Everything that one receives in an exchange, including all tingble and intngible
ID: 382014 • Letter: E
Question
Everything that one receives in an exchange, including all tingble and intngible atrbules ce duestions ( 2 points each) all tangible and intangible attributes and expected a, package. b.contract product trade warranty. 2. Consumer products can be divided into the following three categories: convenience, shopping, and business shopping, convenience, and specialty. convenience, component, and accessory. b) d. shopping, component, and specialty. a business, specialty, and shopping. 3. Consumers would most likely treat candy bars asproducts. business shopping specialty convenience household a. b. e. A consumer product for which buyers will not accept a substitute, for which purchasers do not compare and that is purchased infrequently and with extra effort on the buyer's part is aproduct alternatives, luxury business c. specialty d. shopping e. convenience -products. 5. Consumers would most likely treat personal computers as a, business b. convenience specialty d shopping a, luxury In which order do the stages of the product life-cycle occur? a. Growth, introduction, maturity, decline b. Introduction, maturity, slowdown, decline Innovation, distribution, maturity, decline Introduction, growth, maturity, decline e. Introduction, growth, slowdown, declineExplanation / Answer
1. Option C Product
A product is something we purchase in exchange for money and we purchase that because we feel there are some expected benefits to be enjoyed with that product. These benefits and attributes could be tangible or in tangible. For example a TV gives us entertainment which is intangible, a sewing machine will help to mkae clothes which is tangible.
2. Option B,shopping, convenience and speciality
convenience products are those products which consumers buy for convenience in their daily routine jobs, these are bought very frequently without much effort. example: washing detergents, soap, sugar etc.
Shopping products are those which the consumer usually compares in terms of price, style, quality etc attributes before purchase. they spend more time and effort. example: clothes
Speciality products are unique products for which the consumer looks at the brand, and other personal preferences like comfort etc to buy the product. example cars
3. Option D, convenience
A candy bar is a product which is cheap and there is low risk of not being up to the consumer preferences and it is a frequently bought product. hence, convenience
4. Option C, speciality
A buyer will not compare the product with other brands, and the buyer makes an effort for purchasing the product interms of contacting the dealer, travelling great distances etc. these are attributes of speciality products.
5. Option D, Shopping
to buy a personal laptopn consumer will compare the product with its benefits like price, size, RAM, hardisk other features before buying the product. Hence it is the shopping category
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