Question

1. The third level of a product that product planners consider is a(n) ________ around the core benefit and actual product that offers additional consumer services and benefits.

   	a.	brand equity
   	b.	augmented product
   	c.	industrial product
   	d.	product image
   	e.	brand extension

Answer 1

Correct answer:   

“b”- augmented product

Reason:

Augmented type of product influenced by its sellers in addition to some features or services that separate the exact product offered by other market competitors. It is included with impalpable benefits that are more than the product itself. By augmenting products or services, it differentiates among several competitors and allows generating new profitable streams.   

The unmatched items like brand equity, industrial product, product image, brand extension do not possess such type of concept. The brand equity is the commercial value that obtains from the perception of consumers for any brand name of the product or services rather than the product itself. The industrial products are based on machinery, raw materials, and other types of goods or components used for the purpose of the firms. The product image is the perceptions and attitudes that consumers hold towards the products. It can be manipulated using advertisements and different ways of the promotional process. The brand extension is an instance that is being used to establish the brand name or new products for increasing the height of sales.

The unmatched items do not have any resemblance to the statement, so the correct fitment is an augmented product.