Marketing 3101 Final Exam Review Guaranteed A+
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
...
Marketing 3101 Final Exam Review Guaranteed A+
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 Offering ✔️A mix of goods and services available to the target market to bring value to
customers and build profitable relationships.
Pure Tangible Good ✔️No services accompany this products (soap, toothpaste, or salt).
Pure Services ✔️The market offer consists of only services (doctor's exams and financial services).
Three Levels of a Product ✔️1) Core Customer Value: What is the customer actually buying? (more than
just the physical product, the value).
2) Actual Product: Developing the physical product. (Features, design, packaging, quality level, & brand
name).
3) Augmented Product: Additional customer benefits added to the product. (After-sale service,
warranty, product support, delivery and credit)
Person Marketing ✔️Activities undertaken to create, maintain, or change attitudes or behavior toward
particular people.
Place Marketing ✔️Activities undertaken to create, maintain, or change attitudes or behavior toward
particular places.
Social Marketing ✔️The use of commercial marketing concepts and tools in programs designed to
influence individuals behavior to improve their well-being and that of society.
, Product Quality ✔️The characteristics of a product or service that bear on its ability to satisfy stated or
implied customer needs.
Total Quality Management (TQM) ✔️An approach in which all of the company's people are involved in
constantly improving the quality of products, services, and business processes.
Return-on-Quality approach ✔️The approach of viewing quality as an investment and holding quality
efforts accountable for bottom-line results.
Brand ✔️A name, term, sign, symbol, or design, or a combination of these, that identifies the products
or services of one seller or group of sellers and differentiates them from those of competitors.
Packaging ✔️The activities of designing and producing the container or wrapper for a product.
Label ✔️Identifies the product or brand.
Product Line ✔️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.
Product Mix (or Product Portfolio) ✔️The set of all product lines and items that a particular seller offers
for sale.
Service Intangibility ✔️Services cannot be seen, tasted, felt, heard, or smelled before they are bought.
Service Inseparability ✔️Services are produced and consumed at the same time and cannot be
separated from their providers.
Service Variability ✔️The quality of services may vary greatly depending on who provides them and
when, where, and how they are provided.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller CertifiedGrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
