MARKETING MIX

Question 1

• Anything that is offered to a market for attention, acquisition, use or consumption that might satisfy a need or want.
  • Includes physical objects, services, persons, places, organizations and ideas. (Kotler 2008)

Answer 1

PRODUCT

Question 2

A set of tangible and intangible attributes, including packaging, color, price, quality and brand plus the seller’s reputation. (Stanton,1991)

Answer 2

PRODUCT

Question 3

CLASSIFICATION OF PRODUCTS

Answer 3

1. Durable goods
2. Non durable goods
3. Services
4. Consumer goods
5. Industrial goods

Question 4

consumer goods that are used over an extended period of time. (ex. Refrigerators,tv etc)

Answer 4

DURABLE GOODS

Question 5

consumer goods that are quickly consumed, worn out or outdated such as bath soap, sugar, hand sanitizer and toothpaste.

Answer 5

NON-DURABLE GOODS

Question 6

activities, tasks, benefits or satisfactions that are offered for a price, such as massage & limousine service.

Answer 6

SERVICES

Question 7

goods that are bought by household consumers for their own final consumption.

Answer 7

CONSUMER GOODS

Question 8

goods bought by business people for resale, for further processing or for use in producing other products.

Answer 8

INDUSTRIAL GOODS

Question 9

Those which the consumer already knows and buys with a minimum of comparison and buying effort.

Answer 9

CONVENIENCE GOODS

Question 10

Consumer goods for which consumers feel the need to compare, seek additional information, examine the product about its quality.

Answer 10

SHOPPING GOODS

Question 11

Consumers goods for which consumers have a strong brand preference and are willing to spend time and effort finding the brand.

Answer 11

SPECIALTY GOODS

Question 11

Consumer goods for which consumers feel the need to compare, seek additional information, examine the product about its quality.

Answer 11

SHOPPING GOODS

Question 12

Those which consumers are not yet aware of which they have no immediate need.
e.g. life insurance, memorial plans etc

Answer 12

UNSOUGHT GOODS

Question 13

are industrial goods that are processes to become part of another product.

Answer 13

RAW MATERIALS

Question 13

Those which consumers are not yet aware of which they have no immediate need.
e.g. life insurance, memorial plans etc

Answer 13

UNSOUGHT GOODS

Question 14

are major capital items for the manufacture of a final product.

Answer 14

INSTALLATIONS

Question 15

they do not become part of the finished product and their life is shorter than that of installations.
Ex. (copying machines & office desks)

Answer 15

ACCESSORY EQUIPMENT

Question 16

are low priced goods with short lifespan that help in the organization’s operation.

Answer 16

OPERATING SUPPLIES

Question 17

A group of products that are closely related intended for similar uses and having similar physical characteristics.

Answer 17

PRODUCT LINE

Question 18

The set of all product lines offered for sale, no matter how unrelated they may be.

Answer 18

PRODUCT MIX

Question 19

PRODUCT MIX STRATEGIES

Answer 19

• PRODUCT POSITIONING
  • PRODUCT MIX EXPANSION
  • TRADING UP & TRADING DOWN
  • PRODUCT ALTERTION
  • PRODUCT MIX CONTRACTION

Question 20

PRODUCT POSITIONING

Answer 20

1. Positioning in relation to a competitor
2. Positioning in relation to a product class
3. Positioning in relation to target market
4. Positioning by price & quality

Question 21

adding of similar item to an existing product line with the same brand name.
– increasing its product depth.

Answer 21

PRODUCT LINE EXTENSION

Question 22

adding a new product line – expanding of product width.

Answer 22

PRODUCT MIX EXTENSION

Question 23

adding a higher-priced product to a product line to attract a bigger number of consumer.

Answer 23

TRADING UP

Question 24

adding a low priced item to its line of prestigious products

Answer 24

TRADING DOWN

Question 25

Improvement of an existing product to give them a new appeal.

Answer 25

PRODUCT ALTERATION

Question 26

Simplifying the assortment within a product line or eliminating an entire product line.

Answer 26

PRODUCT MIX CONTRACTION

Question 27

A verbal part of the brand which consists of words, letters and numbers that can be uttered.

Answer 27

BRAND NAME

Question 28

The part of a brand that appears in the form of a symbol, a design, coloring or lettering. Cannot be uttered or vocalized.

Answer 28

BRAND MARK

Question 29

A brand that is given legal protection. A brand that is appropriated to one seller

Answer 29

TRADEMARK

Question 30

Characteristics of a good brand name

Answer 30

1. Suggestive of the product’s characteristics (benefits, use or action) 2. Easy to pronounce, spell and remember 3. Distinctive 4. Adaptable to new products that may be added to the product line. 5. Capable of being registered and legally protected

Question 31

Refers to all activities of designing and producing container or wrapper for a product.

Answer 31

PACKAGING