Question 1

Nike, Inc. markets several types of athletic shoes, along with clothing and fitness equipment. In other words, Nike has

Accepted Answer

A)  product components. 
B)  a battle of the brands. 
C)  no product assortment. 
D)  many product classes. 
E)  several product lines. 
A)  product components. 
B)  a battle of the brands. 
C)  no product assortment. 
D)  many product classes. 
E)  several product lines.

Question 2

Dealer brands (private brands) have the following advantages over manufacturer brands except:

Accepted Answer

A)  dealer brands produce higher margins. 
B)  dealer brands receive special shelf position and promotion in stores. 
C)  dealer brands do not require advertising and promotion campaigns. 
D)  dealer brands are often viewed as cheap. 
E)  dealer brands do not incur costs associated with premium ingredients. 
A)  dealer brands produce higher margins. 
B)  dealer brands receive special shelf position and promotion in stores. 
C)  dealer brands do not require advertising and promotion campaigns. 
D)  dealer brands are often viewed as cheap. 
E)  dealer brands do not incur costs associated with premium ingredients.

Question 3

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

Accepted Answer

A)  Regularly unsought 
B)  New unsought 
C)  Specialty 
D)  Unsought 
E)  Homogeneous 
A)  Regularly unsought 
B)  New unsought 
C)  Specialty 
D)  Unsought 
E)  Homogeneous

Question 4

Regarding accessory equipment, which of the following is NOT true?

Accepted Answer

A)  Multiple buying influence is less important in the purchase of an installation than with accessory equipment. 
B)  There are more customers for accessory equipment than for installations. 
C)  Specialized services are more important in the purchase of installations than accessories. 
D)  There are more sellers of accessory equipment than of installations. 
E)  All of these statements ARE true. 
A)  Multiple buying influence is less important in the purchase of an installation than with accessory equipment. 
B)  There are more customers for accessory equipment than for installations. 
C)  Specialized services are more important in the purchase of installations than accessories. 
D)  There are more sellers of accessory equipment than of installations. 
E)  All of these statements ARE true.

Question 5

Which of the following is NOT a component material?

Accepted Answer

A)  Paper. 
B)  Copper wire. 
C)  Copper ore. 
D)  Copper screens. 
E)  None of these, i.e., all are component materials. 
A)  Paper. 
B)  Copper wire. 
C)  Copper ore. 
D)  Copper screens. 
E)  None of these, i.e., all are component materials.

Question 6

Which of the following is an "unsought product"?

Accepted Answer

A)  Gravestones aimed at "senior citizens" 
B)  A new type of "health food" produced by a new, small company 
C)  Life insurance aimed at college students 
D)  Encyclopedias aimed at new parents 
E)  All of these are unsought products 
A)  Gravestones aimed at "senior citizens" 
B)  A new type of "health food" produced by a new, small company 
C)  Life insurance aimed at college students 
D)  Encyclopedias aimed at new parents 
E)  All of these are unsought products

Question 7

The Federal Fair Packaging and Labeling Act of 1966 requires that firms in a product-market reduce the number of package sizes to three or fewer for any product.

Accepted Answer

A) True 
 B)False

Question 8

Brand familiarity means how well customers recognize and accept a company's brand.

Accepted Answer

A) True 
 B)False

Question 9

Consumer products that offer truly new ideas that potential customers don't know about yet are new unsought products.

Accepted Answer

A) True 
 B)False

Question 10

The _____ spells out what kinds of marks including brand names can be protected and the exact method of protecting them.

Accepted Answer

A)  Magnuson-Moss Act 
B)  Federal Fair Packaging and Labeling Act 
C)  Lanham Act 
D)  Wagner Act 
E)  Licenses Act 
A)  Magnuson-Moss Act 
B)  Federal Fair Packaging and Labeling Act 
C)  Lanham Act 
D)  Wagner Act 
E)  Licenses Act

Question 11

Regarding installations, which 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 12

Packaging

Accepted Answer

A)  can serve as a useful enhancement tool. 
B)  can increase costs to the consumer. 
C)  can serve as a useful promotional tool. 
D)  is concerned with protecting the product in shipping and on the shelf. 
E)  All of these alternatives are correct. 
A)  can serve as a useful enhancement tool. 
B)  can increase costs to the consumer. 
C)  can serve as a useful promotional tool. 
D)  is concerned with protecting the product in shipping and on the shelf. 
E)  All of these alternatives are correct.

Question 13

Which of the following would be treated as an expense item for a children's clothing manufacturer?

Accepted Answer

A)  Cloth. 
B)  Sewing needles. 
C)  Buttons. 
D)  Zippers. 
E)  All of these would be treated as expense items. 
A)  Cloth. 
B)  Sewing needles. 
C)  Buttons. 
D)  Zippers. 
E)  All of these would be treated as expense items.

Question 14

Which one of the following statements about packaging is TRUE?

Accepted Answer

A)  The number of package sizes for similar products from different manufacturers is increasing dramatically, because most firms realize that this makes direct comparisons among brands harder. 
B)  There is very little government regulation of packaging, except for drug products. 
C)  A good package can sometimes provide more promotional impact than advertising. 
D)  Better packaging almost always raises total distribution costs. 
E)  None of these statements about packaging is TRUE. 
A)  The number of package sizes for similar products from different manufacturers is increasing dramatically, because most firms realize that this makes direct comparisons among brands harder. 
B)  There is very little government regulation of packaging, except for drug products. 
C)  A good package can sometimes provide more promotional impact than advertising. 
D)  Better packaging almost always raises total distribution costs. 
E)  None of these statements about packaging is TRUE.

Question 15

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 16

A producer that is selling all its products under one brand name is using ______________ brand.

Accepted Answer

A)  a family 
B)  a generic 
C)  a licensed 
D)  a national 
E)  an individual 
A)  a family 
B)  a generic 
C)  a licensed 
D)  a national 
E)  an individual

Question 17

Regarding business products,

Accepted Answer

A)  derived demand has little effect on the market for accessory equipment. 
B)  sellers of accessory equipment usually must face more competitors than sellers of installations. 
C)  at any one time there are usually fewer target customers for accessories than for installations. 
D)  accessory equipment is not treated as a capital item. 
E)  special services and advice are more important with accessories than with installations. 
A)  derived demand has little effect on the market for accessory equipment. 
B)  sellers of accessory equipment usually must face more competitors than sellers of installations. 
C)  at any one time there are usually fewer target customers for accessories than for installations. 
D)  accessory equipment is not treated as a capital item. 
E)  special services and advice are more important with accessories than with installations.

Question 18

Which of the following is true?

Accepted Answer

A)  Manufacturer brands usually have national distribution while dealer brands are only distributed locally. 
B)  Dealer brands are always priced lower than manufacturer brands. 
C)  Dealer brands may be distributed as widely or more widely than many manufacturer brands. 
D)  Dealer brands are distributed only by chain-store retailers. 
E)  None of these alternatives is true. 
A)  Manufacturer brands usually have national distribution while dealer brands are only distributed locally. 
B)  Dealer brands are always priced lower than manufacturer brands. 
C)  Dealer brands may be distributed as widely or more widely than many manufacturer brands. 
D)  Dealer brands are distributed only by chain-store retailers. 
E)  None of these alternatives is true.

Question 19

The Federal Fair Packaging and Labeling Act:

Accepted Answer

A)  was created due to consumer criticism of packaging and labeling. 
B)  calls on government agencies and industry to try to reduce the number of packaging sizes. 
C)  requires that consumer goods be clearly labeled in understandable terms. 
D)  all of these alternatives are correct. 
A)  was created due to consumer criticism of packaging and labeling. 
B)  calls on government agencies and industry to try to reduce the number of packaging sizes. 
C)  requires that consumer goods be clearly labeled in understandable terms. 
D)  all of these alternatives are correct.

Question 20

If members of the target market for an Apple iPad do not initially recognize the brand name, but compelling advertising results in more members remembering the brand, we say the Apple iPad has achieved:

Accepted Answer

A)  brand rejection. 
B)  brand preference. 
C)  brand nonrecognition. 
D)  brand insistence. 
E)  brand recognition. 
A)  brand rejection. 
B)  brand preference. 
C)  brand nonrecognition. 
D)  brand insistence. 
E)  brand recognition.

Nike, Inc. markets several types of athletic shoes, along with clothing and fitness equipment. In other words, Nike has

Dealer brands (private brands) have the following advantages over manufacturer brands except:

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

Regarding accessory equipment, which of the following is NOT true?

Which of the following is NOT a component material?

Which of the following is an "unsought product"?

The Federal Fair Packaging and Labeling Act of 1966 requires that firms in a product-market reduce the number of package sizes to three or fewer for any product.

Brand familiarity means how well customers recognize and accept a company's brand.

Consumer products that offer truly new ideas that potential customers don't know about yet are new unsought products.

The _____ spells out what kinds of marks including brand names can be protected and the exact method of protecting them.

Regarding installations, which is NOT true?

Packaging

Which of the following would be treated as an expense item for a children's clothing manufacturer?

Which one of the following statements about packaging is TRUE?

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

A producer that is selling all its products under one brand name is using ______________ brand.

Regarding business products,

Which of the following is true?

The Federal Fair Packaging and Labeling Act:

If members of the target market for an Apple iPad do not initially recognize the brand name, but compelling advertising results in more members remembering the brand, we say the Apple iPad has achieved:

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

Nike, Inc. markets several types of athletic shoes, along with clothing and fitness equipment. In other words, Nike has

Dealer brands (private brands) have the following advantages over manufacturer brands except:

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

Regarding accessory equipment, which of the following is NOT true?

Which of the following is NOT a component material?

Which of the following is an "unsought product"?

The Federal Fair Packaging and Labeling Act of 1966 requires that firms in a product-market reduce the number of package sizes to three or fewer for any product.

Brand familiarity means how well customers recognize and accept a company's brand.

Consumer products that offer truly new ideas that potential customers don't know about yet are new unsought products.

The _____ spells out what kinds of marks including brand names can be protected and the exact method of protecting them.

Regarding installations, which is NOT true?

Packaging

Which of the following would be treated as an expense item for a children's clothing manufacturer?

Which one of the following statements about packaging is TRUE?

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

A producer that is selling all its products under one brand name is using ______________ brand.

Regarding business products,

Which of the following is true?

The Federal Fair Packaging and Labeling Act:

If members of the target market for an Apple iPad do not initially recognize the brand name, but compelling advertising results in more members remembering the brand, we say the Apple iPad has achieved:

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