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MKTG 396 Final Exam questions and answers complete solution graded A+ 2024/2025
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MKTG 396 Final Exam questions and answers complete solution graded A+ 2024/2025
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MKTG 396 Final Examproduct
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
convenience products
a consumer product that customers usually buy frequently, immediately, and with a minimum of
comparison and buying effort ex. toilet paper
shopping products
items for which the consumer compares several alternatives on criteria such as price, quality, or style ex.
cars, major appliances
specialty products
items with unique characteristics that buyers are willing to expend considerable effort to obtain ex. cars,
designer clothes
unsought products
a consumer product that the consumer either does not know about or knows about but does not
normally think of buying ex. life insurance, funeral services
Industrial Products
a product bought by individuals and organizations for further processing or for use in conducting a
business
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