Question 1

The biggest advantage of publicity is that:

Accepted Answer

A)  it has negligible possibilities of negative repercussions. 
B)  it allows for personal interactions between a company and its customers. 
C)  the marketer has control over how the news is presented by the media. 
D)  it is usually credible. 
A)  it has negligible possibilities of negative repercussions. 
B)  it allows for personal interactions between a company and its customers. 
C)  the marketer has control over how the news is presented by the media. 
D)  it is usually credible.

Question 2

A downside of publicity is that:

Accepted Answer

A)  it is often perceived by consumers as an untrustworthy and unethical practice. 
B)  the marketer has no control over how the media present the company or its products. 
C)  it is a highly expensive affair. 
D)  it lacks proper planning. 
A)  it is often perceived by consumers as an untrustworthy and unethical practice. 
B)  the marketer has no control over how the media present the company or its products. 
C)  it is a highly expensive affair. 
D)  it lacks proper planning.

Question 3

Aubosh, a car manufacturing company, is in a contract with Bolivin Tires. Under this contract, Aubosh purchases tires from Bolivin Tires for all its mid-range cars. In this scenario, Aubosh buys _____ from Bolivin Tires.

Accepted Answer

A)  the maintenance, repair, and operating products 
B)  installations 
C)  component parts and processed materials 
D)  accessory equipment 
A)  the maintenance, repair, and operating products 
B)  installations 
C)  component parts and processed materials 
D)  accessory equipment

Question 4

Clembor AgroSciences, an agrochemical company, mainly focuses on selling its products in rural markets. The company promotes goodwill by sending teams of salespeople to instruct farmers on the right usage of the products and responding to their agriculture-related queries. In this scenario, Clembor AgroSciences is engaged in _____.

Accepted Answer

A)  social selling 
B)  green marketing 
C)  cause-related marketing 
D)  missionary selling 
A)  social selling 
B)  green marketing 
C)  cause-related marketing 
D)  missionary selling

Question 5

Zetovi Corp. is a multinational communications and information technology company. It manufactures smartphones and other cell phone accessories. The company launched a range of tablets in the market, and it becomes an instant hit. The company then experiences a drastic decline in the sales of its smartphones as a large section of its customer base shifts to tablets. Which of the following concepts is being illustrated in this scenario?

Accepted Answer

A)  Segmentation 
B)  Cannibalization 
C)  Market penetration 
D)  Product bundling 
A)  Segmentation 
B)  Cannibalization 
C)  Market penetration 
D)  Product bundling

Question 6

The idea screening stage of the new product development process involves the formal process of soliciting feedback from consumers by trying out the product concept.

Accepted Answer

A) True 
 B)False

Question 7

Joel wants to buy his best friend a home audio system for his birthday. He visits a few electronic stores and looks at different brands of audio systems and compares their prices. He finally purchases a wireless Bluetooth home audio system from a store that offers good quality within a reasonable price. In the context of product classifications, Joel's purchase falls under the category of _____.

Accepted Answer

A)  convenience products 
B)  unsought products 
C)  shopping products 
D)  specialty products 
A)  convenience products 
B)  unsought products 
C)  shopping products 
D)  specialty products

Question 8

Unsought products are expensive products that consumers purchase less frequently.

Accepted Answer

A) True 
 B)False

Question 9

The purpose of the _____ stage of the new product development process of a company is to estimate costs and forecast sales for each idea to get a sense of the potential profit and of how the product might fit within the company's resources.

Accepted Answer

A)  development 
B)  testing 
C)  analysis 
D)  idea screening 
A)  development 
B)  testing 
C)  analysis 
D)  idea screening

Question 10

A product has three product layers. They are:

Accepted Answer

A)  implied benefit, explicit benefit, and combined benefit. 
B)  physical form, intangible form, and perceived form. 
C)  core benefit, actual product, and augmented product. 
D)  transient layer, overt benefit, and virtual product. 
A)  implied benefit, explicit benefit, and combined benefit. 
B)  physical form, intangible form, and perceived form. 
C)  core benefit, actual product, and augmented product. 
D)  transient layer, overt benefit, and virtual product.

Question 11

Briefly discuss the three types of product innovation.

Accepted Answer

Answers will vary. For a business to thr

Question 12

Chromiate, a digital camera brand, decides to introduce a new MP3 player, GiZmo, under its brand name. Chromiate's decision is an example of brand extension.

Accepted Answer

A) True 
 B)False

Question 13

LiteChoice produces six different flavors of sugar-free cookies for the diabetic population. The company also produces a large assortment of sugar-free chocolates targeted at the same population. The two kinds of products-the sugar-free cookies and chocolates-that LiteChoice produces represent the _____ of the company.

Accepted Answer

A)  product chain 
B)  marketing mix 
C)  brand equity 
D)  product mix 
A)  product chain 
B)  marketing mix 
C)  brand equity 
D)  product mix

Question 14

In the context of business product categories, the marketing of component parts and processed materials emphasizes:

Accepted Answer

A)  personal selling and efficiency. 
B)  quantity and brand. 
C)  product shelf life, customization, and quantity. 
D)  product quality, price, and service. 
A)  personal selling and efficiency. 
B)  quantity and brand. 
C)  product shelf life, customization, and quantity. 
D)  product quality, price, and service.

Question 15

Lucy opens a restaurant that uses only organic ingredients in its dishes. The restaurant quickly gains popularity as its customers recommend it to their friends and family. In this scenario, Lucy's restaurant business is benefiting from _____.

Accepted Answer

A)  social marketing 
B)  guerrilla marketing 
C)  call-to-action marketing 
D)  close range marketing 
A)  social marketing 
B)  guerrilla marketing 
C)  call-to-action marketing 
D)  close range marketing

Question 16

The _____ stage of the new product development process entails introducing the product to the general market.

Accepted Answer

A)  development 
B)  testing 
C)  commercialization 
D)  idea screening 
A)  development 
B)  testing 
C)  commercialization 
D)  idea screening

Question 17

_____ is designed to stimulate wholesalers and retailers to push specific products more aggressively over the short term.

Accepted Answer

A)  Product placement 
B)  Trade promotion 
C)  Viral marketing 
D)  Consumer promotion 
A)  Product placement 
B)  Trade promotion 
C)  Viral marketing 
D)  Consumer promotion

Question 18

Briefly explain a positioning statement.

Accepted Answer

Answers will vary. Your promotional mess

Question 19

In the context of product differentiation and planning, the term _____ refers to the advantage that a consumer gains from specific product features.

Accepted Answer

A)  brand equity 
B)  brand extension 
C)  customer benefit 
D)  product consistency 
A)  brand equity 
B)  brand extension 
C)  customer benefit 
D)  product consistency

Question 20

Which of the following statements is true of shopping products?

Accepted Answer

A)  They have widespread distribution. 
B)  They include natural products used in producing other products. 
C)  They are promoted solely by producers. 
D)  They are inexpensive products that consumers buy frequently. 
A)  They have widespread distribution. 
B)  They include natural products used in producing other products. 
C)  They are promoted solely by producers. 
D)  They are inexpensive products that consumers buy frequently.

The biggest advantage of publicity is that:

A downside of publicity is that:

Aubosh, a car manufacturing company, is in a contract with Bolivin Tires. Under this contract, Aubosh purchases tires from Bolivin Tires for all its mid-range cars. In this scenario, Aubosh buys _____ from Bolivin Tires.

The idea screening stage of the new product development process involves the formal process of soliciting feedback from consumers by trying out the product concept.

Unsought products are expensive products that consumers purchase less frequently.

The purpose of the _____ stage of the new product development process of a company is to estimate costs and forecast sales for each idea to get a sense of the potential profit and of how the product might fit within the company's resources.

A product has three product layers. They are:

Briefly discuss the three types of product innovation.

Chromiate, a digital camera brand, decides to introduce a new MP3 player, GiZmo, under its brand name. Chromiate's decision is an example of brand extension.

In the context of business product categories, the marketing of component parts and processed materials emphasizes:

Lucy opens a restaurant that uses only organic ingredients in its dishes. The restaurant quickly gains popularity as its customers recommend it to their friends and family. In this scenario, Lucy's restaurant business is benefiting from _____.

The _____ stage of the new product development process entails introducing the product to the general market.

_____ is designed to stimulate wholesalers and retailers to push specific products more aggressively over the short term.

Briefly explain a positioning statement.

In the context of product differentiation and planning, the term _____ refers to the advantage that a consumer gains from specific product features.

Which of the following statements is true of shopping products?

Business Now: Change Is the Only Constant

Economics: The Framework of Business

The World Marketplace: Business Without Borders

Business Ethics Social Responsibility: Doing Well by Doing Good

Business Communication: Creating Delivering Messages That Matter

Business Formation: Choosing the Form That Fits

Small Business Entrepreneurship: Economic Rocket Fuel

Accounting: Decision Making by the Numbers

Finance: Acquiring Using Funds to Maximize Value

Securities Markets: Trading Financial Resources

Marketing: Building Profitable Customer Connections

Distribution and Pricing: Right Product, Right Person, Right Place, Right Price

Management, Motivation, and Leadership: Bringing Business to Life

Human Resource Management: Building a Top Quality Workforce

Managing Information Technology: Finding New Ways to Learn and Link

Operations Management: Putting It All Together

Appendix :personal-Finance-Appendix

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Exam 12: Product and Promotion: Creating and Communicating Value

The biggest advantage of publicity is that:

A downside of publicity is that:

Aubosh, a car manufacturing company, is in a contract with Bolivin Tires. Under this contract, Aubosh purchases tires from Bolivin Tires for all its mid-range cars. In this scenario, Aubosh buys _____ from Bolivin Tires.

The idea screening stage of the new product development process involves the formal process of soliciting feedback from consumers by trying out the product concept.

Unsought products are expensive products that consumers purchase less frequently.

The purpose of the _____ stage of the new product development process of a company is to estimate costs and forecast sales for each idea to get a sense of the potential profit and of how the product might fit within the company's resources.

A product has three product layers. They are:

Briefly discuss the three types of product innovation.

Chromiate, a digital camera brand, decides to introduce a new MP3 player, GiZmo, under its brand name. Chromiate's decision is an example of brand extension.

In the context of business product categories, the marketing of component parts and processed materials emphasizes:

Lucy opens a restaurant that uses only organic ingredients in its dishes. The restaurant quickly gains popularity as its customers recommend it to their friends and family. In this scenario, Lucy's restaurant business is benefiting from _____.

The _____ stage of the new product development process entails introducing the product to the general market.

_____ is designed to stimulate wholesalers and retailers to push specific products more aggressively over the short term.

Briefly explain a positioning statement.

In the context of product differentiation and planning, the term _____ refers to the advantage that a consumer gains from specific product features.

Which of the following statements is true of shopping products?

Business Now: Change Is the Only Constant

Economics: The Framework of Business

The World Marketplace: Business Without Borders

Business Ethics Social Responsibility: Doing Well by Doing Good

Business Communication: Creating Delivering Messages That Matter

Business Formation: Choosing the Form That Fits

Small Business Entrepreneurship: Economic Rocket Fuel

Accounting: Decision Making by the Numbers

Finance: Acquiring Using Funds to Maximize Value

Securities Markets: Trading Financial Resources

Marketing: Building Profitable Customer Connections

Distribution and Pricing: Right Product, Right Person, Right Place, Right Price

Management, Motivation, and Leadership: Bringing Business to Life

Human Resource Management: Building a Top Quality Workforce

Managing Information Technology: Finding New Ways to Learn and Link

Operations Management: Putting It All Together

Appendix :personal-Finance-Appendix

Filters