MAR3023 FSU HOPKINS EXAM 3
QUESTIONS AND ANSWERS 100% PASS
2026/2027
Product - ANS a good, service, or idea- includes installations, guarantees, warranties.
Good - ANS a tangible, physical entity (iPod).
Service - ANS intangible, result of application of human/mechanical efforts to people or
objects (concert, oil change).
Idea - ANS concept, philosophy, image, or issue ("MADD": Mothers Against Drunk Driving).
Consumer Products - ANS satisfy personal/family needs and are classified by buyer behavior
when purchasing them.
Convenience Product - ANS not highest quality, inexpensive, frequently purchased product
for which buyers exert minimal purchasing effort.
Shopping Product - ANS items for which buyers are willing to exert effort in
planning/purchasing (luggage).
Specialty Product - ANS items with unique characteristics that buyers are willing to expend
considerable effort to get (car).
@2026 ALLRIGHTS RESERVED 1
, Unsought Product - ANS product purchased to solve a sudden problem, people do not
necessarily think of buying these products (we should aim to convert unsought goods to sought
goods).
Business Products - ANS purchased to use for operations, to resell, or for manufacturing of
other product.
Business Services - ANS intangible products that many organizations use in their operations.
Core Product - ANS physical/intangible service that the customer receives (generic product).
Branded Product - ANS core product plus the characteristics that allow customers to
differentiate it from other products (packaging, quality).
Augmented Product - ANS characteristics that enhance value beyond that of the
core/branded product (warranty).
Marketing Myopia - ANS businesses do better if they focus on meeting customer needs vs.
selling the product.
Product Mix - ANS everything a company sells (Coca-Cola makes many other drinks).
Product Line - ANS closely related products in a brand (Oreo flavors: red velvet, mint, vanilla,
halloween, etc.)
Depth - ANS the number of different products offered in each product line (Excedrin- 8
different types).
Breadth - ANS number of different lines that a company markets (Kellogg makes cereal,
crackers, granola bars, etc.).
@2026 ALLRIGHTS RESERVED 2
QUESTIONS AND ANSWERS 100% PASS
2026/2027
Product - ANS a good, service, or idea- includes installations, guarantees, warranties.
Good - ANS a tangible, physical entity (iPod).
Service - ANS intangible, result of application of human/mechanical efforts to people or
objects (concert, oil change).
Idea - ANS concept, philosophy, image, or issue ("MADD": Mothers Against Drunk Driving).
Consumer Products - ANS satisfy personal/family needs and are classified by buyer behavior
when purchasing them.
Convenience Product - ANS not highest quality, inexpensive, frequently purchased product
for which buyers exert minimal purchasing effort.
Shopping Product - ANS items for which buyers are willing to exert effort in
planning/purchasing (luggage).
Specialty Product - ANS items with unique characteristics that buyers are willing to expend
considerable effort to get (car).
@2026 ALLRIGHTS RESERVED 1
, Unsought Product - ANS product purchased to solve a sudden problem, people do not
necessarily think of buying these products (we should aim to convert unsought goods to sought
goods).
Business Products - ANS purchased to use for operations, to resell, or for manufacturing of
other product.
Business Services - ANS intangible products that many organizations use in their operations.
Core Product - ANS physical/intangible service that the customer receives (generic product).
Branded Product - ANS core product plus the characteristics that allow customers to
differentiate it from other products (packaging, quality).
Augmented Product - ANS characteristics that enhance value beyond that of the
core/branded product (warranty).
Marketing Myopia - ANS businesses do better if they focus on meeting customer needs vs.
selling the product.
Product Mix - ANS everything a company sells (Coca-Cola makes many other drinks).
Product Line - ANS closely related products in a brand (Oreo flavors: red velvet, mint, vanilla,
halloween, etc.)
Depth - ANS the number of different products offered in each product line (Excedrin- 8
different types).
Breadth - ANS number of different lines that a company markets (Kellogg makes cereal,
crackers, granola bars, etc.).
@2026 ALLRIGHTS RESERVED 2
