Marketers Need to Think About the Product Offer on Three

question 82

Multiple Choice

Marketers need to think about the product offer on three levels. Which of the following levels includes associated services such as warranties, financing, support, and after-sale service?

• A) augmented product
• B) core customer value
• C) actual product
• D) modified product
• E) core product
• The augmented product includes associated services such as a warranty and a customer service line dedicated to product support.

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Definitions:

Resource Allocation

The process of distributing available resources among various projects or business units.

Monopolistic Competition

A market framework where numerous sellers present unique products, granting them a certain level of influence over the market.

Allocative Efficiency

A state of resource allocation where it is not possible to make someone better off without making someone else worse off.

Productive Efficiency

A situation where an economy or firm produces goods at the lowest possible cost, utilizing all its resources efficiently without waste.