Question 1

Chewing gum, flashlight batteries, sewing needles, and adhesive tape are considered convenience products.

Accepted Answer

A) True 
 B)False  True

Question 2

Demography is the study of:

Accepted Answer

A) individual's ages 
B) educational levels 
C) household size 
D) income levels 
E) all of the above 
A) individual's ages 
B) educational levels 
C) household size 
D) income levels 
E) all of the above E

Question 3

The two new-product pricing strategies most often used by marketers are:

Accepted Answer

A) value pricing and cost-plus pricing 
B) targeted return pricing and profit maximization pricing 
C) psychological pricing and physiological pricing 
D) price skimming and penetration pricing 
E) price shaving and price grooming 
A) value pricing and cost-plus pricing 
B) targeted return pricing and profit maximization pricing 
C) psychological pricing and physiological pricing 
D) price skimming and penetration pricing 
E) price shaving and price grooming D

Question 4

Which of the following products would be correctly described as being in the decline stage of their product life cycle?

Accepted Answer

A) candles 
B) exercise equipment 
C) golfing magazines 
D) manual typewriters 
E) fire extinguishers 
A) candles 
B) exercise equipment 
C) golfing magazines 
D) manual typewriters 
E) fire extinguishers

Question 5

The process that products go through as they pass through their introduction, growth, maturity, and decline stages is called the:

Accepted Answer

A) marketing mix 
B) product life cycle 
C) product mix cycle 
D) stages of product development 
E) stages of product 
A) marketing mix 
B) product life cycle 
C) product mix cycle 
D) stages of product development 
E) stages of product

Question 6

Which of the following is an example of a social factor that influences the consumer decision-making process?

Accepted Answer

A) attitude 
B) family 
C) values 
D) self-concept 
E) personality 
A) attitude 
B) family 
C) values 
D) self-concept 
E) personality

Question 7

The Accent Modification Center helps upwardly mobile international professionals smooth accents that may be holding them back from getting that next promotion.The business's target market is from the growing Asian population in Virginia.The center has developed a(n):

Accepted Answer

A) promotional emphasis 
B) niche competitive advantage 
C) relationship building advantage 
D) comparative advantage 
E) differential competitive advantage 
A) promotional emphasis 
B) niche competitive advantage 
C) relationship building advantage 
D) comparative advantage 
E) differential competitive advantage

Question 8

_____ is the ratio of benefits to the sacrifice necessary to obtain those benefits.

Accepted Answer

A) Customer satisfaction 
B) Cognitive dissonance 
C) Relationship marketing 
D) Customer value 
E) Price 
A) Customer satisfaction 
B) Cognitive dissonance 
C) Relationship marketing 
D) Customer value 
E) Price

Question 9

A firm with a _____ has its ability to provide a unique product or service that offers something of value to buyers besides simply a lower price.

Accepted Answer

A) promotional emphasis 
B) niche strategy 
C) relationship building advantage 
D) comparative advantage 
E) differential competitive advantage 
A) promotional emphasis 
B) niche strategy 
C) relationship building advantage 
D) comparative advantage 
E) differential competitive advantage

Question 10

The blend of the marketer's tools is called the five Ps.Which of the following is NOT one of the five Ps?

Accepted Answer

A) product strategy 
B) pricing strategy 
C) place strategy 
D) possession strategy 
E) promotion strategy 
A) product strategy 
B) pricing strategy 
C) place strategy 
D) possession strategy 
E) promotion strategy

Question 11

Which of the following is NOT an example of a convenience product?

Accepted Answer

A) flashlight batteries 
B) milk 
C) lawn furniture 
D) newspaper 
E) chewing gum 
A) flashlight batteries 
B) milk 
C) lawn furniture 
D) newspaper 
E) chewing gum

Question 12

What is the primary focus of not-for-profit marketers?

Accepted Answer

generating

Question 13

Transmissions purchased by the Snapper Inc.to build riding lawn mowers are called component parts.

Accepted Answer

A) True 
 B)False

Question 14

There are no significant differences between the consumer market and the business-to-business market.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is a step in the new-product development process?

Accepted Answer

A) develop new-product ideas 
B) screen ideas 
C) create a marketing mix 
D) test the new product 
E) all of the above 
A) develop new-product ideas 
B) screen ideas 
C) create a marketing mix 
D) test the new product 
E) all of the above

Question 16

Which of the following is an expense item for an independent bookstore?

Accepted Answer

A) book shelves 
B) cash register 
C) display cabinet for first editions 
D) building in which store is located 
E) order forms 
A) book shelves 
B) cash register 
C) display cabinet for first editions 
D) building in which store is located 
E) order forms

Question 17

During the _____ stage of the product life cycle, competition is light, production and marketing costs are high, and profits are either small or negative.

Accepted Answer

The answer of During the _____ stage of the product...

Question 18

When Gene O'Hare went online to plan his vacation to Australia, he learned that he could buy plane tickets, rent a car, and pay for a hotel in a reduced-price tourist package, which made it very convenient for him to book his trip.The Web site O'Hare visited used _____ to make trip planning easier and more economical.

Accepted Answer

A) price structuring 
B) price grouping 
C) bundling 
D) aggregated pricing 
E) psychological pricing 
A) price structuring 
B) price grouping 
C) bundling 
D) aggregated pricing 
E) psychological pricing

Question 19

In new-product development, _____ is the stage at which products that do not meet new-product goals are rejected.

Accepted Answer

A) weeding out 
B) scrubbing 
C) de-activating 
D) screening 
E) prospecting 
A) weeding out 
B) scrubbing 
C) de-activating 
D) screening 
E) prospecting

Question 20

American Handgunner, Shooting Industry and Guns Magazine are all periodicals aimed at people who enjoy hunting and target shooting and want to improve their skills and stay current in the latest technology.These magazines use _____ segmentation.

Accepted Answer

A) psychographic 
B) volume 
C) geographic 
D) demographic 
E) none of the above 
A) psychographic 
B) volume 
C) geographic 
D) demographic 
E) none of the above

Chewing gum, flashlight batteries, sewing needles, and adhesive tape are considered convenience products.

Demography is the study of:

The two new-product pricing strategies most often used by marketers are:

Which of the following products would be correctly described as being in the decline stage of their product life cycle?

The process that products go through as they pass through their introduction, growth, maturity, and decline stages is called the:

Which of the following is an example of a social factor that influences the consumer decision-making process?

The Accent Modification Center helps upwardly mobile international professionals smooth accents that may be holding them back from getting that next promotion.The business's target market is from the growing Asian population in Virginia.The center has developed a(n):

_____ is the ratio of benefits to the sacrifice necessary to obtain those benefits.

A firm with a _____ has its ability to provide a unique product or service that offers something of value to buyers besides simply a lower price.

The blend of the marketer's tools is called the five Ps.Which of the following is NOT one of the five Ps?

Which of the following is NOT an example of a convenience product?

What is the primary focus of not-for-profit marketers?

Transmissions purchased by the Snapper Inc.to build riding lawn mowers are called component parts.

There are no significant differences between the consumer market and the business-to-business market.

Which of the following is a step in the new-product development process?

Which of the following is an expense item for an independent bookstore?

During the _____ stage of the product life cycle, competition is light, production and marketing costs are high, and profits are either small or negative.

In new-product development, _____ is the stage at which products that do not meet new-product goals are rejected.

American Handgunner, Shooting Industry and Guns Magazine are all periodicals aimed at people who enjoy hunting and target shooting and want to improve their skills and stay current in the latest technology.These magazines use _____ segmentation.

Understanding Economic Systems and Business

Making Ethical Decisions and Managing a Socially Responsible Business

Competing in the Global Marketplace

Forms of Business Ownership

Entrepreneurship: Starting and Managing Your Own Business

Management and Leadership in Todays Organizations

Designing Organizational Structures

Managing Human Resources and Labor Relations

Motivating Employees

Achieving World-Class Operations Management

Distributing and Promoting Products and Services

Using Technology to Manage Information

Using Financial Information and Accounting

Understanding Money and Financial Institutions

Understanding Financial Management and Securities Markets

Your Career in Business

Filters

Exam 11: Creating Products and Pricing Strategies to Meet Customers Needs

Chewing gum, flashlight batteries, sewing needles, and adhesive tape are considered convenience products.

Demography is the study of:

The two new-product pricing strategies most often used by marketers are:

Which of the following products would be correctly described as being in the decline stage of their product life cycle?

The process that products go through as they pass through their introduction, growth, maturity, and decline stages is called the:

Which of the following is an example of a social factor that influences the consumer decision-making process?

The Accent Modification Center helps upwardly mobile international professionals smooth accents that may be holding them back from getting that next promotion.The business's target market is from the growing Asian population in Virginia.The center has developed a(n):

_____ is the ratio of benefits to the sacrifice necessary to obtain those benefits.

A firm with a _____ has its ability to provide a unique product or service that offers something of value to buyers besides simply a lower price.

The blend of the marketer's tools is called the five Ps.Which of the following is NOT one of the five Ps?

Which of the following is NOT an example of a convenience product?

What is the primary focus of not-for-profit marketers?

Transmissions purchased by the Snapper Inc.to build riding lawn mowers are called component parts.

There are no significant differences between the consumer market and the business-to-business market.

Which of the following is a step in the new-product development process?

Which of the following is an expense item for an independent bookstore?

During the _____ stage of the product life cycle, competition is light, production and marketing costs are high, and profits are either small or negative.

In new-product development, _____ is the stage at which products that do not meet new-product goals are rejected.

American Handgunner, Shooting Industry and Guns Magazine are all periodicals aimed at people who enjoy hunting and target shooting and want to improve their skills and stay current in the latest technology.These magazines use _____ segmentation.

Understanding Economic Systems and Business

Making Ethical Decisions and Managing a Socially Responsible Business

Competing in the Global Marketplace

Forms of Business Ownership

Entrepreneurship: Starting and Managing Your Own Business

Management and Leadership in Todays Organizations

Designing Organizational Structures

Managing Human Resources and Labor Relations

Motivating Employees

Achieving World-Class Operations Management

Distributing and Promoting Products and Services

Using Technology to Manage Information

Using Financial Information and Accounting

Understanding Money and Financial Institutions

Understanding Financial Management and Securities Markets

Your Career in Business

Filters