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Marketing Concepts Quiz
40 Questions
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Marketing Concepts Quiz

Created by
@GlamorousHolly

Questions and Answers

What is defined as a name, term, symbol, design, or a combination of them to identify the goods and services of one seller?

  • Product
  • Brand (correct)
  • Generic product
  • Customized product

    • A generic product is a modified product tailored to the specifications of an individual customer.

    False

    What refers to the unbranded and undifferentiated commodity?

    Generic product

    The __________ product aims to enhance the value of the product through voluntary improvement.

    <p>augmented</p> Signup and view all the answers

    Which characteristic does durability refer to in product classification?

    <p>Average life of the product</p> Signup and view all the answers

    Tangibility refers to the physical attributes of a product.

    <p>True</p> Signup and view all the answers

    What does the term 'potential product' refer to?

    <p>Future product</p> Signup and view all the answers

    Match the following terms with their definitions:

    <p>Customized product = Modified product to meet individual specifications Augmented product = Enhanced features beyond the basic offering Generic product = Unbranded and undifferentiated commodity Brand = Identifier of goods and services for differentiation</p> Signup and view all the answers

    What is a required factor for a new product to succeed in the marketplace?

    <p>A clear point-of-difference</p> Signup and view all the answers

    All products must pass through every stage of the product life cycle.

    <p>False</p> Signup and view all the answers

    Name one reason why new products fail.

    <p>No product point-of-difference.</p> Signup and view all the answers

    Established customer ________ can limit the success of new products.

    <p>loyalty</p> Signup and view all the answers

    Which of the following is NOT a reason for the failure of new products?

    <p>High product pricing</p> Signup and view all the answers

    What can cause a product to skip the introduction stage?

    <p>Introduction of a superior new product.</p> Signup and view all the answers

    A poorly designed product is unlikely to generate repeat sales.

    <p>True</p> Signup and view all the answers

    Match the reasons for product failure with their descriptions:

    <p>No product point-of-difference = Lack of incentive to try the product Poor product design = Results in poor quality or function Established customer loyalty = Consumers reluctant to switch brands Development phase errors = Problems during the final product design process</p> Signup and view all the answers

    What is one of the primary reasons for packaging a product?

    <p>To protect the product from damage</p> Signup and view all the answers

    Packaging decisions only need to be accepted by the final customer.

    <p>False</p> Signup and view all the answers

    What percentage of a cosmetics product's selling price can be attributed to packaging costs?

    <p>40%</p> Signup and view all the answers

    Visibility in packaging design helps to capture the customer's ________ when shopping.

    <p>attention</p> Signup and view all the answers

    Match the packaging decision with its importance:

    <p>Protection = Prevents damage during shipping Visibility = Captures customer attention Added Value = Enhances product attractiveness Cost = Can significantly affect selling price</p> Signup and view all the answers

    Which of the following is an advantage of having a family of similar packaging?

    <p>Easier brand recognition</p> Signup and view all the answers

    Developing new packaging can be inexpensive and simple to execute.

    <p>False</p> Signup and view all the answers

    What should packaging design incorporate to ensure it is accepted by distributors?

    <p>Conformance to requirements</p> Signup and view all the answers

    Which of the following is an example of durable goods?

    <p>LCD TV</p> Signup and view all the answers

    Services are tangible products that can be stored and sold later.

    <p>False</p> Signup and view all the answers

    What are convenience products?

    <p>Goods that a customer purchases frequently with minimal effort.</p> Signup and view all the answers

    ______ goods are purchased on a regular basis and become a daily necessity.

    <p>Staple</p> Signup and view all the answers

    Which of the following is NOT a characteristic of consumer goods?

    <p>They are always perishable</p> Signup and view all the answers

    Match the following types of goods with their definitions:

    <p>Durable Goods = Tangible goods used for many years Services = Intangible products that cannot be owned Convenience Products = Frequent purchases with minimal effort Staple Goods = Regular necessity items</p> Signup and view all the answers

    What is the primary focus for marketing durable goods?

    <p>Personal selling and after sales service</p> Signup and view all the answers

    Fast-moving consumer goods generally require high levels of personal selling.

    <p>False</p> Signup and view all the answers

    What is an example of a product that uses innovative packaging?

    <p>Nescafe coffee jars</p> Signup and view all the answers

    Ecological packaging includes materials that can decompose over time.

    <p>True</p> Signup and view all the answers

    What benefits does reuse packaging offer to customers?

    <p>Stimulates repeat purchases and offers added value for the same price.</p> Signup and view all the answers

    Innovative packaging can stimulate __________ purchases.

    <p>repeat</p> Signup and view all the answers

    Match the examples with their respective packaging strategies:

    <p>Nescafe coffee jars = Innovative packaging Kissan jam bottles = Innovative packaging Biodegradable materials = Ecological packaging Paper and cardboard boxes = Ecological packaging</p> Signup and view all the answers

    Which aspect of labeling is NOT mentioned as helpful to sellers?

    <p>Providing customer reviews</p> Signup and view all the answers

    Labeling provides customers with detailed information about the product.

    <p>True</p> Signup and view all the answers

    What is one responsibility of businesses regarding ecological packaging?

    <p>To reduce pollution.</p> Signup and view all the answers

    Study Notes

    Product Definition and Characteristics

    • A product satisfies customer needs and wants.
    • Products possess their own identity and personality.
    • A brand identifies a seller's goods and services, differentiating them from competitors.
    • Symbols and visual elements enhance product recognition.
    • The focal point of marketing activities is the product itself.

    Types of Products

    • Generic product: Unbranded and undifferentiated commodities.
    • Customized product: Tailored to meet individual customer specifications.
    • Augmented product: Enhanced with additional features or benefits.
    • Potential product: Future advancements and refinements that could occur.

    Product Classification

    • Classification helps marketers position products based on durability, tangibility, and user type.
    • Durability refers to the average lifespan of the product.
    • Tangibility indicates the product's physical attributes.
    • User type categorizes products as consumer or industrial.

    Product Types Based on Durability

    • Durable goods: Physical products used over several years, requiring more personal selling and service. Examples include TVs and appliances.
    • Services: Intangible offerings requiring quality control, supplier credibility, and adaptability. Examples include airlines, hospitality, and banking services.

    Consumer Goods Classification

    • Consumer goods are for personal use, typically non-business-related, and can be perishable or durable.
    • Classified based on buying habits into:
      • Convenience Products: Frequently purchased with minimal effort (e.g., soft drinks, bread).
        • Staple Goods: Regularly purchased daily necessities.

    Reasons for New Product Failures

    • Lack of unique selling proposition can lead to failure as consumers need incentives to switch.
    • Poor product design can result in low-quality products that fail to attract repeat customers.
    • Established customer loyalty can hinder new product adoption; consumers often resist switching due to habit.

    Importance of Packaging

    • Packaging serves several purposes:
      • Protection: Safeguards products during transit and handling.
      • Visibility: Attractive packaging captures customer attention.
      • Added Value: Packaging can enhance usability and aesthetic appeal.
      • Distributor Acceptance: Must meet retailer storage requirements.
      • Cost: Represents a significant portion of selling price; smart design can reduce costs.
      • Reuse/Innovative Packaging: Encourages repeat purchases through reusable designs.
      • Ecological Packaging: Focuses on sustainability and reducing environmental impact.

    Labelling

    • Labelling is integral to marketing; it provides essential product information.
    • Helps consumers make informed choices regarding quality, features, and pricing.
    • Assists sellers in differentiating their products from competitors.

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    Description

    Test your knowledge on basic marketing concepts and terminologies related to products, branding, and differentiation. This quiz covers definitions and essential marketing principles critical for understanding market dynamics.

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