BUSI 2204 FINAL EXAM WITH ALL
GRADED A+ SOLUTIONS
Product kvs kService k- kcorrect kanswers k-Product k- kanything kthat kcan kbe koffered
kto ka kmarket kfor kattention, kacquisition, kuse, kor kconsumption kthat kmight ksatisfy
ka kwant kor kneed. kService k- kactivity, kbenefit, kor ksatisfaction koffered kfor ksale; kit
kis kintangible kand kdoes knot kresult kin kownership kof kanything.
Three kLevels kof ka kProduct k- kcorrect kanswers k-Augmented kproduct k(warranty),
kActual kproduct k(brand kname), kCore kCustomer kValue k(ex. kApple kiPad, kbuying
kentertainment, kself-expression, kproductivity)
Consumer kproducts k- kcorrect kanswers k-bought kby kfinal kconsumers kfor kpersonal
kconsumption
Industrial kproducts k(b2b) k- kcorrect kanswers k-bought kby kindividuals kand
korganizations kfor kfurther kprocessing kor kuse kin kconducting ka kbusiness
Marketing kConsiderations kfor kConvenience kand kShopping kProducts k- kcorrect
kanswers k-Customer kBuying kBehaviour, kPrice, kDistribution, kPromotion.
kConvenience k(toothpaste), kShopping k(major kappliances, kfridge)
, Marketing kConsiderations kfor kSpecialty kand kUnsought kProducts k- kcorrect
kanswers k-Specialty: kLuxury kgoods, ksuch kas kRolex kwatches kor kfine kcrystal,
kstrong kbrand kpreference. kUnsought kproducts: kLife kinsurance kand kRed kCross
kblood kdonations, klittle kis kknown kabout kit.
Individual kProduct kDecisions k- kcorrect kanswers k-product kattributes, kbranding,
kpackaging, klabeling kand klogos, kproduct ksupport kservices
Product kLine k- kcorrect kanswers k-closely krelated kproducts kthat khave ksimilar
kfunctions kand kcustomer kgroups. kEx. kStarbucks, kcoffee, ktea, ksnacks
Product kMix k- kcorrect kanswers k-Toyota kcar kmodels kthat kare kbroken kdown kinto
kcategories klike ksuv, ktrucks, ketc. kIt kis klike ka kproduct kportfolio.
Product kwidth k- kcorrect kanswers k-Number kof kdifferent kproduct klines kthe
kcompany kcarries
Product kdepth k- kcorrect kanswers k-Number kof kversions koffered kfor keach
kproduct kin kthe kline
Brand kequity k- kcorrect kanswers k-differential keffect kthat kknowing kthe kbrand
kname khas kon kcustomer kresponse kto kthe kproduct kor kits kmarketing. kPositive
kbrand kequity, kconsumers kreact kmore kfavorably kto kthe kbrand kthan kto kan
kunbranded kversion kof kthe ksame kproduct.
Major kBrand kStrategy kDecisions k- kcorrect kanswers k-brand kpositioning k→ kbrand
kname kselection k→ kbrand ksponsorship k→ kbrand kdevelopment
Logos k- kcorrect kanswers k-Toronto kMaple kLeafs kand kLeafs kby kSnoop,
ktrademark, kcopy klogo
Brand ksponsorships k- kcorrect kanswers k-Brands kjoin kforces klike knike kand kapple
types kof kbrands k- kcorrect kanswers k-private kbranding k(presidents kchoice) kvs.
kpublic kbrands k(coca kcola)
Four kService kCharacteristics k- kcorrect kanswers k-Intangibility k(not kphysical),
kInseparability k(can't kbe kseparate kfrom kprovider), kVariability k(quality kdepends
kon kwho, kwhere, khow), kPerishability k(service kcan't kbe kstored kfor klater kuse).
kEx. kAirlines
* kMajor kStages kin kNew kProduct kDevelopment k- kcorrect kanswers k-Idea
kgeneration, kidea kscreening, kconcept kdevelopment kand ktesting, kmarketing
kstrategy kdevelopment, kbusiness kanalysis, kproduct kdevelopment, ktest kmarketing,
kcommercialization
Commercialization k- kcorrect kanswers k-develop konly kthe kbest kideas kinto
kprofitable kproducts
GRADED A+ SOLUTIONS
Product kvs kService k- kcorrect kanswers k-Product k- kanything kthat kcan kbe koffered
kto ka kmarket kfor kattention, kacquisition, kuse, kor kconsumption kthat kmight ksatisfy
ka kwant kor kneed. kService k- kactivity, kbenefit, kor ksatisfaction koffered kfor ksale; kit
kis kintangible kand kdoes knot kresult kin kownership kof kanything.
Three kLevels kof ka kProduct k- kcorrect kanswers k-Augmented kproduct k(warranty),
kActual kproduct k(brand kname), kCore kCustomer kValue k(ex. kApple kiPad, kbuying
kentertainment, kself-expression, kproductivity)
Consumer kproducts k- kcorrect kanswers k-bought kby kfinal kconsumers kfor kpersonal
kconsumption
Industrial kproducts k(b2b) k- kcorrect kanswers k-bought kby kindividuals kand
korganizations kfor kfurther kprocessing kor kuse kin kconducting ka kbusiness
Marketing kConsiderations kfor kConvenience kand kShopping kProducts k- kcorrect
kanswers k-Customer kBuying kBehaviour, kPrice, kDistribution, kPromotion.
kConvenience k(toothpaste), kShopping k(major kappliances, kfridge)
, Marketing kConsiderations kfor kSpecialty kand kUnsought kProducts k- kcorrect
kanswers k-Specialty: kLuxury kgoods, ksuch kas kRolex kwatches kor kfine kcrystal,
kstrong kbrand kpreference. kUnsought kproducts: kLife kinsurance kand kRed kCross
kblood kdonations, klittle kis kknown kabout kit.
Individual kProduct kDecisions k- kcorrect kanswers k-product kattributes, kbranding,
kpackaging, klabeling kand klogos, kproduct ksupport kservices
Product kLine k- kcorrect kanswers k-closely krelated kproducts kthat khave ksimilar
kfunctions kand kcustomer kgroups. kEx. kStarbucks, kcoffee, ktea, ksnacks
Product kMix k- kcorrect kanswers k-Toyota kcar kmodels kthat kare kbroken kdown kinto
kcategories klike ksuv, ktrucks, ketc. kIt kis klike ka kproduct kportfolio.
Product kwidth k- kcorrect kanswers k-Number kof kdifferent kproduct klines kthe
kcompany kcarries
Product kdepth k- kcorrect kanswers k-Number kof kversions koffered kfor keach
kproduct kin kthe kline
Brand kequity k- kcorrect kanswers k-differential keffect kthat kknowing kthe kbrand
kname khas kon kcustomer kresponse kto kthe kproduct kor kits kmarketing. kPositive
kbrand kequity, kconsumers kreact kmore kfavorably kto kthe kbrand kthan kto kan
kunbranded kversion kof kthe ksame kproduct.
Major kBrand kStrategy kDecisions k- kcorrect kanswers k-brand kpositioning k→ kbrand
kname kselection k→ kbrand ksponsorship k→ kbrand kdevelopment
Logos k- kcorrect kanswers k-Toronto kMaple kLeafs kand kLeafs kby kSnoop,
ktrademark, kcopy klogo
Brand ksponsorships k- kcorrect kanswers k-Brands kjoin kforces klike knike kand kapple
types kof kbrands k- kcorrect kanswers k-private kbranding k(presidents kchoice) kvs.
kpublic kbrands k(coca kcola)
Four kService kCharacteristics k- kcorrect kanswers k-Intangibility k(not kphysical),
kInseparability k(can't kbe kseparate kfrom kprovider), kVariability k(quality kdepends
kon kwho, kwhere, khow), kPerishability k(service kcan't kbe kstored kfor klater kuse).
kEx. kAirlines
* kMajor kStages kin kNew kProduct kDevelopment k- kcorrect kanswers k-Idea
kgeneration, kidea kscreening, kconcept kdevelopment kand ktesting, kmarketing
kstrategy kdevelopment, kbusiness kanalysis, kproduct kdevelopment, ktest kmarketing,
kcommercialization
Commercialization k- kcorrect kanswers k-develop konly kthe kbest kideas kinto
kprofitable kproducts
