MKTG 201 Final Exam 2025/2026 Exam
Questions and Answers | A+ Score
Assured
What is a Product? - 🧠 ANSWER ✔✔anything that is of VALUE to a
consumer and might satisfy a WANT or NEED thru MARKET EXCHANGE
2 main types of product - 🧠 ANSWER ✔✔physical objects (goods) and
services
other types of product - 🧠 ANSWER ✔✔organization, ppl, places, ideas
what is a service - 🧠 ANSWER ✔✔intangible activity that satisfies
consumer or business user needs
services can not be _________ - 🧠 ANSWER ✔✔inventoried
Services are ____ and _______ at the same time - 🧠 ANSWER
✔✔produced and consumed
,Good-services continuum - 🧠 ANSWER ✔✔when u get a good at a service
(dinner at an exclusive restaurant)
Complexities of Products/Associated Services - 🧠 ANSWER ✔✔brand
name, quality level, packaging, features/design, financing, product
warranty, product support/ all core customer value
Types of Consumer Product - 🧠 ANSWER ✔✔convenience product,
shopping product, specialty product, unsought product
What is a convenience product? - 🧠 ANSWER ✔✔Frequent purchase, little
planning/buying effort, low price (toothpaste, tide)
What is a shopping product? - 🧠 ANSWER ✔✔Less frequent purchase,
much planning/buying effort, higher price (technology, clothing)
what is a specialty product? - 🧠 ANSWER ✔✔strong brand
preference/loyalty, special purchase effort, high price (iPhone)
what is unsought product? - 🧠 ANSWER ✔✔little product
awareness/knowledge (ex insurance)
what type of product is a TV? - 🧠 ANSWER ✔✔shopping
what type of product is a funeral service? - 🧠 ANSWER ✔✔unsought
, what type of product is a BMW - 🧠 ANSWER ✔✔specialty
what is a brand - 🧠 ANSWER ✔✔a
name/term/sign/symbol/design/combination of these that identify the maker
or seller of a product/service
what is brand equity - 🧠 ANSWER ✔✔$ amount attributed to the value of
the brand, based on intangible qualities that create that value, added value
a brand gives to a product beyond the functional benefits provided
valuable brand examples - 🧠 ANSWER ✔✔apple, google, coke, microsoft,
toyota, IBM, samsung, amazon, mercedes, HE
value of branding - 🧠 ANSWER ✔✔facilitate purchase, establish loyalty,
protect from competition, assets
brand ownership - 🧠 ANSWER ✔✔manufacturer/national brands vs
retailer/private-label brands
drivers of purchase decision - 🧠 ANSWER ✔✔price, quality perception,
experience/knowledge, urgency of need, loyalty, reward programs, location
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
Questions and Answers | A+ Score
Assured
What is a Product? - 🧠 ANSWER ✔✔anything that is of VALUE to a
consumer and might satisfy a WANT or NEED thru MARKET EXCHANGE
2 main types of product - 🧠 ANSWER ✔✔physical objects (goods) and
services
other types of product - 🧠 ANSWER ✔✔organization, ppl, places, ideas
what is a service - 🧠 ANSWER ✔✔intangible activity that satisfies
consumer or business user needs
services can not be _________ - 🧠 ANSWER ✔✔inventoried
Services are ____ and _______ at the same time - 🧠 ANSWER
✔✔produced and consumed
,Good-services continuum - 🧠 ANSWER ✔✔when u get a good at a service
(dinner at an exclusive restaurant)
Complexities of Products/Associated Services - 🧠 ANSWER ✔✔brand
name, quality level, packaging, features/design, financing, product
warranty, product support/ all core customer value
Types of Consumer Product - 🧠 ANSWER ✔✔convenience product,
shopping product, specialty product, unsought product
What is a convenience product? - 🧠 ANSWER ✔✔Frequent purchase, little
planning/buying effort, low price (toothpaste, tide)
What is a shopping product? - 🧠 ANSWER ✔✔Less frequent purchase,
much planning/buying effort, higher price (technology, clothing)
what is a specialty product? - 🧠 ANSWER ✔✔strong brand
preference/loyalty, special purchase effort, high price (iPhone)
what is unsought product? - 🧠 ANSWER ✔✔little product
awareness/knowledge (ex insurance)
what type of product is a TV? - 🧠 ANSWER ✔✔shopping
what type of product is a funeral service? - 🧠 ANSWER ✔✔unsought
, what type of product is a BMW - 🧠 ANSWER ✔✔specialty
what is a brand - 🧠 ANSWER ✔✔a
name/term/sign/symbol/design/combination of these that identify the maker
or seller of a product/service
what is brand equity - 🧠 ANSWER ✔✔$ amount attributed to the value of
the brand, based on intangible qualities that create that value, added value
a brand gives to a product beyond the functional benefits provided
valuable brand examples - 🧠 ANSWER ✔✔apple, google, coke, microsoft,
toyota, IBM, samsung, amazon, mercedes, HE
value of branding - 🧠 ANSWER ✔✔facilitate purchase, establish loyalty,
protect from competition, assets
brand ownership - 🧠 ANSWER ✔✔manufacturer/national brands vs
retailer/private-label brands
drivers of purchase decision - 🧠 ANSWER ✔✔price, quality perception,
experience/knowledge, urgency of need, loyalty, reward programs, location
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
