Principles of Marketing

What is a product?

• Experiences

• Physical goods

• Something you buy

• Anything offered to a market to fulfill a customer's need or want

What does the product decision involve?

• Setting prices for products

• Deciding on packaging materials

• Creating a distinct brand identity

• Making choices and plans about what kind of product to offer

What is a product line?

• A product's outer box

• A group of unrelated products

• A single product offered by a company

• A group of related products under a common brand or category

What does the product mix refer to?

• A company's unique name

• The product's ingredients

• A single product offered by a company

• The entire range of products a company offers to its customers

What is branding in marketing?

• A unique recipe for a product

• A product's physical appearance

• The process of manufacturing a product

• Creating a distinct identity for a product through elements like a unique name and logo

What does packaging refer to?

• The unique name for a product

• Information on a product's packaging

• The process of labeling a product

• The container or wrapper that holds a product

What is labeling on a product's packaging?

• The product's logo

• The pricing information

• The ingredients of the product

• Information, symbols, or graphics providing details like ingredients and usage instructions

What are support services?

• Extra packaging materials

• Information on a product's labeling

• Additional products offered to customers

• Additional services or assistance provided to customers alongside the product

What does inseparability refer to in services?

• The consistency of services

• The variety of services offered

• The physical separation of products

• The connection between service providers and customers during service delivery

How do services typically vary?

• They have a fixed price

• They are always tangible

• They are always consistent

• The quality and consistency can vary from one encounter to another