Question 1

Although the total industry demand for business products may be inelastic, the demand facing individual sellers may be extremely elastic.

Accepted Answer

A) True 
 B)False

Question 2

A "Product" should be thought of as potential customer satisfaction or benefits.

Accepted Answer

A) True 
 B)False

Question 3

What type of business product is General Motors purchasing when it asks a law firm for bankruptcy advice?

Accepted Answer

A)  Emergency product 
B)  Professional service 
C)  Component 
D)  Accessory 
E)  Installation 
A)  Emergency product 
B)  Professional service 
C)  Component 
D)  Accessory 
E)  Installation

Question 4

From a marketing perspective, product quality primarily depends on,

Accepted Answer

A)  the price of a product. 
B)  a product working as it is supposed to work. 
C)  quality control procedures used during manufacturing. 
D)  the customer's specific requirements and needs. 
E)  the features of products offered by competitors. 
A)  the price of a product. 
B)  a product working as it is supposed to work. 
C)  quality control procedures used during manufacturing. 
D)  the customer's specific requirements and needs. 
E)  the features of products offered by competitors.

Question 5

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 6

A service mark is the same as a trademark, except that it refers to a service offering.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A)  Quality 
B)  Service 
C)  Trademark 
D)  Derived demand 
E)  Assortment 
A)  Quality 
B)  Service 
C)  Trademark 
D)  Derived demand 
E)  Assortment

Question 8

Ross Wrigley refuses to buy Billy Goat brand of beer; his attitude toward this brand is called _____.

Accepted Answer

A)  brand rejection 
B)  brand familiarity 
C)  brand nonrecognition 
D)  brand recognition 
E)  brand positioning 
A)  brand rejection 
B)  brand familiarity 
C)  brand nonrecognition 
D)  brand recognition 
E)  brand positioning

Question 9

A marketing manager developing a marketing mix to sell ______ probably needs to be concerned with grading, transportation, and storing because of seasonal production and/or perishable products.

Accepted Answer

A)  component parts 
B)  accessories 
C)  impulse 
D)  supplies 
E)  raw materials 
A)  component parts 
B)  accessories 
C)  impulse 
D)  supplies 
E)  raw materials

Question 10

Because packaged products are regularly seen in retail stores, a good package may give a firm more promotion effect than it could possibly afford with advertising.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is NOT one of the consumer product classes discussed in the text?

Accepted Answer

A)  Unsought products 
B)  Imitation products 
C)  Shopping products 
D)  Convenience products 
E)  Specialty products 
A)  Unsought products 
B)  Imitation products 
C)  Shopping products 
D)  Convenience products 
E)  Specialty products

Question 12

A major advantage of dealer brands is that the intermediary usually earns a better margin than the intermediary would earn with manufacturer brands.

Accepted Answer

A) True 
 B)False

Question 13

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 14

Warranties inspire customer confidence and trust for all the following reasons except:

Accepted Answer

A)  they make legally enforceable promises about product performance. 
B)  they show that marketers stand behind their products. 
C)  some reduce the responsibility a producer would have under common law. 
D)  they offer refunds or replacement for defective products. 
E)  they are clearly written and included with products for easy access. 
A)  they make legally enforceable promises about product performance. 
B)  they show that marketers stand behind their products. 
C)  some reduce the responsibility a producer would have under common law. 
D)  they offer refunds or replacement for defective products. 
E)  they are clearly written and included with products for easy access.

Question 15

Business professional services:

Accepted Answer

A)  may not be purchased outside the firm if they are needed regularly. 
B)  support a firm's operations. 
C)  are offered by a growing number of specialists. 
D)  are generally treated as expense items. 
E)  All of these alternatives are correct. 
A)  may not be purchased outside the firm if they are needed regularly. 
B)  support a firm's operations. 
C)  are offered by a growing number of specialists. 
D)  are generally treated as expense items. 
E)  All of these alternatives are correct.

Question 16

Customer service guarantees are becoming less common because service companies can't live up to their promises.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

A)  Maintenance items are to business buyers as convenience products are to final consumers. 
B)  Supplies do not become part of a final product, but they are expense items. 
C)  Buyers of important operating supplies are likely to be particularly concerned about dependability. 
D)  Operating supplies are frequently called "accessories." 
E)  A seller of repair supplies is likely to face fewer competitors than a seller of operating supplies. 
A)  Maintenance items are to business buyers as convenience products are to final consumers. 
B)  Supplies do not become part of a final product, but they are expense items. 
C)  Buyers of important operating supplies are likely to be particularly concerned about dependability. 
D)  Operating supplies are frequently called "accessories." 
E)  A seller of repair supplies is likely to face fewer competitors than a seller of operating supplies.

Question 18

Expense items are depreciated over many years, while capital items are charged off as they are used-usually in the year of purchase.

Accepted Answer

A) True 
 B)False

Question 19

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 20

When selling ____ products, a marketing manager should recognize that consumers have low price sensitivity and the product should have widespread distribution near the probable point of need.

Accepted Answer

A)  homogeneous 
B)  specialty 
C)  emergency 
D)  impulse 
E)  regularly unsought 
A)  homogeneous 
B)  specialty 
C)  emergency 
D)  impulse 
E)  regularly unsought

Although the total industry demand for business products may be inelastic, the demand facing individual sellers may be extremely elastic.

A "Product" should be thought of as potential customer satisfaction or benefits.

What type of business product is General Motors purchasing when it asks a law firm for bankruptcy advice?

From a marketing perspective, product quality primarily depends on,

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

A service mark is the same as a trademark, except that it refers to a service offering.

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

Ross Wrigley refuses to buy Billy Goat brand of beer; his attitude toward this brand is called _____.

A marketing manager developing a marketing mix to sell ______ probably needs to be concerned with grading, transportation, and storing because of seasonal production and/or perishable products.

Because packaged products are regularly seen in retail stores, a good package may give a firm more promotion effect than it could possibly afford with advertising.

Which of the following is NOT one of the consumer product classes discussed in the text?

A major advantage of dealer brands is that the intermediary usually earns a better margin than the intermediary would earn with manufacturer brands.

Another term for a dealer brand is a(n):

Warranties inspire customer confidence and trust for all the following reasons except:

Business professional services:

Customer service guarantees are becoming less common because service companies can't live up to their promises.

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

Expense items are depreciated over many years, while capital items are charged off as they are used-usually in the year of purchase.

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:

When selling ____ products, a marketing manager should recognize that consumers have low price sensitivity and the product should have widespread distribution near the probable point of need.

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

Although the total industry demand for business products may be inelastic, the demand facing individual sellers may be extremely elastic.

A "Product" should be thought of as potential customer satisfaction or benefits.

What type of business product is General Motors purchasing when it asks a law firm for bankruptcy advice?

From a marketing perspective, product quality primarily depends on,

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

A service mark is the same as a trademark, except that it refers to a service offering.

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

Ross Wrigley refuses to buy Billy Goat brand of beer; his attitude toward this brand is called _____.

A marketing manager developing a marketing mix to sell ______ probably needs to be concerned with grading, transportation, and storing because of seasonal production and/or perishable products.

Because packaged products are regularly seen in retail stores, a good package may give a firm more promotion effect than it could possibly afford with advertising.

Which of the following is NOT one of the consumer product classes discussed in the text?

A major advantage of dealer brands is that the intermediary usually earns a better margin than the intermediary would earn with manufacturer brands.

Another term for a dealer brand is a(n):

Warranties inspire customer confidence and trust for all the following reasons except:

Business professional services:

Customer service guarantees are becoming less common because service companies can't live up to their promises.

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

Expense items are depreciated over many years, while capital items are charged off as they are used-usually in the year of purchase.

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:

When selling ____ products, a marketing manager should recognize that consumers have low price sensitivity and the product should have widespread distribution near the probable point of need.

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