Question 1

Tojitos Mexican Restaurant purchased several large ovens for use in remodeling its kitchens.These ovens are an example of which type of business product?

Accepted Answer

A) Raw materials 
B) Installations 
C) Accessory equipment 
D) Component parts 
E) Process materials 
A) Raw materials 
B) Installations 
C) Accessory equipment 
D) Component parts 
E) Process materials

Question 2

Procter & Gamble has a wider product mix than does Baskin Robbins.

Accepted Answer

A) True 
 B)False

Question 3

Scenario 11.2
Use the following to answer the questions.
Megabus is a bus line operating in the Northeast and Midwestern United States,plus in Canada.It offers travelers a cheap alternative to driving and flying between large cities,keeping the fares extremely low yet offering the latest technology.Unlike the traditional Greyhound Lines,Megabus is an express service,and is equipped with Wi-Fi,video screens,headsets,and seat belts.Many buses also run on biodiesel fuel.Additionally,Megabus picks up and drops off people in the centers of cities rather than at inconveniently-located terminals.Patrons can book tickets at Megabus.com,where some fares begin at just $1.Routes are limited,and are offered out of cities such as Toronto,New York,Baltimore,Philadelphia,and Chicago.Recently,its competitor Greyhound,has launched two new bus lines,BoltBus and NeOn,with similar fares and high-tech amenities.A fare on NeOn bus from Buffalo,NY to New York City is $50.00 roundtrip,while the same fare through Greyhound's traditional bus line costs $92.00.The benefit of Greyhound's traditional line is that there are more departure times and more stops in smaller towns along the way.
-Refer to Scenario 11.2.Casey is searching the website of Megabus.com for the schedule and fares of a trip between Buffalo,NY and New York City.Casey is most likely in which of the following stages of the product adoption process?

Accepted Answer

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

Question 4

The producers of Schick razor blades use a marketing strategy that includes large advertising expenditures and more price flexibility for the various types of blades offered.Based on this example,razor blades are in the ____ stage of the product life cycle.

Accepted Answer

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

Question 5

The depth of a product mix is measured by the average number of product types in a product line.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following tactics would typically be employed when a product is in the growth stage of its life cycle?

Accepted Answer

A) Lowering prices after developmental costs have been recovered 
B) Raising promotion expenditures as a percentage of total sales 
C) Moving from intensive to selective distribution 
D) Raising prices to encourage competitors to enter the market 
E) Reducing the number of product models in the product line 
A) Lowering prices after developmental costs have been recovered 
B) Raising promotion expenditures as a percentage of total sales 
C) Moving from intensive to selective distribution 
D) Raising prices to encourage competitors to enter the market 
E) Reducing the number of product models in the product line

Question 7

Describe and illustrate the four major categories of consumer products.

Accepted Answer

The answer of Describe and illustrate the four major categories...

Question 8

An individual moves into the adoption stage of the adoption process at the point when he or she

Accepted Answer

A) is self-motivated to get information about the product. 
B) begins using that specific product. 
C) seriously considers whether the product will satisfy his or her needs. 
D) experiences the product for the first time. 
E) becomes aware that the product exists. 
A) is self-motivated to get information about the product. 
B) begins using that specific product. 
C) seriously considers whether the product will satisfy his or her needs. 
D) experiences the product for the first time. 
E) becomes aware that the product exists.

Question 9

Ryan is on his way to work when he realizes he has a flat tire.He swings into Sam's Club and has a new tire installed.Ryan's purchase of a new tire in this situation is considered to be

Accepted Answer

A) a shopping good 
B) a convenience good 
C) an unsought good 
D) a specialty good 
E) an industrial good 
A) a shopping good 
B) a convenience good 
C) an unsought good 
D) a specialty good 
E) an industrial good

Question 10

The two major product categories are business and institutional.

Accepted Answer

A) True 
 B)False

Question 11

During the decline stage of the product life cycle,

Accepted Answer

A) sales rapidly decrease. 
B) market share is maintained. 
C) competition is at a peak. 
D) profits begin to fall. 
E) profits peak and then begin to decline. 
A) sales rapidly decrease. 
B) market share is maintained. 
C) competition is at a peak. 
D) profits begin to fall. 
E) profits peak and then begin to decline.

Question 12

Distinguish between consumer products and business products.

Accepted Answer

The answer of Distinguish between consumer products and business products....

Question 13

A product line is defined as

Accepted Answer

A) products that can be designated as a unique offering among the organization's products. 
B) products that an organization makes available to consumers. 
C) a group of closely related products that are considered a unit because of marketing,technical,or end-use considerations. 
D) a specific group of products that are offered to the market. 
E) products that are sold by the same firm or a division of a firm. 
A) products that can be designated as a unique offering among the organization's products. 
B) products that an organization makes available to consumers. 
C) a group of closely related products that are considered a unit because of marketing,technical,or end-use considerations. 
D) a specific group of products that are offered to the market. 
E) products that are sold by the same firm or a division of a firm.

Question 14

Discuss some of the issues a marketer should consider when marketing a shopping product.

Accepted Answer

The answer of Discuss some of the issues a marketer...

Question 15

Trial is the first stage of the product adoption process.

Accepted Answer

A) True 
 B)False

Question 16

Bread is usually a convenience product.

Accepted Answer

A) True 
 B)False

Question 17

Dannon Yogurt represents what type of product for most consumers?

Accepted Answer

A) Convenience 
B) Business 
C) Shopping 
D) Specialty 
E) Durable 
A) Convenience 
B) Business 
C) Shopping 
D) Specialty 
E) Durable

Question 18

An accountant buys a supply of pencils to be used in calculating the taxes of other business firms.Based on this information,pencils in this case would be considered what type of product?

Accepted Answer

A) Business 
B) Process materials 
C) Raw material 
D) Convenience 
E) Consumer 
A) Business 
B) Process materials 
C) Raw material 
D) Convenience 
E) Consumer

Question 19

When Jones' Soda launched its Turkey Gravy flavored soda,it was hoping to take advantage of the short-lived clear-products fad.By the time it launched the soda,the fad for quirky soda flavors had already waned,and customers were no longer clamoring for these type of products.The reason this product failed is

Accepted Answer

A) poor timing. 
B) the company's failure to match product offerings to customer needs. 
C) ineffective branding. 
D) design problems. 
E) overestimation of market size. 
A) poor timing. 
B) the company's failure to match product offerings to customer needs. 
C) ineffective branding. 
D) design problems. 
E) overestimation of market size.

Question 20

Which of the following is not a stage in the buyer's product adoption process?

Accepted Answer

A) Awareness 
B) Adoption 
C) Trial 
D) Exploration 
E) Interest 
A) Awareness 
B) Adoption 
C) Trial 
D) Exploration 
E) Interest

Tojitos Mexican Restaurant purchased several large ovens for use in remodeling its kitchens.These ovens are an example of which type of business product?

Procter & Gamble has a wider product mix than does Baskin Robbins.

The producers of Schick razor blades use a marketing strategy that includes large advertising expenditures and more price flexibility for the various types of blades offered.Based on this example,razor blades are in the ____ stage of the product life cycle.

The depth of a product mix is measured by the average number of product types in a product line.

Which of the following tactics would typically be employed when a product is in the growth stage of its life cycle?

Describe and illustrate the four major categories of consumer products.

An individual moves into the adoption stage of the adoption process at the point when he or she

Ryan is on his way to work when he realizes he has a flat tire.He swings into Sam's Club and has a new tire installed.Ryan's purchase of a new tire in this situation is considered to be

The two major product categories are business and institutional.

During the decline stage of the product life cycle,

Distinguish between consumer products and business products.

A product line is defined as

Discuss some of the issues a marketer should consider when marketing a shopping product.

Trial is the first stage of the product adoption process.

Bread is usually a convenience product.

Dannon Yogurt represents what type of product for most consumers?

An accountant buys a supply of pencils to be used in calculating the taxes of other business firms.Based on this information,pencils in this case would be considered what type of product?

Which of the following is not a stage in the buyer's product adoption process?

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

Tojitos Mexican Restaurant purchased several large ovens for use in remodeling its kitchens.These ovens are an example of which type of business product?

Procter & Gamble has a wider product mix than does Baskin Robbins.

The producers of Schick razor blades use a marketing strategy that includes large advertising expenditures and more price flexibility for the various types of blades offered.Based on this example,razor blades are in the ____ stage of the product life cycle.

The depth of a product mix is measured by the average number of product types in a product line.

Which of the following tactics would typically be employed when a product is in the growth stage of its life cycle?

Describe and illustrate the four major categories of consumer products.

An individual moves into the adoption stage of the adoption process at the point when he or she

Ryan is on his way to work when he realizes he has a flat tire.He swings into Sam's Club and has a new tire installed.Ryan's purchase of a new tire in this situation is considered to be

The two major product categories are business and institutional.

During the decline stage of the product life cycle,

Distinguish between consumer products and business products.

A product line is defined as

Discuss some of the issues a marketer should consider when marketing a shopping product.

Trial is the first stage of the product adoption process.

Bread is usually a convenience product.

Dannon Yogurt represents what type of product for most consumers?

An accountant buys a supply of pencils to be used in calculating the taxes of other business firms.Based on this information,pencils in this case would be considered what type of product?

Which of the following is not a stage in the buyer's product adoption process?

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