Designing and managing Products - Quiz

1. Specialty products are

Standardized industrial goods

Low-involvement products

Unique items with strong brand preference and loyalty

Frequently purchased convenience goods

2. Product mix (or assortment) refers to

Product packaging variety

The price list of products

The set of all product lines offered by a company

The size of a single product line

3. The three levels of a product include

Core, actual, and augmented product

Durable, non-durable, and service product

Basic, standard, and deluxe product

Tangible, intangible, and promotional product

4. Shopping products are typically

Always low-priced

Compared on price, quality, and style before purchase

Purchased impulsively

Bought frequently and immediately

5. A product is best defined as

A physical item with packaging

Only a tangible good

A service with no physical form

Anything that can be offered to a market to satisfy a want or need

6. In Kotler’s classification, consumer products are categorized by

Durable, non-durable, and service products

Industrial, commercial, and luxury goods

Basic, enhanced, and digital goods

Convenience, shopping, specialty, and unsought goods

7. Convenience products are characterized by

Frequent purchase and low effort

Long decision-making time

Specialized buying effort

High involvement and comparison

8. Downward line stretching occurs when

A company launches premium versions

The product line is discontinued

A firm introduces lower-priced items

The company expands horizontally

9. Two-way line stretching means

Removing intermediate products

Expanding both upward and downward

Segmenting by demographics

Targeting only luxury markets

10. The actual product refers to

Brand name, design, and features of the product

Psychological value

Post-sale service

Consumer expectation

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