Question 1

A company with a large product assortment might

Accepted Answer

A)  have many product lines with little selection in each. 
B)  have a single product line. 
C)  have many individual products. 
D)  All of these choices are correct. 
A)  have many product lines with little selection in each. 
B)  have a single product line. 
C)  have many individual products. 
D)  All of these choices are correct. D

Question 2

Dealer brands, compared to manufacturer brands, usually offer wholesalers and retailers:

Accepted Answer

A)  less risk. 
B)  higher gross margins. 
C)  faster turnover at reduced selling costs. 
D)  products which are presold to target customers. 
E)  more prestige. 
A)  less risk. 
B)  higher gross margins. 
C)  faster turnover at reduced selling costs. 
D)  products which are presold to target customers. 
E)  more prestige. B

Question 3

An important difference between raw materials and other business products is the need for grading.

Accepted Answer

A) True 
 B)False  True

Question 4

Which of the following statements is not characteristic of a good?

Accepted Answer

A)  Goods are tangible items that can be touched. 
B)  Goods can be produced and then stored to sell at some future time. 
C)  Goods are typically manufactured at the location where the customer makes the purchase. 
D)  Goods can be owned by the customer. 
E)  Goods are typically mass-produced. 
A)  Goods are tangible items that can be touched. 
B)  Goods can be produced and then stored to sell at some future time. 
C)  Goods are typically manufactured at the location where the customer makes the purchase. 
D)  Goods can be owned by the customer. 
E)  Goods are typically mass-produced.

Question 5

Until recently, Emil Flores wouldn't buy any coffee except "Blue Mountain"-a relatively expensive type that few stores sell. He used to have to drive about 10 miles out of his way to buy it at a small shop. Then he was at a friend's home and tried an inexpensive brand of coffee sold by the local supermarket chain. Now he won't buy anything except that brand. For him, the supermarket coffee is

Accepted Answer

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

Question 6

Beth Sahadi usually buys Sassoon shampoo because she likes its smell. But this morning her local drugstore was out of Sassoon, so she decided to buy another highly advertised brand that was on sale because she really needed to wash her hair that night. For Beth, Sassoon has probably achieved brand:

Accepted Answer

A)  preference. 
B)  insistence. 
C)  nonrecognition. 
D)  rejection. 
E)  extinction. 
A)  preference. 
B)  insistence. 
C)  nonrecognition. 
D)  rejection. 
E)  extinction.

Question 7

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 8

Customers view regularly unsought products as

Accepted Answer

A)  basically the same. 
B)  really new ideas that potential customers do not know about yet. 
C)  undesirable but not unsold forever. 
D)  different and they want to inspect them for quality and suitability. 
E)  worth the time and effort to compare with competing products. 
A)  basically the same. 
B)  really new ideas that potential customers do not know about yet. 
C)  undesirable but not unsold forever. 
D)  different and they want to inspect them for quality and suitability. 
E)  worth the time and effort to compare with competing products.

Question 9

Which of the following is a condition favorable to successful branding?

Accepted Answer

A)  The product quality is difficult to maintain. 
B)  The product is difficult to label and identify by brand. 
C)  Favorable shelf locations or display spaces are available in stores. 
D)  Limited availability for the product in the market. 
E)  No economies of scale for the product. 
A)  The product quality is difficult to maintain. 
B)  The product is difficult to label and identify by brand. 
C)  Favorable shelf locations or display spaces are available in stores. 
D)  Limited availability for the product in the market. 
E)  No economies of scale for the product.

Question 10

A ______________ is a word, letter, or group of words or letters.

Accepted Answer

A)  UPC 
B)  FTC 
C)  trademark 
D)  SIC 
E)  brand name 
A)  UPC 
B)  FTC 
C)  trademark 
D)  SIC 
E)  brand name

Question 11

By definition, a brand name may not include:

Accepted Answer

A)  the company name. 
B)  the product name. 
C)  words. 
D)  groups of words. 
E)  symbols and pictures. 
A)  the company name. 
B)  the product name. 
C)  words. 
D)  groups of words. 
E)  symbols and pictures.

Question 12

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 13

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 14

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 15

If a consumer purchases a new watch, the watch is:

Accepted Answer

A)  a specialty product. 
B)  a heterogeneous shopping product. 
C)  a homogeneous shopping product. 
D)  a convenience product. 
E)  it is not obvious-the watch could be any of these choices. 
A)  a specialty product. 
B)  a heterogeneous shopping product. 
C)  a homogeneous shopping product. 
D)  a convenience product. 
E)  it is not obvious-the watch could be any of these choices.

Question 16

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 17

Wilbur Donald has had good experience using Crest toothpaste and is in the habit of buying it. His level of brand familiarity for Crest is:

Accepted Answer

A)  brand insistence. 
B)  brand preference. 
C)  brand desire. 
D)  brand recognition. 
E)  brand identity. 
A)  brand insistence. 
B)  brand preference. 
C)  brand desire. 
D)  brand recognition. 
E)  brand identity.

Question 18

While shopping in a local supermarket, Jolene Partin came upon an aisle display of cookies and had to have some-immediately. By the time she got to the checkout counter with the rest of her selections, all the cookies were gone. In this case, the cookies were:

Accepted Answer

A)  an impulse product. 
B)  a staple product. 
C)  an unsought product. 
D)  very nutritious. 
E)  a consumption product. 
A)  an impulse product. 
B)  a staple product. 
C)  an unsought product. 
D)  very nutritious. 
E)  a consumption product.

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Brand equity is the value of the brand's overall strength in the market.

Accepted Answer

A) True 
 B)False

A company with a large product assortment might

Dealer brands, compared to manufacturer brands, usually offer wholesalers and retailers:

An important difference between raw materials and other business products is the need for grading.

Which of the following statements is not characteristic of a good?

Beth Sahadi usually buys Sassoon shampoo because she likes its smell. But this morning her local drugstore was out of Sassoon, so she decided to buy another highly advertised brand that was on sale because she really needed to wash her hair that night. For Beth, Sassoon has probably achieved brand:

Homogeneous shopping products:

Customers view regularly unsought products as

Which of the following is a condition favorable to successful branding?

A ______________ is a word, letter, or group of words or letters.

By definition, a brand name may not include:

Compared to installations, accessory equipment

Which of the following is NOT a business raw material?

Which of the following is NOT favorable to successful branding?

If a consumer purchases a new watch, the watch is:

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

Wilbur Donald has had good experience using Crest toothpaste and is in the habit of buying it. His level of brand familiarity for Crest is:

While shopping in a local supermarket, Jolene Partin came upon an aisle display of cookies and had to have some-immediately. By the time she got to the checkout counter with the rest of her selections, all the cookies were gone. In this case, the cookies were:

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

Brand equity is the value of the brand's overall strength in the market.

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing 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

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Implementing and Controlling Marketing Plans: Evolution and Revolution

Managing Marketings Link With Other Functional Areas

Ethical Marketing in a Consumer-Oriented World

Filters

Exam 8: Elements of Product Planning for Goods and Services

A company with a large product assortment might

Dealer brands, compared to manufacturer brands, usually offer wholesalers and retailers:

An important difference between raw materials and other business products is the need for grading.

Which of the following statements is not characteristic of a good?

Beth Sahadi usually buys Sassoon shampoo because she likes its smell. But this morning her local drugstore was out of Sassoon, so she decided to buy another highly advertised brand that was on sale because she really needed to wash her hair that night. For Beth, Sassoon has probably achieved brand:

Homogeneous shopping products:

Customers view regularly unsought products as

Which of the following is a condition favorable to successful branding?

A ______________ is a word, letter, or group of words or letters.

By definition, a brand name may not include:

Compared to installations, accessory equipment

Which of the following is NOT a business raw material?

Which of the following is NOT favorable to successful branding?

If a consumer purchases a new watch, the watch is:

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

Wilbur Donald has had good experience using Crest toothpaste and is in the habit of buying it. His level of brand familiarity for Crest is:

While shopping in a local supermarket, Jolene Partin came upon an aisle display of cookies and had to have some-immediately. By the time she got to the checkout counter with the rest of her selections, all the cookies were gone. In this case, the cookies were:

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

Brand equity is the value of the brand's overall strength in the market.

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing 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

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Implementing and Controlling Marketing Plans: Evolution and Revolution

Managing Marketings Link With Other Functional Areas

Ethical Marketing in a Consumer-Oriented World

Filters