Question 1

Logs, fish, cotton, and strawberries can all be:

Accepted Answer

A)  supplies. 
B)  raw materials. 
C)  component parts. 
D)  capital items. 
E)  accessories. 
A)  supplies. 
B)  raw materials. 
C)  component parts. 
D)  capital items. 
E)  accessories.

Question 2

The Lanham Act:

Accepted Answer

A)  Provides legal guidelines for product warranties. 
B)  Forces all companies to register their brands. 
C)  Describes the kinds of marks that can be protected and the methods for doing so. 
D)  Deals with deceptive product claims and advertisements. 
E)  Protects consumers against unsafe products. 
A)  Provides legal guidelines for product warranties. 
B)  Forces all companies to register their brands. 
C)  Describes the kinds of marks that can be protected and the methods for doing so. 
D)  Deals with deceptive product claims and advertisements. 
E)  Protects consumers against unsafe products.

Question 3

Homogeneous shopping products:

Accepted Answer

A)  need widespread distribution near probable points of sale. 
B)  need enough exposure to facilitate price comparison. 
C)  need widespread distribution with assurance of preferred display. 
D)  need widespread distribution at low cost. 
E)  None of these alternatives is correct. 
A)  need widespread distribution near probable points of sale. 
B)  need enough exposure to facilitate price comparison. 
C)  need widespread distribution with assurance of preferred display. 
D)  need widespread distribution at low cost. 
E)  None of these alternatives is correct.

Question 4

Which of the following is NOT a business product?

Accepted Answer

A)  A roll of sheet metal 
B)  A metal shelf system for storing inventory 
C)  A custom-built robot for welding metal 
D)  A pad of paper 
E)  Any of these could be a business product 
A)  A roll of sheet metal 
B)  A metal shelf system for storing inventory 
C)  A custom-built robot for welding metal 
D)  A pad of paper 
E)  Any of these could be a business product

Question 5

Component parts usually require much processing to get them ready for assembly.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is NOT true when comparing goods and services?

Accepted Answer

A)  Customers rely more heavily on recommendations when purchasing goods as compared to services. 
B)  Services are intangible while goods are tangible. 
C)  Goods are easily stored while services cannot be stored. 
D)  It is easier to produce consistent quality goods as compared to services. 
E)  Services are usually produced in front of customers, whereas goods are not. 
A)  Customers rely more heavily on recommendations when purchasing goods as compared to services. 
B)  Services are intangible while goods are tangible. 
C)  Goods are easily stored while services cannot be stored. 
D)  It is easier to produce consistent quality goods as compared to services. 
E)  Services are usually produced in front of customers, whereas goods are not.

Question 7

When some customers see all competitors' offerings as basically the same and are willing to spend much time and effort to buy the item at the lowest price, the item is:

Accepted Answer

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

Question 8

The text's consumer product classes are based on:

Accepted Answer

A)  the demand elasticity of the products. 
B)  the way people think about and shop for products. 
C)  the type of stores that sell the products. 
D)  the quantity in which products will be purchased or used. 
E)  how the sellers view the products. 
A)  the demand elasticity of the products. 
B)  the way people think about and shop for products. 
C)  the type of stores that sell the products. 
D)  the quantity in which products will be purchased or used. 
E)  how the sellers view the products.

Question 9

Which of the following products in a supermarket is MOST likely to be an impulse product?

Accepted Answer

A)  Oranges. 
B)  Bread. 
C)  Frozen peas. 
D)  A child's toy. 
E)  Shampoo. 
A)  Oranges. 
B)  Bread. 
C)  Frozen peas. 
D)  A child's toy. 
E)  Shampoo.

Question 10

Staple products:

Accepted Answer

A)  need maximum exposure and widespread distribution at low cost. 
B)  need adequate representation in major shopping areas. 
C)  need widespread distribution but with assurance of preferred display. 
D)  need widespread distribution near probable points of use. 
E)  can have limited availability as long as display is good. 
A)  need maximum exposure and widespread distribution at low cost. 
B)  need adequate representation in major shopping areas. 
C)  need widespread distribution but with assurance of preferred display. 
D)  need widespread distribution near probable points of use. 
E)  can have limited availability as long as display is good.

Question 11

Which of the following statements about branding is TRUE?

Accepted Answer

A)  Customers are willing to buy by brand only when it assures "top quality." 
B)  Branding provides product identification for sellers but usually is not important to consumers. 
C)  What brand is familiar often varies from one country to another. 
D)  Achieving brand familiarity is easy. 
E)  None of these statements about branding is TRUE. 
A)  Customers are willing to buy by brand only when it assures "top quality." 
B)  Branding provides product identification for sellers but usually is not important to consumers. 
C)  What brand is familiar often varies from one country to another. 
D)  Achieving brand familiarity is easy. 
E)  None of these statements about branding is TRUE.

Question 12

Regarding supplies,

Accepted Answer

A)  new-task buying is typical with most purchases. 
B)  only one supplier is generally available. 
C)  branding is not important for maintenance and small operating supplies. 
D)  breadth of assortment is important, but dependability is not. 
E)  None of these alternatives is correct. 
A)  new-task buying is typical with most purchases. 
B)  only one supplier is generally available. 
C)  branding is not important for maintenance and small operating supplies. 
D)  breadth of assortment is important, but dependability is not. 
E)  None of these alternatives is correct.

Question 13

Expense items which 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

If a firm offers a service guarantee, it

Accepted Answer

A)  can be effective in creating repeat customers. 
B)  is the same thing as offering a warranty. 
C)  can be inexpensive if its employees are apathetic. 
D)  is becoming less common. 
E)  all of these alternatives are correct. 
A)  can be effective in creating repeat customers. 
B)  is the same thing as offering a warranty. 
C)  can be inexpensive if its employees are apathetic. 
D)  is becoming less common. 
E)  all of these alternatives are correct.

Question 15

Goods are intangible and services are tangible.

Accepted Answer

A) True 
 B)False

Question 16

Without promotion, unsought products will probably stay unsold.

Accepted Answer

A) True 
 B)False

Question 17

Brand insistence means that target customers usually choose one brand over other brands, perhaps because of habit or favorable past experience.

Accepted Answer

A) True 
 B)False

Question 18

Use this information for question that refer to the Sunny Day Foods (SDF) Case. For six months, Kim Wu has been working for Sunny Day Foods (SDF), a fast-growing manufacturer of organic foods. After graduating college, she worked for four years as a sales rep for a nationally known food company. But, she jumped at the chance when SDF contacted her about becoming marketing manager for its breakfast foods division, which sells dry cereals and a pancake mix.
Kim spent the first few months on the job trying to better understand SDF, its product line, and marketing strategy. She reviewed the company's past marketing research, commissioned new research, and talked to both consumers and retailers. Now, the CEO of the company wants her thoughts on what the company's marketing strategy should be for the next few years.
Her research indicates that among cereal customers, there are at least five segments of customers who use SDF products.
A. One segment, the loyalists, has a strong preference for one or two of the SDF cereals. These customers often go out of their way to visit a store with their favorite SDF cereal and buy only that product at the store.
B. Another segment, the regulars, buys SDF cereals without much thought. For them it is just part of their routine and, if you ask them why they pick the cereal, they'd say it's just a habit.
C. A third segment, the deal prone, sees SDF cereals as just another organic cereal. They view all organic cereals as pretty much the same and buy whichever brand seems to offer the best deal that week.
D. A fourth segment, the politicos, consists of former buyers of SDF cereals. A few years ago the company took a strong stand in a presidential race-and these customers resented it. Now, they boycott all SDF foods because of that incident.
E. A fifth segment, SDF who?, is made up of consumers who buy organic cereals but who don't have much awareness of particular organic brand names.
In reviewing how SDF currently brands its products, Kim sees that it is using several different approaches. The Sunny Day Foods brand is used on most products the company sells. But a few years ago the company brought out an instant organic oatmeal with the Hot 'n Healthy name. SDF also makes cereal sold by a health food chain; the package for that chain uses the store's own name, Nature's Foods, as the brand name for the cereal.
What best describes the level of brand familiarity that customers in "the regulars" segment have with SDF?

Accepted Answer

A)  Brand rejection 
B)  Brand insistence 
C)  Brand preference 
D)  Brand nonrecognition 
E)  Brand recognition 
A)  Brand rejection 
B)  Brand insistence 
C)  Brand preference 
D)  Brand nonrecognition 
E)  Brand recognition

Question 19

Generic products are popular in the U.S. and other developed nations, but not in less-developed nations.

Accepted Answer

A) True 
 B)False

Question 20

A product assortment is the set of all product lines and individual products that a firm sells.

Accepted Answer

A) True 
 B)False

Logs, fish, cotton, and strawberries can all be:

The Lanham Act:

Homogeneous shopping products:

Which of the following is NOT a business product?

Component parts usually require much processing to get them ready for assembly.

Which of the following is NOT true when comparing goods and services?

When some customers see all competitors' offerings as basically the same and are willing to spend much time and effort to buy the item at the lowest price, the item is:

The text's consumer product classes are based on:

Which of the following products in a supermarket is MOST likely to be an impulse product?

Staple products:

Which of the following statements about branding is TRUE?

Regarding supplies,

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

If a firm offers a service guarantee, it

Goods are intangible and services are tangible.

Without promotion, unsought products will probably stay unsold.

Brand insistence means that target customers usually choose one brand over other brands, perhaps because of habit or favorable past experience.

Generic products are popular in the U.S. and other developed nations, but not in less-developed nations.

A product assortment is the set of all product lines and individual products that a firm sells.

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

Logs, fish, cotton, and strawberries can all be:

The Lanham Act:

Homogeneous shopping products:

Which of the following is NOT a business product?

Component parts usually require much processing to get them ready for assembly.

Which of the following is NOT true when comparing goods and services?

When some customers see all competitors' offerings as basically the same and are willing to spend much time and effort to buy the item at the lowest price, the item is:

The text's consumer product classes are based on:

Which of the following products in a supermarket is MOST likely to be an impulse product?

Staple products:

Which of the following statements about branding is TRUE?

Regarding supplies,

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

If a firm offers a service guarantee, it

Goods are intangible and services are tangible.

Without promotion, unsought products will probably stay unsold.

Brand insistence means that target customers usually choose one brand over other brands, perhaps because of habit or favorable past experience.

Generic products are popular in the U.S. and other developed nations, but not in less-developed nations.

A product assortment is the set of all product lines and individual products that a firm sells.

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