Question 1

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

Accepted Answer

A)  Bread 
B)  Local newspaper 
C)  Camera film 
D)  An ice cream cone 
E)  Flashlight batteries 
A)  Bread 
B)  Local newspaper 
C)  Camera film 
D)  An ice cream cone 
E)  Flashlight batteries

Question 2

____ are short-lived capital items.

Accepted Answer

A)  Accessories 
B)  Installations 
C)  Raw materials 
D)  Components 
E)  Professional services 
A)  Accessories 
B)  Installations 
C)  Raw materials 
D)  Components 
E)  Professional services

Question 3

Which of the following is NOT favorable to successful branding?

Accepted Answer

A)  Consistent quality can be maintained. 
B)  Access to favorable shelf locations is very limited. 
C)  Economies of scale should be possible. 
D)  The product is easy to identify by brand or trademark. 
E)  Dependable and widespread availability should be possible. 
A)  Consistent quality can be maintained. 
B)  Access to favorable shelf locations is very limited. 
C)  Economies of scale should be possible. 
D)  The product is easy to identify by brand or trademark. 
E)  Dependable and widespread availability should be possible.

Question 4

A trademark can be a word,but cannot be a symbol.

Accepted Answer

A) True 
 B)False

Question 5

Brand names that convey a positive image in one language may be meaningless in another.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following consumer products is most likely to be classified as "unsought"?

Accepted Answer

A)  Tablet computer 
B)  Tires 
C)  Life insurance 
D)  Band aids 
E)  House paint 
A)  Tablet computer 
B)  Tires 
C)  Life insurance 
D)  Band aids 
E)  House paint

Question 7

Boatwright College gives manufacturers of clothing and gift items permission to place the college's name and emblem on a wide variety of merchandise.In return,Boatwright is paid a fee for granting this permission.In this case,the Boatwright name and logo is a(n): )______.

Accepted Answer

A)  Manufacturer manufacturer brand 
B)  Individual individual brand 
C)  Dealer dealer brand 
D)  Licensed licensed brand 
E)  private brand 
A)  Manufacturer manufacturer brand 
B)  Individual individual brand 
C)  Dealer dealer brand 
D)  Licensed licensed brand 
E)  private brand

Question 8

Regarding business products,which of the following is NOT true?

Accepted Answer

A)  Availability may be more important than low price to a buyer of repair items. 
B)  Quality of service may be more important than low price to a buyer of professional services. 
C)  A broad product assortment may be more important than low price to a buyer of supply items. 
D)  Meeting specifications may be more important than low price to a buyer of component parts. 
E)  All of these alternatives are true. 
A)  Availability may be more important than low price to a buyer of repair items. 
B)  Quality of service may be more important than low price to a buyer of professional services. 
C)  A broad product assortment may be more important than low price to a buyer of supply items. 
D)  Meeting specifications may be more important than low price to a buyer of component parts. 
E)  All of these alternatives are true.

Question 9

Drue Valentine is a management consultant who helps manufacturers improve their quality-control procedures for new products.Drue is selling ______.

Accepted Answer

A)  supplies 
B)  components 
C)  accessories 
D)  MROs 
E)  professional services 
A)  supplies 
B)  components 
C)  accessories 
D)  MROs 
E)  professional services

Question 10

The need-satisfying offering of a firm is its

Accepted Answer

A)  promotion. 
B)  warranty. 
C)  brand. 
D)  product. 
E)  relative quality. 
A)  promotion. 
B)  warranty. 
C)  brand. 
D)  product. 
E)  relative quality.

Question 11

It is usually more difficult to provide consistent quality for goods as opposed to services.

Accepted Answer

A) True 
 B)False

Question 12

Roberto Vasquez has never owned a Samsung TV,but his parents owned one and were not at all satisfied.As a result,Roberto won't even consider buying a Samsung.As far as Roberto is concerned,Samsung has achieved brand ______________.

Accepted Answer

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

Question 13

Business product classes are based on the way that buyers shop for and buy products,because there is much more shopping for business products compared to consumer products.

Accepted Answer

A) True 
 B)False

Question 14

Raw materials are short-lived capital items.

Accepted Answer

A) True 
 B)False

Question 15

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 16

When final consumers are willing to spend much time and effort comparing quality and style-with brand and price being less important-the product is ______.

Accepted Answer

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

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

There are two broad groups of product classes based on the type of customer that will use the product.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is 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 20

_____ means a product's ability to satisfy a customer's needs or requirements.

Accepted Answer

A)  Quality 
B)  Service 
C)  Trademark 
D)  Brand 
E)  Assortment 
A)  Quality 
B)  Service 
C)  Trademark 
D)  Brand 
E)  Assortment

Exam 10: Elements of Product Planning for Goods and Services

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

____ are short-lived capital items.

Which of the following is NOT favorable to successful branding?

A trademark can be a word,but cannot be a symbol.

Brand names that convey a positive image in one language may be meaningless in another.

Which of the following consumer products is most likely to be classified as "unsought"?

Boatwright College gives manufacturers of clothing and gift items permission to place the college's name and emblem on a wide variety of merchandise.In return,Boatwright is paid a fee for granting this permission.In this case,the Boatwright name and logo is a(n): )______.

Regarding business products,which of the following is NOT true?

Drue Valentine is a management consultant who helps manufacturers improve their quality-control procedures for new products.Drue is selling ______.

The need-satisfying offering of a firm is its

It is usually more difficult to provide consistent quality for goods as opposed to services.

Roberto Vasquez has never owned a Samsung TV,but his parents owned one and were not at all satisfied.As a result,Roberto won't even consider buying a Samsung.As far as Roberto is concerned,Samsung has achieved brand ______________.

Business product classes are based on the way that buyers shop for and buy products,because there is much more shopping for business products compared to consumer products.

Raw materials are short-lived capital items.

The Lanham Act:

When final consumers are willing to spend much time and effort comparing quality and style-with brand and price being less important-the product is ______.

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

There are two broad groups of product classes based on the type of customer that will use the product.

Which of the following is NOT a business raw material?

_____ means a product's ability to satisfy a customer's needs or requirements.

Marketings Value to Consumers, Firms, and Society

Implementing and Controlling Marketing Plans: Evolution and Revolution

Marketing Strategy Planning

Managing Marketings Link With Other Functional Areas

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 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