Question 1

Rosy's Sweet Treats is a food truck that sells waffles. In this scenario, which of the following is true of Rosy's Sweet Treats?

Accepted Answer

A)  The business deals in pure services. 
B)  The kind of product offered by the business is an example of shopping products. 
C)  The kind of product offered by the business is an example of specialty products. 
D)  The business is a mix of goods and services. 
A)  The business deals in pure services. 
B)  The kind of product offered by the business is an example of shopping products. 
C)  The kind of product offered by the business is an example of specialty products. 
D)  The business is a mix of goods and services.

Question 2

Which of the following statements is true of convenience products?

Accepted Answer

A)  Their distribution is highly selective. 
B)  Their promotion is done by their producers. 
C)  They include cars, computers, and cell phone service. 
D)  They are expensive goods that hold little interest for consumers. 
A)  Their distribution is highly selective. 
B)  Their promotion is done by their producers. 
C)  They include cars, computers, and cell phone service. 
D)  They are expensive goods that hold little interest for consumers.

Question 3

Manufacturers rarely emphasize packaging because this aspect of the product has little relevance to a customer's decision-making process.

Accepted Answer

A) True 
 B)False

Question 4

The two key aspects of product quality are level and longevity.

Accepted Answer

A) True 
 B)False

Question 5

Cherry Doux Bakery reaches an agreement with Candy Call to use Candy Call's original dark chocolate in its popular chocolate cookies and sell them in its stores. The two companies are using a strategy known as cobranding.

Accepted Answer

A) True 
 B)False

Question 6

A home décor company manufactures a range of bedding products such as bedspreads, pillows, and mattresses. The range of bedding products represents the _____ of the company.

Accepted Answer

A)  commodity chain 
B)  supply chain 
C)  product mix 
D)  product line 
A)  commodity chain 
B)  supply chain 
C)  product mix 
D)  product line

Question 7

Competitive advertising is a key marketing strategy of the maturity phase of a product life cycle.

Accepted Answer

A) True 
 B)False

Question 8

Jaques M. Danver, a neuroscientist, invents a chip that can be surgically inserted into the human brain. This chip can increase the memory power in humans by 30 percent. In this scenario, Jaques M. Danver's invention is an example of a _____.

Accepted Answer

A)  continuous innovation 
B)  disruptive innovation 
C)  dynamically continuous innovation 
D)  discontinuous innovation 
A)  continuous innovation 
B)  disruptive innovation 
C)  dynamically continuous innovation 
D)  discontinuous innovation

Question 9

An example of a pure good is:

Accepted Answer

A)  a bed and breakfast inn. 
B)  a dual-colored reversible jacket. 
C)  an online grocery store. 
D)  a haircut at a premium salon. 
A)  a bed and breakfast inn. 
B)  a dual-colored reversible jacket. 
C)  an online grocery store. 
D)  a haircut at a premium salon.

Question 10

Which of the following statements best defines a product life cycle?

Accepted Answer

A)  It refers to the shelf life of a product. 
B)  It refers to the journey of a product from production to sale. 
C)  It refers to the process of recycling damaged products into new products. 
D)  It refers to the dynamic pattern of sales and profits of a product. 
A)  It refers to the shelf life of a product. 
B)  It refers to the journey of a product from production to sale. 
C)  It refers to the process of recycling damaged products into new products. 
D)  It refers to the dynamic pattern of sales and profits of a product.

Question 11

_____ tools include premiums, promotional products, samples, coupons, rebates, and displays.

Accepted Answer

A)  Product placement 
B)  Consumer promotion 
C)  Personal selling 
D)  Sponsorship 
A)  Product placement 
B)  Consumer promotion 
C)  Personal selling 
D)  Sponsorship

Question 12

Cannibalization occurs when a producer offers a new product that takes sales away from its existing products.

Accepted Answer

A) True 
 B)False

Question 13

Business products are purchased to use either directly or indirectly in a production process.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following statements is true of augmented products?

Accepted Answer

A)  They are established goods that are modified to suit a particular consumer taste. 
B)  They are subsidiary products that come at a discounted cost with the main product. 
C)  They are additional goods or services that are attached to the main purchase or actual good. 
D)  They are products that are expensive and require some deliberation before purchase. 
A)  They are established goods that are modified to suit a particular consumer taste. 
B)  They are subsidiary products that come at a discounted cost with the main product. 
C)  They are additional goods or services that are attached to the main purchase or actual good. 
D)  They are products that are expensive and require some deliberation before purchase.

Question 15

The physical good or delivered service that provides a core benefit is called the _____.

Accepted Answer

A)  virtual product 
B)  actual product 
C)  secondary product 
D)  augmented product 
A)  virtual product 
B)  actual product 
C)  secondary product 
D)  augmented product

Question 16

Plezion Movie Palace, a film theater in Germany, gives all its customers miniatures of the main character of the latest superhero film that is being exhibited. The miniature props given by Plezion Movie Palace to its customers are examples of _____.

Accepted Answer

A)  core products 
B)  augmented products 
C)  cross products 
D)  virtual products 
A)  core products 
B)  augmented products 
C)  cross products 
D)  virtual products

Question 17

_____ involves using all the media platforms to promote a product.

Accepted Answer

A)  Social marketing intelligence 
B)  Linear marketing 
C)  Integrated marketing communication 
D)  Viral marketing 
A)  Social marketing intelligence 
B)  Linear marketing 
C)  Integrated marketing communication 
D)  Viral marketing

Question 18

The technology of _____ involves taking specific steps to ensure that a particular Web site appears high on the list when customers look for a product or service via Yahoo! or Google.

Accepted Answer

A)  online video advertising 
B)  web scraping 
C)  search engine optimization 
D)  native advertising 
A)  online video advertising 
B)  web scraping 
C)  search engine optimization 
D)  native advertising

Question 19

In the context of the new product development process, the _____ stage leads to detailed descriptions of each concept with specific product features.

Accepted Answer

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

Question 20

In the context of product adoption and diffusion, which of the following questions relates to the product characteristic of compatibility?

Accepted Answer

A)  How visible is the product to other potential consumers? 
B)  How easily can potential consumers sample the new product? 
C)  Can potential consumers easily understand what your product is and how it works? 
D)  How consistent is your product with the existing way of doing things? 
A)  How visible is the product to other potential consumers? 
B)  How easily can potential consumers sample the new product? 
C)  Can potential consumers easily understand what your product is and how it works? 
D)  How consistent is your product with the existing way of doing things?

Rosy's Sweet Treats is a food truck that sells waffles. In this scenario, which of the following is true of Rosy's Sweet Treats?

Which of the following statements is true of convenience products?

Manufacturers rarely emphasize packaging because this aspect of the product has little relevance to a customer's decision-making process.

The two key aspects of product quality are level and longevity.

Cherry Doux Bakery reaches an agreement with Candy Call to use Candy Call's original dark chocolate in its popular chocolate cookies and sell them in its stores. The two companies are using a strategy known as cobranding.

A home décor company manufactures a range of bedding products such as bedspreads, pillows, and mattresses. The range of bedding products represents the _____ of the company.

Competitive advertising is a key marketing strategy of the maturity phase of a product life cycle.

Jaques M. Danver, a neuroscientist, invents a chip that can be surgically inserted into the human brain. This chip can increase the memory power in humans by 30 percent. In this scenario, Jaques M. Danver's invention is an example of a _____.

An example of a pure good is:

Which of the following statements best defines a product life cycle?

_____ tools include premiums, promotional products, samples, coupons, rebates, and displays.

Cannibalization occurs when a producer offers a new product that takes sales away from its existing products.

Business products are purchased to use either directly or indirectly in a production process.

Which of the following statements is true of augmented products?

The physical good or delivered service that provides a core benefit is called the _____.

Plezion Movie Palace, a film theater in Germany, gives all its customers miniatures of the main character of the latest superhero film that is being exhibited. The miniature props given by Plezion Movie Palace to its customers are examples of _____.

_____ involves using all the media platforms to promote a product.

The technology of _____ involves taking specific steps to ensure that a particular Web site appears high on the list when customers look for a product or service via Yahoo! or Google.

In the context of the new product development process, the _____ stage leads to detailed descriptions of each concept with specific product features.

In the context of product adoption and diffusion, which of the following questions relates to the product characteristic of compatibility?

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

Rosy's Sweet Treats is a food truck that sells waffles. In this scenario, which of the following is true of Rosy's Sweet Treats?

Which of the following statements is true of convenience products?

Manufacturers rarely emphasize packaging because this aspect of the product has little relevance to a customer's decision-making process.

The two key aspects of product quality are level and longevity.

Cherry Doux Bakery reaches an agreement with Candy Call to use Candy Call's original dark chocolate in its popular chocolate cookies and sell them in its stores. The two companies are using a strategy known as cobranding.

A home décor company manufactures a range of bedding products such as bedspreads, pillows, and mattresses. The range of bedding products represents the _____ of the company.

Competitive advertising is a key marketing strategy of the maturity phase of a product life cycle.

Jaques M. Danver, a neuroscientist, invents a chip that can be surgically inserted into the human brain. This chip can increase the memory power in humans by 30 percent. In this scenario, Jaques M. Danver's invention is an example of a _____.

An example of a pure good is:

Which of the following statements best defines a product life cycle?

_____ tools include premiums, promotional products, samples, coupons, rebates, and displays.

Cannibalization occurs when a producer offers a new product that takes sales away from its existing products.

Business products are purchased to use either directly or indirectly in a production process.

Which of the following statements is true of augmented products?

The physical good or delivered service that provides a core benefit is called the _____.

Plezion Movie Palace, a film theater in Germany, gives all its customers miniatures of the main character of the latest superhero film that is being exhibited. The miniature props given by Plezion Movie Palace to its customers are examples of _____.

_____ involves using all the media platforms to promote a product.

The technology of _____ involves taking specific steps to ensure that a particular Web site appears high on the list when customers look for a product or service via Yahoo! or Google.

In the context of the new product development process, the _____ stage leads to detailed descriptions of each concept with specific product features.

In the context of product adoption and diffusion, which of the following questions relates to the product characteristic of compatibility?

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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