Marketing exam 2 (10,11,13,14) 2024/2025 with 100% complete answers
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Module
Ma2
Institution
Ma2
How do we classify goods? correct answersDurability, type of user
What are the two types of durability and explain them correct answersNondurable- does not last for many uses
Durable- lasts many uses and for a while
What are the four types of consumer products? correct answers1- Convenien...
How do we classify goods? correct answersDurability, type of user
What are the two types of durability and explain them correct answersNondurable- does not last for
many uses
Durable- lasts many uses and for a while
What are the four types of consumer products? correct answers1- Convenience
2- Shopping
3- Specialty
4- Unsought
Describe what an unsought product is correct answersA product that is not too popular in demand or are
not known about (Example: Burial insurance)
Describe what the difference is between a convenience and shopping product correct answersShopping-
prices and quality are compared (Cameras. TVs)
Convenience- routine purchases, little thought (Toothpaste, toilet paper)
What are the six bases of comparison? correct answers1- Product
2- Price
3- Place
4- Promotion
5- Brand loyalty of consumers
6- Purchase behavior of consumers
, A specific product that has a unique brand, size, or price is known as a what? correct answersProduct
item
A group of product items that are closely related because are known as a? correct answersProduct line
Describe what a product mix is correct answersconsists of all product lines offered by an organization.
Product line extension deals with what? correct answersExpanding on the existing product line and
adding more products to it
What is brand extension? correct answersWhen a company uses their brand name to introduce a new
product into a new market
True or False?
Honda creating and selling a lawn mower is an example of brand extension correct answersTrue
What are the seven steps in the new product development process? correct answers1- New product
strategy development
2- Idea generation
3- Screening and evaluation
4- Business analysis
5- Development
6- Market testing
7- Commercialization
What are the four stages of the product life cycle? correct answers1- Introduction
2- Growth
3- Maturity
4- Decline
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