INTRO TO MARKETING FINAL (SCHWARTZ,
RUTGERS) SPRING EXPECTED QUESTIONS WITH
VERIFIED ANSWERS
Question 1.
4 P's of Marketing
ANSWER
Product, Price, Place, Promotion
Question 2.
Product
ANSWER
Anything that can be offered to a market for attention, acquisition, use, or consumption that
might satisfy a want or need
Question 3.
3 levels of product
ANSWER
augmented product, actual product, core customer value
Question 4.
augmented product
ANSWER
the actual product plus other supporting features such as a warranty, credit, delivery,
installation, and repair service after the sale
,Question 5.
actual product
ANSWER
the physical attributes of a product including the brand name, features/design, quality level,
and packaging
Question 6.
core customer value
ANSWER
the basic problem solving benefits that consumers are seeking
Question 7.
4 types of consumer products
ANSWER
convenience, shopping, specialty, unsought
Question 8.
convenience
ANSWER
frequent purchases, little planning, little comparison or shopping effort, low customer
involvement
low price
mass promotion
e.g. toothpaste
,Question 9.
shopping
ANSWER
less frequent purchase; much planning and shopping effort; comparison of brands on price,
quality, and style
higher price
advertising and personal selling by producer and reseller
e.g. televisions
Question 10.
specialty
ANSWER
Strong brand preference and loyalty; special purchase effort; little comparison of brands; low
price sensitivity
high price
carefully targeted promotion by producer and reseller
e.g. Rolex watch
Question 11.
Unsought
ANSWER
little product awareness or knowledge, if aware little interest is present
varied price
aggressive advertising and personal selling by producer and reseller
e.g. blood donations
, Question 12.
product line
ANSWER
a group of products that are closely related because they function in a similar manner, are
sold to the same customer groups, are marketed through the same types of outlets, or fall
within given price ranges
Question 13.
product line stretching
ANSWER
making new products for upper or lower class users
Question 14.
product line filling
ANSWER
adding more items within the product range to get more profits, fill missing items, use
excess capacity, keep out competition
Question 15.
product mix
ANSWER
the set of all product lines and items that a particular seller offers for sale
Question 16.
product mix width
ANSWER
the number of product lines a company offers
RUTGERS) SPRING EXPECTED QUESTIONS WITH
VERIFIED ANSWERS
Question 1.
4 P's of Marketing
ANSWER
Product, Price, Place, Promotion
Question 2.
Product
ANSWER
Anything that can be offered to a market for attention, acquisition, use, or consumption that
might satisfy a want or need
Question 3.
3 levels of product
ANSWER
augmented product, actual product, core customer value
Question 4.
augmented product
ANSWER
the actual product plus other supporting features such as a warranty, credit, delivery,
installation, and repair service after the sale
,Question 5.
actual product
ANSWER
the physical attributes of a product including the brand name, features/design, quality level,
and packaging
Question 6.
core customer value
ANSWER
the basic problem solving benefits that consumers are seeking
Question 7.
4 types of consumer products
ANSWER
convenience, shopping, specialty, unsought
Question 8.
convenience
ANSWER
frequent purchases, little planning, little comparison or shopping effort, low customer
involvement
low price
mass promotion
e.g. toothpaste
,Question 9.
shopping
ANSWER
less frequent purchase; much planning and shopping effort; comparison of brands on price,
quality, and style
higher price
advertising and personal selling by producer and reseller
e.g. televisions
Question 10.
specialty
ANSWER
Strong brand preference and loyalty; special purchase effort; little comparison of brands; low
price sensitivity
high price
carefully targeted promotion by producer and reseller
e.g. Rolex watch
Question 11.
Unsought
ANSWER
little product awareness or knowledge, if aware little interest is present
varied price
aggressive advertising and personal selling by producer and reseller
e.g. blood donations
, Question 12.
product line
ANSWER
a group of products that are closely related because they function in a similar manner, are
sold to the same customer groups, are marketed through the same types of outlets, or fall
within given price ranges
Question 13.
product line stretching
ANSWER
making new products for upper or lower class users
Question 14.
product line filling
ANSWER
adding more items within the product range to get more profits, fill missing items, use
excess capacity, keep out competition
Question 15.
product mix
ANSWER
the set of all product lines and items that a particular seller offers for sale
Question 16.
product mix width
ANSWER
the number of product lines a company offers
