Question 1

Which of the following is most likely a true statement about shopping products?

Accepted Answer

A)  Shopping products tend to be less expensive than convenience products. 
B)  The existence of such products is generally unknown to consumers. 
C)  Shopping products are purchased less frequently than convenience products. 
D)  Consumers typically spend very little time comparing shopping products. 
E)  A life insurance policy is an example of a shopping product. 
A)  Shopping products tend to be less expensive than convenience products. 
B)  The existence of such products is generally unknown to consumers. 
C)  Shopping products are purchased less frequently than convenience products. 
D)  Consumers typically spend very little time comparing shopping products. 
E)  A life insurance policy is an example of a shopping product.

Question 2

A company adding new features to a product will most likely compare each feature's value to customers with its ________.

Accepted Answer

A)  cost to the company 
B)  performance in the market 
C)  benefits to the company 
D)  cost to the customers 
E)  benefits to the supplier 
A)  cost to the company 
B)  performance in the market 
C)  benefits to the company 
D)  cost to the customers 
E)  benefits to the supplier

Question 3

________ products are less frequently purchased consumer products and services that customers compare carefully on suitability,quality,price,and style.

Accepted Answer

A)  Convenience 
B)  Capital 
C)  Unsought 
D)  Shopping 
E)  Secondary 
A)  Convenience 
B)  Capital 
C)  Unsought 
D)  Shopping 
E)  Secondary

Question 4

Lengthening a product line beyond its current range is referred to as product line ________.

Accepted Answer

A)  filling 
B)  strengthening 
C)  mixing 
D)  stretching 
E)  widening 
A)  filling 
B)  strengthening 
C)  mixing 
D)  stretching 
E)  widening

Question 5

What is a product? What are the three levels of a product?

Accepted Answer

A product is anything that can be offere

Question 6

Industrial products are classified as convenience products,shopping products,specialty products,and unsought products.

Accepted Answer

A) True 
 B)False

Question 7

What is co-branding? What are the advantages of co-branding? Provide an example to illustrate your answer.

Accepted Answer

(Answers will vary.)
Co-branding occurs

Question 8

Unsought products are consumer products that the consumer either does not know about or knows about but does not normally consider buying.

Accepted Answer

A) True 
 B)False

Question 9

What is brand equity?

Accepted Answer

Brand equity is the differential effect

Question 10

Consumers rarely compare shopping products before purchasing them.

Accepted Answer

A) True 
 B)False

Question 11

Unlike shopping products,convenience products are purchased less frequently.

Accepted Answer

A) True 
 B)False

Question 12

Product mix length refers to the ________.

Accepted Answer

A)  number of versions offered for each product in the line 
B)  ways in which the various product lines are related 
C)  number of different product lines the company carries 
D)  total number of items a company carries within its product lines 
E)  total market share captured by the entire product line 
A)  number of versions offered for each product in the line 
B)  ways in which the various product lines are related 
C)  number of different product lines the company carries 
D)  total number of items a company carries within its product lines 
E)  total market share captured by the entire product line

Question 13

________ refer to a form of product that consists of activities,benefits,or satisfactions offered for sale that are essentially intangible.

Accepted Answer

A)  Co-brands 
B)  Line extensions 
C)  Services 
D)  Pure products 
E)  Horizontal extensions 
A)  Co-brands 
B)  Line extensions 
C)  Services 
D)  Pure products 
E)  Horizontal extensions

Question 14

Which of the following is an example of an unsought product?

Accepted Answer

A)  furniture 
B)  laundry detergent 
C)  refrigerator 
D)  toothpaste 
E)  life insurance 
A)  furniture 
B)  laundry detergent 
C)  refrigerator 
D)  toothpaste 
E)  life insurance

Question 15

Consistency of a product mix refers to the ________.

Accepted Answer

A)  number of versions offered for each product in the line 
B)  ways in which the various product lines are related 
C)  number of different product lines the company carries 
D)  total number of items a company carries within its product lines 
E)  total market share captured by the entire product line 
A)  number of versions offered for each product in the line 
B)  ways in which the various product lines are related 
C)  number of different product lines the company carries 
D)  total number of items a company carries within its product lines 
E)  total market share captured by the entire product line

Question 16

________ occurs when two established brand names of different companies are used on the same product.

Accepted Answer

A)  Licensing 
B)  Co-branding 
C)  Private branding 
D)  Franchising 
E)  Brand positioning 
A)  Licensing 
B)  Co-branding 
C)  Private branding 
D)  Franchising 
E)  Brand positioning

Question 17

A brand extension gives a new product instant recognition and faster acceptance.

Accepted Answer

A) True 
 B)False

Question 18

Most major new innovations are unsought until consumers become aware of them through advertising.

Accepted Answer

A) True 
 B)False

Question 19

A brand is a name,term,sign,symbol,or design,or a combination of these,that identifies the maker or seller of a product or service.

Accepted Answer

A) True 
 B)False

Question 20

A&B's Smarter Planet campaign markets A&B as a company that provides innovative solutions that improve the world's IQ.This activity of A&B is an example of ________ marketing.

Accepted Answer

A)  segmented 
B)  vertical 
C)  organization 
D)  horizontal 
E)  diversified 
A)  segmented 
B)  vertical 
C)  organization 
D)  horizontal 
E)  diversified

Which of the following is most likely a true statement about shopping products?

A company adding new features to a product will most likely compare each feature's value to customers with its ________.

________ products are less frequently purchased consumer products and services that customers compare carefully on suitability,quality,price,and style.

Lengthening a product line beyond its current range is referred to as product line ________.

What is a product? What are the three levels of a product?

Industrial products are classified as convenience products,shopping products,specialty products,and unsought products.

What is co-branding? What are the advantages of co-branding? Provide an example to illustrate your answer.

Unsought products are consumer products that the consumer either does not know about or knows about but does not normally consider buying.

What is brand equity?

Consumers rarely compare shopping products before purchasing them.

Unlike shopping products,convenience products are purchased less frequently.

Product mix length refers to the ________.

________ refer to a form of product that consists of activities,benefits,or satisfactions offered for sale that are essentially intangible.

Which of the following is an example of an unsought product?

Consistency of a product mix refers to the ________.

________ occurs when two established brand names of different companies are used on the same product.

A brand extension gives a new product instant recognition and faster acceptance.

Most major new innovations are unsought until consumers become aware of them through advertising.

A brand is a name,term,sign,symbol,or design,or a combination of these,that identifies the maker or seller of a product or service.

A&B's Smarter Planet campaign markets A&B as a company that provides innovative solutions that improve the world's IQ.This activity of A&B is an example of ________ marketing.

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

New Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Social Responsibility and Ethics

Filters

Exam 7: Products,Services,and Brands: Building Customer Value

Which of the following is most likely a true statement about shopping products?

A company adding new features to a product will most likely compare each feature's value to customers with its ________.

________ products are less frequently purchased consumer products and services that customers compare carefully on suitability,quality,price,and style.

Lengthening a product line beyond its current range is referred to as product line ________.

What is a product? What are the three levels of a product?

Industrial products are classified as convenience products,shopping products,specialty products,and unsought products.

What is co-branding? What are the advantages of co-branding? Provide an example to illustrate your answer.

Unsought products are consumer products that the consumer either does not know about or knows about but does not normally consider buying.

What is brand equity?

Consumers rarely compare shopping products before purchasing them.

Unlike shopping products,convenience products are purchased less frequently.

Product mix length refers to the ________.

________ refer to a form of product that consists of activities,benefits,or satisfactions offered for sale that are essentially intangible.

Which of the following is an example of an unsought product?

Consistency of a product mix refers to the ________.

________ occurs when two established brand names of different companies are used on the same product.

A brand extension gives a new product instant recognition and faster acceptance.

Most major new innovations are unsought until consumers become aware of them through advertising.

A brand is a name,term,sign,symbol,or design,or a combination of these,that identifies the maker or seller of a product or service.

A&B's Smarter Planet campaign markets A&B as a company that provides innovative solutions that improve the world's IQ.This activity of A&B is an example of ________ marketing.

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

New Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Social Responsibility and Ethics

Filters