Product Strategy: Understanding Product Levels
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Product Strategy: Understanding Product Levels

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Questions and Answers

What is a product?

  • Only services and experiences
  • Only physical goods
  • Only information and ideas
  • Anything that satisfies a want or need (correct)

    • At which product level is the fundamental benefit or service sought by the customer represented?

  • Core Benefit (correct)
  • Augmented Product
  • Basic Product
  • Expected Product

    • Which product level involves providing additional features and benefits beyond customer expectations?

  • Core Benefit
  • Augmented Product (correct)
  • Basic Product
  • Expected Product

    • What is the potential product level focused on?

    <p>Exceeding customer expectations</p> Signup and view all the answers

    Which of the following is an example of a durable good?

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

    Which product classification scheme includes products with a short lifespan and those that do not have physical attributes?

    <p>Nondurable goods</p> Signup and view all the answers

    What type of goods are soft drinks, soaps, and newspapers considered?

    <p>Convenience goods</p> Signup and view all the answers

    Which category of convenience goods includes goods that are purchased on a regular basis?

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

    What type of goods are chocolates, candies, and potato chips classified as?

    <p>Impulse goods</p> Signup and view all the answers

    Which category of shopping goods involves more time and effort in the decision-making process?

    <p>Heterogeneous shopping goods</p> Signup and view all the answers

    What do we call goods that possess unique characteristics or qualities that make them stand out from other products in the market?

    <p>Specialty goods</p> Signup and view all the answers

    Which category of industrial goods is used in the production process to create finished goods or products?

    <p>Material and parts goods</p> Signup and view all the answers

    What are basic substances in their natural state that are used in the manufacturing process to create finished goods called?

    <p>Raw materials</p> Signup and view all the answers

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