Question 1

Services, as opposed to physical products:

Accepted Answer

A)  May be stored for later use. 
B)  Are usually sold first, and then produced. 
C)  Are usually produced and consumed in different time frames. 
D)  Never require the presence of the consumer in order to be performed. 
E)  None of these alternatives is correct. 
A)  May be stored for later use. 
B)  Are usually sold first, and then produced. 
C)  Are usually produced and consumed in different time frames. 
D)  Never require the presence of the consumer in order to be performed. 
E)  None of these alternatives is correct.

Question 2

According to the text, product quality means that:

Accepted Answer

A)  products are designed to meet demanding specifications. 
B)  a product satisfies a customer's requirements or needs. 
C)  there are no errors in the production process. 
D)  the product won't ever break. 
E)  None of these choices is correct. 
A)  products are designed to meet demanding specifications. 
B)  a product satisfies a customer's requirements or needs. 
C)  there are no errors in the production process. 
D)  the product won't ever break. 
E)  None of these choices is correct.

Question 3

Food Lion (a large supermarket chain that emphasizes "low prices") sells a dealer brand of frozen green beans. Here,

Accepted Answer

A)  the producer of the green beans probably does a lot of advertising. 
B)  a trademark cannot be used. 
C)  a similar manufacturer brand is likely to be given less shelf space. 
D)  the price to the consumer will probably be higher than for competing manufacturer brands. 
E)  None of these alternatives is correct. 
A)  the producer of the green beans probably does a lot of advertising. 
B)  a trademark cannot be used. 
C)  a similar manufacturer brand is likely to be given less shelf space. 
D)  the price to the consumer will probably be higher than for competing manufacturer brands. 
E)  None of these alternatives is correct.

Question 4

Supplies (business products) are expense items that do not become part of a final product.

Accepted Answer

A) True 
 B)False

Question 5

Regarding business products:

Accepted Answer

A)  The demand for consumer products is derived from the demand for business products. 
B)  Total industry demand is fairly elastic. 
C)  Demand facing individual sellers is always inelastic. 
D)  Tax treatments of business products have no importance to business customers. 
E)  The demand for business products is derived from the demand for consumer products. 
A)  The demand for consumer products is derived from the demand for business products. 
B)  Total industry demand is fairly elastic. 
C)  Demand facing individual sellers is always inelastic. 
D)  Tax treatments of business products have no importance to business customers. 
E)  The demand for business products is derived from the demand for consumer products.

Question 6

"Branding" includes the use of trademarks and brand names to identify a product.

Accepted Answer

A) True 
 B)False

Question 7

Consumer product classes are based on

Accepted Answer

A)  the level of derived demand. 
B)  how consumers think about products. 
C)  what types of business products were used to produce them. 
D)  how consumers will use the products. 
E)  how new and innovative the products are. 
A)  the level of derived demand. 
B)  how consumers think about products. 
C)  what types of business products were used to produce them. 
D)  how consumers will use the products. 
E)  how new and innovative the products are.

Question 8

There is no real reason for a firm to use individual brands rather than a family brand--except to avoid confusion.

Accepted Answer

A) True 
 B)False

Question 9

The ______ says that producers must provide a clearly written warranty if they choose to offer any warranty.

Accepted Answer

A)  Norris-LaGuardia Act 
B)  Lanham Act 
C)  Wagner Act 
D)  Magnuson-Moss Act 
E)  Food and Drug Act 
A)  Norris-LaGuardia Act 
B)  Lanham Act 
C)  Wagner Act 
D)  Magnuson-Moss Act 
E)  Food and Drug Act

Question 10

For a homogeneous shopping product, a marketing manager should

Accepted Answer

A)  provide enough exposure to facilitate price comparison. 
B)  understand that price sensitivity is likely to be low. 
C)  recognize that consumers see a lot of differences across alternatives. 
D)  realize that consumers usually pay little attention to price. 
E)  know that consumer purchases are typically unplanned and bought quickly. 
A)  provide enough exposure to facilitate price comparison. 
B)  understand that price sensitivity is likely to be low. 
C)  recognize that consumers see a lot of differences across alternatives. 
D)  realize that consumers usually pay little attention to price. 
E)  know that consumer purchases are typically unplanned and bought quickly.

Question 11

Which of the following is(are) TRUE?

Accepted Answer

A)  A "service mark" is to a service what a "trademark" is to a physical good. 
B)  "Trademark" refers to all means of product identification. 
C)  A "trademark" must be attached to a product to be legally protected. 
D)  "Trademarks" and "service marks" must be words. 
E)  None of these alternatives is TRUE. 
A)  A "service mark" is to a service what a "trademark" is to a physical good. 
B)  "Trademark" refers to all means of product identification. 
C)  A "trademark" must be attached to a product to be legally protected. 
D)  "Trademarks" and "service marks" must be words. 
E)  None of these alternatives is TRUE.

Question 12

Branding:

Accepted Answer

A)  is especially helpful with a low quality product. 
B)  is handled by manufacturers, but not intermediaries. 
C)  helps consumers, but it is bad for the firm because it increases expenses. 
D)  is more likely to be successful if demand for the general product class is strong enough to allow a profitable price. 
E)  None of these alternatives is correct. 
A)  is especially helpful with a low quality product. 
B)  is handled by manufacturers, but not intermediaries. 
C)  helps consumers, but it is bad for the firm because it increases expenses. 
D)  is more likely to be successful if demand for the general product class is strong enough to allow a profitable price. 
E)  None of these alternatives is correct.

Question 13

Which of the following is NOT a consumer product class?

Accepted Answer

A)  Specialty. 
B)  Unsought. 
C)  Derived. 
D)  Shopping. 
E)  Impulse. 
A)  Specialty. 
B)  Unsought. 
C)  Derived. 
D)  Shopping. 
E)  Impulse.

Question 14

A consumer product that a customer really wants--and is willing to make a special shopping effort to find--is

Accepted Answer

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

Question 15

Emergency products are purchased only when the need is great and urgent, and therefore price is usually not very important.

Accepted Answer

A) True 
 B)False

Question 16

The main difference between installations and accessory equipment is that accessories are capital items while installations are expense items.

Accepted Answer

A) True 
 B)False

Question 17

Use this information for question that refer to the Sunny Day Foods (SDF) Case. 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 18

Shopping products that a customer sees as different and wants to inspect for quality and suitability are heterogeneous shopping products.

Accepted Answer

A) True 
 B)False

Question 19

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 20

Which of the following is true?

Accepted Answer

A)  Manufacturer brands usually have national distribution while dealer brands are only distributed locally. 
B)  Dealer brands are always priced lower than manufacturer brands. 
C)  Dealer brands may be distributed as widely or more widely than many manufacturer brands. 
D)  Dealer brands are distributed only by chain-store retailers. 
E)  None of these alternatives is true. 
A)  Manufacturer brands usually have national distribution while dealer brands are only distributed locally. 
B)  Dealer brands are always priced lower than manufacturer brands. 
C)  Dealer brands may be distributed as widely or more widely than many manufacturer brands. 
D)  Dealer brands are distributed only by chain-store retailers. 
E)  None of these alternatives is true.

Services, as opposed to physical products:

According to the text, product quality means that:

Food Lion (a large supermarket chain that emphasizes "low prices") sells a dealer brand of frozen green beans. Here,

Supplies (business products) are expense items that do not become part of a final product.

Regarding business products:

"Branding" includes the use of trademarks and brand names to identify a product.

Consumer product classes are based on

There is no real reason for a firm to use individual brands rather than a family brand--except to avoid confusion.

The ______ says that producers must provide a clearly written warranty if they choose to offer any warranty.

For a homogeneous shopping product, a marketing manager should

Which of the following is(are) TRUE?

Branding:

Which of the following is NOT a consumer product class?

A consumer product that a customer really wants--and is willing to make a special shopping effort to find--is

Emergency products are purchased only when the need is great and urgent, and therefore price is usually not very important.

The main difference between installations and accessory equipment is that accessories are capital items while installations are expense items.

Shopping products that a customer sees as different and wants to inspect for quality and suitability are heterogeneous shopping products.

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:

Which of the following is true?

Marketing39s 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

Promotion - Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Economics Fundamentals

Marketing Arithmetic

Filters

Exam 8: Elements of Product Planning for Goods and Services

Services, as opposed to physical products:

According to the text, product quality means that:

Food Lion (a large supermarket chain that emphasizes "low prices") sells a dealer brand of frozen green beans. Here,

Supplies (business products) are expense items that do not become part of a final product.

Regarding business products:

"Branding" includes the use of trademarks and brand names to identify a product.

Consumer product classes are based on

There is no real reason for a firm to use individual brands rather than a family brand--except to avoid confusion.

The ______ says that producers must provide a clearly written warranty if they choose to offer any warranty.

For a homogeneous shopping product, a marketing manager should

Which of the following is(are) TRUE?

Branding:

Which of the following is NOT a consumer product class?

A consumer product that a customer really wants--and is willing to make a special shopping effort to find--is

Emergency products are purchased only when the need is great and urgent, and therefore price is usually not very important.

The main difference between installations and accessory equipment is that accessories are capital items while installations are expense items.

Shopping products that a customer sees as different and wants to inspect for quality and suitability are heterogeneous shopping products.

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:

Which of the following is true?

Marketing39s 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

Promotion - Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Economics Fundamentals

Marketing Arithmetic

Filters