Marketing MKT 300 Module 5 Study Guide and Practice Questions
3 Levels of a Product - ANS✔✔ Core - Actual Product - Augmented Product
Core - ANS✔✔ The need that a product fulfills ie: a car provides transportation
Actual Product - ANS✔✔ Must have for the product to function (Product design, Packaging,
Attributes) ie: tires, steering wheel, engine
Augmented Product - ANS✔✔ Anything that adds to the experience of the product. Not
required for the product to work, but it enhances the experience ie: AC, Sunroof, Radio
Types of Consumer Products - ANS✔✔ Convenience Product - Specialty Product - Shopping
Product - Unsought Product
Convenience Product - ANS✔✔ Inexpensive product that merits little shopping effort. Ie: Water
Bottles, 7 eleven stuff
Shopping Product - ANS✔✔ A product that requires comparison shopping. Usually more
expensive and found in fewer stores. HDTV's
Specialty Product - ANS✔✔ Items that consumers search extensively for and are reluctant to
accept substitutes. Luxury sports cars like Ferrari.
Unsought Product - ANS✔✔ A product unknown to the potential buyer or a known product that
the buyer does not actively seek. IE: Vacuum Cleaner
Product Mix Width - ANS✔✔ To widen product mix, add a new product line to portfolio (Honda
adding the Truck line.)
, Product Line Depth - ANS✔✔ Add another product to existing product line (deepening.)
Eliminate product from product line (shortening.)
Product Line - ANS✔✔ Set of lines that a company produces in order to solve a similar problem
for consumers. Honda Lawnmower - Honda Trucks, Honda Cars
Product Mix - ANS✔✔ Entire collection of product lines a company sells
Product Extensions - ANS✔✔ Line and Brand Extensions
Line Extension - ANS✔✔ Deepening product line. NEW AND IMPROVED!! (New flavor of Coke to
it's soda line.)
Brand Extensions - ANS✔✔ When a company moves into a brand new product category that
they were not previously competing in. (Apple's first Iphone.)
Innovation Continuum - ANS✔✔ Discontinuous (HIGH) Dynamically Continuous (Moderate)
Continuous (Low)
Discontinuous - ANS✔✔ Product Inventions. Did not continue from another product.
(Phonograph, 1st Computer, Telephone.)
Dynamically Continuous, Created a new product category or version evolved from previous
versions. First laptop derived from desktop pc. Stereo derived from phonograph
Continuous - ANS✔✔ Adds features or improvements to a product category. (Cell Phone -> Cell
phone with digital Camera.)
3 Levels of a Product - ANS✔✔ Core - Actual Product - Augmented Product
Core - ANS✔✔ The need that a product fulfills ie: a car provides transportation
Actual Product - ANS✔✔ Must have for the product to function (Product design, Packaging,
Attributes) ie: tires, steering wheel, engine
Augmented Product - ANS✔✔ Anything that adds to the experience of the product. Not
required for the product to work, but it enhances the experience ie: AC, Sunroof, Radio
Types of Consumer Products - ANS✔✔ Convenience Product - Specialty Product - Shopping
Product - Unsought Product
Convenience Product - ANS✔✔ Inexpensive product that merits little shopping effort. Ie: Water
Bottles, 7 eleven stuff
Shopping Product - ANS✔✔ A product that requires comparison shopping. Usually more
expensive and found in fewer stores. HDTV's
Specialty Product - ANS✔✔ Items that consumers search extensively for and are reluctant to
accept substitutes. Luxury sports cars like Ferrari.
Unsought Product - ANS✔✔ A product unknown to the potential buyer or a known product that
the buyer does not actively seek. IE: Vacuum Cleaner
Product Mix Width - ANS✔✔ To widen product mix, add a new product line to portfolio (Honda
adding the Truck line.)
, Product Line Depth - ANS✔✔ Add another product to existing product line (deepening.)
Eliminate product from product line (shortening.)
Product Line - ANS✔✔ Set of lines that a company produces in order to solve a similar problem
for consumers. Honda Lawnmower - Honda Trucks, Honda Cars
Product Mix - ANS✔✔ Entire collection of product lines a company sells
Product Extensions - ANS✔✔ Line and Brand Extensions
Line Extension - ANS✔✔ Deepening product line. NEW AND IMPROVED!! (New flavor of Coke to
it's soda line.)
Brand Extensions - ANS✔✔ When a company moves into a brand new product category that
they were not previously competing in. (Apple's first Iphone.)
Innovation Continuum - ANS✔✔ Discontinuous (HIGH) Dynamically Continuous (Moderate)
Continuous (Low)
Discontinuous - ANS✔✔ Product Inventions. Did not continue from another product.
(Phonograph, 1st Computer, Telephone.)
Dynamically Continuous, Created a new product category or version evolved from previous
versions. First laptop derived from desktop pc. Stereo derived from phonograph
Continuous - ANS✔✔ Adds features or improvements to a product category. (Cell Phone -> Cell
phone with digital Camera.)
