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COB 300 Marketing Final Exam
Strunk Questions and Answers
100% Pass
Product - ✔✔Anything that can be offered to a market for attention, acquisition, use, or consumption that
might satisfy a want or need
True or False: Products include physical objects but also services, events, persons, places, orgs, ideas or
mixtures of these entities - ✔✔True
True or false: The product and brand are usually the first and most basic marketing consideration -
✔✔True
Services - ✔✔an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not
result in the ownership of anything
(Ex: banking, hotel, airline travel, retail)
True or false: Because of their importance in the world economy, we give special attention to services -
✔✔True
3 levels of a product or service - ✔✔1. Core customer value
2. Actual product
X
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Lead Athor
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3. Augmented product
Three levels of a product - ✔✔
core customer value (what is the buyer really buying?) - ✔✔The core problem solving benefits that
consumers seek when they buy a product.
Actual product - ✔✔exists around the core and includes the quality level, features, design, brand name,
and packaging
augmented product - ✔✔The actual product plus the various services and benefits offered with it, such as
a warranty, free delivery, installation, and maintenance.
Pure tangible good - ✔✔such as soap, toothpaste, or salt - no services accompany the product
Pure services - ✔✔for which the market offer consists primarily of a service
Ex: a doctor's exam and financial services
True or False: As products/services become more commoditized, many companies are moving to new
level in creating value for their customers, which is to differentiate through creating and managing
customer experiences with their brand/org - ✔✔True
Products and services fall into two broad classes based on the types of consumers who use them; these
two categories are - ✔✔1. Consumer products
2. Industrial products
Consumer Products - ✔✔a product bought by final consumers for personal consumption
- Usually classified according to consumer shopping habits (convenience, shopping, specialty and
unsought products)
X
Emily Charlene
Lead Athor
©All Rights Reserved, 2025
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Marketing considerations for consumer products - ✔✔
Convenience Products - ✔✔a consumer product that customers usually buy frequently, immediately, and
with minimal comparison and buying effort
Ex: laundry detergent, fast food
Shopping Products - ✔✔a consumer product that the customer, in the process of selecting and
purchasing, usually compares on such attributes as suitability, quality, price, and style. Typically
distributed through fewer outlets, but provide deeper sales support to help customers in comparison
efforts
Ex: furniture, clothing, appliances, hotel services
Specialty Products - ✔✔A consumer products with unique characteristics or brand identification for
which a significant group of buyers is willing to make a special purchase effort.
Ex: designer clothes, luxury cars
Unsought Products - ✔✔a consumer product that the consumer either does not know about or knows
about but does not normally consider buying. Requires a lot of promotion and marketing efforts
Ex: life insurance, preplanned funeral services, blood donations
The one defining distinction between a consumer product and an industrial product is the - ✔✔purpose
for which the product is purchased
Industrial Products - ✔✔products purchased for further processing or for use in conducting a business
(includes materials/parts, capital items (installations and accessory equipment), and supplies)
X
Emily Charlene
Lead Athor
©All Rights Reserved, 2025
