MKTG 396 Final Exam 2023 with correct answers

product Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need service an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything Market Offerings combination of products, services, information, or experiences offered to a market to satisfy a need or want Marketing Mix Product, Price, Place, Promotion pure tangible good such as soap, toothpaste, or salt - no services accompany the product pure services the offer consists solely of service, credit cards for example organization marketing consists of activities undertaken to create, maintain, or change the attitudes and behavior of target consumers toward an organization Person Marketing consists of activities undertaken to create, maintain, or change attitudes and behavior of target consumers toward particular people place marketing marketing efforts to attract people and organizations to a particular geographical area idea marketing a whole range of public and private organizations market ideas that are meant to change how people think or act - ex. Molson runs ads against drinking and driving Levels of Products and Services 1. core customer value 2. actual product 3. augmented product core customer value the basic problem solving benefits that consumers are seeking ex. makeup to feel beautiful or phone to be connected actual product the physical attributes of a product including the brand name, features/design, quality level, and packaging augmented product the actual product plus other supporting features such as a warranty, credit, delivery, installation, and repair service after the sale consumer products products and services used by people for their personal use