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labeling, which is designed to help consumers make proper product selections and lower their
cognitive dissonance after the purchase.
KEY: CB&E Model Product OBJ: 10-5 TOP: AACSB Reflective MSC: BLOOMS Application ESSAY
1. How would a marketer define the term product?
A product is everything, both favorable and unfavorable, that a consumer receives in an
exchange. A product may be a tangible good, a service, an idea, or any combination of these
KEY: CB&E Model Product OBJ: 10-1 TOP: AACSB MSC: BLOOMS Synthesis 2. Products can be classified as either business/industrial or consumer products. Explain what
distinguishes business products from consumer products and why it is important to understand
A product’s classification depends on the buyer’s intentions. Business products are purchased (1)
for use in the manufacture of other goods or services, (2) to facilitate an organization’s operations,
or (3) to resell the products to other customers. Consumer products are purchased to satisfy an
individual’s personal wants. The same item can be classified as either a business or a consumer
product depending on the intended use.
It is important to know about these product classifications because business and consumer
products are marketed differently. These two target markets require different distribution,
promotion, and pricing strategies.
KEY: CB&E Model Product OBJ: 10-2 TOP: AACSB MSC: BLOOMS Synthesis 3. What is the difference between a homogeneous shopping product and a heterogeneous shopping
product? Give specific examples of products that fit into each category to help illustrate your
HOMOGENEOUS SHOPPING PRODUCTS are those that consumers see as being basically the
same. The main purpose of shopping is to find the lowest-priced product that has the required
features. Appliances and televisions are homogeneous shopping products for many people.
HETEROGENEOUS SHOPPING PRODUCTS are those that consumers see as different in terms
of quality, style, suitability, and lifestyle compatibility. Comparisons among heterogeneous
shopping products are difficult because the alternatives possess unique features as well as
different prices and quality levels. These products may include furniture, clothing, housing, and
the choice of a university.
KEY: CB&E Model Product OBJ: 10-2 TOP: AACSB MSC: BLOOMS Synthesis 4. Name and briefly define the four categories of consumer products. For each category, list three
specific examples of products that would most likely be classified in that category.
CONVENIENCE PRODUCTS are relatively inexpensive items that require little shopping effort.
The products are bought regularly, usually without significant planning. Convenience products
may include candy, soft drinks, aspirin, small hardware items, dry cleaning, car wash services,
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This document was uploaded on 09/29/2013.
- Fall '13