Exam 11: Product Concepts

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?

Per-unit gross margins on convenience products are relatively high.

Many products never get beyond the introduction stage.

Jose went skiing one weekend with several of his friends. While at the slope, Jose injured his leg and needed to see a doctor. Jose is likely going to view solutions to his problem as

A distributor of plumbing supplies purchases a desktop computer to aid in inventory control. This computer is an example of which type of business product?

Lindsay stops by the Safeway grocery, her preferred store, on the way home from work. She picks up her usual brand of laundry detergent and orange juice, but she sees that there are no more range-free eggs available. Lindsay is very concerned about the ethical treatment of animals and so she leaves Safeway and goes to another grocery to purchase the range-free eggs. Lindsay's purchase of the laundry detergent and orange juice would most likely be classified as _____ products. Her purchase of the eggs would most likely be classified as ______ products.

"Business Services" is not a category or type of business product.

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. What product(s) is Megabus marketing?

Accessory equipment becomes a part of the finished product.

Which of the following statements does not apply to convenience goods?

One of Cole's responsibilities as a marketing manager for a motorcycle parts manufacturer is to maintain market share. Cole believes that the company's products are most likely in the maturity stage of the product life cycle. In order to maintain market share, Cole should suggest that the company requires

What steps can be taken to reduce the risk of product failure?

A product mix is best described as

Business products that are purchased routinely, do not become part of finished goods, and are expense items rather than capital goods are called

"The people to check with" are the early adopters.

Describe and illustrate the four major categories of consumer products.

A product's classification can influence its price, distribution, and promotion.

The depth of a product mix is measured by the average number of

Communicating product benefits to consumers is very important in the introduction stage.

Heinz promoting its vinegar as an effective cleaner for wall, glass, kitchen, and bathroom surfaces would most likely be a strategy for the ____ stage of the product life cycle.