Question 1

Which of the following is the innovation that involves the greatest degree of change?

Accepted Answer

A)  concept change 
B)  cannibalization 
C)  context change 
D)  cosmetic change 
E)  style change 
A)  concept change 
B)  cannibalization 
C)  context change 
D)  cosmetic change 
E)  style change A

Question 2

Which stage in the PLC normally lasts longest?

Accepted Answer

A)  growth 
B)  decline 
C)  maturity 
D)  phase-in 
E)  adoption 
A)  growth 
B)  decline 
C)  maturity 
D)  phase-in 
E)  adoption C

Question 3

Which of the following is(are) examples of product mix depth?

Accepted Answer

A)  hamburger and cheeseburger 
B)  hamburger and apple pie 
C)  Coke and Diet Coke 
D)  A and C 
E)  all of the above 
A)  hamburger and cheeseburger 
B)  hamburger and apple pie 
C)  Coke and Diet Coke 
D)  A and C 
E)  all of the above D

Question 4

The ________ of a service means that it cannot be perceived through the five senses before it is produced and consumed.

Accepted Answer

A)  utility 
B)  warranty 
C)  tangibility 
D)  intangibility 
E)  variability 
A)  utility 
B)  warranty 
C)  tangibility 
D)  intangibility 
E)  variability

Question 5

Innovators tend to be better off financially than other adopter groups.

Accepted Answer

A) True 
 B)False

Question 6

Unsought products are products that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort.

Accepted Answer

A) True 
 B)False

Question 7

Services produced by the private sector account for more than half of the U.S. gross domestic product.

Accepted Answer

A) True 
 B)False

Question 8

________ are a form of product that consist of a collection of activities that, when performed, delivers benefits to a customer.

Accepted Answer

A)  Line extensions 
B)  Services 
C)  Brands 
D)  Consumer products 
E)  Supplements 
A)  Line extensions 
B)  Services 
C)  Brands 
D)  Consumer products 
E)  Supplements

Question 9

Specialty products are purchased infrequently.

Accepted Answer

A) True 
 B)False

Question 10

Increasing sales will most likely occur at which stage of the PLC?

Accepted Answer

A)  introduction 
B)  maturity 
C)  growth 
D)  decline 
E)  product development 
A)  introduction 
B)  maturity 
C)  growth 
D)  decline 
E)  product development

Question 11

Level of quality, features, functions, and design are all examples of ________.

Accepted Answer

A)  core benefits 
B)  product attributes 
C)  levels of a product 
D)  product mixes 
E)  product utility 
A)  core benefits 
B)  product attributes 
C)  levels of a product 
D)  product mixes 
E)  product utility

Question 12

Promotion activities for which of the following types of products are most likely to be highly targeted to very specific audiences?

Accepted Answer

A)  specialty products 
B)  context products 
C)  consumer products 
D)  shopping products 
E)  staples 
A)  specialty products 
B)  context products 
C)  consumer products 
D)  shopping products 
E)  staples

Question 13

Each product will have a life cycle, although its exact shape and length is not known in advance. Briefly explain each step in the PLC.

Accepted Answer

Product development begins when the comp

Question 14

What can a company expect to learn by setting up a test market?

Accepted Answer

Test marketing lets a company

Question 15

Although test marketing costs can be high, they are often small when compared with ________.

Accepted Answer

A)  business analysis costs 
B)  the costs of a major mistake 
C)  prototype development costs 
D)  the costs of idea generation 
E)  research and development costs 
A)  business analysis costs 
B)  the costs of a major mistake 
C)  prototype development costs 
D)  the costs of idea generation 
E)  research and development costs

Question 16

________ is the product life cycle period when sales fall off and profits drop.

Accepted Answer

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

Question 17

________ are infrequently purchased consumer products with unique characteristics for which buyers are willing to make a special purchase effort.

Accepted Answer

A)  Shopping products 
B)  Unsought products 
C)  Specialty products 
D)  Industrial products 
E)  Line extensions 
A)  Shopping products 
B)  Unsought products 
C)  Specialty products 
D)  Industrial products 
E)  Line extensions

Question 18

Product mix ________ refers to the number of versions offered of each product within a line.

Accepted Answer

A)  length 
B)  depth 
C)  height 
D)  width 
E)  perimeter 
A)  length 
B)  depth 
C)  height 
D)  width 
E)  perimeter

Question 19

Describe the three different levels of a product.

Accepted Answer

The three layers, or levels, of the prod

Question 20

In the business market, wheat and lumber are examples of ________.

Accepted Answer

A)  components 
B)  equipment 
C)  processed materials 
D)  MRO products 
E)  raw materials 
A)  components 
B)  equipment 
C)  processed materials 
D)  MRO products 
E)  raw materials

Which of the following is the innovation that involves the greatest degree of change?

Which stage in the PLC normally lasts longest?

Which of the following is(are) examples of product mix depth?

The ________ of a service means that it cannot be perceived through the five senses before it is produced and consumed.

Innovators tend to be better off financially than other adopter groups.

Unsought products are products that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort.

Services produced by the private sector account for more than half of the U.S. gross domestic product.

________ are a form of product that consist of a collection of activities that, when performed, delivers benefits to a customer.

Specialty products are purchased infrequently.

Increasing sales will most likely occur at which stage of the PLC?

Level of quality, features, functions, and design are all examples of ________.

Promotion activities for which of the following types of products are most likely to be highly targeted to very specific audiences?

Each product will have a life cycle, although its exact shape and length is not known in advance. Briefly explain each step in the PLC.

What can a company expect to learn by setting up a test market?

Although test marketing costs can be high, they are often small when compared with ________.

________ is the product life cycle period when sales fall off and profits drop.

________ are infrequently purchased consumer products with unique characteristics for which buyers are willing to make a special purchase effort.

Product mix ________ refers to the number of versions offered of each product within a line.

Describe the three different levels of a product.

In the business market, wheat and lumber are examples of ________.

The Meaning of Marketing

The Market in Marketing

Planning and Marketing in an Organization

A Broader Perspective on Marketing

Global Marketing

Value for Customers

A Perspective on Consumer Behavior

Consumer Insight

The Brand

Segmenting, Targeting, and Positioning

The Marketing Plan

Pricing Strategies

Supply Chain and Distribution Strategies

Retailing and Wholesaling Strategies

Advertising and Sales Promotion Strategies

Personal Selling and Direct Marketing Strategies

The Communications Mix

The Marketing Mix

Marketing Performance Measurement

Filters

Exam 12: Product and Service Strategies

Which of the following is the innovation that involves the greatest degree of change?

Which stage in the PLC normally lasts longest?

Which of the following is(are) examples of product mix depth?

The ________ of a service means that it cannot be perceived through the five senses before it is produced and consumed.

Innovators tend to be better off financially than other adopter groups.

Unsought products are products that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort.

Services produced by the private sector account for more than half of the U.S. gross domestic product.

________ are a form of product that consist of a collection of activities that, when performed, delivers benefits to a customer.

Specialty products are purchased infrequently.

Increasing sales will most likely occur at which stage of the PLC?

Level of quality, features, functions, and design are all examples of ________.

Promotion activities for which of the following types of products are most likely to be highly targeted to very specific audiences?

Each product will have a life cycle, although its exact shape and length is not known in advance. Briefly explain each step in the PLC.

What can a company expect to learn by setting up a test market?

Although test marketing costs can be high, they are often small when compared with ________.

________ is the product life cycle period when sales fall off and profits drop.

________ are infrequently purchased consumer products with unique characteristics for which buyers are willing to make a special purchase effort.

Product mix ________ refers to the number of versions offered of each product within a line.

Describe the three different levels of a product.

In the business market, wheat and lumber are examples of ________.

The Meaning of Marketing

The Market in Marketing

Planning and Marketing in an Organization

A Broader Perspective on Marketing

Global Marketing

Value for Customers

A Perspective on Consumer Behavior

Consumer Insight

The Brand

Segmenting, Targeting, and Positioning

The Marketing Plan

Pricing Strategies

Supply Chain and Distribution Strategies

Retailing and Wholesaling Strategies

Advertising and Sales Promotion Strategies

Personal Selling and Direct Marketing Strategies

The Communications Mix

The Marketing Mix

Marketing Performance Measurement

Filters