MKTG 396 EXAM FULL QUESTIONS AND
CORRECT ANSWERS 2026 EXAM PREP WITH
SOLUTIONS GRADED A+
◍ service - an activity, benefit, or satisfaction offered for sale that is
essentially intangible and does not result in the ownership of anything
◍ Market Offerings - combination of products, services, information,
or experiences offered to a market to satisfy a need or want
◍ Marketing Mix - Product, Price, Place, Promotion
◍ pure tangible good - such as soap, toothpaste, or salt - no services
accompany the product
◍ pure services - the offer consists solely of service, credit cards for
example
◍ organization marketing - consists of activities undertaken to create,
maintain, or change the attitudes and behavior of target consumers
toward an organization
,◍ Person Marketing - consists of activities undertaken to create,
maintain, or change attitudes and behavior of target consumers toward
particular people
◍ place marketing - marketing efforts to attract people and
organizations to a particular geographical area
◍ idea marketing - a whole range of public and private organizations
market ideas that are meant to change how people think or act - ex.
Molson runs ads against drinking and driving
◍ Levels of Products and Services - 1. core customer value
2. actual product
3. augmented product
◍ core customer value - the basic problem solving benefits that
consumers are seeking ex. makeup to feel beautiful or phone to be
connected
◍ actual product - the physical attributes of a product including the
brand name, features/design, quality level, and packaging
◍ augmented product - the actual product plus other supporting
features such as a warranty, credit, delivery, installation, and repair
service after the sale
,◍ consumer products - products and services used by people for their
personal use
◍ convenience products - a consumer product that customers usually
buy frequently, immediately, and with a minimum of comparison and
buying effort ex. toilet paper
◍ shopping products - items for which the consumer compares
several alternatives on criteria such as price, quality, or style ex. cars,
major appliances
◍ specialty products - items with unique characteristics that buyers
are willing to expend considerable effort to obtain ex. cars, designer
clothes
◍ unsought products - a consumer product that the consumer either
does not know about or knows about but does not normally think of
buying ex. life insurance, funeral services
◍ Industrial Products - a product bought by individuals and
organizations for further processing or for use in conducting a
business
◍ 3 groups of industrial products and services - 1. materials and parts
2. capital items
3. supplies and services
, ◍ material and parts - raw materials and manufactured materials and
parts. Raw materials consist of farm products (wheat, cotton,
livestock, fruits, vegetables) and natural products (fish, lumber, crude
petroleum, iron ore). Manufactured materials and parts consist of
component materials (iron, yarn, cement, wires) and component parts
(small motors, tires, castings).
◍ capital items - industrial products that aid in the buyer's production
or operations ex, installation and accessory equipment, installations
consist of major purchases such a buildings and fixed equipment such
as elevators, generators. accessory equipment such as lift trucks and
hand tools, office equipment
◍ Supplies and services - include operating supplies, repair and
maintenance items, and business services
◍ firms can obtain new products in 2 ways - through acquisitions, and
through the firms new product development
◍ New Product Development - the development of original products,
product improvements, product modifications, and new brands
through the firm's own product development efforts
◍ diffusion of innovation - A social sciences theory that divides
members of a social group into segment according to how likely they
are to adopt a new idea
CORRECT ANSWERS 2026 EXAM PREP WITH
SOLUTIONS GRADED A+
◍ service - an activity, benefit, or satisfaction offered for sale that is
essentially intangible and does not result in the ownership of anything
◍ Market Offerings - combination of products, services, information,
or experiences offered to a market to satisfy a need or want
◍ Marketing Mix - Product, Price, Place, Promotion
◍ pure tangible good - such as soap, toothpaste, or salt - no services
accompany the product
◍ pure services - the offer consists solely of service, credit cards for
example
◍ organization marketing - consists of activities undertaken to create,
maintain, or change the attitudes and behavior of target consumers
toward an organization
,◍ Person Marketing - consists of activities undertaken to create,
maintain, or change attitudes and behavior of target consumers toward
particular people
◍ place marketing - marketing efforts to attract people and
organizations to a particular geographical area
◍ idea marketing - a whole range of public and private organizations
market ideas that are meant to change how people think or act - ex.
Molson runs ads against drinking and driving
◍ Levels of Products and Services - 1. core customer value
2. actual product
3. augmented product
◍ core customer value - the basic problem solving benefits that
consumers are seeking ex. makeup to feel beautiful or phone to be
connected
◍ actual product - the physical attributes of a product including the
brand name, features/design, quality level, and packaging
◍ augmented product - the actual product plus other supporting
features such as a warranty, credit, delivery, installation, and repair
service after the sale
,◍ consumer products - products and services used by people for their
personal use
◍ convenience products - a consumer product that customers usually
buy frequently, immediately, and with a minimum of comparison and
buying effort ex. toilet paper
◍ shopping products - items for which the consumer compares
several alternatives on criteria such as price, quality, or style ex. cars,
major appliances
◍ specialty products - items with unique characteristics that buyers
are willing to expend considerable effort to obtain ex. cars, designer
clothes
◍ unsought products - a consumer product that the consumer either
does not know about or knows about but does not normally think of
buying ex. life insurance, funeral services
◍ Industrial Products - a product bought by individuals and
organizations for further processing or for use in conducting a
business
◍ 3 groups of industrial products and services - 1. materials and parts
2. capital items
3. supplies and services
, ◍ material and parts - raw materials and manufactured materials and
parts. Raw materials consist of farm products (wheat, cotton,
livestock, fruits, vegetables) and natural products (fish, lumber, crude
petroleum, iron ore). Manufactured materials and parts consist of
component materials (iron, yarn, cement, wires) and component parts
(small motors, tires, castings).
◍ capital items - industrial products that aid in the buyer's production
or operations ex, installation and accessory equipment, installations
consist of major purchases such a buildings and fixed equipment such
as elevators, generators. accessory equipment such as lift trucks and
hand tools, office equipment
◍ Supplies and services - include operating supplies, repair and
maintenance items, and business services
◍ firms can obtain new products in 2 ways - through acquisitions, and
through the firms new product development
◍ New Product Development - the development of original products,
product improvements, product modifications, and new brands
through the firm's own product development efforts
◍ diffusion of innovation - A social sciences theory that divides
members of a social group into segment according to how likely they
are to adopt a new idea
