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Buad 332 Exam 2 Chapter 7 questions with correct answers
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Buad 332 Exam 2 Chapter 7 questions with correct answers
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Buad 332 Exam 2 Chapter 7Which of the following is the correct definition of a product? - correct answer ✔✔A product is anything
that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want
or need.
Which of the following correctly describes the classifications into which products and services fall? -
correct answer ✔✔Consumer products and industrial products
Broadly defined, a product is anything that can be offered to a market for ___________, or consumption
that might satisfy a want or need. Products include not only physical objects, but also services, events,
persons, places, organizations, ideas, or mixtures of these entities. - correct answer ✔✔attention,
acquisition, use
Consumer products are products and services bought by final consumers for personal consumption.
Consumer product classifications include _______________, and unsought products. - correct answer
✔✔convenience, shopping, specialty
Charles Revson of Revlon once said, "In the factory we make cosmetics; in the store we sell hope." Which
product level is Revson referring to? - correct answer ✔✔Core customer value
The distinction between a consumer product and an industrial product is based on the ________ for
which the product is purchased. - correct answer ✔✔purpose
Marketers must make important decisions when developing individual products and services. Which of
the following correctly identifies those important decisions? - correct answer ✔✔Product attributes,
branding, packaging, labeling, and product support services
The totality of a company's product lines and items offered to customers is known as its
_________________. - correct answer ✔✔product mix
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