Marketing Chapter 8
1. Name and describe the types of consumer products and give an example of each. How does the marketing differ for each product type? (AACSB: Communication; Reflective Thinking)
There have 5 types:
Convenience products: A consumer product that customers usually buy frequently, immediately, and with minimal comparision and buying effort. Ex: Cazines and candy, magazines and fast good.
Shopping products: A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitability, quality, price and style. Ex: Furniture, clothing or cars.
Specialty products: A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. Ex: Designer clothes, Lamborghini or gourmet foods.
Unsought products: A consumer product that the consumer either does not know about or known about but does not normaily consider buying. Ex: Insurance and blood donation.
2. Compare and contrast industrial products and consumer products. (AACSB: Communication; Reflective Thinking)
Consumer products is a product bought by final consumers for personal consumption
Industrial product is a product bought by individuals and organizations for further processing or for use in conducting a business.
3. Explain the importance of product quality and discuss how marketers use quality to create customer value. (AACSB:Communication)
Product quality is the characteristics of a product of service that bear on its ability to satisfy stated or implied customer needs.
Quantity affects product or service performance, thus it is closely linked to customer value and satisfaction.
4. What is a brand? How does branding help both buyers and sellers? (AACSB: Communication)
Brand is a name, term, sign, symbol or design or a combination of these, that identifies the products or services of 1 seller of group of sellers and differentiates them from those of
There have 5 types:
Convenience products: A consumer product that customers usually buy frequently, immediately, and with minimal comparision and buying effort. Ex: Cazines and candy, magazines and fast good.
Shopping products: A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitability, quality, price and style. Ex: Furniture, clothing or cars.
Specialty products: A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. Ex: Designer clothes, Lamborghini or gourmet foods.
Unsought products: A consumer product that the consumer either does not know about or known about but does not normaily consider buying. Ex: Insurance and blood donation.
2. Compare and contrast industrial products and consumer products. (AACSB: Communication; Reflective Thinking)
Consumer products is a product bought by final consumers for personal consumption
Industrial product is a product bought by individuals and organizations for further processing or for use in conducting a business.
3. Explain the importance of product quality and discuss how marketers use quality to create customer value. (AACSB:Communication)
Product quality is the characteristics of a product of service that bear on its ability to satisfy stated or implied customer needs.
Quantity affects product or service performance, thus it is closely linked to customer value and satisfaction.
4. What is a brand? How does branding help both buyers and sellers? (AACSB: Communication)
Brand is a name, term, sign, symbol or design or a combination of these, that identifies the products or services of 1 seller of group of sellers and differentiates them from those of