MKTG 301 EXAM QUESTIONS AND
ANSWERS ALL CORRECT
What is positioning in marketing? - Answer- The place a product occupies in the
consumer's mind relative to competing products.
What is a positioning statement? - Answer- A statement that summarizes company or
brand positioning, often structured to highlight the target segment, need, brand,
concept, and point of difference.
What are the three levels of product in the Total Product Concept? - Answer- Core
benefit/value, actual product, augmented product
What is the core customer value in the Total Product Concept? - Answer- The
fundamental benefit or value that the customer seeks from the product.
What does the actual product include? - Answer- Brand name, features, design, quality
level, packaging.
What is included in the augmented product? - Answer- Support, service, warranty,
delivery.
What are convenience products? - Answer- Products bought frequently, immediately,
with low customer involvement, such as laundry detergent and soft drinks.
How do shopping products differ from convenience products? - Answer- Shopping
products are less frequently purchased and involve more comparison on suitability,
quality, price, and style.
What are specialty products? - Answer- Products with unique characteristics for which
buyers are willing to make a special purchase effort, like high-end cars.
What are unsought products? - Answer- Products that consumers do not know about or
do not normally consider buying.
What are industrial products? - Answer- Products bought to process other products,
such as a lawnmower for a landscaping business.
ANSWERS ALL CORRECT
What is positioning in marketing? - Answer- The place a product occupies in the
consumer's mind relative to competing products.
What is a positioning statement? - Answer- A statement that summarizes company or
brand positioning, often structured to highlight the target segment, need, brand,
concept, and point of difference.
What are the three levels of product in the Total Product Concept? - Answer- Core
benefit/value, actual product, augmented product
What is the core customer value in the Total Product Concept? - Answer- The
fundamental benefit or value that the customer seeks from the product.
What does the actual product include? - Answer- Brand name, features, design, quality
level, packaging.
What is included in the augmented product? - Answer- Support, service, warranty,
delivery.
What are convenience products? - Answer- Products bought frequently, immediately,
with low customer involvement, such as laundry detergent and soft drinks.
How do shopping products differ from convenience products? - Answer- Shopping
products are less frequently purchased and involve more comparison on suitability,
quality, price, and style.
What are specialty products? - Answer- Products with unique characteristics for which
buyers are willing to make a special purchase effort, like high-end cars.
What are unsought products? - Answer- Products that consumers do not know about or
do not normally consider buying.
What are industrial products? - Answer- Products bought to process other products,
such as a lawnmower for a landscaping business.
