Question 1

Stereos, tires, business suits, and furniture are examples of ________ goods.

Accepted Answer

A)  convenience 
B)  impulse 
C)  coincidental 
D)  shopping 
E)  specialty 
A)  convenience 
B)  impulse 
C)  coincidental 
D)  shopping 
E)  specialty

Question 2

What are primary data?

Accepted Answer

Primary data are dat

Question 3

The primary way to distinguish consumer goods from industrial goods is by considering the "place" element of the marketing mix.

Accepted Answer

A) True 
 B)False

Question 4

Products which are purchased by end users for their personal use are ________ goods, while products which are purchased by companies for production purposes are ________ goods.

Accepted Answer

A)  industrial; consumer 
B)  capital; accessory 
C)  consumer; industrial 
D)  high utility; low utility 
E)  none of these 
A)  industrial; consumer 
B)  capital; accessory 
C)  consumer; industrial 
D)  high utility; low utility 
E)  none of these

Question 5

List the four stages in the product life cycle.

Accepted Answer

Introducti

Question 6

The ________ is a good, service, or idea that is marketed to fill consumer needs and wants.

Accepted Answer

A)  product 
B)  place 
C)  profit 
D)  promotion 
E)  price 
A)  product 
B)  place 
C)  profit 
D)  promotion 
E)  price

Question 7

What is the purpose of the screening stage of the product development process?

Accepted Answer

A)  To identify potential production problems 
B)  To identify the benefits which consumers want 
C)  To actively seek out ideas for new products 
D)  To eliminate all ideas that do not mesh with the firm's objectives, abilities, or expertise 
E)  To compare costs and benefits of the proposed product 
A)  To identify potential production problems 
B)  To identify the benefits which consumers want 
C)  To actively seek out ideas for new products 
D)  To eliminate all ideas that do not mesh with the firm's objectives, abilities, or expertise 
E)  To compare costs and benefits of the proposed product

Question 8

What results are expected from a successful product differentiation program?

Accepted Answer

A)  The manner in which the product functions must be changed. 
B)  Differentiation requires that prices be mid-level in order to generate a high volume of sales. 
C)  Customer response to the product will change. 
D)  Differentiation requires that prices be high in order to generate a high volume of sales. 
E)  Promotional plans will not change. 
A)  The manner in which the product functions must be changed. 
B)  Differentiation requires that prices be mid-level in order to generate a high volume of sales. 
C)  Customer response to the product will change. 
D)  Differentiation requires that prices be high in order to generate a high volume of sales. 
E)  Promotional plans will not change.

Question 9

Which term is used to identify the division of a market into categories of customer types?

Accepted Answer

A)  Industrial marketing 
B)  Marketing mix 
C)  Customer marketing 
D)  Market segmentation 
E)  Market de-categorization 
A)  Industrial marketing 
B)  Marketing mix 
C)  Customer marketing 
D)  Market segmentation 
E)  Market de-categorization

Question 10

Diamond rings, Rolex watches, Godiva chocolates, and Rolls Royces are examples of

Accepted Answer

A)  a product mix. 
B)  convenience goods. 
C)  shopping goods. 
D)  a product line. 
E)  specialty goods. 
A)  a product mix. 
B)  convenience goods. 
C)  shopping goods. 
D)  a product line. 
E)  specialty goods.

Question 11

What is marketing?

Accepted Answer

Marketing is the process of planning and

Question 12

When is market research used most frequently?

Accepted Answer

A)  When a new or altered product is being considered 
B)  When a product is out of stock 
C)  When the promotional campaign is first under way 
D)  When the product is fully stocked in each of the distribution centres 
E)  When determining the reason for a product's failure 
A)  When a new or altered product is being considered 
B)  When a product is out of stock 
C)  When the promotional campaign is first under way 
D)  When the product is fully stocked in each of the distribution centres 
E)  When determining the reason for a product's failure

Question 13

What is a target market? Briefly explain how a well-defined target market is important to a company.

Accepted Answer

A target market is any group of people w

Question 14

Purple Moon markets adventure software to pre-teen girls. This is an example of

Accepted Answer

A)  relationship marketing. 
B)  mass customization. 
C)  product differentiation. 
D)  customer identification. 
E)  market segmentation. 
A)  relationship marketing. 
B)  mass customization. 
C)  product differentiation. 
D)  customer identification. 
E)  market segmentation.

Question 15

Ford offers four different models of the Escort which run the gamut from the three-door sport model to the five-door sedan. This represents

Accepted Answer

A)  a product offering. 
B)  multiple product lines. 
C)  a product line. 
D)  a product blend. 
E)  a product mix. 
A)  a product offering. 
B)  multiple product lines. 
C)  a product line. 
D)  a product blend. 
E)  a product mix.

Question 16

Which category of influences on consumer behaviour includes ethnic groups, social class, occupation, and income?

Accepted Answer

A)  Past experience 
B)  Psychological 
C)  Social 
D)  Cultural 
E)  Personal 
A)  Past experience 
B)  Psychological 
C)  Social 
D)  Cultural 
E)  Personal

Question 17

What is market segmentation and why is it important?

Accepted Answer

The process of dividing a mark

Question 18

Which of the following is a convenience service?

Accepted Answer

A)  A limousine ride from the restaurant to senior prom 
B)  Catering for a wedding reception 
C)  A haircut at one of Great Clips' 3000 quick-service salons 
D)  A hotel room next door to the convention you're attending 
E)  The daily newspaper 
A)  A limousine ride from the restaurant to senior prom 
B)  Catering for a wedding reception 
C)  A haircut at one of Great Clips' 3000 quick-service salons 
D)  A hotel room next door to the convention you're attending 
E)  The daily newspaper

Question 19

Target markets are first defined by customers, then by product.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is correct with regard to packaging?

Accepted Answer

A)  Fresh fruit and structural steel do not really need much packaging. 
B)  The function of packaging is limited to product protection. 
C)  Packaging does not provide advertising or promotion for products. 
D)  Packaging costs can be as high as 50 percent of the total cost to make a product. 
E)  All of these are correct. 
A)  Fresh fruit and structural steel do not really need much packaging. 
B)  The function of packaging is limited to product protection. 
C)  Packaging does not provide advertising or promotion for products. 
D)  Packaging costs can be as high as 50 percent of the total cost to make a product. 
E)  All of these are correct.

Stereos, tires, business suits, and furniture are examples of ________ goods.

What are primary data?

The primary way to distinguish consumer goods from industrial goods is by considering the "place" element of the marketing mix.

Products which are purchased by end users for their personal use are goods, while products which are purchased by companies for production purposes are goods.

List the four stages in the product life cycle.

The ________ is a good, service, or idea that is marketed to fill consumer needs and wants.

What is the purpose of the screening stage of the product development process?

What results are expected from a successful product differentiation program?

Which term is used to identify the division of a market into categories of customer types?

Diamond rings, Rolex watches, Godiva chocolates, and Rolls Royces are examples of

What is marketing?

When is market research used most frequently?

What is a target market? Briefly explain how a well-defined target market is important to a company.

Purple Moon markets adventure software to pre-teen girls. This is an example of

Ford offers four different models of the Escort which run the gamut from the three-door sport model to the five-door sedan. This represents

Which category of influences on consumer behaviour includes ethnic groups, social class, occupation, and income?

What is market segmentation and why is it important?

Which of the following is a convenience service?

Target markets are first defined by customers, then by product.

Which of the following is correct with regard to packaging?

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship, Small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating, Satisfying, and Leading Employees

Operations Management, Productivity, and Quality

Understanding Accounting

Pricing, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

Filters

Exam 12: Understanding Marketing Principles and Developing Products

Stereos, tires, business suits, and furniture are examples of ________ goods.

What are primary data?

The primary way to distinguish consumer goods from industrial goods is by considering the "place" element of the marketing mix.

Products which are purchased by end users for their personal use are ________ goods, while products which are purchased by companies for production purposes are ________ goods.

List the four stages in the product life cycle.

The ________ is a good, service, or idea that is marketed to fill consumer needs and wants.

What is the purpose of the screening stage of the product development process?

What results are expected from a successful product differentiation program?

Which term is used to identify the division of a market into categories of customer types?

Diamond rings, Rolex watches, Godiva chocolates, and Rolls Royces are examples of

What is marketing?

When is market research used most frequently?

What is a target market? Briefly explain how a well-defined target market is important to a company.

Purple Moon markets adventure software to pre-teen girls. This is an example of

Ford offers four different models of the Escort which run the gamut from the three-door sport model to the five-door sedan. This represents

Which category of influences on consumer behaviour includes ethnic groups, social class, occupation, and income?

What is market segmentation and why is it important?

Which of the following is a convenience service?

Target markets are first defined by customers, then by product.

Which of the following is correct with regard to packaging?

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship, Small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating, Satisfying, and Leading Employees

Operations Management, Productivity, and Quality

Understanding Accounting

Pricing, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

Filters

Products which are purchased by end users for their personal use are goods, while products which are purchased by companies for production purposes are goods.