Question 1

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 2

A product assortment is:

Accepted Answer

A)  something offered by manufacturers but not by retailers. 
B)  a particular product within a product line. 
C)  a set of products that are closely related. 
D)  the set of all product lines and individual products that a firm sells. 
E)  None of these alternatives is correct. 
A)  something offered by manufacturers but not by retailers. 
B)  a particular product within a product line. 
C)  a set of products that are closely related. 
D)  the set of all product lines and individual products that a firm sells. 
E)  None of these alternatives is correct.

Question 3

Another term for a dealer brand is a(n)______.

Accepted Answer

A)  family brand 
B)  individual brand 
C)  franchise brand 
D)  private label brand 
E)  generic brand 
A)  family brand 
B)  individual brand 
C)  franchise brand 
D)  private label brand 
E)  generic brand

Question 4

Packaging can add value to a market offering by promoting,protecting,or enhancing the product.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is the best example of an individual product?

Accepted Answer

A)  32-ounce boxes of Gain and Tide 
B)  Three types of pears 
C)  Six brands of cookies 
D)  12 oz. size of Pert Plus 
E)  two brands of mountain bikes 
A)  32-ounce boxes of Gain and Tide 
B)  Three types of pears 
C)  Six brands of cookies 
D)  12 oz. size of Pert Plus 
E)  two brands of mountain bikes

Question 6

A carefully designed package may:

Accepted Answer

A)  raise or lower total distribution cost. 
B)  provide more "promotion" effect than advertising.
F 
C)  enhance the product by making it easier or safer to use. 
D)  offer product information that helps consumers buy. 
E)  All of these alternatives are correct. 
A)  raise or lower total distribution cost. 
B)  provide more "promotion" effect than advertising.
F 
C)  enhance the product by making it easier or safer to use. 
D)  offer product information that helps consumers buy. 
E)  All of these alternatives are correct.

Question 7

Vision Co.manufactures and sells tea,coffee,desserts,shoes,and sporting goods.All of these products are its ______.

Accepted Answer

A)  product line 
B)  equity products 
C)  complementary goods 
D)  product assortment 
E)  brand family 
A)  product line 
B)  equity products 
C)  complementary goods 
D)  product assortment 
E)  brand family

Question 8

Nonrecognition of the brand name of a firm's product is likely to be LEAST important for:

Accepted Answer

A)  Coal 
B)  Photographic film 
C)  Lubricating oils for machinery 
D)  Cold tablets 
E)  Replacement auto repair parts 
A)  Coal 
B)  Photographic film 
C)  Lubricating oils for machinery 
D)  Cold tablets 
E)  Replacement auto repair parts

Question 9

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)  can be offered for at leat five years 
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)  can be offered for at leat five years

Question 10

Procter and Gamble buys unprocessed logs which are handled as little as needed to move them to its plant.Eventually,they become part of P and G's disposable diapers and are considered an expense item on P and G's income statement.For P and G,logs are:

Accepted Answer

A)  farm products 
B)  supplies 
C)  component parts 
D)  component materials 
E)  raw materials 
A)  farm products 
B)  supplies 
C)  component parts 
D)  component materials 
E)  raw materials

Question 11

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 12

Which of the following is NOT a business raw material?

Accepted Answer

A)  Logs. 
B)  Coal. 
C)  Wheat. 
D)  Cattle. 
E)  All of these are business raw materials. 
A)  Logs. 
B)  Coal. 
C)  Wheat. 
D)  Cattle. 
E)  All of these are business raw materials.

Question 13

Which of the following is a benefit of branding from the perspective of the manufacturer?

Accepted Answer

A)  Brands improve a company's image. 
B)  Brands speed acceptance of new products. 
C)  Brands reduce selling time and effort, especially for new products marketed under the same name. 
D)  All of these are benefits to manufacturers. 
A)  Brands improve a company's image. 
B)  Brands speed acceptance of new products. 
C)  Brands reduce selling time and effort, especially for new products marketed under the same name. 
D)  All of these are benefits to manufacturers.

Question 14

The Federal Fair Packaging and Labeling Act of 1966 requires that consumer products be clearly labeled in understandable terms.

Accepted Answer

A) True 
 B)False

Question 15

Gavan and Rebekah want to buy a flat-screen TV.They look at several brands in several different stores before finally deciding on a Sharp.This set was the most expensive model they saw,but they felt it had better colors and would be more reliable.In this case,this TV is ______.

Accepted Answer

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

Question 16

Good packaging can provide a product with an important competitive advantage.

Accepted Answer

A) True 
 B)False

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

Bonafide Electric produces electric motors that power refrigerators,air condition units,washing machines,and many other electric appliances produced by various manufacturers.Bonafide Electric is selling

Accepted Answer

A)  raw materials. 
B)  component parts. 
C)  MRO items. 
D)  accessory equipment. 
E)  installations. 
A)  raw materials. 
B)  component parts. 
C)  MRO items. 
D)  accessory equipment. 
E)  installations.

Question 19

Business products that are necessary expense items,and continually used up,but which do not become part of the buyer's final product are:

Accepted Answer

A)  component materials. 
B)  supplies. 
C)  component parts. 
D)  raw materials. 
E)  accessory equipment. 
A)  component materials. 
B)  supplies. 
C)  component parts. 
D)  raw materials. 
E)  accessory equipment.

Question 20

Product line length refers to the amount of the different products that come under the same family brand.

Accepted Answer

A) True 
 B)False

Exam 10: Elements of Product Planning for Goods and Services

Which of the following is NOT a business product?

A product assortment is:

Another term for a dealer brand is a(n)______.

Packaging can add value to a market offering by promoting,protecting,or enhancing the product.

Which of the following is the best example of an individual product?

A carefully designed package may:

Vision Co.manufactures and sells tea,coffee,desserts,shoes,and sporting goods.All of these products are its ______.

Nonrecognition of the brand name of a firm's product is likely to be LEAST important for:

If a firm offers a service guarantee,it ______.

Procter and Gamble buys unprocessed logs which are handled as little as needed to move them to its plant.Eventually,they become part of P and G's disposable diapers and are considered an expense item on P and G's income statement.For P and G,logs are:

Compared to installations,accessory equipment

Which of the following is NOT a business raw material?

Which of the following is a benefit of branding from the perspective of the manufacturer?

The Federal Fair Packaging and Labeling Act of 1966 requires that consumer products be clearly labeled in understandable terms.

Gavan and Rebekah want to buy a flat-screen TV.They look at several brands in several different stores before finally deciding on a Sharp.This set was the most expensive model they saw,but they felt it had better colors and would be more reliable.In this case,this TV is ______.

Good packaging can provide a product with an important competitive advantage.

Regarding business products,

Bonafide Electric produces electric motors that power refrigerators,air condition units,washing machines,and many other electric appliances produced by various manufacturers.Bonafide Electric is selling

Business products that are necessary expense items,and continually used up,but which do not become part of the buyer's final product are:

Product line length refers to the amount of the different products that come under the same family brand.

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