Ch 10 Quiz (UT)

What are the four product classification types?

• Convenience, shopping, specialty, unsought

• Basic, advanced, premium, luxury

• Essential, non-essential, luxury, budget

• Primary, secondary, tertiary, quaternary

Which of the following can be considered a tangible product?

• A service

• An idea

• A pair of shoes

• A brand reputation

What is a characteristic of a convenience product?

• Requires extensive planning before purchase

• Usually bought without much planning

• Often requires a personal consultation

• Typically has a high price point

What is a shopping product?

• A product that requires comparison shopping and is usually more expensive than a convenience product

• A product that is purchased frequently and with minimal effort

• A product that is used for personal grooming

• A product that is typically found in every store

What is a speciality product?

• A particular item for which consumers search extensively and are very reluctant to accept substitutes

• A product that is widely available and easily substituted

• A product that is purchased frequently with minimal effort

• A product that is used for a limited time and then discarded

What is an unsought product?

• A product actively sought by consumers

• A product unknown to the potential buyer or not actively sought

• A product that is always advertised

• A product that is only sold online

What does a product line consist of?

• A single product item

• A group of closely related product items

• All products that an organization sells

• A collection of unrelated products

What is a product mix?

• A single product item

• A group of closely related product items

• All products that an organization sells

• A specific version of a product

Why do firms increase the depth of their product lines?

• To reduce production costs

• To attract buyers with different preferences

• To decrease market segmentation

• To limit seasonal sales patterns

What is a product line extension?

• Removing products from an existing product line

• Adding additional products to an existing product line

• Reducing the price of products in a line

• Changing the packaging of products in a line