Question 1

Specialty products:

Accepted Answer

A)  need widespread distribution at low cost. 
B)  need enough exposure to facilitate price comparison. 
C)  need adequate representation near similar products. 
D)  need widespread distribution near probable points of sale. 
E)  can have limited availability. 
A)  need widespread distribution at low cost. 
B)  need enough exposure to facilitate price comparison. 
C)  need adequate representation near similar products. 
D)  need widespread distribution near probable points of sale. 
E)  can have limited availability.

Question 2

The Nutrition Labeling and Education Act of 1990 requires food manufacturers to:

Accepted Answer

A)  list the nutritional value of the food product. 
B)  use a uniform format in the Nutrition Facts panel. 
C)  list the fat content of the food product. 
D)  list ingredients that trigger common food allergies. 
E)  All of these are part of the Nutrition Labeling and Education Act. 
A)  list the nutritional value of the food product. 
B)  use a uniform format in the Nutrition Facts panel. 
C)  list the fat content of the food product. 
D)  list ingredients that trigger common food allergies. 
E)  All of these are part of the Nutrition Labeling and Education Act.

Question 3

Why might the demand for business products be INELASTIC, while the demand facing individual sellers of those products is extremely ELASTIC?

Accepted Answer

A)  Because total demand for business products often exceeds supply. 
B)  Because most business producers use haggling in their buying. 
C)  Because the demand for business products is derived, and some industries have many sellers of essentially homogeneous products. 
D)  Because the industry demand is rising. 
E)  None of these alternatives is correct. 
A)  Because total demand for business products often exceeds supply. 
B)  Because most business producers use haggling in their buying. 
C)  Because the demand for business products is derived, and some industries have many sellers of essentially homogeneous products. 
D)  Because the industry demand is rising. 
E)  None of these alternatives is correct.

Question 4

Consumers in the U.S. generate more trash per person than anywhere else on the planet and packaging is a major contributor to this dilemma.

Accepted Answer

A) True 
 B)False

Question 5

According to the text, "product":

Accepted Answer

A)  means a physical good. 
B)  includes all the elements of a marketing mix. 
C)  means the need-satisfying offering of a firm. 
D)  refers to goods but not services. 
E)  All of these choices are good answers. 
A)  means a physical good. 
B)  includes all the elements of a marketing mix. 
C)  means the need-satisfying offering of a firm. 
D)  refers to goods but not services. 
E)  All of these choices are good answers.

Question 6

Individual products:

Accepted Answer

A)  are part of product lines but not product assortments. 
B)  may require their own marketing mixes. 
C)  are usually distinguished by brand only. 
D)  are part of product assortments but not product lines. 
E)  None of these alternatives is correct. 
A)  are part of product lines but not product assortments. 
B)  may require their own marketing mixes. 
C)  are usually distinguished by brand only. 
D)  are part of product assortments but not product lines. 
E)  None of these alternatives is correct.

Question 7

Saxon Shoes is a large independent shoe store. In the men's department, the store offers three different brands of slip-on tassel loafers for men: Bass, priced at $75; Rockport, priced at $125; and Allen Edmonds, priced at $250. In terms of product quality, which of the following is an accurate statement?

Accepted Answer

A)  The Bass shoes have the lowest quality. 
B)  The Allen-Edmonds shoes have the highest quality. 
C)  The Rockport shoes have mid-level quality. 
D)  The quality of the three brands depends on the degree to which they meet the needs of the consumers in the target market. 
E)  All of these alternatives are correct. 
A)  The Bass shoes have the lowest quality. 
B)  The Allen-Edmonds shoes have the highest quality. 
C)  The Rockport shoes have mid-level quality. 
D)  The quality of the three brands depends on the degree to which they meet the needs of the consumers in the target market. 
E)  All of these alternatives are correct.

Question 8

A consumer is most likely to want and expect help from a salesperson when shopping for

Accepted Answer

A)  a regularly unsought product. 
B)  an impulse product. 
C)  a staple. 
D)  a heterogeneous shopping product. 
E)  a homogeneous shopping product. 
A)  a regularly unsought product. 
B)  an impulse product. 
C)  a staple. 
D)  a heterogeneous shopping product. 
E)  a homogeneous shopping product.

Question 9

Regarding the organization of the product classes, an impulse product is to an emergency product as

Accepted Answer

A)  a new unsought product is to a regularly unsought product. 
B)  an installation is to a homogeneous shopping product. 
C)  an impulse product is to a convenience product. 
D)  a consumer product is to a business product. 
E)  a shopping product is to a specialty product. 
A)  a new unsought product is to a regularly unsought product. 
B)  an installation is to a homogeneous shopping product. 
C)  an impulse product is to a convenience product. 
D)  a consumer product is to a business product. 
E)  a shopping product is to a specialty product.

Question 10

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 11

If a firm offers a written warranty, it

Accepted Answer

A)  must be labeled either "full" or "limited." 
B)  must be available to buyers before the sale. 
C)  shouldn't be "deceptive" or "unfair" per FTC guidelines. 
D)  may help create a new strategy. 
E)  All of these alternatives are correct. 
A)  must be labeled either "full" or "limited." 
B)  must be available to buyers before the sale. 
C)  shouldn't be "deceptive" or "unfair" per FTC guidelines. 
D)  may help create a new strategy. 
E)  All of these alternatives are correct.

Question 12

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.
Which of the following terms best describes the "Sunny Day Foods" brand?

Accepted Answer

A)  Individual brand 
B)  Licensed brand 
C)  Dealer brand 
D)  Family brand 
E)  Private brand 
A)  Individual brand 
B)  Licensed brand 
C)  Dealer brand 
D)  Family brand 
E)  Private brand

Question 13

It is illegal for a firm to use a package that cannot be recycled.

Accepted Answer

A) True 
 B)False

Question 14

______________ means potential customers remember a particular brand.

Accepted Answer

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

Question 15

Ukrop's Supermarkets places the Ukrop's brand on a wide variety of products that are only available in Ukrop's stores. The Ukrop's brand is referred to as a(n):

Accepted Answer

A)  Global brand. 
B)  Manufacturer brand. 
C)  National brand. 
D)  Private brand. 
E)  Producer brand. 
A)  Global brand. 
B)  Manufacturer brand. 
C)  National brand. 
D)  Private brand. 
E)  Producer brand.

Question 16

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 17

Raw materials

Accepted Answer

A)  are treated as expense items. 
B)  are unprocessed but eventually become part of a final physical good. 
C)  include both farm products and natural products. 
D)  move to the next production process with little handling. 
E)  All of these alternatives are correct. 
A)  are treated as expense items. 
B)  are unprocessed but eventually become part of a final physical good. 
C)  include both farm products and natural products. 
D)  move to the next production process with little handling. 
E)  All of these alternatives are correct.

Question 18

Customers see _____ products as different and want to inspect them for quality and suitability.

Accepted Answer

A)  heterogeneous 
B)  specialty 
C)  new unsought 
D)  impulse 
E)  convenience 
A)  heterogeneous 
B)  specialty 
C)  new unsought 
D)  impulse 
E)  convenience

Question 19

Shopping for a specialty product involves comparing the special features of different brands.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following statements about trademarks is TRUE?

Accepted Answer

A)  Trademarks must always be registered in their home country only. 
B)  In the U.S., common law does not protect the rights of owners of brand names and trademarks. 
C)  The Lanham Act requires that all trademarks be registered. 
D)  Registering under the Lanham Act is often a first step to protecting a trademark to be used in foreign markets. 
E)  None of these statements about trademarks is TRUE. 
A)  Trademarks must always be registered in their home country only. 
B)  In the U.S., common law does not protect the rights of owners of brand names and trademarks. 
C)  The Lanham Act requires that all trademarks be registered. 
D)  Registering under the Lanham Act is often a first step to protecting a trademark to be used in foreign markets. 
E)  None of these statements about trademarks is TRUE.

Specialty products:

The Nutrition Labeling and Education Act of 1990 requires food manufacturers to:

Why might the demand for business products be INELASTIC, while the demand facing individual sellers of those products is extremely ELASTIC?

Consumers in the U.S. generate more trash per person than anywhere else on the planet and packaging is a major contributor to this dilemma.

According to the text, "product":

Individual products:

A consumer is most likely to want and expect help from a salesperson when shopping for

Regarding the organization of the product classes, an impulse product is to an emergency product as

Regarding installations, which is NOT true?

If a firm offers a written warranty, it

It is illegal for a firm to use a package that cannot be recycled.

______________ means potential customers remember a particular brand.

Ukrop's Supermarkets places the Ukrop's brand on a wide variety of products that are only available in Ukrop's stores. The Ukrop's brand is referred to as a(n):

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

Raw materials

Customers see _____ products as different and want to inspect them for quality and suitability.

Shopping for a specialty product involves comparing the special features of different brands.

Which of the following statements about trademarks is TRUE?

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

Specialty products:

The Nutrition Labeling and Education Act of 1990 requires food manufacturers to:

Why might the demand for business products be INELASTIC, while the demand facing individual sellers of those products is extremely ELASTIC?

Consumers in the U.S. generate more trash per person than anywhere else on the planet and packaging is a major contributor to this dilemma.

According to the text, "product":

Individual products:

A consumer is most likely to want and expect help from a salesperson when shopping for

Regarding the organization of the product classes, an impulse product is to an emergency product as

Regarding installations, which is NOT true?

If a firm offers a written warranty, it

It is illegal for a firm to use a package that cannot be recycled.

______________ means potential customers remember a particular brand.

Ukrop's Supermarkets places the Ukrop's brand on a wide variety of products that are only available in Ukrop's stores. The Ukrop's brand is referred to as a(n):

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

Raw materials

Customers see _____ products as different and want to inspect them for quality and suitability.

Shopping for a specialty product involves comparing the special features of different brands.

Which of the following statements about trademarks is TRUE?

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