Question 1

Food Lion (a large supermarket chain that emphasizes low prices)sells a dealer brand of frozen green beans.Here,

Accepted Answer

A) the producer of the green beans probably does a lot of advertising. 
B) a trademark cannot be used. 
C) a similar manufacturer brand is likely to be given less shelf space. 
D) the price for the consumer will probably be higher than with competing manufacturer brands. 
E) None of these answers is correct. 
A) the producer of the green beans probably does a lot of advertising. 
B) a trademark cannot be used. 
C) a similar manufacturer brand is likely to be given less shelf space. 
D) the price for the consumer will probably be higher than with competing manufacturer brands. 
E) None of these answers is correct.

Question 2

The federal Magnuson-Moss Act

Accepted Answer

A) says that producers must provide a clearly written warranty if they choose to offer a warranty. 
B) requires that consumer goods be clearly labeled to give consumers more information. 
C) spells out which kinds of marks (including brand names)can be protected and the exact method of protecting them. 
D) requires food manufacturers to use a labeling format that allows consumers to compare the nutritional value of different products. 
E) ensures that all labels list the "green benefits" of using a product. 
A) says that producers must provide a clearly written warranty if they choose to offer a warranty. 
B) requires that consumer goods be clearly labeled to give consumers more information. 
C) spells out which kinds of marks (including brand names)can be protected and the exact method of protecting them. 
D) requires food manufacturers to use a labeling format that allows consumers to compare the nutritional value of different products. 
E) ensures that all labels list the "green benefits" of using a product.

Question 3

Which of the following is/are NOT a business raw material?

Accepted Answer

A) coal 
B) grease 
C) sugar cane 
D) iron ore 
E) logs 
A) coal 
B) grease 
C) sugar cane 
D) iron ore 
E) logs

Question 4

Bank of America checking account customers can take a picture of a check with their phone and it will be virtually deposited,which eliminates the need for the customer to physically go to the bank.This is an example of

Accepted Answer

A) a software application adding value to a core product. 
B) augmented reality. 
C) the use of artificial intelligence to add to the customer experience. 
D) an intelligent agent anticipating customer needs. 
E) the creation of a new "tech" product. 
A) a software application adding value to a core product. 
B) augmented reality. 
C) the use of artificial intelligence to add to the customer experience. 
D) an intelligent agent anticipating customer needs. 
E) the creation of a new "tech" product.

Question 5

Derived demand is best illustrated by the demand for

Accepted Answer

A) tea as a substitute for coffee. 
B) brick because of increasing demand for new homes. 
C) fresh raspberries during the winter months. 
D) CD players because of increasing interest in CD audio discs. 
E) All of these are good illustrations of derived demand. 
A) tea as a substitute for coffee. 
B) brick because of increasing demand for new homes. 
C) fresh raspberries during the winter months. 
D) CD players because of increasing interest in CD audio discs. 
E) All of these are good illustrations of derived demand.

Question 6

Although the total industry demand for business products may be inelastic,the demand facing individual sellers may be extremely elastic.

Accepted Answer

A) True 
 B)False

Question 7

One of the important differences between raw materials and other business products is that raw materials usually have to be graded.

Accepted Answer

A) True 
 B)False

Question 8

Regarding installations,which of the following is NOT true?

Accepted Answer

A) The number of potential customers at any one time is quite large. 
B) Leasing installations may be attractive to buyers. 
C) It is common for sellers to offer specialized services. 
D) The buying needs of potential customers are basically economic. 
E) Multiple buying influence is common. 
A) The number of potential customers at any one time is quite large. 
B) Leasing installations may be attractive to buyers. 
C) It is common for sellers to offer specialized services. 
D) The buying needs of potential customers are basically economic. 
E) Multiple buying influence is common.

Question 9

The text's business product classes are based on

Accepted Answer

A) how buyers think about products and how they will be used. 
B) how consumers think about and shop for products. 
C) a buyer's price sensitivity. 
D) a buyer's willingness to search. 
E) None of these answers is correct. 
A) how buyers think about products and how they will be used. 
B) how consumers think about and shop for products. 
C) a buyer's price sensitivity. 
D) a buyer's willingness to search. 
E) None of these answers is correct.

Question 10

Shopping products that a customer sees as different and wants to inspect for quality and suitability are heterogeneous shopping products.

Accepted Answer

A) True 
 B)False

Question 11

Impulse products

Accepted Answer

A) are likely to gain or lose sales depending on where they're sold. 
B) require a great deal of advertising. 
C) are a specific type of specialty product. 
D) are usually high in price. 
E) All these answers are correct. 
A) are likely to gain or lose sales depending on where they're sold. 
B) require a great deal of advertising. 
C) are a specific type of specialty product. 
D) are usually high in price. 
E) All these answers are correct.

Question 12

Manufacturer brands are also called

Accepted Answer

A) dealer brands. 
B) global brands. 
C) national brands. 
D) private brands. 
E) store brands. 
A) dealer brands. 
B) global brands. 
C) national brands. 
D) private brands. 
E) store brands.

Question 13

Expense items that have had more processing than raw materials and become part of a finished product are component parts and materials.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is LEAST likely to be a convenience product for most consumers?

Accepted Answer

A) peanut butter 
B) laundry detergent 
C) candy bar 
D) pair of jeans 
E) package of paper towels 
A) peanut butter 
B) laundry detergent 
C) candy bar 
D) pair of jeans 
E) package of paper towels

Question 15

Personal selling is extremely important for sellers of

Accepted Answer

A) specialty products. 
B) regularly unsought products. 
C) heterogeneous shopping products. 
D) new unsought products. 
E) homogeneous shopping products. 
A) specialty products. 
B) regularly unsought products. 
C) heterogeneous shopping products. 
D) new unsought products. 
E) homogeneous shopping products.

Question 16

If a firm offers a written warranty,it

Accepted Answer

A) must be labeled either "full" or "limited." 
B) must be available to buyers before the sale. 
C) shouldn't be "deceptive" or "unfair" according to FTC guidelines. 
D) may help create a new strategy. 
E) All these answers are correct. 
A) must be labeled either "full" or "limited." 
B) must be available to buyers before the sale. 
C) shouldn't be "deceptive" or "unfair" according to FTC guidelines. 
D) may help create a new strategy. 
E) All these answers are correct.

Question 17

When selling ________ products,a marketing manager should recognize that consumers have low price sensitivity and the product should have widespread distribution near the probable point of need.

Accepted Answer

A) homogeneous 
B) specialty 
C) emergency 
D) impulse 
E) regularly unsought 
A) homogeneous 
B) specialty 
C) emergency 
D) impulse 
E) regularly unsought

Question 18

A marketing manager should make sure the firm's brand names do not become so familiar that they become common descriptive terms for certain kinds of products.

Accepted Answer

A) True 
 B)False

Question 19

Branding

Accepted Answer

A) is especially helpful with a low-quality product. 
B) is handled by manufacturers but not intermediaries. 
C) helps consumers,but it is bad for the firm because it increases expenses. 
D) is more likely to be successful if demand for the general product class is strong enough to allow a profitable price. 
E) None of these answers is correct. 
A) is especially helpful with a low-quality product. 
B) is handled by manufacturers but not intermediaries. 
C) helps consumers,but it is bad for the firm because it increases expenses. 
D) is more likely to be successful if demand for the general product class is strong enough to allow a profitable price. 
E) None of these answers is correct.

Question 20

Shopping products that a customer sees as basically the same and wants at the lowest price are heterogeneous shopping products.

Accepted Answer

A) True 
 B)False

Food Lion (a large supermarket chain that emphasizes low prices)sells a dealer brand of frozen green beans.Here,

The federal Magnuson-Moss Act

Which of the following is/are NOT a business raw material?

Bank of America checking account customers can take a picture of a check with their phone and it will be virtually deposited,which eliminates the need for the customer to physically go to the bank.This is an example of

Derived demand is best illustrated by the demand for

Although the total industry demand for business products may be inelastic,the demand facing individual sellers may be extremely elastic.

One of the important differences between raw materials and other business products is that raw materials usually have to be graded.

Regarding installations,which of the following is NOT true?

The text's business product classes are based on

Shopping products that a customer sees as different and wants to inspect for quality and suitability are heterogeneous shopping products.

Impulse products

Manufacturer brands are also called

Expense items that have had more processing than raw materials and become part of a finished product are component parts and materials.

Which of the following is LEAST likely to be a convenience product for most consumers?

Personal selling is extremely important for sellers of

If a firm offers a written warranty,it

When selling ________ products,a marketing manager should recognize that consumers have low price sensitivity and the product should have widespread distribution near the probable point of need.

A marketing manager should make sure the firm's brand names do not become so familiar that they become common descriptive terms for certain kinds of products.

Branding

Shopping products that a customer sees as basically the same and wants at the lowest price are heterogeneous shopping products.

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Market Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Filters

Exam 8: Elements of Product Planning for Goods and Services

Food Lion (a large supermarket chain that emphasizes low prices)sells a dealer brand of frozen green beans.Here,

The federal Magnuson-Moss Act

Which of the following is/are NOT a business raw material?

Bank of America checking account customers can take a picture of a check with their phone and it will be virtually deposited,which eliminates the need for the customer to physically go to the bank.This is an example of

Derived demand is best illustrated by the demand for

Although the total industry demand for business products may be inelastic,the demand facing individual sellers may be extremely elastic.

One of the important differences between raw materials and other business products is that raw materials usually have to be graded.

Regarding installations,which of the following is NOT true?

The text's business product classes are based on

Shopping products that a customer sees as different and wants to inspect for quality and suitability are heterogeneous shopping products.

Impulse products

Manufacturer brands are also called

Expense items that have had more processing than raw materials and become part of a finished product are component parts and materials.

Which of the following is LEAST likely to be a convenience product for most consumers?

Personal selling is extremely important for sellers of

If a firm offers a written warranty,it

When selling ________ products,a marketing manager should recognize that consumers have low price sensitivity and the product should have widespread distribution near the probable point of need.

A marketing manager should make sure the firm's brand names do not become so familiar that they become common descriptive terms for certain kinds of products.

Branding

Shopping products that a customer sees as basically the same and wants at the lowest price are heterogeneous shopping products.

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Market Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Filters