Question 1

According to the text, a product is defined as

Accepted Answer

A) anything the customer receives in an exchange. 
B) the physical object the customer receives in an exchange. 
C) the service that is rendered to a customer. 
D) the idea that the customer receives in an exchange. 
E) goods and services the customer receives in an exchange. 
A) anything the customer receives in an exchange. 
B) the physical object the customer receives in an exchange. 
C) the service that is rendered to a customer. 
D) the idea that the customer receives in an exchange. 
E) goods and services the customer receives in an exchange.

Question 2

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 3

Sometimes new marketing channels open up in the decline stage.

Accepted Answer

A) True 
 B)False

Question 4

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 5

Aggressive pricing is typical during the ____ stage of the product life cycle.

Accepted Answer

A) decline 
B) growth 
C) introduction 
D) plateau 
E) stabilization 
A) decline 
B) growth 
C) introduction 
D) plateau 
E) stabilization

Question 6

Intense price wars are likely to occur during the growth stage of the product life cycle as competitors attempt to gain market share.

Accepted Answer

A) True 
 B)False

Question 7

Discuss the implications for a firm's marketing strategy of classifying a product as a convenience, shopping, specialty, or unsought item.

Accepted Answer

The answer of Discuss the implications for a firm's marketing...

Question 8

Consumers are reluctant to purchase substitute brands if a desired brand of a convenience product is unattainable.

Accepted Answer

A) True 
 B)False

Question 9

The Carsons are going on a vacation back to Texas. When they lived there, Gwen Carson loved Blue Bell Cookies. Blue Bell is sold only in Texas. She plans to buy two boxes at the first store she visits after they arrive. For Gwen, Blue Bell represents a(n) ____ product.

Accepted Answer

A) convenience 
B) shopping 
C) specialty 
D) unsought 
E) durable 
A) convenience 
B) shopping 
C) specialty 
D) unsought 
E) durable

Question 10

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 11

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 12

Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products.

Accepted Answer

A) shopping 
B) specialty 
C) service 
D) convenience 
E) unsought 
A) shopping 
B) specialty 
C) service 
D) convenience 
E) unsought

Question 13

Trial is the first stage of the product adoption process.

Accepted Answer

A) True 
 B)False

Question 14

Service, repair work, and accessories may be important considerations in a consumer's decision to purchase a particular shopping product.

Accepted Answer

A) True 
 B)False

Question 15

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. The closest competitor for Megabus is Greyhound Lines. Greyhound Lines has been n business for many years, offering basic transportation services until the introduction of their new BoldBus and NeOn. Even though both companies are in the bus transportation business, Greyhound Lines is most likely in the ____ stage of the product life cycle, while Megabus is in the _____ stage.

Accepted Answer

A) Maturity; Introduction 
B) Maturity; Growth 
C) Growth; Maturity 
D) Growth; Decline 
E) Decline; Growth 
A) Maturity; Introduction 
B) Maturity; Growth 
C) Growth; Maturity 
D) Growth; Decline 
E) Decline; Growth

Question 16

When Sony realized its CD players were in the decline stage, it decided to immediately withdraw all of its marketing support from these declining products, an approach known as

Accepted Answer

A) harvesting. 
B) divesting. 
C) reinvesting. 
D) realigning. 
E) squashing. 
A) harvesting. 
B) divesting. 
C) reinvesting. 
D) realigning. 
E) squashing.

Question 17

A seller's profits peak in the maturity stage of a product's life cycle.

Accepted Answer

A) True 
 B)False

Question 18

Business products are

Accepted Answer

A) purchased for personal consumption. 
B) chosen on the basis of preferences expressed by a business procurement department. 
C) purchased for both their functional aspects and their psychological rewards. 
D) classified according to their characteristics and intended uses. 
E) not purchased by nonbusiness organizations. 
A) purchased for personal consumption. 
B) chosen on the basis of preferences expressed by a business procurement department. 
C) purchased for both their functional aspects and their psychological rewards. 
D) classified according to their characteristics and intended uses. 
E) not purchased by nonbusiness organizations.

Question 19

As Jessica enters Audio Jetz car electronics department, she is asked by the salesperson if she has seen the new plug-in cell phones with coffee-warming app. She answers that she didn't know that this type of app for cars was available. Based on this information, she is now in what stage of the product adoption process for this item?

Accepted Answer

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

Question 20

A buyer becomes aware of the product during the evaluation phase of the product adoption process.

Accepted Answer

A) True 
 B)False

According to the text, a product is defined as

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

Sometimes new marketing channels open up in the decline stage.

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

Aggressive pricing is typical during the ____ stage of the product life cycle.

Intense price wars are likely to occur during the growth stage of the product life cycle as competitors attempt to gain market share.

Discuss the implications for a firm's marketing strategy of classifying a product as a convenience, shopping, specialty, or unsought item.

Consumers are reluctant to purchase substitute brands if a desired brand of a convenience product is unattainable.

The Carsons are going on a vacation back to Texas. When they lived there, Gwen Carson loved Blue Bell Cookies. Blue Bell is sold only in Texas. She plans to buy two boxes at the first store she visits after they arrive. For Gwen, Blue Bell represents a(n) ____ product.

The difference between absolute and relative product failure is

Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products.

Trial is the first stage of the product adoption process.

Service, repair work, and accessories may be important considerations in a consumer's decision to purchase a particular shopping product.

When Sony realized its CD players were in the decline stage, it decided to immediately withdraw all of its marketing support from these declining products, an approach known as

A seller's profits peak in the maturity stage of a product's life cycle.

Business products are

A buyer becomes aware of the product during the evaluation phase of the 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

According to the text, a product is defined as

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

Sometimes new marketing channels open up in the decline stage.

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

Aggressive pricing is typical during the ____ stage of the product life cycle.

Intense price wars are likely to occur during the growth stage of the product life cycle as competitors attempt to gain market share.

Discuss the implications for a firm's marketing strategy of classifying a product as a convenience, shopping, specialty, or unsought item.

Consumers are reluctant to purchase substitute brands if a desired brand of a convenience product is unattainable.

The Carsons are going on a vacation back to Texas. When they lived there, Gwen Carson loved Blue Bell Cookies. Blue Bell is sold only in Texas. She plans to buy two boxes at the first store she visits after they arrive. For Gwen, Blue Bell represents a(n) ____ product.

The difference between absolute and relative product failure is

Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products.

Trial is the first stage of the product adoption process.

Service, repair work, and accessories may be important considerations in a consumer's decision to purchase a particular shopping product.

When Sony realized its CD players were in the decline stage, it decided to immediately withdraw all of its marketing support from these declining products, an approach known as

A seller's profits peak in the maturity stage of a product's life cycle.

Business products are

A buyer becomes aware of the product during the evaluation phase of the 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