Deck 13: Introduction to Marketing

Question 1

Delilah buys many of her groceries at the local convenience store because she believes in supporting local businesses. What type of purchase is this?

A) wholesale
B) B2B
C) retail
D) specialty
E) B2C

Answer 1

B2C

Question 2

Varana prefers to do her clothes shopping on the Internet so she can compare brands and prices. What class of products does Varana shop for in this way?

A) convenience
B) specialty
C) retail
D) shopping
E) unsought

Answer 2

shopping

Question 3

When Bonita turned 21, her husband wanted to buy her a piece of jewelry. He went to a jewelry designer to get her something one of a kind. In this case, jewelry is a(n) ________ product.

A) convenience
B) specialty
C) retail
D) shopping
E) unsought

Answer 3

specialty

Question 4

When Thian turned 65, he decided he should purchase long-term care insurance because he didn't want his kids to have to take care of him. This is a(n) ________ product.

A) convenience
B) specialty
C) retail
D) shopping
E) unsought

Question 5

The ________ market consists of industrial goods, or business goods products used to produce other products.

A) wholesale
B) B2B
C) retail
D) specialty
E) B2C

Question 6

Industrial glue and food preservatives are business products that are classified as

A) installations.
B) capital items.
C) accessory equipment.
D) component parts.
E) process materials.

Question 7

Sean is a broker that sells lumber to businesses. Which classification of business products is lumber?

A) raw materials
B) capital items
C) accessory equipment
D) component parts
E) supplies

Question 8

________ are the large, long-lasting pieces of equipment a business purchases, like a commercial oven in a restaurant.

A) Raw materials
B) Capital items
C) Accessory equipment
D) Component parts
E) Supplies

Question 9

Innovation is important because of ________-when a product is no longer viable because consumers' needs change or a competitor has a better product.

A) failure of a new product
B) long development time
C) discontinuous development
D) product obsolescence
E) dynamic innovation

Question 10

One of the three levels of innovation is

A) improvement innovation.
B) continuous innovation.
C) innovation maturity.
D) radical innovation.
E) innovation decline.

Question 11

During which stage of the product life cycle do managers concentrate on building inventory without loss of quality?

A) introduction
B) growth
C) maintenance
D) maturity
E) decline

Question 12

During which stage of the product life cycle are there start-up costs for production, marketing, and distribution?

A) pre-production
B) introduction
C) decline
D) maturity
E) growth

Question 13

Sales are usually low and there is risk the product will be rejected in the ________ stage of the product life cycle.

A) pre-production
B) introduction
C) maintenance
D) maturity
E) growth

Question 14

In the ________ stage of the product life cycle, managers work to get enough product into the distribution pipeline, maintain quality, and expand sales and distribution.

A) introduction
B) decline
C) maintenance
D) maturity
E) growth

Question 15

Bao was worried when his product's sales began to fall off, so he instructed his creative team to try to improve on its features and hopefully extend the product's life. This likely occurred during the ________ stage of the product life cycle.

A) introduction
B) decline
C) maturity
D) growth
E) maintenance

Question 16

When Bao determined that his product's falling sales were becoming a problem, he instructed management to reduce costs and increase efficiency to maintain the product's profitability. The product was most likely in the ________ stage of the product life cycle.

A) downhill
B) decline
C) decay
D) maturity
E) maintenance

Question 17

During the ________ step of the product development process, companies may develop new products internally by listening to employees or through research-and-development departments.

A) idea generation
B) product screening
C) product analysis
D) new product development
E) test marketing

Question 18

________ involves attracting consumers by creating products that stand out as different from competitors.

A) Creative production
B) Product analysis
C) Commercialization
D) Product differentiation
E) Product labeling

Question 19

Horace invented a product that kept runners cool by inserting refrigerated pouches into their clothes. He named it Cool Runs. He wanted to get legal protection for the name, so he applied for a

A) trademark.
B) copyright.
C) registered label.
D) brand mark.
E) legal injunction.

Question 20

Kellogg's branded cereal, bars, and drinks fall into which category of branded products?

A) manufacturer's
B) private label
C) family
D) individual
E) edible

Question 21

Individual branded products are

A) an individual company who creates a product or services and brands the product or service using the company name.
B) a product that is sourced from a manufacturer then sold under another brand name.
C) separate products that have differing names but tied to the larger brand.
D) products that have their own brands but may fall under a larger company
E) products that bear no relation to other products from the company.

Question 22

Brand ________ is the value a company gets from the factors people associate with a particular brand name, such as emotions.

A) value
B) equity
C) loyalty
D) worth
E) preference

Question 23

No matter how often her friends try to convince her otherwise, Caitie will only use Apple products. Caitie demonstrates strong brand

A) value.
B) equity.
C) preference.
D) awareness.
E) insistence.

Question 24

Tonja has never even ridden a motorcycle, but she recognizes the name Harley Davidson. Tonja demonstrates brand

A) value.
B) equity.
C) preference.
D) awareness.
E) insistence.

Question 25

Which function of packaging is important when you drop your new phone in a mud puddle?

A) promote the product as being different from competitors
B) provide product information
C) help consumers use the product
D) protect the product
E) indicate price and UPC

Question 26

The FDA has guidelines about what needs to be included on food labels. Which function of packaging is addressed with the nutritional labeling on food packages?

A) promote the product as being different from competitors
B) provide product information
C) help consumers use the product
D) protect the product
E) indicate price and UPC

Question 27

Alcides is considering the purchase of a new pickup truck. He is leaning toward buying a Ford as he appreciates Ford's warranty and service package. Ford's advertising also resonates with Alcides and he trusts the Ford name. All these features are best described as part of Ford's

A) product cycle.
B) value package.
C) B2B service.
D) brand mark.
E) consumer market.

Question 28

Yoshie runs to the gas station to get gasoline for his lawnmower. Yoshie is best described as being part of the ________ market.

A) consumer
B) B2C
C) business
D) shopping
E) supply

Question 29

Tumelo has a headache and walks down the street a few blocks to pick up some aspirin from the local drugstore. The aspirin would most likely fall under which class of consumer goods and services?

A) unsought
B) component
C) specialty
D) convenience
E) shopping

Question 30

Mirka is perusing Amazon.com as she evaluates which laptop to purchase for her daughter. The computer would most likely fall under which class of consumer goods and services?

A) capital
B) shopping
C) innovation
D) specialty
E) convenience

Question 31

Muirgel's elderly father fell last week and fractured his hip. Muirgel is unable to provide care herself, so she hires an in-home nurse to assist her father. The nurse would most likely fall under which class of consumer goods and services?

A) maturity
B) specialty
C) unsought
D) convenience
E) value

Question 32

Sampson collects rare comic books. He often travels around the United States visiting comic book stores that specialize in vintage comics. The comic books that Sampson purchases can best be categorized under which class of consumer goods and services?

A) discontinuous
B) insistence
C) shopping
D) capital
E) specialty

Question 33

Cvijeta runs an automotive parts store that sells things like tires, brake parts, and batteries to automotive service centers across the country. The items are then used to repair vehicles for customers. These products can best be described as a form of ________, a type of ________ goods.

A) raw materials; unsought
B) process materials; specialty
C) discontinuous equipment; consumer
D) supplies; convenience
E) component parts; industrial

Question 34

Tribiotic Medical Supply sells medical equipment to pharmacies and hospitals across the country. Tribiotic is most likely selling through the _________ market.

A) B2C
B) industrial
C) B2B
D) specialty
E) consumer

Question 35

Dynate Logistics has contracted with a construction firm to build a new depot for its fleet of trucks. The new depot best represents an example of which business product class?

A) capital items
B) business services
C) accessory equipment
D) installations
E) component parts

Question 36

Lightspeed Visuals has created a new touchscreen that responds 10 percent more quickly than other phones and tablets on the marketplace. Which type of innovation does this best represent?

A) continuous
B) growth
C) dynamically continuous
D) discontinuous
E) idea commercialization

Question 37

In the past year, a growing number of new plant-based burgers have become available in the market. These burgers have the same taste, texture, and consistency as regular hamburger meat. This best represents which type of innovation?

A) continuous
B) introductory
C) discontinuous
D) dynamically continuous
E) commercials

Question 38

Blu-ray DVD players hit the market in 2002. Due to their enhanced picture quality, they have slowly replaced standard DVD players in most stores. The standard DVD players best represent an example of

A) discontinuous innovation.
B) controlled obsolescence.
C) declining innovation.
D) product obsolescence.
E) product screening.

Question 39

Chark United sells a tracker that allows parents to track their children through a lightweight, metal bracelet. Sales are very low, and parents are avoiding the product due to concerns about cost and the fact that the bracelets seem to break easily. The bracelets are most likely in which stage of the product life cycle?

A) maturity
B) introduction
C) growth
D) innovation
E) decline

Question 40

Laptop computer sales have started to level off over the past few years due to stiff competition in the form of tablets and other mobile devices. Manufacturers like Dell have been focused on reducing costs and improving production processes for their laptops in order to maintain profitability. Laptop computers are most likely in which stage of the product life cycle?

A) decline
B) discontinuous
C) knockoff
D) maturity
E) equity

Question 41

Which example best represents a product in the growth stage of the product life cycle?

A) mobile phones
B) video streaming players
C) autonomous vehicles
D) home video recorders
E) typewriters

Question 42

Nazli works in accounting for PerTec Security Solutions. She is currently conducting a cost analysis on the company's new internal mailbox camera to determine profit potential. PerTec's camera is most likely in which stage of the product development process?

A) product screening
B) sales generation
C) commercial introduction
D) product development
E) product analysis

Question 43

Gerbold works on the IT team at Cross 360 Fitness. He submits a summary of a payment processing solution he thinks the company should develop for its customers. At the end of the quarter, the senior leadership team reviews submissions like Gerbold's and determines which ones to pursue. This example best describes the ________ stage of the product development process.

A) product development
B) idea generation
C) prototype analysis
D) product screening
E) continuous innovation

Question 44

Long Life Lithium Batteries has begun producing and marketing its new "never-die" battery. Long Life Lithium Batteries is most likely in the ________ stage of the product development process.

A) product screening
B) commercialization
C) test marketing
D) growth
E) product analysis

Question 45

Braylon Garcia owns Maxim Computers. He recently reviewed a concept processor that is smaller than a penny, but that exceeds the fastest processor speeds currently on the market. He ended up making the decision to cancel the product after hearing that it would take more than one year to fully execute the product before getting it into the market. During which stage of the product development process did this decision most likely occur?

A) product analysis
B) test marketing
C) product screening
D) idea generation
E) product development

Question 46

Suter Enterprises has determined that a new concept product has strong potential for profitability. How should the company proceed from here?

A) Conduct a formal product analysis.
B) Create a product prototype.
C) Determine the potential market for the product.
D) Complete a product screening.
E) Begin full-scale production.

Question 47

Ludvik Automotive Parts has engaged a marketing team to help with a new branding initiative for its products. It wants to ensure that consumers can quickly recognize Ludvik parts over those of its competitors. This best describes an example of

A) private labeling.
B) trademarking.
C) product differentiation.
D) commercialization.
E) co-branding.

Question 48

Carola Storage wants to protect the name of the company along with the logo and catch phrase. How should Carola Storage proceed?

A) Implement a universal product code.
B) Apply for a trademark.
C) Complete a co-branding agreement.
D) Request a brand mark.
E) Research potential knockoffs.

Question 49

Challenstar Test & Training Centers has entered into a relationship with McGregor Textbooks to create a series of textbooks under the Challenstar name. This partnership can best be described as an example of

A) brand partnership.
B) co-labeling.
C) brand equity.
D) family branding.
E) co-branding.

Question 50

Ballyhoo Media creates phone, radio, and television advertising for other companies around the country. What brand type does this best represent?

A) manufacturer
B) co-brand
C) private label
D) individual
E) growth

Question 51

Powerade is owned by Coca-Cola but markets a variety of flavors of its popular energy drink under its own name. Powerade is best described as a(n) ________ brand.

A) individual
B) manufacturer
C) knockoff
D) private label
E) family

Question 52

Amazon purchases technology solutions like computer cables and peripherals and sells them under its AmazonBasics name. AmazonBasics can best be described as a(n) ________ brand.

A) family
B) individual
C) private label
D) dynamic
E) manufacturer

Question 53

State Farm Insurance offers life insurance, car insurance, homeowner's insurance, and more. It promotes its agencies as a one-stop shop to purchase all these services. State Farm's suite of insurance services can best be described as which brand type?

A) private label
B) equity
C) family
D) umbrella
E) individual

Question 54

Maja was recently hired by Polyxena Applications. She will be responsible for helping to create unique identities for each of Polyxena's applications. Maja is most likely a

A) B2C analyst.
B) brand manager.
C) market researcher.
D) product awareness administrator.
E) co-branding specialist.

Question 55

Yelyzaveta is planning to open a new home repair company. Before she starts advertising, she sits down to brainstorm a unique name for the company. This name can best be described as part of the company's

A) mark.
B) UPC.
C) package.
D) brand.
E) label.

Question 56

'49 Brand makes very popular sporting goods apparel. Viktor is walking down the street in his hometown and sees a vendor selling caps with the '49 Brand logo at nearly 75 percent off the regular price. Upon careful inspection, Viktor notices that the caps appear to be of much lower quality than he is used to seeing from '49 Brand. The vendor is most likely offering ________ products.

A) private label
B) knockoff
C) co-branded
D) unsought
E) independent label

Question 57

Nishat does not drive, but is very familiar with Ford, Chevrolet, and General Motors thanks to different advertisements she has seen for each company. This example best represents which degree of brand loyalty?

A) dynamic
B) awareness
C) individual
D) insistence
E) preference

Question 58

Plateau Outerwear manufactures coats, hats, and gloves for its customers. Plateau has conducted research and knows that a large portion of its sales can be attributed to the positive feelings customers have towards the company's stance on environmentally friendly production processes. This example best describes the concept of brand

A) loyalty.
B) insistence.
C) awareness.
D) equity.
E) preference.

Question 59

BATT Energy Solutions sells batteries and battery chargers to consumers. Its products are wrapped in a prismatic paper that reflects differently depending on how the light hits it. This paper can best be described as

A) packaging.
B) co-branding.
C) trademarking.
D) private labeling.
E) brand marking.

Question 60

Trystale Electronics sells a variety of different products that each include a universal product code. Which function of packaging does this best represent?

A) helps consumers use the product
B) provides product information
C) indicates price
D) promotes the product as different from competitors
E) protection for the product

Question 61

Magliano's Furniture Solutions includes assembly instructions with pictures on the back of the packaging for each product it sells. Which function of packaging does this best represent?

A) protection for the consumer
B) assist consumers with using the product
C) promoting brand awareness
D) providing product information
E) innovative branding for the product

Question 62

Eggs are typically sold in a carton where each egg is in a separate compartment. This is most likely done to ________ the eggs.

A) make it easier for consumer to use
B) help promote the specific farm selling
C) easily share information about
D) avoid potential damage to
E) build product differentiation for

Question 63

U.S. Toys uses unique packaging, flashy colors, and fun slogans on each of the toys it produces. Why would the company do this?

A) to readily share product information
B) to highlight the family brand
C) to protect its toys from knockoffs
D) to help indicate a general price range for its products
E) to promote its product as different from the competition

Question 64

Video game manufacturers include recommended age specifications on the packaging for games. Which function of packaging does this information best address?

A) protection for the product manufacturer
B) promoting brand equity
C) provides product information
D) helps ensure brand awareness
E) promotes differences in competitor products

Question 65

Define each of the classes of consumer goods and services. Provide an example for each one.

Question 66

Define the business-to-business market. List three business product classifications and provide examples of each.

Question 67

Think of a product and describe its movement through each of the six steps in the product development process.

Question 68

Describe the three degrees of brand loyalty. Provide an example of each one.

Question 69

When people use a brand regularly, they are demonstrating brand equity.

Question 70

The primary purpose of a UPC code on packaging is to be read by bar code scanners.