Principles of Marketing -
Exam 2 test questions and
answers(with diagrams)
Product
anything that can be offered in a market for attention, acquisition,
use, or consumption that might satisfy a need or want.
Services
are a form of product that consists of activities, benefits, or
satisfactions and that is essentially intangible and does not result in
the ownership of anything
Three Levels of Product
1. core customer value
2. actual product
3. augmented product
Organization Marketing
consists of activities undertaken to create, maintain, or change the
attitudes and behavior of target consumers toward an organization
Consumer Products
products and services used by people for their personal use
- Convenience Products - Candy, Fast Food
- Shopping Products - Furniture, Cars
- Specialty Products - Medical Services, Designer Clothes
- Unsought Products - Life Insurance, Funeral Services
Place Marketing
,consists of activities undertaken to create, maintain, or change
attitudes and behavior of target consumers toward particular places
Social Marketing
the use of commercial marketing concepts and tools in programs
designed to influence individuals' behavior to improve their well-
being and that of society
Brand
the name, term, sign, or design or a combination of these, that
identifies the maker or seller of a product or service.
- A classic stunt by former bargain footwear retailer Payless
dramatically illustrated the power of brands in shaping perceptions.
Fashion influencers paid as much as $645 for “Palessi” shoes that
normally sell for less than $40.
Product Line
a group of products that are closely related because they function in
a similar manner, are sold to the same customer groups, are
marketed through the same types of outlets, or fall within given
price ranges.
Services Marketing - Four Characteristics
intangibility, inseparability, variability, perishability
Three Types of Services Marketing
internal, external, interactive
Major Brand Strategy Decisions
, brand positioning, brand name selection, brand sponsorship, brand
development
Brand Development Strategies
line extension, brand extension, multibrands, new brands
Acquisition
refers to the buying of a whole company, a patent, or a license to
produce someone else's product.
Major Stages in New Product Development
1. Idea generation
2. Idea screening
3. Concept development and testing
4. Marketing strategy development
5. Business analysis
6. Product development
7. Test marketing
8. Commercialization
Crowdsourcing
inviting broad communities of people - customers, employees,
independent scientists and researchers, and even the public at
large - into the new product innovation process
Concept Developing and Testing
Exam 2 test questions and
answers(with diagrams)
Product
anything that can be offered in a market for attention, acquisition,
use, or consumption that might satisfy a need or want.
Services
are a form of product that consists of activities, benefits, or
satisfactions and that is essentially intangible and does not result in
the ownership of anything
Three Levels of Product
1. core customer value
2. actual product
3. augmented product
Organization Marketing
consists of activities undertaken to create, maintain, or change the
attitudes and behavior of target consumers toward an organization
Consumer Products
products and services used by people for their personal use
- Convenience Products - Candy, Fast Food
- Shopping Products - Furniture, Cars
- Specialty Products - Medical Services, Designer Clothes
- Unsought Products - Life Insurance, Funeral Services
Place Marketing
,consists of activities undertaken to create, maintain, or change
attitudes and behavior of target consumers toward particular places
Social Marketing
the use of commercial marketing concepts and tools in programs
designed to influence individuals' behavior to improve their well-
being and that of society
Brand
the name, term, sign, or design or a combination of these, that
identifies the maker or seller of a product or service.
- A classic stunt by former bargain footwear retailer Payless
dramatically illustrated the power of brands in shaping perceptions.
Fashion influencers paid as much as $645 for “Palessi” shoes that
normally sell for less than $40.
Product Line
a group of products that are closely related because they function in
a similar manner, are sold to the same customer groups, are
marketed through the same types of outlets, or fall within given
price ranges.
Services Marketing - Four Characteristics
intangibility, inseparability, variability, perishability
Three Types of Services Marketing
internal, external, interactive
Major Brand Strategy Decisions
, brand positioning, brand name selection, brand sponsorship, brand
development
Brand Development Strategies
line extension, brand extension, multibrands, new brands
Acquisition
refers to the buying of a whole company, a patent, or a license to
produce someone else's product.
Major Stages in New Product Development
1. Idea generation
2. Idea screening
3. Concept development and testing
4. Marketing strategy development
5. Business analysis
6. Product development
7. Test marketing
8. Commercialization
Crowdsourcing
inviting broad communities of people - customers, employees,
independent scientists and researchers, and even the public at
large - into the new product innovation process
Concept Developing and Testing
