Question 1

Describe the three levels of innovation businesses use in an effort to stay competitive. Give examples for each.

Accepted Answer

Discontinuous innovation consists of bra

Question 2

Which of the following do companies use to coordinate their messages through every promotional vehicle?

Accepted Answer

A)  virus detection software 
B)  integrated marketing communication 
C)  promotional channels 
D)  positioning statement 
A)  virus detection software 
B)  integrated marketing communication 
C)  promotional channels 
D)  positioning statement

Question 3

Canadian Tire recently announced it would market Debbie Travis products in its stores. What is this an example of?

Accepted Answer

A)  comarketing 
B)  creating a private label 
C)  brand extension 
D)  cobranding 
A)  comarketing 
B)  creating a private label 
C)  brand extension 
D)  cobranding

Question 4

Beta Feta, a cheese distributor, has contracted with a large construction firm to build a new warehouse facility. This type of expenditure is an example of an installation.

Accepted Answer

A) True 
 B)False

Question 5

A product mix is a group of products closely related to each other, either in terms of how they work or the customers they serve.

Accepted Answer

A) True 
 B)False

Question 6

Organizations use component parts and processed materials to produce other products.

Accepted Answer

A) True 
 B)False

Question 7

Because 7-Eleven stores have extended hours and numerous locations in a given community, what do they offer to consumers?

Accepted Answer

A)  shopping products 
B)  convenience products 
C)  unsought products 
D)  specialty products 
A)  shopping products 
B)  convenience products 
C)  unsought products 
D)  specialty products

Question 8

Dynamically continuous innovation involves more significant changes in products than continuous innovation.

Accepted Answer

A) True 
 B)False

Question 9

Four years ago, Elliv-Belle Industries introduced a fuel cell that households can use to generate their own low-cost electricity without having to buy power from electric utility companies. The product has been successful and is already in the growth stage of its life cycle. During this stage, the product is likely to have the market all to itself because competing products normally aren't introduced until the maturity stage.

Accepted Answer

A) True 
 B)False

Question 10

A brand is a product's identity that sets it apart from products in the same category that are offered by other producers.

Accepted Answer

A) True 
 B)False

Question 11

DeBeers was successful when they ran the same advertisements in Japan as they did in the West.

Accepted Answer

A) True 
 B)False

Question 12

At the most fundamental level, why does a consumer buy a product?

Accepted Answer

A)  to obtain status 
B)  to obtain its core benefit 
C)  to obtain its implicit benefit 
D)  to obtain a lifestyle enhancement 
A)  to obtain status 
B)  to obtain its core benefit 
C)  to obtain its implicit benefit 
D)  to obtain a lifestyle enhancement

Question 13

Stop and Shop Inc. is a discount grocery store that sells a variety of fruit and vegetable brands, including Libby's, Green Giant, and Dole. Recently, Stop and Shop has started selling its own versions of the same products. What would we call the Stop and Shop brand?

Accepted Answer

A)  an exclusive brand 
B)  a home-grown brand 
C)  a national brand 
D)  a private-label or store brand 
A)  an exclusive brand 
B)  a home-grown brand 
C)  a national brand 
D)  a private-label or store brand

Question 14

What do we call a physical good or delivered service that provides a core benefit?

Accepted Answer

A)  promised product 
B)  actual product 
C)  pure product 
D)  augmented product 
A)  promised product 
B)  actual product 
C)  pure product 
D)  augmented product

Question 15

How do marketers in a competitive environment work to extend the profitable period of a product's life cycle?

Accepted Answer

A)  by slowing down the rate of diffusion 
B)  by emphasizing discontinuous innovation 
C)  by temporarily removing the product from the market, then reintroducing it at a later date 
D)  by finding new uses for the product and changing the product 
A)  by slowing down the rate of diffusion 
B)  by emphasizing discontinuous innovation 
C)  by temporarily removing the product from the market, then reintroducing it at a later date 
D)  by finding new uses for the product and changing the product

Question 16

Which of the following represents a key difference between shopping and specialty products?

Accepted Answer

A)  With specialty products, consumers will go out of their way to purchase the "right" brand and will rarely accept a substitute; with shopping goods, consumers will spend shopping time searching for the brand that offers the best value. 
B)  Shopping products are expensive but are bought very frequently, so it is worth the consumer's efforts to develop a close relationship with a provider of these goods. Specialty products are less expensive and bought only relatively rarely, so customers put less effort into shopping for them. 
C)  Branding is not important in a specialty product, but it is very important in a shopping product. 
D)  Shopping products are pure goods, while specialty products typically include elements of both goods and services. This enhances the perception that they offer a better deal than regular shopping goods. 
A)  With specialty products, consumers will go out of their way to purchase the "right" brand and will rarely accept a substitute; with shopping goods, consumers will spend shopping time searching for the brand that offers the best value. 
B)  Shopping products are expensive but are bought very frequently, so it is worth the consumer's efforts to develop a close relationship with a provider of these goods. Specialty products are less expensive and bought only relatively rarely, so customers put less effort into shopping for them. 
C)  Branding is not important in a specialty product, but it is very important in a shopping product. 
D)  Shopping products are pure goods, while specialty products typically include elements of both goods and services. This enhances the perception that they offer a better deal than regular shopping goods.

Question 17

Which of the following integrates advertising of branded products into interactive games?

Accepted Answer

A)  advergaming 
B)  adactive promotion 
C)  E-vertising 
D)  intertising 
A)  advergaming 
B)  adactive promotion 
C)  E-vertising 
D)  intertising

Question 18

As the general manager of KTRV radio 1030, you are trying to take advantage of changes in technology to increase the number of listeners to your station. Which of the following is a strategy you could employ?

Accepted Answer

A)  Change the call letters for your station to something easier to remember. 
B)  Gain more control over your message by making greater use of publicity. 
C)  Eliminate advertising. 
D)  Develop an online radio website. 
A)  Change the call letters for your station to something easier to remember. 
B)  Gain more control over your message by making greater use of publicity. 
C)  Eliminate advertising. 
D)  Develop an online radio website.

Question 19

What do we call the characteristics of a product that companies offer consumers?

Accepted Answer

A)  hedonic attributes 
B)  product layers 
C)  pure services 
D)  product features 
A)  hedonic attributes 
B)  product layers 
C)  pure services 
D)  product features

Question 20

What are the stages of the new product development process?

Accepted Answer

A)  idea generation, idea screening, market research, development, testing, and observation research 
B)  idea generation, idea screening, analysis, development, testing, and commercialization 
C)  idea generation, idea screening, analysis, development, testing, and promotional planning 
D)  idea generation, idea screening, market research, focus groups, intercept surveys, and observation research 
A)  idea generation, idea screening, market research, development, testing, and observation research 
B)  idea generation, idea screening, analysis, development, testing, and commercialization 
C)  idea generation, idea screening, analysis, development, testing, and promotional planning 
D)  idea generation, idea screening, market research, focus groups, intercept surveys, and observation research

Describe the three levels of innovation businesses use in an effort to stay competitive. Give examples for each.

Which of the following do companies use to coordinate their messages through every promotional vehicle?

Canadian Tire recently announced it would market Debbie Travis products in its stores. What is this an example of?

Beta Feta, a cheese distributor, has contracted with a large construction firm to build a new warehouse facility. This type of expenditure is an example of an installation.

A product mix is a group of products closely related to each other, either in terms of how they work or the customers they serve.

Organizations use component parts and processed materials to produce other products.

Because 7-Eleven stores have extended hours and numerous locations in a given community, what do they offer to consumers?

Dynamically continuous innovation involves more significant changes in products than continuous innovation.

A brand is a product's identity that sets it apart from products in the same category that are offered by other producers.

DeBeers was successful when they ran the same advertisements in Japan as they did in the West.

At the most fundamental level, why does a consumer buy a product?

Stop and Shop Inc. is a discount grocery store that sells a variety of fruit and vegetable brands, including Libby's, Green Giant, and Dole. Recently, Stop and Shop has started selling its own versions of the same products. What would we call the Stop and Shop brand?

What do we call a physical good or delivered service that provides a core benefit?

How do marketers in a competitive environment work to extend the profitable period of a product's life cycle?

Which of the following represents a key difference between shopping and specialty products?

Which of the following integrates advertising of branded products into interactive games?

As the general manager of KTRV radio 1030, you are trying to take advantage of changes in technology to increase the number of listeners to your station. Which of the following is a strategy you could employ?

What do we call the characteristics of a product that companies offer consumers?

What are the stages of the new product development process?

Business Now: Change Is the Only Constant

Business Ethics and Social Responsibility: Doing Well by Doing Good

Economics: The Framework for Business

The World Market-Place: Business Without Borders

Business Formation: Choosing the Form That Fits

Small Business and Entrepreneurship: Economic Rocket Fuel

Accounting: Decision Making by the Numbers

Finance: Acquiring and Using Funds to Maximize Value

Financial Markets: Allocating Financial Resources

Marketing: Building Profitable Customer Connections

Distribution and Pricing: Right Product, Right Person, Right Place, Right Price

Management, Motivation, and Leadership: Bringing Business to Life

Human Resource Management: Building a Top-Quality Workforce

Managing Information and Technology: Finding New Ways to Learn and Link

Operations Management: Putting It All Together

Business Communication: Creating and Delivering Messages That Matter

Labour Unions and Collective Bargaining

Business Law

Personal Finance

Filters

Exam 11: Product and Promotion: Creating and Communicating Value

Describe the three levels of innovation businesses use in an effort to stay competitive. Give examples for each.

Which of the following do companies use to coordinate their messages through every promotional vehicle?

Canadian Tire recently announced it would market Debbie Travis products in its stores. What is this an example of?

Beta Feta, a cheese distributor, has contracted with a large construction firm to build a new warehouse facility. This type of expenditure is an example of an installation.

A product mix is a group of products closely related to each other, either in terms of how they work or the customers they serve.

Organizations use component parts and processed materials to produce other products.

Because 7-Eleven stores have extended hours and numerous locations in a given community, what do they offer to consumers?

Dynamically continuous innovation involves more significant changes in products than continuous innovation.

A brand is a product's identity that sets it apart from products in the same category that are offered by other producers.

DeBeers was successful when they ran the same advertisements in Japan as they did in the West.

At the most fundamental level, why does a consumer buy a product?

Stop and Shop Inc. is a discount grocery store that sells a variety of fruit and vegetable brands, including Libby's, Green Giant, and Dole. Recently, Stop and Shop has started selling its own versions of the same products. What would we call the Stop and Shop brand?

What do we call a physical good or delivered service that provides a core benefit?

How do marketers in a competitive environment work to extend the profitable period of a product's life cycle?

Which of the following represents a key difference between shopping and specialty products?

Which of the following integrates advertising of branded products into interactive games?

As the general manager of KTRV radio 1030, you are trying to take advantage of changes in technology to increase the number of listeners to your station. Which of the following is a strategy you could employ?

What do we call the characteristics of a product that companies offer consumers?

What are the stages of the new product development process?

Business Now: Change Is the Only Constant

Business Ethics and Social Responsibility: Doing Well by Doing Good

Economics: The Framework for Business

The World Market-Place: Business Without Borders

Business Formation: Choosing the Form That Fits

Small Business and Entrepreneurship: Economic Rocket Fuel

Accounting: Decision Making by the Numbers

Finance: Acquiring and Using Funds to Maximize Value

Financial Markets: Allocating Financial Resources

Marketing: Building Profitable Customer Connections

Distribution and Pricing: Right Product, Right Person, Right Place, Right Price

Management, Motivation, and Leadership: Bringing Business to Life

Human Resource Management: Building a Top-Quality Workforce

Managing Information and Technology: Finding New Ways to Learn and Link

Operations Management: Putting It All Together

Business Communication: Creating and Delivering Messages That Matter

Labour Unions and Collective Bargaining

Business Law

Personal Finance

Filters