COB 300D - Marketing - Exam 2
Key Terms (Chapter 11-13, 19-20)
100% Correct
good - CORRECT ANSWER-tangible physical entity
service - CORRECT ANSWER-an intangible result of the application of human
and mechanical efforts to people or objects
idea - CORRECT ANSWER-a concept, philosophy, image, or issue
consumer products - CORRECT ANSWER-products bought to satisfy personal
and family needs
business products - CORRECT ANSWER-products bought to use in a firm's
operations, to resell, or to make other products
convenience products - CORRECT ANSWER-relatively inexpensive, frequently
purchased items for which buyers exert minimal purchasing effort
shopping products - CORRECT ANSWER-items for which buyers are willing to
expend considerable effort in planning and making purchases
,specialty products - CORRECT ANSWER-possess one or more unique
characteristics and buyers are willing to expend considerable effort to obtain them
unsought products - CORRECT ANSWER-those purchased when a sudden
problem must be solved, products of which customers are unaware until they see
them in a store or online, and products that people do not plan on purchasing
installations - CORRECT ANSWER-facilities such as office buildings, factories,
warehouses, and major nonportable equipment such as production lines and very
large machines
accessory equipment - CORRECT ANSWER-does not become part of the final
physical product but is used in production or office activities
raw materials - CORRECT ANSWER-basic natural materials that become part of
a physical product
component parts - CORRECT ANSWER-become part of the physical product
and are either finished items ready for assembly or products that need little
processing before assembly
process materials - CORRECT ANSWER-materials that are used directly in the
production of other products but are not readily identifiable
MRO supplies - CORRECT ANSWER-maintenance, repair, and operating items
that facilitate production and operations but do not become part of the finished
product
COPYRIGHT ALL RIGHTS RESERVED ©️ 2025
, business services - CORRECT ANSWER-intangible products that many
organizations use in their operations
product item - CORRECT ANSWER-a specific version of a product that can be
designated as a distinct offering among an organization's products
product line - CORRECT ANSWER-a group of closely related product items that
are considered to be a unit because of marketing, technical, or end-use
considerations
product mix - CORRECT ANSWER-the composite, or total, group of products
that an organization makes available to customers
width of product mix - CORRECT ANSWER-measured by number of product
lines a company offers
depth of product mix - CORRECT ANSWER-the average number of different
products offered in each product line
product life cycle - CORRECT ANSWER-introduction, growth, maturity, decline
that have different strategies regarding competition, pricing, distribution,
promotion, and market information for each stage
introduction stage - CORRECT ANSWER-the PLC stage in which a new product
is first distributed and made available for purchase
growth stage - CORRECT ANSWER-the PLC stage in which a product's sales
start climbing quickly
Key Terms (Chapter 11-13, 19-20)
100% Correct
good - CORRECT ANSWER-tangible physical entity
service - CORRECT ANSWER-an intangible result of the application of human
and mechanical efforts to people or objects
idea - CORRECT ANSWER-a concept, philosophy, image, or issue
consumer products - CORRECT ANSWER-products bought to satisfy personal
and family needs
business products - CORRECT ANSWER-products bought to use in a firm's
operations, to resell, or to make other products
convenience products - CORRECT ANSWER-relatively inexpensive, frequently
purchased items for which buyers exert minimal purchasing effort
shopping products - CORRECT ANSWER-items for which buyers are willing to
expend considerable effort in planning and making purchases
,specialty products - CORRECT ANSWER-possess one or more unique
characteristics and buyers are willing to expend considerable effort to obtain them
unsought products - CORRECT ANSWER-those purchased when a sudden
problem must be solved, products of which customers are unaware until they see
them in a store or online, and products that people do not plan on purchasing
installations - CORRECT ANSWER-facilities such as office buildings, factories,
warehouses, and major nonportable equipment such as production lines and very
large machines
accessory equipment - CORRECT ANSWER-does not become part of the final
physical product but is used in production or office activities
raw materials - CORRECT ANSWER-basic natural materials that become part of
a physical product
component parts - CORRECT ANSWER-become part of the physical product
and are either finished items ready for assembly or products that need little
processing before assembly
process materials - CORRECT ANSWER-materials that are used directly in the
production of other products but are not readily identifiable
MRO supplies - CORRECT ANSWER-maintenance, repair, and operating items
that facilitate production and operations but do not become part of the finished
product
COPYRIGHT ALL RIGHTS RESERVED ©️ 2025
, business services - CORRECT ANSWER-intangible products that many
organizations use in their operations
product item - CORRECT ANSWER-a specific version of a product that can be
designated as a distinct offering among an organization's products
product line - CORRECT ANSWER-a group of closely related product items that
are considered to be a unit because of marketing, technical, or end-use
considerations
product mix - CORRECT ANSWER-the composite, or total, group of products
that an organization makes available to customers
width of product mix - CORRECT ANSWER-measured by number of product
lines a company offers
depth of product mix - CORRECT ANSWER-the average number of different
products offered in each product line
product life cycle - CORRECT ANSWER-introduction, growth, maturity, decline
that have different strategies regarding competition, pricing, distribution,
promotion, and market information for each stage
introduction stage - CORRECT ANSWER-the PLC stage in which a new product
is first distributed and made available for purchase
growth stage - CORRECT ANSWER-the PLC stage in which a product's sales
start climbing quickly
