Question 1

The two types of business products are classified as expense and non-expense items.

Accepted Answer

A) True 
 B)False

Question 2

Reality television shows are often designed to appeal to people who would themselves like to appear on television.What is the collective term for this group of viewers?

Accepted Answer

The answer of Reality television shows are often designed to...

Question 3

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

Accepted Answer

A) Sales 
B) Marketing 
C) Exchange 
D) Production 
E) Advertising 
A) Sales 
B) Marketing 
C) Exchange 
D) Production 
E) Advertising

Question 4

A _____ product is a product for which consumers may search long and hard and for which they refuse to accept substitutes.

Accepted Answer

A) shopping 
B) specialty 
C) convenience 
D) generic 
E) sought 
A) shopping 
B) specialty 
C) convenience 
D) generic 
E) sought

Question 5

The idea behind bundling is to reach a segment of the market that would not be reached as effectively if the product were sold separately.

Accepted Answer

A) True 
 B)False

Question 6

The _____ is the person who develops and implements a complete strategy and marketing program for a specific product or brand.

Accepted Answer

A) product manager 
B) category manager 
C) product gatekeeper 
D) brand captain 
E) product champion 
A) product manager 
B) category manager 
C) product gatekeeper 
D) brand captain 
E) product champion

Question 7

Expense items that have undergone little or no processing and are used in the manufacture of end products are called:

Accepted Answer

A) installations 
B) raw materials 
C) component parts 
D) specialty products 
E) accessories 
A) installations 
B) raw materials 
C) component parts 
D) specialty products 
E) accessories

Question 8

_____ is the set of values, ideas, attitudes, and symbols created to shape human behavior.

Accepted Answer

A) Consumer expectation 
B) Stimulus reaction 
C) Culture 
D) A market trigger 
E) Consumer impulse 
A) Consumer expectation 
B) Stimulus reaction 
C) Culture 
D) A market trigger 
E) Consumer impulse

Question 9

Customer satisfaction:

Accepted Answer

A) refers to the customer's feeling that a product has met or exceeded expectations 
B) determines what kind of marketing strategy will be used 
C) is the same as customer value 
D) is only important to companies that have a differential competitive advantage 
E) is accurately described by all of the above 
A) refers to the customer's feeling that a product has met or exceeded expectations 
B) determines what kind of marketing strategy will be used 
C) is the same as customer value 
D) is only important to companies that have a differential competitive advantage 
E) is accurately described by all of the above

Question 10

When Clorox targets heavy users of bleach, it is using volume segmentation.

Accepted Answer

A) True 
 B)False

Question 11

The marketing concept:

Accepted Answer

A) achieves long-term organizational goals 
B) satisfies customer wants and needs legally and responsibly 
C) focuses on customer wants so the company can differentiate its product from its competition 
D) integrates all of the company's activities to satisfy customer wants 
E) does all of the above 
A) achieves long-term organizational goals 
B) satisfies customer wants and needs legally and responsibly 
C) focuses on customer wants so the company can differentiate its product from its competition 
D) integrates all of the company's activities to satisfy customer wants 
E) does all of the above

Question 12

A large, expensive capital product, such as the Corvette manufacturing plant in Kentucky and Cumberland Mall, is called a(n):

Accepted Answer

A) structural product 
B) installation 
C) integral part 
D) emplacement 
E) component part 
A) structural product 
B) installation 
C) integral part 
D) emplacement 
E) component part

Question 13

An _____ takes place when the consumer trades money for desired goods and services.

Accepted Answer

The answer of An _____ takes place when the consumer...

Question 14

Selling more rainwear in Seattle than in San Diego due to the annual rainfall is an example of which type of marketing segmentation?

Accepted Answer

A) psychographic 
B) demographic 
C) psychological 
D) geographic 
E) volume 
A) psychographic 
B) demographic 
C) psychological 
D) geographic 
E) volume

Question 15

A recent seminar on attracting retail customers addressed the following fact: "Time is on the mind of the consumer.If you ask anybody you know, 'Would you rather have an extra day off or an extra day's pay?' people in America would take the time off 2-to-1." This topic indicates that these retailers supported a need for more _____ segmentation to reach the time-poor consumer.

Accepted Answer

A) psychographic 
B) geographic 
C) benefit 
D) volume 
E) concentrated 
A) psychographic 
B) geographic 
C) benefit 
D) volume 
E) concentrated

Question 16

_____ involves creating a unique marketing mix for every consumer.

Accepted Answer

A) Niche marketing 
B) One-to-one marketing 
C) Aggregated marketing 
D) Macromarketing 
E) Flexible marketing 
A) Niche marketing 
B) One-to-one marketing 
C) Aggregated marketing 
D) Macromarketing 
E) Flexible marketing

Question 17

Products that are bought after comparing price, suitability, quality, and style are called _____ products.

Accepted Answer

A) shopping 
B) specialty 
C) sought 
D) generic 
E) comparative 
A) shopping 
B) specialty 
C) sought 
D) generic 
E) comparative

Question 18

Finding a place to live in Mumbai, India, has been getting harder these days for people who are not vegetarians.Vegetarianism is a centuries-old custom among the Indian population, but the requirement is becoming more obvious as non-vegs are being segregated from vegs.This is important consumer information to a McDonald's franchisee and reflects how _____ shapes consumer behavior.

Accepted Answer

A) consumer expectation 
B) stimulus reaction 
C) culture 
D) geographic segmentation 
E) consumer impulse 
A) consumer expectation 
B) stimulus reaction 
C) culture 
D) geographic segmentation 
E) consumer impulse

Question 19

Maria Manow is planning to sell handmade quilts over the Internet.As she decides what to charge for a full-sized quilt, Manow will calculate her fixed and variable costs.At this point, Manow will be developing her _____ strategy.

Accepted Answer

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

Question 20

A basic form of market segmentation that uses such variables as age, education, and income is called:

Accepted Answer

A) benefit 
B) demographic 
C) psychographic 
D) population 
E) none of the above 
A) benefit 
B) demographic 
C) psychographic 
D) population 
E) none of the above

The two types of business products are classified as expense and non-expense items.

Reality television shows are often designed to appeal to people who would themselves like to appear on television.What is the collective term for this group of viewers?

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

A _____ product is a product for which consumers may search long and hard and for which they refuse to accept substitutes.

The idea behind bundling is to reach a segment of the market that would not be reached as effectively if the product were sold separately.

The _____ is the person who develops and implements a complete strategy and marketing program for a specific product or brand.

Expense items that have undergone little or no processing and are used in the manufacture of end products are called:

_____ is the set of values, ideas, attitudes, and symbols created to shape human behavior.

Customer satisfaction:

When Clorox targets heavy users of bleach, it is using volume segmentation.

The marketing concept:

A large, expensive capital product, such as the Corvette manufacturing plant in Kentucky and Cumberland Mall, is called a(n):

An _____ takes place when the consumer trades money for desired goods and services.

Selling more rainwear in Seattle than in San Diego due to the annual rainfall is an example of which type of marketing segmentation?

_____ involves creating a unique marketing mix for every consumer.

Products that are bought after comparing price, suitability, quality, and style are called _____ products.

Maria Manow is planning to sell handmade quilts over the Internet.As she decides what to charge for a full-sized quilt, Manow will calculate her fixed and variable costs.At this point, Manow will be developing her _____ strategy.

A basic form of market segmentation that uses such variables as age, education, and income is called:

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

The two types of business products are classified as expense and non-expense items.

Reality television shows are often designed to appeal to people who would themselves like to appear on television.What is the collective term for this group of viewers?

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

A _____ product is a product for which consumers may search long and hard and for which they refuse to accept substitutes.

The idea behind bundling is to reach a segment of the market that would not be reached as effectively if the product were sold separately.

The _____ is the person who develops and implements a complete strategy and marketing program for a specific product or brand.

Expense items that have undergone little or no processing and are used in the manufacture of end products are called:

_____ is the set of values, ideas, attitudes, and symbols created to shape human behavior.

Customer satisfaction:

When Clorox targets heavy users of bleach, it is using volume segmentation.

The marketing concept:

A large, expensive capital product, such as the Corvette manufacturing plant in Kentucky and Cumberland Mall, is called a(n):

An _____ takes place when the consumer trades money for desired goods and services.

Selling more rainwear in Seattle than in San Diego due to the annual rainfall is an example of which type of marketing segmentation?

_____ involves creating a unique marketing mix for every consumer.

Products that are bought after comparing price, suitability, quality, and style are called _____ products.

Maria Manow is planning to sell handmade quilts over the Internet.As she decides what to charge for a full-sized quilt, Manow will calculate her fixed and variable costs.At this point, Manow will be developing her _____ strategy.

A basic form of market segmentation that uses such variables as age, education, and income is called:

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