Question 1

Discuss 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.

Question 2

Discuss the concept of planned obsolescence.

Accepted Answer

Answers will vary. Planned obsolescence is a term commonly used to describe the practice of modifying products so that those that have already been sold become obsolete before they actually need replacement. For example, products such as printers and cell phones become obsolete because technology changes so quickly.Some argue that planned obsolescence is wasteful; some claim it is unethical. Marketers respond that consumers favor style modifications because they like changes in the appearance of goods such as clothing and cars. Marketers also contend that consumers, not manufacturers and marketers, decide when styles are obsolete.

Question 3

In the context of product modification, reducing a product's quality:

Accepted Answer

A) provides new opportunities for market segmentation. 
B) lets a manufacturer lower the price of the product. 
C) results in increased brand loyalty or new opportunities for market segmentation. 
D) helps firms cater to the upper classes effectively. 
A) provides new opportunities for market segmentation. 
B) lets a manufacturer lower the price of the product. 
C) results in increased brand loyalty or new opportunities for market segmentation. 
D) helps firms cater to the upper classes effectively. B

Question 4

Which of the following statements is true of product lines?

Accepted Answer

A) They limit the product choices offered to customers to one or two product items. 
B) They provide economies of scale in advertising. 
C) They require greater transportation and warehousing costs than product items. 
D) They increase a firm's manufacturing and inventory costs. 
A) They limit the product choices offered to customers to one or two product items. 
B) They provide economies of scale in advertising. 
C) They require greater transportation and warehousing costs than product items. 
D) They increase a firm's manufacturing and inventory costs.

Question 5

Each product item in the product mix may require a separate marketing strategy.

Accepted Answer

A) True 
 B)False

Question 6

The three aspects of packaging that are especially important in international marketing are product line extension, product mix width, and brand equity.

Accepted Answer

A) True 
 B)False

Question 7

Three Arrows Inc. is a company that manufactures bags from recycled paper. Its marketers receive complaints that the bags get wet easily and tear after a few weeks of use. They decide to respond to their customers' complaints 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 8

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

Accepted Answer

Answers will vary. Convenience products

Question 9

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

Accepted Answer

Answers will vary. The product offering,

Question 10

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

Accepted Answer

A) It prohibits other firms from using a brand or part of a brand without permission. 
B) It gives the impression of environmental friendliness to a product. 
C) It ranges from simple statements to extensive documents written in technical language. 
D) It comes with the sale of every product under the Uniform Commercial Code. 
A) It prohibits other firms from using a brand or part of a brand without permission. 
B) It gives the impression of environmental friendliness to a product. 
C) It ranges from simple statements to extensive documents written in technical language. 
D) It comes with the sale of every product under the Uniform Commercial Code.

Question 11

Specialty products normally require wide distribution in order to sell sufficient quantities to meet profit goals.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

The most obvious function of packaging is to:

Accepted Answer

A) secure the right of a company to use a brand or part of a brand. 
B) protect a brand name from being declared a generic product name. 
C) even out seasonal sales patterns. 
D) contain products that are liquid, granular, or otherwise divisible. 
A) secure the right of a company to use a brand or part of a brand. 
B) protect a brand name from being declared a generic product name. 
C) even out seasonal sales patterns. 
D) contain products that are liquid, granular, or otherwise divisible.

Question 14

Most major furniture manufacturers affix labels to their wares that explain the products' construction features, such as type of frame, number of coils, and fabric characteristics. This form of labeling is an example of _____.

Accepted Answer

A) informational labeling 
B) persuasive labeling 
C) grade labeling 
D) promotional labeling 
A) informational labeling 
B) persuasive labeling 
C) grade labeling 
D) promotional labeling

Question 15

Which of the following statements is true of trademarks?

Accepted Answer

A) Trademark rights are effective from the date of registration. 
B) Rights to trademarks are also given to generic product names. 
C) Trademark protection must be renewed every year. 
D) Rights to trademarks last as long as the mark is used. 
A) Trademark rights are effective from the date of registration. 
B) Rights to trademarks are also given to generic product names. 
C) Trademark protection must be renewed every year. 
D) Rights to trademarks last as long as the mark is used.

Question 16

Which of the following statements is true of a specialty product?

Accepted Answer

A) It is widely distributed in a geographic area so that sufficient quantities can be sold. 
B) It is marketed using selective, status-conscious advertising to maintain its exclusive image. 
C) It is easily substituted with products that have the same features. 
D) It is unknown to a potential buyer or a known product that the buyer does not actively seek. 
A) It is widely distributed in a geographic area so that sufficient quantities can be sold. 
B) It is marketed using selective, status-conscious advertising to maintain its exclusive image. 
C) It is easily substituted with products that have the same features. 
D) It is unknown to a potential buyer or a known product that the buyer does not actively seek.

Question 17

The key distinction between consumer products and business products is their intended use.

Accepted Answer

A) True 
 B)False

Question 18

Yater's Inc. is a food and beverage company based in the United States. The company decides to market and sell its products in all European countries under the same brand name. In this scenario, Yater's Inc. has decided to use a(n) _____.

Accepted Answer

A) transactional marketing strategy 
B) co-branding strategy 
C) one-brand-name strategy 
D) individual branding strategy 
A) transactional marketing strategy 
B) co-branding strategy 
C) one-brand-name strategy 
D) individual branding strategy

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Define express warranty and implied warranty.

Accepted Answer

Answers will vary. An express warranty i

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

Discuss the concept of planned obsolescence.

In the context of product modification, reducing a product's quality:

Which of the following statements is true of product lines?

Each product item in the product mix may require a separate marketing strategy.

The three aspects of packaging that are especially important in international marketing are product line extension, product mix width, and brand equity.

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

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

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

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

Specialty products normally require wide distribution in order to sell sufficient quantities to meet profit goals.

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

The most obvious function of packaging is to:

Most major furniture manufacturers affix labels to their wares that explain the products' construction features, such as type of frame, number of coils, and fabric characteristics. This form of labeling is an example of _____.

Which of the following statements is true of trademarks?

Which of the following statements is true of a specialty product?

The key distinction between consumer products and business products is their intended use.

Yater's Inc. is a food and beverage company based in the United States. The company decides to market and sell its products in all European countries under the same brand name. In this scenario, Yater's Inc. has decided to use a(n) _____.

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

Define express warranty and implied warranty.

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

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

Discuss the concept of planned obsolescence.

In the context of product modification, reducing a product's quality:

Which of the following statements is true of product lines?

Each product item in the product mix may require a separate marketing strategy.

The three aspects of packaging that are especially important in international marketing are product line extension, product mix width, and brand equity.

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

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

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

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

Specialty products normally require wide distribution in order to sell sufficient quantities to meet profit goals.

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

The most obvious function of packaging is to:

Most major furniture manufacturers affix labels to their wares that explain the products' construction features, such as type of frame, number of coils, and fabric characteristics. This form of labeling is an example of _____.

Which of the following statements is true of trademarks?

Which of the following statements is true of a specialty product?

The key distinction between consumer products and business products is their intended use.

Yater's Inc. is a food and beverage company based in the United States. The company decides to market and sell its products in all European countries under the same brand name. In this scenario, Yater's Inc. has decided to use a(n) _____.

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

Define express warranty and implied warranty.

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