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Marketing Fundamentals: Product Concept

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Questions and Answers

What is the primary characteristic of durability that distinguishes consumable goods from durable goods?

The length of time they provide benefits (correct)

Their price range

The level of convenience they offer

The type of market they are sold in

What is a product in the context of marketing?

Anything that can be offered in a market for attention, acquisition, use or consumption (correct)

Only physical goods that can be bought or sold

Only products that satisfy a want but not a need

Intangible goods or services only

What is the primary characteristic of shopping goods that distinguishes them from convenience goods?

Their level of durability

Their frequency of purchase

Their price range

The amount of information search and evaluation required prior to purchase (correct)

What is the core benefit of a product?

The fundamental need or want that customers want to satisfy upon buying the product Signup and view all the answers

What is the primary characteristic of intangible products such as services?

Their tangibility Signup and view all the answers

What is the primary factor to consider when setting a price for a product or service?

The costs involved in producing or rendering the product or service Signup and view all the answers

What type of goods are purchased for personal consumption?

Consumer Goods Signup and view all the answers

What are products that have identical physical characteristics that would be difficult to distinguish once purchased from one vendor to another?

Undifferentiated Goods Signup and view all the answers

What is the primary goal of customer service in terms of product experience?

To create a positive impression of the brand Signup and view all the answers

What is an augmented product?

Any product variations, extra features, or service that help differentiate the product Signup and view all the answers