Podcast
Questions and Answers
Which of the following best describes an augmented product?
Which of the following best describes an augmented product?
- A product's core benefits that satisfy basic needs.
- The potential future improvements and transformations a product might undergo.
- Variations, extra features, or services that distinguish a product from competitors. (correct)
- A product's essential components, guaranteeing its functionality.
A hotel offers chocolates on one visit and luxury water on the next visit for returning guests. This is an example of:
A hotel offers chocolates on one visit and luxury water on the next visit for returning guests. This is an example of:
- An undifferentiated service.
- Potential product implementation. (correct)
- A core product strategy.
- A basic product offering.
When classifying products by durability, what are the three main categories?
When classifying products by durability, what are the three main categories?
- Consumer, industrial, and specialty.
- Differentiated, undifferentiated, and augmented.
- Convenience, shopping, and unsought.
- Consumables, semi-durables, and durables. (correct)
Differentiated and undifferentiated products are classifications based on what?
Differentiated and undifferentiated products are classifications based on what?
Which product classification focuses on how long a product is expected to last?
Which product classification focuses on how long a product is expected to last?
Which of these goods is most likely classified under 'Industrial Goods'?
Which of these goods is most likely classified under 'Industrial Goods'?
A company continually improving a product to surprise customers is focusing on what aspect of product development?
A company continually improving a product to surprise customers is focusing on what aspect of product development?
Which of the following is an example of augmenting a product to differentiate it from competitors?
Which of the following is an example of augmenting a product to differentiate it from competitors?
Products that are purchased for personal or household use are generally classified as:
Products that are purchased for personal or household use are generally classified as:
A concierge service included with a hotel stay represents which type of product?
A concierge service included with a hotel stay represents which type of product?
A product is offered for sale primarily to:
A product is offered for sale primarily to:
Which of the following product classifications includes items like convenience goods, shopping goods, specialty goods, and unsought goods?
Which of the following product classifications includes items like convenience goods, shopping goods, specialty goods, and unsought goods?
Which of the following is the best example of a 'potential product' for a smartphone?
Which of the following is the best example of a 'potential product' for a smartphone?
What is the primary goal of augmenting a product?
What is the primary goal of augmenting a product?
Which type of product is purchased more frequently?
Which type of product is purchased more frequently?
When classifying products, 'use' refers to whether the product is a:
When classifying products, 'use' refers to whether the product is a:
What is a key characteristic of an 'unsought good'?
What is a key characteristic of an 'unsought good'?
Luxury cars would be classified under which type of product?
Luxury cars would be classified under which type of product?
A washing machine is typically classified as what kind of good, based on its durability?
A washing machine is typically classified as what kind of good, based on its durability?
How can product augmentation benefit a company?
How can product augmentation benefit a company?
Flashcards
Potential Product
Potential Product
All augmentations and transformations a product might undergo in the future.
Augmented Product
Augmented Product
Variations, extra features, or services that differentiate a product.
Product
Product
Items sold to satisfy wants or needs, also classified by use, differentiation, etc.
Consumer goods
Consumer goods
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Industrial goods
Industrial goods
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Undifferentiated products
Undifferentiated products
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Differentiated products
Differentiated products
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Consumables
Consumables
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Semi-Durables
Semi-Durables
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Durables
Durables
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Convenience goods
Convenience goods
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Shopping goods
Shopping goods
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Specialty goods
Specialty goods
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Unsought goods
Unsought goods
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Study Notes
- A product is anything offered for sale to satisfy a want or need.
- Product classifications are made on the basis of customer characteristics
Augmented Product
- Includes product variations, extra features, or services that differentiate a product from competitors.
- Example: a hotel including a concierge service or a free map of the town in every room
Potential Product
- Includes all augmentations and transformations a product might undergo in the future.
- Products must be augmented to continue to surprise and delight customers.
- Example: hotels placing different gifts in the room each time a customer stays (e.g., chocolates or luxury water)
Classification of Marketed Products:
- Use
- Consumer goods
- Industrial goods
- Differentiation
- Undifferentiated
- Differentiated
- Durability
- Consumables
- Semi-Durables
- Durables
- Type
- Convenience goods
- Shopping goods
- Specialty goods
- Unsought goods
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