Question 1

Convenience products are

Accepted Answer

A) relatively inexpensive,frequently purchased items for which buyers exert only minimal purchasing effort. 
B) frequently purchased items for which buyers are willing to exert considerable effort. 
C) frequently purchased items that are found in certain retail outlets. 
D) items that are expensive but are easy to purchase. 
E) items that require some purchase planning and for which the buyer often will not accept substitutes. 
A) relatively inexpensive,frequently purchased items for which buyers exert only minimal purchasing effort. 
B) frequently purchased items for which buyers are willing to exert considerable effort. 
C) frequently purchased items that are found in certain retail outlets. 
D) items that are expensive but are easy to purchase. 
E) items that require some purchase planning and for which the buyer often will not accept substitutes.

Question 2

A service is intangible and is the result of the application of human or mechanical efforts to people or objects.

Accepted Answer

A) True 
 B)False

Question 3

When banks add new services during the maturity stage,the objective they are most likely trying to achieve is

Accepted Answer

A) pruning items from the product line. 
B) generating cash flow. 
C) maintaining their market share. 
D) filling geographic gaps. 
E) increasing their share of the customer. 
A) pruning items from the product line. 
B) generating cash flow. 
C) maintaining their market share. 
D) filling geographic gaps. 
E) increasing their share of the customer.

Question 4

The buyer's intent can determine whether an item is classified as a consumer or a business product.

Accepted Answer

A) True 
 B)False

Question 5

Minerals,chemicals,timber,and agricultural products are considered

Accepted Answer

A) process materials. 
B) accessory materials. 
C) MRO supplies. 
D) component parts. 
E) raw materials. 
A) process materials. 
B) accessory materials. 
C) MRO supplies. 
D) component parts. 
E) raw materials.

Question 6

During a product's maturity stage,all sales promotion efforts are focused on consumers.

Accepted Answer

A) True 
 B)False

Question 7

Identify the major stages of the product life cycle,and explain how industry sales and profits vary across these stages.

Accepted Answer

The answer of Identify the major stages of the product...

Question 8

To make intangible products more tangible or real to the consumer,marketers often

Accepted Answer

A) use low prices on intangible goods. 
B) use symbols or cues to help symbolize product benefits. 
C) use external reference prices. 
D) use multiple channels of distribution. 
E) offer more support services with such products. 
A) use low prices on intangible goods. 
B) use symbols or cues to help symbolize product benefits. 
C) use external reference prices. 
D) use multiple channels of distribution. 
E) offer more support services with such products.

Question 9

Scenario 11.1
Use the following to answer the questions.
Gillette shaving razors were first manufactured in 1895.Over the years,Gillette made improvements on their razors offering many "firsts" such as the Mach3,the Sensor,and the Fusion.For many years,women were forced to use razors designed primarily for men,but often marketed to women by offering them in different colors and with minimal modifications.In 1998 Gillette developed the Venus razor,based on the Mach3 but made specifically for women.Gillette promoted the Venus razor heavily,with television ads and other forms of media.The Gillette product line,now owned by Procter & Gamble,continues to introduce new versions of the Venus,such as the Venus Embrace,which has additional blades and other modifications.
-Refer to Scenario 11.1.Tasha is shopping for personal care items at her local Target.She walks by one aisle and sees a floor-standing display for the new Venus Embrace.She hadn't thought about buying a new razor,but the display has caught her attention.Which stage of the product adoption process is Tasha most likely in at the present time?

Accepted Answer

A) awareness 
B) attention 
C) evaluation 
D) trial 
E) adoption 
A) awareness 
B) attention 
C) evaluation 
D) trial 
E) adoption

Question 10

The difference between absolute and relative product failure is

Accepted Answer

A) absolute product failure can be fixed by repositioning or improving the product,whereas relative product failure is permanent. 
B) relative product failure loses money on its investment,whereas absolute product failure returns a small profit. 
C) relative product failure is the result of poor timing,whereas absolute product failure is the result of the lack of the ability to provide benefits that satisfy customers' desires. 
D) absolute product failure is caused by design problems,whereas relative product failure is caused by poor promotion or distribution. 
E) absolute product failure results in a loss on the investment and is deleted from the product mix,whereas relative product failure results in a small profit,and improvements or repositioning can create success later. 
A) absolute product failure can be fixed by repositioning or improving the product,whereas relative product failure is permanent. 
B) relative product failure loses money on its investment,whereas absolute product failure returns a small profit. 
C) relative product failure is the result of poor timing,whereas absolute product failure is the result of the lack of the ability to provide benefits that satisfy customers' desires. 
D) absolute product failure is caused by design problems,whereas relative product failure is caused by poor promotion or distribution. 
E) absolute product failure results in a loss on the investment and is deleted from the product mix,whereas relative product failure results in a small profit,and improvements or repositioning can create success later.

Question 11

Early adopters are the first group of consumers to adopt a new product.

Accepted Answer

A) True 
 B)False

Question 12

Promotion decreases in importance during a product's decline stage.

Accepted Answer

A) True 
 B)False

Question 13

Discuss the concept of "sustainability" and how it is related to product decisions.

Accepted Answer

Sustainability is the idea of meeting th

Question 14

Which stage in the product life cycle is critical to a product's survival because competitive reactions to the product's success during this period will affect the product's life expectancy?

Accepted Answer

A) Decline 
B) Expansion 
C) Growth 
D) Introduction 
E) Stabilization 
A) Decline 
B) Expansion 
C) Growth 
D) Introduction 
E) Stabilization

Question 15

Scenario 11.1
Use the following to answer the questions.
Gillette shaving razors were first manufactured in 1895.Over the years,Gillette made improvements on their razors offering many "firsts" such as the Mach3,the Sensor,and the Fusion.For many years,women were forced to use razors designed primarily for men,but often marketed to women by offering them in different colors and with minimal modifications.In 1998 Gillette developed the Venus razor,based on the Mach3 but made specifically for women.Gillette promoted the Venus razor heavily,with television ads and other forms of media.The Gillette product line,now owned by Procter & Gamble,continues to introduce new versions of the Venus,such as the Venus Embrace,which has additional blades and other modifications.
-Refer to Scenario 11.1.Shaving razors fall into which of the following classification of consumer products?

Accepted Answer

A) Convenience products 
B) Shopping products 
C) Substitute products 
D) Specialty products 
E) Accessory equipment 
A) Convenience products 
B) Shopping products 
C) Substitute products 
D) Specialty products 
E) Accessory equipment

Question 16

Buyers want to exert only minimal effort to obtain shopping products.

Accepted Answer

A) True 
 B)False

Question 17

Dish Network cut back advertising expenditures to minimum levels and reduced the number of channel members for its industrial satellite product.These actions indicate that its product is in the ____ stage of its life cycle.

Accepted Answer

A) introduction 
B) growth 
C) maturity 
D) early 
E) decline 
A) introduction 
B) growth 
C) maturity 
D) early 
E) decline

Question 18

As Beth and Rob search for a new home,they are interested only in houses built by a particular builder.This purchase is characteristic of a(n)____ product.

Accepted Answer

A) branded 
B) non-durable 
C) unique 
D) shopping 
E) specialty 
A) branded 
B) non-durable 
C) unique 
D) shopping 
E) specialty

Question 19

A product mix is the composite or total group of products that an organization makes available to customers.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following stages of the product life cycle is likely to see dealers offered promotional assistance from the producer?

Accepted Answer

A) Maturity 
B) Growth 
C) Introduction 
D) Market reduction 
E) Decline 
A) Maturity 
B) Growth 
C) Introduction 
D) Market reduction 
E) Decline

Convenience products are

A service is intangible and is the result of the application of human or mechanical efforts to people or objects.

When banks add new services during the maturity stage,the objective they are most likely trying to achieve is

The buyer's intent can determine whether an item is classified as a consumer or a business product.

Minerals,chemicals,timber,and agricultural products are considered

During a product's maturity stage,all sales promotion efforts are focused on consumers.

Identify the major stages of the product life cycle,and explain how industry sales and profits vary across these stages.

To make intangible products more tangible or real to the consumer,marketers often

The difference between absolute and relative product failure is

Early adopters are the first group of consumers to adopt a new product.

Promotion decreases in importance during a product's decline stage.

Discuss the concept of "sustainability" and how it is related to product decisions.

Which stage in the product life cycle is critical to a product's survival because competitive reactions to the product's success during this period will affect the product's life expectancy?

Buyers want to exert only minimal effort to obtain shopping products.

Dish Network cut back advertising expenditures to minimum levels and reduced the number of channel members for its industrial satellite product.These actions indicate that its product is in the ____ stage of its life cycle.

As Beth and Rob search for a new home,they are interested only in houses built by a particular builder.This purchase is characteristic of a(n)____ product.

A product mix is the composite or total group of products that an organization makes available to customers.

Which of the following stages of the product life cycle is likely to see dealers offered promotional assistance from the producer?

An Overview of Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets: Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Developing and Managing Products

Services Marketing

Branding and Packaging

Marketing Channels and Supply-Chain Management

Retailing, direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters

Exam 11: Product Concepts

Convenience products are

A service is intangible and is the result of the application of human or mechanical efforts to people or objects.

When banks add new services during the maturity stage,the objective they are most likely trying to achieve is

The buyer's intent can determine whether an item is classified as a consumer or a business product.

Minerals,chemicals,timber,and agricultural products are considered

During a product's maturity stage,all sales promotion efforts are focused on consumers.

Identify the major stages of the product life cycle,and explain how industry sales and profits vary across these stages.

To make intangible products more tangible or real to the consumer,marketers often

The difference between absolute and relative product failure is

Early adopters are the first group of consumers to adopt a new product.

Promotion decreases in importance during a product's decline stage.

Discuss the concept of "sustainability" and how it is related to product decisions.

Which stage in the product life cycle is critical to a product's survival because competitive reactions to the product's success during this period will affect the product's life expectancy?

Buyers want to exert only minimal effort to obtain shopping products.

Dish Network cut back advertising expenditures to minimum levels and reduced the number of channel members for its industrial satellite product.These actions indicate that its product is in the ____ stage of its life cycle.

As Beth and Rob search for a new home,they are interested only in houses built by a particular builder.This purchase is characteristic of a(n)____ product.

A product mix is the composite or total group of products that an organization makes available to customers.

Which of the following stages of the product life cycle is likely to see dealers offered promotional assistance from the producer?

An Overview of Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets: Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Developing and Managing Products

Services Marketing

Branding and Packaging

Marketing Channels and Supply-Chain Management

Retailing, direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters