s4 week 1

Question 1

1. Who believes that marketing research is the systematic problem analysis, model building and fact-finding for the purpose of improved decision making and control in the marketing of goods and services?

Answer 1

Philip Kotler

Question 2

2. It is a systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services.

Answer 2

Marketing Research

Question 3

4. Part of marketing research process that involves of collecting information regarding business environment, market situation, competitions and industry surrounding the problem in general.

Answer 3

Situational analysis

Question 4

5. It involves classification, tabulation and interpretation of the data collected.

Answer 4

analyzing and Interpreting

Question 5

What is product?

Answer 5

Product is anything that can be offered in a market for attention, acquisition, use, or
consumption that might satisfy a need or want.
Includes:

 Physical object 

 Services 

 Events 

 Person

 Places

 Organization 
	 Ideas

Question 6

Kotler’s 5 product levels

Answer 6

1. core benefits
2. general products
3. expected product
4. augmented product
5. potential product

Question 7

core benefits

Answer 7

The core benefit is the fundamental need or want that the customer satisfies when they buy the product.
For example, the core benefit of a hotel is to provide somewhere to rest or sleep when away from home.

Question 8

general product

Answer 8

2. Generic Product
   ➢ The generic product is a basic version of the product made up of only those features necessary for it to function.

Question 9

expected product

Answer 9

3. Expected Product
   ➢ The expected product is the set of features that the customers expect when they buy the product.
   In a hotel example, this would include clean sheets, some clean towels,
   Wi-fi, and a clean bathroom.

Question 10

augmented product

Answer 10

4. Augmented Product
   ➢ The augmented product refers to any product variations, extra features, or services that help differentiate the product from its competitors.
   In a hotel example, this could be the inclusion of a concierge service or a free map of the town in every room.

Question 11

Potential product

Answer 11

Potential Product
➢ The potential product includes all augmentations and transformations the product might undergo in the future. In simple language, this means that to continue to surprise and delight customers the product must be augmented.

Question 12

According to use: Consumer goods

Answer 12

Consumer goods are goods that are purchased for personal consumption and/or household use.
Examples: Instant noodles, biscuits, milk, detergent soap, shampoo, and other similar items.

Question 13

According to use: Industrial Goods

Answer 13

Industrial goods are purchased in order to make other goods, to serve as a raw material or input in the production of other goods.
Examples: Aluminum (used to manufacture kitchen equipment and cans); electronic cables and wires (serve as electrical conduits for home appliances)

Question 14

undifferentiated goods

Answer 14

Undifferentiated goods are products whose physical characteristics are so identical. Most undifferentiated goods are products that are sourced from nature.
Example: salt bought from the two different vendors’ looks, feels, and tastes identical

Question 15

differentiated goods

Answer 15

Differentiated goods are varied in their characteristics and features that make them distinguishable from one another.
Example: Car, the appearance and the features vary because of the ability of the
manufacturers to successfully distinguish their products from competitors which is called branding.

Question 16

Durability

Answer 16

Durability refers to the length of time a consumer can derive benefit from the product or good purchased.

Question 17

consumables

Answer 17

Consumable is a product whose benefit can only be used by a consumer for a short
period of time, sometimes only a few minutes. Consumables a such as food, drinks.

Question 18

Semi-durables

Answer 18

Semi-durables provide benefits to the consumer for a longer period of time, usually spanning several months. Semi-durables are manufactured for long-term use by consumer.
Examples of semi-durables are clothes, shoes, belts, jackets, etc.

Question 19

Durables

Answer 19

Durables are products that are manufactured to last a long time. They are capable of providing consumers with years of beneficial use. Durables are usually expensive, and many, therefore, require an augmented product to market them effectively. Examples of durable goods are automobiles, houses, home appliances, customer electronics, furniture, sports equipment, and toys.

Question 20

convenience goods

Answer 20

Convenience goods are products that are purchased frequently, usually inexpensive,
and do not require much purchase effort and evaluation. Examples are newspapers, gum, and
candy.

Question 21

Shopping goods

Answer 21

Shopping goods are purchased less frequently than convenience goods, are relatively more expensive, and require some amount of information search and evaluation prior to purchase.
Examples of shopping goods are shoes, clothes, and handbags.

Question 22

Specialty goods

Answer 22

Specialty goods are goods that require an unusually large effort on the part of
consumers to acquire.
Examples are branded luxury merchandise, works of art, automobiles,
and homes.

Question 23

Unsought goods

Answer 23

Unsought goods are goods that consumers seldom actively look for, and are usually
purchased for extraordinary reasons, such as fear or adversity, rather than desire.
Examples are investments, memorial plans, and life insurance.

Question 24

what is services?

Answer 24

Services are form of product that consist of activities, benefits, or satisfaction offered for sale that are essentially intangible and do not result in the ownership of anything.

Question 25

service four major attribute

Answer 25

1. intangibility 2. variability 3. inseparability 4. perishability

Question 26

Intangibility

Answer 26

Physical products are tangible. As such, they can be inspected by consumers prior to purchase. On the other hand, services are intangible.

Question 27

Variability

Answer 27

Because services are performed by human beings, no service provider can render the same service in exactly the same way every single time.

Question 28

Inseparability

Answer 28

Because services are rendered by people, the service provider must be present each and every time the service is provided. Services are rendered and consumed simultaneously.

Question 29

Perishability

Answer 29

Unconsumed services cannot be stored or warehoused

Question 30

What is experience

Answer 30

A product which involves experiential aspects of consumption rather than utilitarian ones. This type of product allows consumers to engage in fantasies, feelings and fun and often carries subjective meanings and characteristics.

Question 31

Product Experience

Answer 31

Product experience is the overall value of a product or service to customers. This is defined in terms of customer perceptions as they use the product or service in a variety of contexts.

Question 32

importance of costumer service

Answer 32

A remarkable customer experience is critical to the sustained growth of any business. A positive customer experience promotes loyalty, helps you retain customers, and encourages brand advocacy.