Marketing Product Concepts: Ch10 Lamb

What is a product?

• Something that a person sells in an exchange

• Something that a person buys in an exchange

• Something that a person receives in an exchange

• Something that a person gives in an exchange

Which type of product is bought to satisfy an individual’s personal wants or needs?

• Consumer product

• Shopping product

• Convenience product

• Business product

What is a convenience product?

• A relatively expensive item that requires extensive shopping effort

• A particular item for which consumers search extensively

• A relatively inexpensive item that merits little shopping effort

• A product that requires comparison shopping

What is a shopping product?

• A particular item for which consumers search extensively

• A relatively expensive item that requires extensive shopping effort

• A relatively inexpensive item that merits little shopping effort

• A product that requires comparison shopping

What is a specialty product?

• A product unknown to the potential buyer

• A product that requires comparison shopping

• A particular item for which consumers search extensively

• A relatively inexpensive item that merits little shopping effort

What is an unsought product?

• A particular item for which consumers search extensively

• A product that requires comparison shopping

• A relatively inexpensive item that merits little shopping effort

• A product unknown to the potential buyer

What is a product line?

• A change in a product’s dependability or durability

• All products that an organization sells

• A group of closely related product items

• A specific version of a product

What is the product mix?

• A change in a product’s dependability or durability

• A group of closely related product items

• A specific version of a product

• All products that an organization sells

What is the product mix width?

• The value of a company or brand name

• The number of product items in a product line

• The number of product lines an organization offers

• The exclusive right to use a brand or part of a brand

What is product line depth?

• The number of product lines an organization offers

• The number of product items in a product line

• The value of a company or brand name

• The exclusive right to use a brand or part of a brand