the answers

    What is a full warranty?

    <p>Replacing or repairing at no cost.</p> Signup and view all the answers

    What is a limited warranty?

    <p>Parts excluded; some expense incurred.</p> Signup and view all the answers

    What is an implied warranty?

    <p>Exists automatically by law.</p> Signup and view all the answers

    Study Notes

    Types of Goods

    • Convenience goods: Inexpensive, frequently purchased without brand loyalty.
    • Shopping goods: Consumers search and compare options like clothes and electronics.
    • Specialty goods: Consumers are brand loyal and willing to pay more for premium products.

    Consumer Goods

    • Defined as items used for personal, family, or household purposes.

    Convenience

    • Key characteristic includes low price and high purchase frequency; typically no commitment to specific brands.

    Staples

    • Basic food items, such as bread and milk, essential for everyday consumption.

    Impulse Purchases

    • Unplanned buys that often include items like magazines or candy.

    Emergency Goods

    • Products purchased to satisfy immediate needs, such as medicine or batteries.

    Rented Goods Service

    • Involves renting products for temporary use, examples include limousines and rental trucks.

    Owned Goods Service

    • Services that improve or repair products already owned by customers, such as tailoring or car repairs.

    Non-Good Services

    • Personal or professional services without a physical product, like medical consultations.

    Product Planning

    • Encompasses all decisions related to the production and sale of products.

    Product Mix, Line, and Item

    • Product mix: All different products a business offers.
    • Product line: A group of related products.
    • Product item: A specific variant within a product line.

    Product Width and Depth

    • Product width: Number of different product lines a company has.
    • Product depth: Variety of products within each line.

    Packaging

    • Functions: Promotes the product, provides information, protects the product, and meets design preferences of customers.

    Packaging Innovations

    • Package altering: Enhancements to existing packaging.
    • 2nd use packaging: Reusable packaging designs.
    • Multiple packaging: Packaging several units together instead of individually.

    Labeling

    • Part of packaging that conveys crucial information about the product through seals or messages.

    Branding

    • Identifies and distinguishes the products of a company, contributing to consumer recognition and loyalty.

    Brand Elements

    • Brand name: Actual name given to a product.
    • Types of brands include:
      • Descriptive (e.g., Pop-Tarts)
      • Invented (e.g., Jell-O)
      • Eponymous (named after the manufacturer)
      • Suggestive (e.g., Nike, associated with victory).

    Brand Mark and Trade Character

    • Brand mark: A symbol or design with unique coloring or lettering.
    • Trade character: A brand mark with human traits or characteristics.

    Branding Strategies

    • Individual family branding: Different names for each product from the same manufacturer.
    • Overall family branding: Common or partial name used across multiple products.

    Warranty Types

    • Warranty: A promise about product quality and standards.
    • Express warranty: Explicitly stated terms in a contract.
    • Full warranty: Product replaced or repaired at no charge.
    • Limited warranty: Some parts or conditions may incur costs.
    • Implied warranty: Automatically exists under law regardless of explicit mention.

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    Description

    Test your knowledge on the classification of products in marketing with these flashcards. Learn about the different types of goods, including convenience, shopping, staple, and specialty goods. This quiz will help reinforce your understanding of consumer goods and their characteristics.

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