MBA 650 Exam 3 ACTUAL UPDATED QUESTIONS AND CORRECT ANSWERS
Anything that can be offered to a market to satisfy a want product
or need, including physical goods, services, experiences,
events, persons, places, properties, organizations,
information, and ideas (not tangible)
The marketer needs to address five product levels that customer value hierarchy
constitute a _________ _. At each level more customer
value is added.
Customer-Value Hierarchy: core benefit
The fundamental level is the ______ the service or
benefit the customer is really buying
Customer-Value Hierarchy: basic product
A the second level, the marketer must turn the core
benefit into a ______________
Customer-Value Hierarchy: expected product
At the third level, the marketer prepares an ____ , a set
of attributes and conditions buyers normally expect
when they purchase this product
Customer-Value Hierarchy: augmented product
A the fourth level, the marketer prepares an _____________
that exceeds customer expectations. In developed
countries, brand positioning and competition take place
at this level
Customer-Value Hierarchy: potential product
At the fifth level stands the ______ , with all the possible
augmentations and transformations the product or
offering might undergo in the future. Here companies
search for new ways to satisfy customers and distinguish
their offering.
____________ goods are tangible goods normally consumed nondurable
in one or a few uses, such as beer and shampoo.
______________ goods are tangible goods that normally durable
survive many uses: refrigerators, machine tools, and
clothing. They normally require more personal selling and
service, command a higher margin, and require more
seller guarantees.
, _____________ are intangible, inseparable, variable, and services
perishable products that normally require more quality
control, supplier credibility, and adaptability. Examples
include haircuts, legal advice, and appliance repairs.
_________ goods (such as soft drinks) that are purchased convenience
frequently, immediately, and with minimal effort
_________ goods (such as furniture) that consumers compare shopping
on such bases as suitability, quality, price, and style
_________ goods (such as cars) with unique characteristics or specialty
brand identification for which enough buyers are willing
to make a special purchasing effort
____________ goods (such as smoke detectors) that the unsought
consumer does not know about or normally think of
buying
____________ are goods that enter the manufacturer's product materials and parts
completely. Raw materials can be either farm products
(wheat) or natural products (iron ore). Manufactured
materials and parts fall into two categories: component
materials (wires) and component parts (small motors)
___________ are long-lasting goods that facilitate developing capital items
or managing the finished product, including installations
(factories) and equipment (tools).
__________________ are short-term goods and services that supplies and business services
facilitate developing or managing the finished product
Product Differentiation: form
Refers to the size, shape, or physical structure of a
product. (e.g., aspirin can be differentiated by dosage
size, shape, color, coating, or action time)
Product Differentiation: features
Most products can be offered with varying ______ that can
supplement its basic function.
Product Differentiation: performance quality
Is the level at which the product's primary characteristics
operate
Anything that can be offered to a market to satisfy a want product
or need, including physical goods, services, experiences,
events, persons, places, properties, organizations,
information, and ideas (not tangible)
The marketer needs to address five product levels that customer value hierarchy
constitute a _________ _. At each level more customer
value is added.
Customer-Value Hierarchy: core benefit
The fundamental level is the ______ the service or
benefit the customer is really buying
Customer-Value Hierarchy: basic product
A the second level, the marketer must turn the core
benefit into a ______________
Customer-Value Hierarchy: expected product
At the third level, the marketer prepares an ____ , a set
of attributes and conditions buyers normally expect
when they purchase this product
Customer-Value Hierarchy: augmented product
A the fourth level, the marketer prepares an _____________
that exceeds customer expectations. In developed
countries, brand positioning and competition take place
at this level
Customer-Value Hierarchy: potential product
At the fifth level stands the ______ , with all the possible
augmentations and transformations the product or
offering might undergo in the future. Here companies
search for new ways to satisfy customers and distinguish
their offering.
____________ goods are tangible goods normally consumed nondurable
in one or a few uses, such as beer and shampoo.
______________ goods are tangible goods that normally durable
survive many uses: refrigerators, machine tools, and
clothing. They normally require more personal selling and
service, command a higher margin, and require more
seller guarantees.
, _____________ are intangible, inseparable, variable, and services
perishable products that normally require more quality
control, supplier credibility, and adaptability. Examples
include haircuts, legal advice, and appliance repairs.
_________ goods (such as soft drinks) that are purchased convenience
frequently, immediately, and with minimal effort
_________ goods (such as furniture) that consumers compare shopping
on such bases as suitability, quality, price, and style
_________ goods (such as cars) with unique characteristics or specialty
brand identification for which enough buyers are willing
to make a special purchasing effort
____________ goods (such as smoke detectors) that the unsought
consumer does not know about or normally think of
buying
____________ are goods that enter the manufacturer's product materials and parts
completely. Raw materials can be either farm products
(wheat) or natural products (iron ore). Manufactured
materials and parts fall into two categories: component
materials (wires) and component parts (small motors)
___________ are long-lasting goods that facilitate developing capital items
or managing the finished product, including installations
(factories) and equipment (tools).
__________________ are short-term goods and services that supplies and business services
facilitate developing or managing the finished product
Product Differentiation: form
Refers to the size, shape, or physical structure of a
product. (e.g., aspirin can be differentiated by dosage
size, shape, color, coating, or action time)
Product Differentiation: features
Most products can be offered with varying ______ that can
supplement its basic function.
Product Differentiation: performance quality
Is the level at which the product's primary characteristics
operate
