Question 1

Branding can help BRANDERS because it:

Accepted Answer

A)  may lower promotion costs. 
B)  can improve the company's image. 
C)  encourages repeat buying. 
D)  may develop customer loyalty. 
E)  All of these alternatives are correct. 
A)  may lower promotion costs. 
B)  can improve the company's image. 
C)  encourages repeat buying. 
D)  may develop customer loyalty. 
E)  All of these alternatives are correct.

Question 2

"Product" means:

Accepted Answer

A)  all the services needed with a physical good. 
B)  a physical good with all its related services. 
C)  the need-satisfying offering of a firm. 
D)  all of a firm's producing and distribution activities. 
E)  a well-packaged item with a well-advertised brand name. 
A)  all the services needed with a physical good. 
B)  a physical good with all its related services. 
C)  the need-satisfying offering of a firm. 
D)  all of a firm's producing and distribution activities. 
E)  a well-packaged item with a well-advertised brand name.

Question 3

A product line is a set of individual products that are closely related.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Impulse products are:

Accepted Answer

A)  products that potential customers do not want yet or know they can buy. 
B)  bought quickly-as unplanned purchases-because of a strongly felt need. 
C)  any products that consumers search for because of a strongly felt craving. 
D)  any convenience products that are bought often and routinely. 
E)  none of these alternatives is correct. 
A)  products that potential customers do not want yet or know they can buy. 
B)  bought quickly-as unplanned purchases-because of a strongly felt need. 
C)  any products that consumers search for because of a strongly felt craving. 
D)  any convenience products that are bought often and routinely. 
E)  none of these alternatives is correct.

Question 6

A product assortment is the set of all product lines and individual products that a firm sells.

Accepted Answer

A) True 
 B)False

Question 7

______ are a boom-or-bust business.

Accepted Answer

A)  Accessories 
B)  Professional services 
C)  Installations 
D)  Specialty 
E)  Supplies 
A)  Accessories 
B)  Professional services 
C)  Installations 
D)  Specialty 
E)  Supplies

Question 8

A product which has no brand other than the identification of the contents is a generic product.

Accepted Answer

A) True 
 B)False

Question 9

Impulse products:

Accepted Answer

A)  can have limited availability as long as display is good. 
B)  need widespread distribution with display at point of purchase. 
C)  need enough exposure to facilitate price comparisons. 
D)  need adequate representation in major shopping areas. 
E)  need widespread distribution at low cost. 
A)  can have limited availability as long as display is good. 
B)  need widespread distribution with display at point of purchase. 
C)  need enough exposure to facilitate price comparisons. 
D)  need adequate representation in major shopping areas. 
E)  need widespread distribution at low cost.

Question 10

Products which a consumer needs but isn't willing to spend much time shopping for are convenience products.

Accepted Answer

A) True 
 B)False

Question 11

Product means the need-satisfying offering of a firm.

Accepted Answer

A) True 
 B)False

Question 12

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)  None of these alternatives is correct. 
A)  an inspection product. 
B)  a heterogeneous shopping product. 
C)  a homogeneous shopping product. 
D)  a specialty product. 
E)  None of these alternatives is correct.

Question 13

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 14

Regarding consumer product classes, a convenience product is to an emergency product as

Accepted Answer

A)  a staple is to an emergency product. 
B)  a shopping product is to a heterogeneous shopping product. 
C)  an unsought product is to a specialty product. 
D)  a new unsought product is to a regularly unsought product. 
E)  a specialty product is to a homogeneous shopping product. 
A)  a staple is to an emergency product. 
B)  a shopping product is to a heterogeneous shopping product. 
C)  an unsought product is to a specialty product. 
D)  a new unsought product is to a regularly unsought product. 
E)  a specialty product is to a homogeneous shopping product.

Question 15

Regarding accessory equipment, which of the following is NOT true?

Accepted Answer

A)  Multiple buying influence is less important in the purchase of an installation than with accessory equipment. 
B)  There are more customers for accessory equipment than for installations. 
C)  Specialized services are more important in the purchase of installations than accessories. 
D)  There are more sellers of accessory equipment than of installations. 
E)  All of these statements ARE true. 
A)  Multiple buying influence is less important in the purchase of an installation than with accessory equipment. 
B)  There are more customers for accessory equipment than for installations. 
C)  Specialized services are more important in the purchase of installations than accessories. 
D)  There are more sellers of accessory equipment than of installations. 
E)  All of these statements ARE true.

Question 16

Regarding supplies,

Accepted Answer

A)  new-task buying is typical with most purchases. 
B)  only one supplier is generally available. 
C)  branding is not important for maintenance and small operating supplies. 
D)  breadth of assortment is important, but dependability is not. 
E)  None of these alternatives is correct. 
A)  new-task buying is typical with most purchases. 
B)  only one supplier is generally available. 
C)  branding is not important for maintenance and small operating supplies. 
D)  breadth of assortment is important, but dependability is not. 
E)  None of these alternatives is correct.

Question 17

The Federal Fair Packaging and Labeling Act:

Accepted Answer

A)  was created due to consumer criticism of packaging and labeling. 
B)  calls on government agencies and industry to try to reduce the number of packaging sizes. 
C)  requires that consumer goods be clearly labeled in understandable terms. 
D)  All of these alternatives are correct. 
A)  was created due to consumer criticism of packaging and labeling. 
B)  calls on government agencies and industry to try to reduce the number of packaging sizes. 
C)  requires that consumer goods be clearly labeled in understandable terms. 
D)  All of these alternatives are correct.

Question 18

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 19

Manufacturer brands are also called ___________.

Accepted Answer

A)  dealer brands 
B)  global brands 
C)  national brands 
D)  private brands 
E)  store brands 
A)  dealer brands 
B)  global brands 
C)  national brands 
D)  private brands 
E)  store brands

Question 20

Goods are typically mass-produced in a factory far away from customers, while services are produced in their presence.

Accepted Answer

A) True 
 B)False

Branding can help BRANDERS because it:

"Product" means:

A product line is a set of individual products that are closely related.

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

Impulse products are:

A product assortment is the set of all product lines and individual products that a firm sells.

______ are a boom-or-bust business.

A product which has no brand other than the identification of the contents is a generic product.

Impulse products:

Products which a consumer needs but isn't willing to spend much time shopping for are convenience products.

Product means the need-satisfying offering of a firm.

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:

Which of the following is NOT a business raw material?

Regarding consumer product classes, a convenience product is to an emergency product as

Regarding accessory equipment, which of the following is NOT true?

Regarding supplies,

The Federal Fair Packaging and Labeling Act:

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

Manufacturer brands are also called ___________.

Goods are typically mass-produced in a factory far away from customers, while services are produced in their presence.

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

Branding can help BRANDERS because it:

"Product" means:

A product line is a set of individual products that are closely related.

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

Impulse products are:

A product assortment is the set of all product lines and individual products that a firm sells.

______ are a boom-or-bust business.

A product which has no brand other than the identification of the contents is a generic product.

Impulse products:

Products which a consumer needs but isn't willing to spend much time shopping for are convenience products.

Product means the need-satisfying offering of a firm.

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:

Which of the following is NOT a business raw material?

Regarding consumer product classes, a convenience product is to an emergency product as

Regarding accessory equipment, which of the following is NOT true?

Regarding supplies,

The Federal Fair Packaging and Labeling Act:

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

Manufacturer brands are also called ___________.

Goods are typically mass-produced in a factory far away from customers, while services are produced in their presence.

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