GB 350 Exam 3 Ole Miss Cascio
Questions with Verified Answers
consumer product - ANSWER-a product bought to satisfy an individuals personal
wants
Types of consumer product purchases: - ANSWER--convenience
-shopping
-specialty
-unsought
convenience - ANSWER-inexpensive items that merit little shopping effort
Ex: routine decisions (gas stations placed on side of roads and highways)
shopping - ANSWER-require comparison shopping
Ex: limited decision making (comparing different stoves at different stores, similar
characteristics)
speciality - ANSWER-particular items for which consumers search extensively and
are reluctant to accept substitutes
Ex: highest level of effort (luxury African safari, do extensive research, very important
to them)
unsought - ANSWER-products (a) unknown to the potential buyer or (b) known
products that the buyer does not actively seek
Ex: Life insurance ( dont like thinking about this but good to have
HIV test (good for health)
Vaccines (need it but dont want to deal with it)
product items - ANSWER-specific versions of a product that can be designated as a
distinct offering among an organizations products
Ex: crest toothpaste
product lines - ANSWER-groups of closely related product items
Ex: Crest pro health with scope, crest pro health advance
product mixes - ANSWER-all products that an organization sells
, Ex: all crest products
product mix width (or breadth) - ANSWER-refers to the number of product lines an
organization offers
Ex: Toothpaste + Mouthwash + Whitestrips = 3
product line depth - ANSWER-the number of product items in a product line
Ex: Crest also makes toothpaste for kids, Disney, fun flavors
equivalent quality - ANSWER-line items perceived as having similar quality
Ex: Insomnia cookies, deluxe flavors
advertising economies - ANSWER-spread cost of promotion for multiple items
Ex: Jimmy Johns, ad specifically focused on advertising their little sandwiches
standardized components - ANSWER-product lines allow firms to standardize
components, thus reducing manufacturing and inventory costs
efficient sales and distribution - ANSWER-enables a targeted range of choices to
customers, which results in better distribution and retail coverage
Ex: TRULY doesn't offer all flavors at certain locations
product modification adjustments - ANSWER--functional
-quality
-style
functional - ANSWER-change the way product is used
Ex: Starbucks stops selling hard newspapers, offers free access to digital
subscription news sites
Ex: Kroger standardized "Use By & Best if Used By" labels on private label products
Ex: Amazon passcode payment
quality - ANSWER-change durability, dependability or overall quality of the
experience
Ex: Madden NFL 20 looks a lot like the real thing if you're not paying close attention
Ex: Johnson & Johnson removing toxic ingredients in baby wash
Ex: Trix cereal returns to artificial colors after customer backlash against natural
ones
Questions with Verified Answers
consumer product - ANSWER-a product bought to satisfy an individuals personal
wants
Types of consumer product purchases: - ANSWER--convenience
-shopping
-specialty
-unsought
convenience - ANSWER-inexpensive items that merit little shopping effort
Ex: routine decisions (gas stations placed on side of roads and highways)
shopping - ANSWER-require comparison shopping
Ex: limited decision making (comparing different stoves at different stores, similar
characteristics)
speciality - ANSWER-particular items for which consumers search extensively and
are reluctant to accept substitutes
Ex: highest level of effort (luxury African safari, do extensive research, very important
to them)
unsought - ANSWER-products (a) unknown to the potential buyer or (b) known
products that the buyer does not actively seek
Ex: Life insurance ( dont like thinking about this but good to have
HIV test (good for health)
Vaccines (need it but dont want to deal with it)
product items - ANSWER-specific versions of a product that can be designated as a
distinct offering among an organizations products
Ex: crest toothpaste
product lines - ANSWER-groups of closely related product items
Ex: Crest pro health with scope, crest pro health advance
product mixes - ANSWER-all products that an organization sells
, Ex: all crest products
product mix width (or breadth) - ANSWER-refers to the number of product lines an
organization offers
Ex: Toothpaste + Mouthwash + Whitestrips = 3
product line depth - ANSWER-the number of product items in a product line
Ex: Crest also makes toothpaste for kids, Disney, fun flavors
equivalent quality - ANSWER-line items perceived as having similar quality
Ex: Insomnia cookies, deluxe flavors
advertising economies - ANSWER-spread cost of promotion for multiple items
Ex: Jimmy Johns, ad specifically focused on advertising their little sandwiches
standardized components - ANSWER-product lines allow firms to standardize
components, thus reducing manufacturing and inventory costs
efficient sales and distribution - ANSWER-enables a targeted range of choices to
customers, which results in better distribution and retail coverage
Ex: TRULY doesn't offer all flavors at certain locations
product modification adjustments - ANSWER--functional
-quality
-style
functional - ANSWER-change the way product is used
Ex: Starbucks stops selling hard newspapers, offers free access to digital
subscription news sites
Ex: Kroger standardized "Use By & Best if Used By" labels on private label products
Ex: Amazon passcode payment
quality - ANSWER-change durability, dependability or overall quality of the
experience
Ex: Madden NFL 20 looks a lot like the real thing if you're not paying close attention
Ex: Johnson & Johnson removing toxic ingredients in baby wash
Ex: Trix cereal returns to artificial colors after customer backlash against natural
ones
