Question 1

The Magnuson-Moss Act:

Accepted Answer

A)  requires that all warranties be "full." 
B)  says that all firms must offer written warranties for all products. 
C)  requires that all warranties cover at least a one-year period. 
D)  says that producers must provide a clearly written warranty if they choose to offer any warranty. 
E)  All of these alternatives are correct. 
A)  requires that all warranties be "full." 
B)  says that all firms must offer written warranties for all products. 
C)  requires that all warranties cover at least a one-year period. 
D)  says that producers must provide a clearly written warranty if they choose to offer any warranty. 
E)  All of these alternatives are correct.

Question 2

A "Product" might involve a physical good, a service, or a combination of the two.

Accepted Answer

A) True 
 B)False

Question 3

Compared to installations, accessory equipment

Accepted Answer

A)  is usually less standardized. 
B)  involves more multiple-buying influence. 
C)  is an expense item instead of a capital item. 
D)  is sold to more target markets. 
E)  becomes part of the buyer's final product. 
A)  is usually less standardized. 
B)  involves more multiple-buying influence. 
C)  is an expense item instead of a capital item. 
D)  is sold to more target markets. 
E)  becomes part of the buyer's final product.

Question 4

Which of the characteristics of a good brand name is missing in the following proposed name: "Gnucheo" candy?

Accepted Answer

A)  Simple 
B)  Short 
C)  Not offensive 
D)  Always timely 
E)  Easy to pronounce 
A)  Simple 
B)  Short 
C)  Not offensive 
D)  Always timely 
E)  Easy to pronounce

Question 5

A service mark is the same as a trademark, except that it refers to a service offering.

Accepted Answer

A) True 
 B)False

Question 6

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 to the consumer will probably be higher than for competing manufacturer brands. 
E)  None of these alternatives 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 to the consumer will probably be higher than for competing manufacturer brands. 
E)  None of these alternatives is correct.

Question 7

The ______ says that producers must provide a clearly written warranty if they choose to offer any warranty.

Accepted Answer

A)  Norris-LaGuardia Act 
B)  Lanham Act 
C)  Wagner Act 
D)  Magnuson-Moss Act 
E)  Food and Drug Act 
A)  Norris-LaGuardia Act 
B)  Lanham Act 
C)  Wagner Act 
D)  Magnuson-Moss Act 
E)  Food and Drug Act

Question 8

"Installation" products:

Accepted Answer

A)  are hardly ever leased because of the tax disadvantages. 
B)  do not include buildings and land rights. 
C)  justify multiple buying influence for custom-made equipment but not for standard equipment. 
D)  such as custom-made equipment generally require special negotiations for each sale. 
E)  All of these alternatives are correct. 
A)  are hardly ever leased because of the tax disadvantages. 
B)  do not include buildings and land rights. 
C)  justify multiple buying influence for custom-made equipment but not for standard equipment. 
D)  such as custom-made equipment generally require special negotiations for each sale. 
E)  All of these alternatives are correct.

Question 9

Business professional services:

Accepted Answer

A)  may not be purchased outside the firm if they are needed regularly. 
B)  support a firm's operations. 
C)  are offered by a growing number of specialists. 
D)  are generally treated as expense items. 
E)  All of these alternatives are correct. 
A)  may not be purchased outside the firm if they are needed regularly. 
B)  support a firm's operations. 
C)  are offered by a growing number of specialists. 
D)  are generally treated as expense items. 
E)  All of these alternatives are correct.

Question 10

A "product" is best described as:

Accepted Answer

A)  a purely physical entity. 
B)  an image in the mind of the consumer. 
C)  a need-satisfying offering of a firm. 
D)  an intangible service. 
E)  all of the technical aspects of production. 
A)  a purely physical entity. 
B)  an image in the mind of the consumer. 
C)  a need-satisfying offering of a firm. 
D)  an intangible service. 
E)  all of the technical aspects of production.

Question 11

What type of business product is General Motors purchasing when it asks a law firm for bankruptcy advice?

Accepted Answer

A)  Emergency product 
B)  Professional service 
C)  Component 
D)  Accessory 
E)  Installation 
A)  Emergency product 
B)  Professional service 
C)  Component 
D)  Accessory 
E)  Installation

Question 12

"Product" means:

Accepted Answer

A)  A physical good or service that offers potential customer satisfaction. 
B)  A physical good with all its related features. 
C)  The entire physical output of a firm. 
D)  All of the elements in a firm's marketing mix. 
E)  Something that has been produced, packaged, branded, and given a warranty. 
A)  A physical good or service that offers potential customer satisfaction. 
B)  A physical good with all its related features. 
C)  The entire physical output of a firm. 
D)  All of the elements in a firm's marketing mix. 
E)  Something that has been produced, packaged, branded, and given a warranty.

Question 13

Staples are consumer products that are sold in places like gourmet shops and health food stores, because convenience is not important to the customer.

Accepted Answer

A) True 
 B)False

Question 14

From a marketing perspective, a high quality copy machine is one that:

Accepted Answer

A)  does a good job satisfying a customer's requirements or needs. 
B)  offers the most features. 
C)  is produced with the best materials. 
D)  has the longest warranty. 
E)  is designed and manufactured to last the longest. 
A)  does a good job satisfying a customer's requirements or needs. 
B)  offers the most features. 
C)  is produced with the best materials. 
D)  has the longest warranty. 
E)  is designed and manufactured to last the longest.

Question 15

Luke Flaherty wants to buy an electric drill for some jobs around his home. Deciding that all such drills are similar, he reads all the advertisements in his Sunday paper in search of the best price. For Luke, these drills are:

Accepted Answer

A)  a heterogeneous shopping product. 
B)  a staple product. 
C)  a specialty product. 
D)  a homogeneous shopping product. 
E)  an emergency product. 
A)  a heterogeneous shopping product. 
B)  a staple product. 
C)  a specialty product. 
D)  a homogeneous shopping product. 
E)  an emergency product.

Question 16

Products which a consumer needs but isn't willing to spend much time shopping for are convenience products.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following orderings suggests the amount of effort (from little to much) that consumers are willing to spend in searching for the "right" product?

Accepted Answer

A)  Heterogeneous shopping products, specialty products, unsought products 
B)  Convenience products, homogeneous shopping products, specialty products 
C)  Unsought products, homogeneous shopping products, convenience products 
D)  Staples, heterogeneous shopping products, unsought products 
E)  Homogeneous shopping products, heterogeneous shopping products, staples 
A)  Heterogeneous shopping products, specialty products, unsought products 
B)  Convenience products, homogeneous shopping products, specialty products 
C)  Unsought products, homogeneous shopping products, convenience products 
D)  Staples, heterogeneous shopping products, unsought products 
E)  Homogeneous shopping products, heterogeneous shopping products, staples

Question 18

Product line length indicates:

Accepted Answer

A)  the number of individual offerings in a product line. 
B)  the number of product lines that the company has to offer its customers. 
C)  the number of intermediaries involved in the distribution of all the offerings in a product line. 
D)  the total customer lifetime value associated with the offerings in a product line. 
E)  the total number of products that the company has to offer its customers. 
A)  the number of individual offerings in a product line. 
B)  the number of product lines that the company has to offer its customers. 
C)  the number of intermediaries involved in the distribution of all the offerings in a product line. 
D)  the total customer lifetime value associated with the offerings in a product line. 
E)  the total number of products that the company has to offer its customers.

Question 19

Mrs. Moreau was planning to have several guests at her home for a traditional Thanksgiving dinner. She had cooked Shady Brook Farms fresh turkeys in the past and had enjoyed them very much. When she went to her usual grocery store, she discovered that the store no longer carried the Shady Brook Farms brand. She called several other grocery stores and was finally able to locate Shady Brook Farms fresh turkeys at a small specialty grocery store approximately 10 miles away. She drove to the store and bought a 20-pound Shady Brook Farms turkey, even though the price per pound was higher than what she normally paid at her usual grocery store. For Mrs. Moreau, the Shady Brook Farms turkey was a(n):

Accepted Answer

A)  Homogeneous shopping product. 
B)  Specialty product. 
C)  Heterogeneous shopping product. 
D)  Convenience product. 
E)  Unsought product. 
A)  Homogeneous shopping product. 
B)  Specialty product. 
C)  Heterogeneous shopping product. 
D)  Convenience product. 
E)  Unsought product.

Question 20

"MRO items" are:

Accepted Answer

A)  supplies. 
B)  natural products. 
C)  modified rebuy orders. 
D)  accessory equipment. 
E)  component parts and materials. 
A)  supplies. 
B)  natural products. 
C)  modified rebuy orders. 
D)  accessory equipment. 
E)  component parts and materials.

The Magnuson-Moss Act:

A "Product" might involve a physical good, a service, or a combination of the two.

Compared to installations, accessory equipment

Which of the characteristics of a good brand name is missing in the following proposed name: "Gnucheo" candy?

A service mark is the same as a trademark, except that it refers to a service offering.

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

The ______ says that producers must provide a clearly written warranty if they choose to offer any warranty.

"Installation" products:

Business professional services:

A "product" is best described as:

What type of business product is General Motors purchasing when it asks a law firm for bankruptcy advice?

"Product" means:

Staples are consumer products that are sold in places like gourmet shops and health food stores, because convenience is not important to the customer.

From a marketing perspective, a high quality copy machine is one that:

Luke Flaherty wants to buy an electric drill for some jobs around his home. Deciding that all such drills are similar, he reads all the advertisements in his Sunday paper in search of the best price. For Luke, these drills are:

Products which a consumer needs but isn't willing to spend much time shopping for are convenience products.

Which of the following orderings suggests the amount of effort (from little to much) that consumers are willing to spend in searching for the "right" product?

Product line length indicates:

"MRO items" are:

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

Promotion-Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

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

Filters

Exam 8: Elements of Product Planning for Goods and Services

The Magnuson-Moss Act:

A "Product" might involve a physical good, a service, or a combination of the two.

Compared to installations, accessory equipment

Which of the characteristics of a good brand name is missing in the following proposed name: "Gnucheo" candy?

A service mark is the same as a trademark, except that it refers to a service offering.

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

The ______ says that producers must provide a clearly written warranty if they choose to offer any warranty.

"Installation" products:

Business professional services:

A "product" is best described as:

What type of business product is General Motors purchasing when it asks a law firm for bankruptcy advice?

"Product" means:

Staples are consumer products that are sold in places like gourmet shops and health food stores, because convenience is not important to the customer.

From a marketing perspective, a high quality copy machine is one that:

Luke Flaherty wants to buy an electric drill for some jobs around his home. Deciding that all such drills are similar, he reads all the advertisements in his Sunday paper in search of the best price. For Luke, these drills are:

Products which a consumer needs but isn't willing to spend much time shopping for are convenience products.

Which of the following orderings suggests the amount of effort (from little to much) that consumers are willing to spend in searching for the "right" product?

Product line length indicates:

"MRO items" are:

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

Promotion-Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

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

Filters