MAR 3023 Exam 3 review (latest update) questions
well answered to pass
1. Examples of
Goods Boeing
Compa- nies John Deer
Expanding IBM
into Services
Otis
SAP
Cisc
o
Koda
k GE
2. Company
You Should
Know: -- 50% of their revenue or more comes from
*Newell
service a consumer product conglomerate
Brands*
3. What is a (based in Atlanta)
Prod- uct? -owns Sharpie, Expo, Paper Mate, Contigo, Crock Pot, Yankee Candle, Grac
etc.
a product is a good, service, or idea (or combination of two or more of
these)
-includes supporting services, installations, guarantees, warranties
*product ecosystem with the product itself*
4. Products Defined *goods*: a tangible, physical entity
EX: clothing, cell phone
*services*: an intangible, result of application of human mechanical ettorts
to people or objects (hybrids)
EX: Dr. Brady's lectures
1/
77
,MAR 3023 Exam 3 review (latest update) questions
well answered to pass
*ideas*: concept, philosophy, image or issue
5. Product Types *consumer products*: purchased to satisfy personal and family needs an
are
classified according to how buyers generally behave when purchasing
them
*~ convenience products* - relatively inexpensive, frequent; also where
branding becomes really important
2/
77
,MAR 3023 Exam 3 review (latest update) questions
well answered to pass
EX: most people don't variety seek their toothpaste or variety seek their
soda -- we believe in one brand we like and we stick with it because of that
cognitive miser ettect
*~ shopping products* - more ettort in planning/purchasing
EX: these are appliances or sometimes things like motorcycles where
you're thinking quite a bit about this particular product but not to the
extent of specialty products
*~ specialty products* - unique characteristics (tends to be expensive and a
lot of times are luxury items)
EX: Rolex watches and Michael Kors handbags
*~ unsought products* - these are products that no one
seeks out EX: car repair, tow truck, emergency room,
plumber
-- we (marketers) should aim to convert unsought goods to sought goods
*business products*: purchased to use for operations, to resell, or to
use in manufacturing of other products
- most products produced in the U.S. are for other businesses
-- installations
-- business services (consulting, legal, e-verify, janitorial, software)
-- raw materials
-- component parts
-- MO supplies (maintenance, repair, operations)
6. Managing
Exist- ing tend to be really extensive with targeting ditterent types of consumers with
Products
ditterent product lines
7. Product Hier-
archy *core products*: the physical or intangible service that the customer receiv
(Product -generic product or service
Classifications
)
*branded products*: the core products plus the characteristics that allow
3/
77
,MAR 3023 Exam 3 review (latest update) questions
well answered to pass
the consumer to
ditterentiate it from
similar products
-packaging, styling, quality,
brand name
4/
77
well answered to pass
1. Examples of
Goods Boeing
Compa- nies John Deer
Expanding IBM
into Services
Otis
SAP
Cisc
o
Koda
k GE
2. Company
You Should
Know: -- 50% of their revenue or more comes from
*Newell
service a consumer product conglomerate
Brands*
3. What is a (based in Atlanta)
Prod- uct? -owns Sharpie, Expo, Paper Mate, Contigo, Crock Pot, Yankee Candle, Grac
etc.
a product is a good, service, or idea (or combination of two or more of
these)
-includes supporting services, installations, guarantees, warranties
*product ecosystem with the product itself*
4. Products Defined *goods*: a tangible, physical entity
EX: clothing, cell phone
*services*: an intangible, result of application of human mechanical ettorts
to people or objects (hybrids)
EX: Dr. Brady's lectures
1/
77
,MAR 3023 Exam 3 review (latest update) questions
well answered to pass
*ideas*: concept, philosophy, image or issue
5. Product Types *consumer products*: purchased to satisfy personal and family needs an
are
classified according to how buyers generally behave when purchasing
them
*~ convenience products* - relatively inexpensive, frequent; also where
branding becomes really important
2/
77
,MAR 3023 Exam 3 review (latest update) questions
well answered to pass
EX: most people don't variety seek their toothpaste or variety seek their
soda -- we believe in one brand we like and we stick with it because of that
cognitive miser ettect
*~ shopping products* - more ettort in planning/purchasing
EX: these are appliances or sometimes things like motorcycles where
you're thinking quite a bit about this particular product but not to the
extent of specialty products
*~ specialty products* - unique characteristics (tends to be expensive and a
lot of times are luxury items)
EX: Rolex watches and Michael Kors handbags
*~ unsought products* - these are products that no one
seeks out EX: car repair, tow truck, emergency room,
plumber
-- we (marketers) should aim to convert unsought goods to sought goods
*business products*: purchased to use for operations, to resell, or to
use in manufacturing of other products
- most products produced in the U.S. are for other businesses
-- installations
-- business services (consulting, legal, e-verify, janitorial, software)
-- raw materials
-- component parts
-- MO supplies (maintenance, repair, operations)
6. Managing
Exist- ing tend to be really extensive with targeting ditterent types of consumers with
Products
ditterent product lines
7. Product Hier-
archy *core products*: the physical or intangible service that the customer receiv
(Product -generic product or service
Classifications
)
*branded products*: the core products plus the characteristics that allow
3/
77
,MAR 3023 Exam 3 review (latest update) questions
well answered to pass
the consumer to
ditterentiate it from
similar products
-packaging, styling, quality,
brand name
4/
77
