Marketing Exam 10/16- – Flashcards
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a product refers to.. A) a tangible good received in exchange for a person's time and effort B) intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value C) a good that has in some way been altered, combined, or improved and sold to organizational buyers D)
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a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value
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A good service or idea
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Product
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A good has tangible attributes that a consumer's __________ can perceive five senses
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Goods can be divided into __________ goods and __________ goods durable; nondurable
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A nondurable good is defined as a(n) item consumed in one or a few uses.
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Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as __________ Services
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In marketing, an idea is a thought that leads to a product or action
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Products that are purchased by the ultimate consumer are referred to as __________ consumer products
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business products refer to products
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Items for which the consumer compares several alternatives on several criteria such as price, quality, or style are referred to as __________ shopping products
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In terms of price, which of the following type of consumer product would most likely be relatively inexpensive?
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convenience product
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Business products are also referred to as __________
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industrial products
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In terms of promotion, which of the following types of consumer products stress status and brand uniqueness?
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specialty product
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Gatorade is classified as a __________ brand
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global
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A concept that describes the stages a product goes through in the marketplace—introduction, growth, maturity, and decline—is referred to as the __________
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product life cycle
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What is the marketing objective for the decline stage of the product life cycle?
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harvesting
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The initial purchase of a product by a consumer is referred to as a(n) _________
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trial
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The preference for a specific brand is called __________ demand
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selective
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The __________ stage of the product life cycle is characterized by the slowing of total industry sales or product class revenue, causing marginal competitors to begin leaving the market
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maturity
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When a company retains a product but reduces marketing costs, it is referred to as __________
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harvesting
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The __________ stage of the product life cycle is characterized by rapid increases in sales
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growth
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The white apple with a bite taken out of it that appears on every Apple product is an example of a __________
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logotype
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Which of the following occurs during the decline stage of the product life cycle? Sales decrease substantially.
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Multiproduct branding refers to a branding strategy __________ in which a company uses one name for all its products in a product class
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Prestige pricing is considered to be a __________ approach to pricing
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demand- oriented
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Which of the following is a multiproduct branding strategy?
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product line extensions
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The practice of exchanging products and services for other products and services rather than for money is referred to as __________
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Barter
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The use of "special fees" and "surcharges" is driven by consumers' zeal for __________ and the ease of making price comparisons on the Internet
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low prices
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The ratio of __________ to price is referred to as value perceived benefits
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Penetration pricing is considered to be a __________ approach to pricing demand-oriented
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