Question 1

Define express and implied warranty.

Accepted Answer

Answers will vary.An express warranty is a written guarantee.Express warranties range from simple statements-such as "100-percent cotton" (a guarantee of quality)and "complete satisfaction guaranteed" (a statement of performance)-to extensive documents written in technical language.
In contrast,an implied warranty is an unwritten guarantee that the good or service is fit for the purpose for which it was sold.All sales have an implied warranty under the Uniform Commercial Code.Please see the section "Product Warranties" for more information.

Question 2

Compare the four categories of consumer products with examples of each category.

Accepted Answer

Answers will vary.Convenience products are relatively inexpensive items that require little shopping effort.The products are bought regularly,usually without significant planning.Convenience products may include candy,soft drinks,aspirin,small hardware items,dry cleaning,car wash services,and so on.
Shopping products are usually more expensive than convenience products and are found in fewer stores.Consumers spend some effort comparing brands and stores.Shopping products may include washers,dryers,refrigerators,televisions,furniture,clothing,housing,choice of university,and so on.Specialty products are those exclusive items for which consumers are willing to search extensively.Consumers are extremely reluctant to accept substitutes for specialty products.Brand names and service quality are important.Fine watches,luxury cars,expensive stereo equipment,gourmet restaurants,and specialized medical services could all be considered specialty.products.Unsought products are those that the buyer does not know about or does not actively seek to buy. These products include insurance, burial plots, and other similar items. Please see the section "Types of Consumer Products" for more information.

Question 3

Describe the significance of product mix width and product line depth in marketing.

Accepted Answer

Answers will vary.Product mix width (or breadth)refers to the number of product lines an organization offers.Product line depth is the number of product items in a product line.Firms increase the width of their product mix to diversify risk.To generate sales and boost profits,firms spread risk across many product lines rather than depend on only one or two.Firms also widen their product mix to capitalize on established reputations.Firms increase the depth of their product lines to attract buyers with different preferences,to increase sales and profits by further segmenting the market,to capitalize on economies of scale in production and marketing,and to even out seasonal sales patterns. Please see the section "Product Items,Lines,and Mixes" for more information.

Question 4

A difference between informational labeling and persuasive labeling is that informational labeling:

Accepted Answer

A) ​focuses on a promotional theme or logo rather than consumer information. 
B) increases a consumer's cognitive dissonance after a purchase. 
C) helps a consumer make proper product selections when making a purchase. 
D) ​gives an impression of environmental friendliness to a product. 
A) ​focuses on a promotional theme or logo rather than consumer information. 
B) increases a consumer's cognitive dissonance after a purchase. 
C) helps a consumer make proper product selections when making a purchase. 
D) ​gives an impression of environmental friendliness to a product.

Question 5

Eve's Aura,a manufacturer of bath and beauty products,predominantly sells convenience products.Given this information,which of the following is a characteristic of Eve's Aura's products?

Accepted Answer

A) ​They are bought very rarely by consumers. 
B) They require wide distribution in order to sell sufficient quantities. 
C) They are purchased after more planning effort than specialty products. 
D) ​They will be more expensive than shopping products. 
A) ​They are bought very rarely by consumers. 
B) They require wide distribution in order to sell sufficient quantities. 
C) They are purchased after more planning effort than specialty products. 
D) ​They will be more expensive than shopping products.

Question 6

Identify a true statement about a product.

Accepted Answer

A) ​An excellent distribution channel can compensate for an inferior product. 
B) A consumer product and an industrial product is differentiated based on the price. 
C) It is the marketing mix that can be decided after choosing a promotion strategy. 
D) ​It is usually the starting point in creating a marketing mix for a market segment. 
A) ​An excellent distribution channel can compensate for an inferior product. 
B) A consumer product and an industrial product is differentiated based on the price. 
C) It is the marketing mix that can be decided after choosing a promotion strategy. 
D) ​It is usually the starting point in creating a marketing mix for a market segment.

Question 7

Which of the following statements is true of an express warranty?

Accepted Answer

A) ​It gives the impression of environmental friendliness to a product. 
B) It is an unwritten guarantee that a good or service is fit for the purpose for which it is sold. 
C) It prohibits other firms from using a brand or part of a brand without permission. 
D) It ranges from simple statements to extensive documents written in technical language.​ 
A) ​It gives the impression of environmental friendliness to a product. 
B) It is an unwritten guarantee that a good or service is fit for the purpose for which it is sold. 
C) It prohibits other firms from using a brand or part of a brand without permission. 
D) It ranges from simple statements to extensive documents written in technical language.​

Question 8

Dunchen Moo,a manufacturer of dairy products,sells a variety of milk powders,flavored whipped cream,and yogurts.It markets a number of yogurts including Dunchen All Natural,Dunchen Fruit on the Bottom,Dunchen Light & Fit,DunActive,and Dun-o-nino.The large variety of yogurts under the Dunchen brand are collectively an example of a _____.

Accepted Answer

A) ​market segment 
B) target market 
C) product mix 
D) ​product line 
A) ​market segment 
B) target market 
C) product mix 
D) ​product line

Question 9

Services and ideas are not considered products because they are intangible.

Accepted Answer

A) True 
 B)False

Question 10

The universal product codes (UPC)system and scanners are used in scanner-based research.

Accepted Answer

A) True 
 B)False

Question 11

_____ is designed to help consumers make proper product selections and lower their cognitive dissonance after a purchase.

Accepted Answer

A) ​Informational labeling 
B) Persuasive labeling 
C) Perspective labeling 
D) ​Promotional labeling 
A) ​Informational labeling 
B) Persuasive labeling 
C) Perspective labeling 
D) ​Promotional labeling

Question 12

Explain the importance of product offerings in creating a marketing mix.

Accepted Answer

Answers will vary.The product offering,t

Question 13

Greenwashing is the term used to describe industrial processes that cause pollution above the permissible limit set by the government.

Accepted Answer

A) True 
 B)False

Question 14

A _____ occurs when a company's management decides to add products to an existing product line in order to compete more broadly in the industry.

Accepted Answer

A) ​product line reeling 
B) product line extension 
C) product line classification 
D) ​product line contraction 
A) ​product line reeling 
B) product line extension 
C) product line classification 
D) ​product line contraction

Question 15

Which of the following statements is true of an organization's product mix?

Accepted Answer

A) ​Firms widen their product mix to capitalize on established reputations. 
B) A wide product mix decreases sales and profit-making potential. 
C) A wide product mix means that that the product line is deep. 
D) ​All product items in a product mix follow a standard marketing strategy. 
A) ​Firms widen their product mix to capitalize on established reputations. 
B) A wide product mix decreases sales and profit-making potential. 
C) A wide product mix means that that the product line is deep. 
D) ​All product items in a product mix follow a standard marketing strategy.

Question 16

Which of the following is a reason why many retailers are creating and promoting their own captive brands?

Accepted Answer

A) ​Captive brands carry evidence of a store's affiliation and are available everywhere. 
B) Captive brands are displayed separate from mainstream products in a store. 
C) This strategy allows retailers to ask a price similar or equal to manufacturers' brands. 
D) ​This strategy allows retailers to market private brands as inferior to manufacturers' brands. 
A) ​Captive brands carry evidence of a store's affiliation and are available everywhere. 
B) Captive brands are displayed separate from mainstream products in a store. 
C) This strategy allows retailers to ask a price similar or equal to manufacturers' brands. 
D) ​This strategy allows retailers to market private brands as inferior to manufacturers' brands.

Question 17

Insurance,burial plots,and similar items fall under the convenience products category.

Accepted Answer

A) True 
 B)False

Question 18

Lisa goes to an electronic goods store to purchase a washing machine.After comparing the various brands of washing machines available,their technical features,prices,and durability,she purchases one that is cheaper and smaller in size than the rest.In this case,Lisa purchases a _____.

Accepted Answer

A) ​shopping product 
B) business product 
C) specialty product 
D) ​convenience product 
A) ​shopping product 
B) business product 
C) specialty product 
D) ​convenience product

Question 19

Three Arrows Inc.is a company that manufactures bags from recycled paper.Its marketers receive complaints that the bags easily become wet and tear after a few weeks of use.They decide to respond to their customers' needs by using a thicker,waterproof paper.This is an example of _____.

Accepted Answer

A) ​product placement 
B) functional modification 
C) planned obsolescence 
D) ​quality modification 
A) ​product placement 
B) functional modification 
C) planned obsolescence 
D) ​quality modification

Question 20

Washers,dryers,refrigerators,and televisions are examples of unsought products.

Accepted Answer

A) True 
 B)False

Define express and implied warranty.

Compare the four categories of consumer products with examples of each category.

Describe the significance of product mix width and product line depth in marketing.

A difference between informational labeling and persuasive labeling is that informational labeling:

Eve's Aura,a manufacturer of bath and beauty products,predominantly sells convenience products.Given this information,which of the following is a characteristic of Eve's Aura's products?

Identify a true statement about a product.

Which of the following statements is true of an express warranty?

Services and ideas are not considered products because they are intangible.

The universal product codes (UPC)system and scanners are used in scanner-based research.

_____ is designed to help consumers make proper product selections and lower their cognitive dissonance after a purchase.

Explain the importance of product offerings in creating a marketing mix.

Greenwashing is the term used to describe industrial processes that cause pollution above the permissible limit set by the government.

A _____ occurs when a company's management decides to add products to an existing product line in order to compete more broadly in the industry.

Which of the following statements is true of an organization's product mix?

Which of the following is a reason why many retailers are creating and promoting their own captive brands?

Insurance,burial plots,and similar items fall under the convenience products category.

Lisa goes to an electronic goods store to purchase a washing machine.After comparing the various brands of washing machines available,their technical features,prices,and durability,she purchases one that is cheaper and smaller in size than the rest.In this case,Lisa purchases a _____.

Three Arrows Inc.is a company that manufactures bags from recycled paper.Its marketers receive complaints that the bags easily become wet and tear after a few weeks of use.They decide to respond to their customers' needs by using a thicker,waterproof paper.This is an example of _____.

Washers,dryers,refrigerators,and televisions are examples of unsought products.

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising, Public Relations and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters

Exam 10: Product Concepts

Define express and implied warranty.

Compare the four categories of consumer products with examples of each category.

Describe the significance of product mix width and product line depth in marketing.

A difference between informational labeling and persuasive labeling is that informational labeling:

Eve's Aura,a manufacturer of bath and beauty products,predominantly sells convenience products.Given this information,which of the following is a characteristic of Eve's Aura's products?

Identify a true statement about a product.

Which of the following statements is true of an express warranty?

Services and ideas are not considered products because they are intangible.

The universal product codes (UPC)system and scanners are used in scanner-based research.

_____ is designed to help consumers make proper product selections and lower their cognitive dissonance after a purchase.

Explain the importance of product offerings in creating a marketing mix.

Greenwashing is the term used to describe industrial processes that cause pollution above the permissible limit set by the government.

A _____ occurs when a company's management decides to add products to an existing product line in order to compete more broadly in the industry.

Which of the following statements is true of an organization's product mix?

Which of the following is a reason why many retailers are creating and promoting their own captive brands?

Insurance,burial plots,and similar items fall under the convenience products category.

Lisa goes to an electronic goods store to purchase a washing machine.After comparing the various brands of washing machines available,their technical features,prices,and durability,she purchases one that is cheaper and smaller in size than the rest.In this case,Lisa purchases a _____.

Three Arrows Inc.is a company that manufactures bags from recycled paper.Its marketers receive complaints that the bags easily become wet and tear after a few weeks of use.They decide to respond to their customers' needs by using a thicker,waterproof paper.This is an example of _____.

Washers,dryers,refrigerators,and televisions are examples of unsought products.

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising, Public Relations and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters