Product Basics
Anything offered to a market that can satisfy a consumer’s need or want.
What is a product?
Products consumers purchase frequently, quickly, and with minimal comparison or shopping effort.
What are convenience products?
A name, term, sign, symbol, design, or combination used to identify a seller’s products.
What is a brand?
The four major stages are introduction, growth, maturity, and this final stage.
What is decline?
This planet is the largest in our solar system.
What is Jupiter?
A smartphone, a haircut, and a concert ticket can all be considered this in marketing.
What are products?
Consumers typically compare price, quality, and style before buying this type of product.
What are shopping products?
The added value a recognized brand name gives a product is known as this.
What is brand equity?
During this first stage, sales are typically relatively low because the product has just entered the market.
What is the introduction stage?
This is the only U.S. state whose name ends with the letter K.
What is New York?
The fundamental benefit or problem-solving service a consumer is really purchasing.
What is the core customer value?
A luxury sports car or high-end designer handbag may fall into this product category because consumers are willing to make a special purchase effort.
What are specialty products?
Kirkland Signature at Costco is an example of this type of brand.
What is a private/store brand?
During this stage, sales generally increase rapidly as more consumers accept the product.
What is the growth stage?
This popular tabletop game features properties such as Boardwalk and Park Place.
What is Monopoly?
Brand name, features, design, packaging, and quality are typically associated with this level of a product.
What is the actual product?
Life insurance and funeral services are classic examples of products consumers may not normally think about buying.
What are unsought products?
This product decision performs practical functions such as protecting the item while also helping attract consumers.
What is packaging?
Competition is often intense and sales growth slows during this stage.
What is the maturity stage?
This element has the chemical symbol Au.
What is gold?
Warranties, delivery, installation, and customer support can add this additional level of value to a product.
What is the augmented product?
A consumer comparing several laptop brands, specifications, prices, and reviews before purchasing is most likely buying this type of product.
What is a shopping product?
When an established brand uses its existing name to enter a new product category, marketers call it this.
What is a brand extension?
A company may maintain, harvest, or discontinue a product when it reaches this PLC stage.
What is the decline stage?
This country is home to the Great Barrier Reef.
What is Australia?