Marketing Mix Module 4: Product Attributes and Satisfaction

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According to Kotler, how does he define a product?

Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need

How does Quelch describe a product?

A product is a total package of attributes the customers obtains when making a purchase

What is the difference between goods and services?

Goods are tangible items that can be touched or held, while services are essentially intangible and do not result in the ownership of anything

Why is product classification necessary for a student of marketing?

Buying motives differ from buyer to buyer, and marketing situation and problems vary depending upon the category of a product

What are the four classifications of consumer products?

Convenience product, shopping product, specialty products, and unsought products

Give an example of a convenience product.

Milk, bread, newspapers

What are specialty products and give an example?

Expensive products that customers take time in planning and purchasing. Example: An antique car, a Mont Blanc pen

Define unsought products and provide an example.

Products purchased during uncertainties or problems. Example: An umbrella, repair services

What is a product mix?

A set of all the products offered for sale by a company

Explain what a product line is.

A group of closely related products that function in a similar manner, sold to the same customer groups and marketed through the same types of outlets, or fall within given price ranges

Match the following definitions with their corresponding terms:

Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need = Product Acts, deeds, performances and efforts = Services Articles, devices, objects or things; tangible items that can be touched or held = Goods A bundle of satisfaction that a customer buys; people buy satisfaction not objects = Product

Match the following categories with their appropriate sub-classifications:

Consumer products = Unsought products

Match the following terms with their appropriate descriptions:

Durable/Non durable = Not consumed over a long period of time Goods = Tangible items that can be touched or held Services = Essentially intangible and do not result in the ownership of anything

Match the following product classification terms with their appropriate categories:

Durable/Non durable = Business Products Consumer products = Shopping product

Match the following product classification terms with their appropriate descriptions:

Classification is necessary for a student of marketing because buying motives differ from buyer to buyer. = Business Products Marketing situation and problems vary depending upon the category of a product. = Shopping product

Match the following product classifications with their examples:

Convenience Products = Milk Shopping Products = Washing machines Specialty Products = Mont Blanc pen Unsought Products = Insurance policies

Match the following consumer products with their characteristics:

Convenience Products = Staple goods and impulse goods Shopping Products = Relatively costly and require time for purchase Specialty Products = Expensive and require planning for purchase Unsought Products = Purchased during uncertainties or problems

Match the following business products with their categories:

Major Equipment = Mainframe computers Accessory Equipment = Fax machines Raw Material = Natural resources and agricultural products Component Parts and Materials = Textiles, paper pulp, and chemicals

Match the following product mix terms with their definitions:

Product Mix = Set of all products offered for sale by a company Product Line = Series of related products marketed through similar outlets or price ranges

Match the following product line terms with their descriptions:

Product Line = Series of related products like shampoos under a single brand

This quiz covers the concept of products in marketing, including definitions by Kotler and Quelch, the difference between goods and services, and the idea that customers buy satisfaction, not just objects.

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