Question 1

The ________ is a natural process in which products are born,grow in stature,mature,and finally decline and die.

Accepted Answer

A) product life stages 
B) profit life cycle 
C) product life cycle 
D) product profit stages 
E) profit life stages 
A) product life stages 
B) profit life cycle 
C) product life cycle 
D) product profit stages 
E) profit life stages

Question 2

The value of a product,service,or idea to a consumer is based on the formula "costs divided by benefits."

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is correct with regard to rational and emotional purchase motives?

Accepted Answer

A) Emotional purchase motives generally lead to post-purchase unhappiness. 
B) Rational motives are normally used for industrial goods purchases,while emotional motives are normally used for consumer goods purchases. 
C) Research shows that rational motives are more commonly used by men,while emotional motives are more commonly used by women. 
D) Emotional motives are used when purchasing services,while rational motives are used when purchasing goods. 
E) None of these is correct. 
A) Emotional purchase motives generally lead to post-purchase unhappiness. 
B) Rational motives are normally used for industrial goods purchases,while emotional motives are normally used for consumer goods purchases. 
C) Research shows that rational motives are more commonly used by men,while emotional motives are more commonly used by women. 
D) Emotional motives are used when purchasing services,while rational motives are used when purchasing goods. 
E) None of these is correct.

Question 4

During the ________ stage of the product life cycle,heavy promotion is often required to build brand preference over the competition.

Accepted Answer

A) introduction 
B) decline 
C) maturity 
D) growth 
E) development 
A) introduction 
B) decline 
C) maturity 
D) growth 
E) development

Question 5

If you are in the market for a new set of skis,you probably have some idea of who provides the best skis and how they differ.You may have accumulated some of this knowledge during the information-seeking stage and combined it with what you knew before.The next stage for you is to

Accepted Answer

A) evaluate alternatives. 
B) seek information. 
C) buy a new pair of skis. 
D) recognize the problem. 
E) evaluate post-purchase. 
A) evaluate alternatives. 
B) seek information. 
C) buy a new pair of skis. 
D) recognize the problem. 
E) evaluate post-purchase.

Question 6

List the three industrial markets.

Accepted Answer

The three industrial markets are the res

Question 7

________ is the process of planning and executing the development,pricing,promotion,and distribution of ideas,goods,and services to create exchanges that satisfy individual and organizational objectives.

Accepted Answer

A) Promotion 
B) Relationship marketing 
C) Marketing 
D) Market strategy 
E) Market segmentation 
A) Promotion 
B) Relationship marketing 
C) Marketing 
D) Market strategy 
E) Market segmentation

Question 8

Explain how each of the main factors in the external environment of a business affects how marketing is carried out.

Accepted Answer

- Economic factors: Economic conditions

Question 9

Which element of the marketing mix is illustrated by using premiums and coupons to encourage consumers to buy more of a product?

Accepted Answer

A) Price 
B) Promotion 
C) Production 
D) Place 
E) Productivity improvements 
A) Price 
B) Promotion 
C) Production 
D) Place 
E) Productivity improvements

Question 10

What are the four principal elements of marketing which managers rely on in planning and implementing marketing strategies?

Accepted Answer

The four elements are product,pricing,pr

Question 11

What are the psychographic variables used in market segmentation?

Accepted Answer

Lifestyle,

Question 12

A newspaper,coffee,and an Egg McMuffin at McDonald's are all consumer convenience goods.

Accepted Answer

A) True 
 B)False

Question 13

What is the purpose of the screening stage of the product development process?

Accepted Answer

A) To identify potential production problems 
B) To identify the benefits which consumers want 
C) To actively seek out ideas for new products 
D) To eliminate all ideas that do not mesh with the firm's objectives,abilities,or expertise 
E) To compare costs and benefits of the proposed product 
A) To identify potential production problems 
B) To identify the benefits which consumers want 
C) To actively seek out ideas for new products 
D) To eliminate all ideas that do not mesh with the firm's objectives,abilities,or expertise 
E) To compare costs and benefits of the proposed product

Question 14

You and your spouse decide that the sports car you currently own is not going to be suitable for travelling with your new baby,Amy.You are in what stage of the consumer buying process?

Accepted Answer

A) Purchase decision 
B) Post-purchase evaluation 
C) Problem recognition 
D) Information seeking 
E) Evaluation of alternatives 
A) Purchase decision 
B) Post-purchase evaluation 
C) Problem recognition 
D) Information seeking 
E) Evaluation of alternatives

Question 15

Ford offers four different models of the Escort which run the gamut from the three-door sport model to the five-door sedan.This represents

Accepted Answer

A) a product offering. 
B) multiple product lines. 
C) a product line. 
D) a product blend. 
E) a product mix. 
A) a product offering. 
B) multiple product lines. 
C) a product line. 
D) a product blend. 
E) a product mix.

Question 16

What is product placement? Why is it popular with marketing managers?

Accepted Answer

Product placement is a promotional tacti

Question 17

A chef purchases a new oven for her restaurant's kitchen.Explain whether the chef is buying a capital item or a production item.

Accepted Answer

The chef is buying a capital item becaus

Question 18

Physical products purchased by companies to produce other products are known as consumer goods.

Accepted Answer

A) True 
 B)False

Question 19

The new product that Bellson Corp.introduced last year is now experiencing rapidly increasing sales,and the product has begun to show a profit.But Bellson notices that two competitors have recently introduced similar products.This is what happens in the ________ stage of a product's life cycle.

Accepted Answer

A) growth 
B) maturity 
C) decline 
D) development 
E) introduction 
A) growth 
B) maturity 
C) decline 
D) development 
E) introduction

Question 20

For industrial goods,the main difference between expense and capital items is the length of time they are used.

Accepted Answer

A) True 
 B)False

The ________ is a natural process in which products are born,grow in stature,mature,and finally decline and die.

The value of a product,service,or idea to a consumer is based on the formula "costs divided by benefits."

Which of the following is correct with regard to rational and emotional purchase motives?

During the ________ stage of the product life cycle,heavy promotion is often required to build brand preference over the competition.

If you are in the market for a new set of skis,you probably have some idea of who provides the best skis and how they differ.You may have accumulated some of this knowledge during the information-seeking stage and combined it with what you knew before.The next stage for you is to

List the three industrial markets.

________ is the process of planning and executing the development,pricing,promotion,and distribution of ideas,goods,and services to create exchanges that satisfy individual and organizational objectives.

Explain how each of the main factors in the external environment of a business affects how marketing is carried out.

Which element of the marketing mix is illustrated by using premiums and coupons to encourage consumers to buy more of a product?

What are the four principal elements of marketing which managers rely on in planning and implementing marketing strategies?

What are the psychographic variables used in market segmentation?

A newspaper,coffee,and an Egg McMuffin at McDonald's are all consumer convenience goods.

What is the purpose of the screening stage of the product development process?

You and your spouse decide that the sports car you currently own is not going to be suitable for travelling with your new baby,Amy.You are in what stage of the consumer buying process?

Ford offers four different models of the Escort which run the gamut from the three-door sport model to the five-door sedan.This represents

What is product placement? Why is it popular with marketing managers?

A chef purchases a new oven for her restaurant's kitchen.Explain whether the chef is buying a capital item or a production item.

Physical products purchased by companies to produce other products are known as consumer goods.

The new product that Bellson Corp.introduced last year is now experiencing rapidly increasing sales,and the product has begun to show a profit.But Bellson notices that two competitors have recently introduced similar products.This is what happens in the ________ stage of a product's life cycle.

For industrial goods,the main difference between expense and capital items is the length of time they are used.

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters

Exam 12: Understanding Marketing Principles and Developing Products

The ________ is a natural process in which products are born,grow in stature,mature,and finally decline and die.

The value of a product,service,or idea to a consumer is based on the formula "costs divided by benefits."

Which of the following is correct with regard to rational and emotional purchase motives?

During the ________ stage of the product life cycle,heavy promotion is often required to build brand preference over the competition.

If you are in the market for a new set of skis,you probably have some idea of who provides the best skis and how they differ.You may have accumulated some of this knowledge during the information-seeking stage and combined it with what you knew before.The next stage for you is to

List the three industrial markets.

________ is the process of planning and executing the development,pricing,promotion,and distribution of ideas,goods,and services to create exchanges that satisfy individual and organizational objectives.

Explain how each of the main factors in the external environment of a business affects how marketing is carried out.

Which element of the marketing mix is illustrated by using premiums and coupons to encourage consumers to buy more of a product?

What are the four principal elements of marketing which managers rely on in planning and implementing marketing strategies?

What are the psychographic variables used in market segmentation?

A newspaper,coffee,and an Egg McMuffin at McDonald's are all consumer convenience goods.

What is the purpose of the screening stage of the product development process?

You and your spouse decide that the sports car you currently own is not going to be suitable for travelling with your new baby,Amy.You are in what stage of the consumer buying process?

Ford offers four different models of the Escort which run the gamut from the three-door sport model to the five-door sedan.This represents

What is product placement? Why is it popular with marketing managers?

A chef purchases a new oven for her restaurant's kitchen.Explain whether the chef is buying a capital item or a production item.

Physical products purchased by companies to produce other products are known as consumer goods.

The new product that Bellson Corp.introduced last year is now experiencing rapidly increasing sales,and the product has begun to show a profit.But Bellson notices that two competitors have recently introduced similar products.This is what happens in the ________ stage of a product's life cycle.

For industrial goods,the main difference between expense and capital items is the length of time they are used.

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters