Deck 10: Developing New Products and Services

Question 1

A good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is referred to as __________.

A)a widget
B)a product
C)a service
D)an idea
E)merchandise

Answer 1

B

Question 2

Which of the following statements regarding goods is most accurate?

A)In order to be classified as a good,an item must appeal to all five senses.
B)Music is not considered a good because it only involves a single sense-hearing.
C)Some goods also have intangible attributes.
D)To market a good that contains visual attributes,you cannot use an auditory medium.
E)The aroma of chocolate chip cookies is considered an idea because it affects one's senses.

Answer 2

C

Question 3

The division of products into durable and nondurable goods is to __________.

A)comply with NAICS guidelines
B)address environmental concerns
C)comply with ISO 9000 requirements
D)classify products for tax purposes
E)provide direction for marketing actions

Answer 3

E

Question 4

For the past several years,Fortune rated this company as the world's most admired company and Bloomberg Businessweek perennially rates it as the most innovative company in the world.This firm is

A)IBM
B)Microsoft
C)3M
D)Kodak
E)Apple

Question 5

A product is a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange

A)only for legal tender (money).
B)for providing value.
C)only for barter.
D)for a person's time and effort.
E)for money or something else of value.

Question 6

A product refers to

A)a tangible good received in exchange for a person's time and effort.
B)intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
C)a good that has in some way been altered,combined,or improved and sold to organizational buyers.
D)is a thought that leads to an action such as a concept for a new invention.
E)a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value.

Question 7

Items consumed in one or a few uses,such as food and fuel,are referred to as __________.

A)services
B)perishable goods
C)durable goods
D)nondurable goods
E)disposable goods

Question 8

A product that has tangible attributes that a consumer's five senses can perceive is referred to as a(n)

A)good.
B)service.
C)product concept.
D)new idea.
E)artifact.

Question 9

Goods can be divided into __________ goods and __________ goods.

A)functional;aesthetic
B)required;desired
C)tactile;conceptual
D)durable;nondurable
E)product;service

Question 10

In marketing,__________ generally includes not only physical goods,but also services and ideas as well.

A)marketing
B)an invention
C)merchandise
D)a product
E)a concept

Question 11

A product is a good,service,or idea consisting of a(n)__________ that satisfy consumers' needs and is received in exchange for money or something else of value.

A)promise or commitment exchanged between a seller and a buyer
B)bundle of tangible and intangible attributes
C)assortment of value-possessing activities
D)array of physical attributes
E)collection of tangible qualities

Question 12

The late Steve Jobs oversaw or invented innovations that revolutionized six industries.Which industry below is NOT one of them?

A)music
B)smartphones
C)personal computers
D)cable television
E)tablet devices

Question 13

A __________ is the marketing term for a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value.

A)idea
B)service
C)widget
D)utility bundle
E)product

Question 14

Among consumer products,advertising and wide distribution are especially important for

A)durable goods.
B)specialty products.
C)nondurable goods.
D)production goods.
E)semidurable goods.

Question 15

A good has tangible attributes that a consumer's __________ can perceive.

A)cognitive intelligence
B)knowledge of past experiences
C)five senses
D)sixth sense
E)emotional intelligence

Question 16

The Apple II,Macintosh,iPod,iPhone,MacBook Air,iPad,and MacPro are all examples of Apple's commitment to __________.

A)sustainable procurement
B)social responsibility
C)new product development
D)using renewable resources
E)respecting its workforce

Question 17

A __________ is defined as an item consumed in one or a few uses.

A)durable good
B)convenience good
C)specialty good
D)shopping good
E)nondurable good

Question 18

Which of the following statements regarding "goods" is most accurate?

A)Nondurable goods would rely more on advertising than durable goods.
B)Durable goods would benefit more on advertising than nondurable goods.
C)There is little if any difference between marketing actions between durable and nondurable goods.
D)Nondurable goods would rely more on personal selling than durable goods.
E)The durable and nondurable classification applies to services as well as to products.

Question 19

A nondurable good is defined as a(n)

A)item consumed in one or a few uses.
B)item that usually lasts over an extended number of uses.
C)item that lasts at least one year without becoming obsolete.
D)product purchased only for the use of ultimate consumers.
E)product used in the production of other products.

Question 20

The Apple innovation that stores all your digital content and then pushes it to where it can then be sent to your other digital devices is referred to as

A)iPod
B)iCloud
C)iPad
D)iPhone
E)MacBook Air

Question 21

Services refer to

A)ideas that consist of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value.
B)intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
C)philanthropic activities performed in without expectations of monetary remuneration.
D)any intangible activity that provides a benefit to a consumer that he or she could not have obtained or performed on his or her own.
E)any tangible activity that provides a benefit to a consumer that he or she could not have obtained or performed on his or her own.

Question 22

Services are

A)the tangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
B)the activities provided to complement a tangible good,such as technical support for a computer.
C)the intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
D)any activity required for the production of a good that cannot be completed "in-house" and must be outsourced to another firm.
E)the human (nonmechanical)component that is part of the manufacturing process.

Question 23

Which of the following is the BEST example of a nondurable good?

A)automobile
B)e-reader
C)baseball
D)gasoline
E)shoes

Question 24

Which of the following is considered a durable good?

A)silverware
B)caviar
C)marketing research
D)chewing gum
E)voting

Question 25

Cars and appliances are classified as

A)reusable goods.
B)nondisposable goods.
C)imperishable goods.
D)reliable products.
E)durable goods.

Question 26

Which of the following is considered a service?

A)lamp
B)motorcycle
C)potato chips
D)a marketing class
E)environmentalism

Question 27

Which of the following is the BEST example of a nondurable good?

A)laundry detergent
B)shoes
C)insurance
D)iPod
E)laser surgery

Question 28

Products that usually last over many uses,such as cars and appliances,are referred to as

A)endurable goods.
B)nondisposable goods.
C)imperishable goods.
D)reliable products.
E)durable goods.

Question 29

A durable good is defined as a(n)

A)item consumed in one or a few uses.
B)item that usually lasts over an extended number of uses.
C)item that lasts at least one year without becoming obsolete.
D)product purchased only for the use of ultimate consumers.
E)product used in the production of other products.

Question 30

Intangible items such as airline trips,financial advice,or telephone calls that an organization provides to consumers are referred to as

A)production goods.
B)support products.
C)services.
D)goods.
E)benefits.

Question 31

In marketing,a(n)__________ is a thought that leads to a product or action.

A)observation
B)inspiration
C)innovation
D)idea
E)perception

Question 32

Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as __________.

A)services
B)goods
C)products
D)marketing mix
E)ideas

Question 33

Which of the following statements about services is most accurate?

A)Although a major contributor to the GDP nationally,services play only a minor role in GDP on a global scale.
B)Whether tangible or not,the marketing of services is exactly the same as the marketing of products or ideas since they both satisfy customer needs.
C)Almost 65% of all jobs created in the United States are in the services sector.
D)In the U.S. ,almost 50% of the GDP comes from services.
E)There is much more in common with the marketing of services and business products than there is between the marketing of services and consumer products.

Question 34

In marketing,an idea is

A)a thought that leads to a product or action.
B)an inspiration that evolved from market research.
C)an observation about a series of events.
D)a concept explaining the behavior of an individual or group.
E)an observation about an individual or group and how they use a service or product.

Question 35

Advertising is most important for which of the following products?

A)bicycle
B)toaster
C)orange juice
D)deck furniture
E)watch

Question 36

Services are a significant part of the U.S.economy,reaching almost __________ percent of its gross domestic product.

A)20
B)25
C)30
D)40
E)50

Question 37

Which of the following is considered an idea?

A)haircut
B)birdfeeder
C)chewing gum
D)marketing class
E)security

Question 38

Advertising is important for products such as Butterfinger candy bars and Dasani bottled water that are purchased frequently and at relatively low cost.Also,wide distribution in retail outlets is essential.Why?

A)They are highly sought after goods that one purchases from wholesalers.
B)They are unsought products,so advertising promotes consumers' impulse purchases.
C)They are nondurable goods and easily substitutable,so consumers need to be reminded of their existence.
D)They are shopping products and can easily go out of stock.
E)They are semidurable goods,so advertising helps to maintain steady demand.

Question 39

Which of the following is considered a service?

A)online banking
B)silverware
C)washing machine
D)chewing gum
E)freedom

Question 40

Durable goods emphasize which of the following elements of the promotional mix?

A)sales promotion
B)personal selling
C)advertising
D)public relations
E)direct marketing

Question 41

Consumer product classifications differ in terms of the: (1)effort the consumer spends on the decision; (2)frequency of purchase;and (3)

A)amount of money the customer is willing and able to spend.
B)number of competing or substitute products.
C)demographics of the consumer.
D)attributes used in making the purchase decision.
E)consumer segmentation characteristics.

Question 42

The type of good for which the consumer compares several alternatives on such criteria as price,quality,and style is a(n)

A)shopping product.
B)convenience product.
C)specialty product.
D)unsought product.
E)B2B product.

Question 43

Industrial products are also referred to as __________ products.

A)consumer
B)merchandise
C)organizational
D)resale
E)business

Question 44

Shopping products refer to items that the consumer

A)purchases frequently,conveniently,and with a minimum of effort.
B)compares several alternatives on criteria such as price,quality,or style.
C)makes a special effort to search out and buy.
D)does not know about or knows about but does not initially buy.
E)buys as a result of buying others' consumer products,such as impulse purchases.

Question 45

With respect to distribution,convenience products are available

A)at relatively few outlets.
B)at a large number of specialty outlets.
C)only online from the manufacturer.
D)only at convenience stores.
E)on a widespread basis at many outlets.

Question 46

Which type of consumer product is purchased relatively infrequently and takes some time to make the purchase decision because the consumer needs time to compare offerings during the shopping experience?

A)convenience product
B)shopping product
C)specialty product
D)unsought product
E)discretionary product

Question 47

Items for which the consumer compares several alternatives on several criteria such as price,quality,or style are referred to as __________.

A)specialty products
B)selective products
C)shopping products
D)prestige products
E)convenience products

Question 48

Products that are purchased by the ultimate consumer are referred to as __________.

A)generic products
B)end user goods
C)personal items
D)merchandise
E)consumer products

Question 49

Business products are also referred to as __________.

A)B2B products
B)B2C products
C)B4B products
D)BOB products
E)B4C products

Question 50

In terms of brand loyalty,consumers are aware of a brand but will readily accept substitutes for which type of product?

A)convenience products
B)specialty products
C)unsought products
D)shopping products
E)supplies

Question 51

Consumer products refer to

A)products used in the production of other items.
B)products purchased by the ultimate consumer.
C)products an industrial buyer will make an effort to seek out and buy.
D)items purchased frequently and with a minimum of shopping effort.
E)products that assist directly or indirectly in providing products for resale.

Question 52

Which of the following would most likely be considered a consumer product?

A)bricks
B)cotton fiber
C)printing press
D)suitcases
E)mainframe computer

Question 53

Business products refer to

A)products organizations buy that assist in providing other products for resale.
B)supplies necessary for the day-to-day operations of a business.
C)ancillary services necessary for the operation of a business.
D)products that are sold exclusively to for-profit businesses.
E)products purchased by the ultimate consumer.

Question 54

Business products are also referred to as __________.

A)commodities
B)industrial products
C)wares
D)resale products
E)merchandise

Question 55

Products organizations buy that assist in providing other products for resale are referred to as __________.

A)reseller goods
B)wholesale goods
C)business products
D)ancillary products
E)retail products

Question 56

An iMac personal computer from Apple can be classified according to all of the following categories EXCEPT:

A)a business product.
B)a nondurable good.
C)a B2B product.
D)a durable good.
E)a consumer product.

Question 57

Convenience products refer to

A)items that consumers will make special efforts to seek out and buy.
B)items for which consumers compare several alternatives on criteria such as price,quality,or style.
C)products consumers purchase frequently and with a minimum of shopping effort.
D)ancillary products used to make other products work more efficiently.
E)low-cost items for which there are numerous substitutes and generic equivalents.

Question 58

In terms of promotion,which of the following type of product would stress price,availability,and awareness?

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

Question 59

In terms of price,which of the following type of consumer product would most likely be relatively inexpensive?

A)shopping product
B)convenience product
C)specialty product
D)unsought product
E)supplies

Question 60

Which of the following is the BEST example of a convenience product?

A)Kindle Fire
B)Lexus LS 460 luxury automobile
C)flight on United Airlines
D)Roget's Thesaurus
E)Crest toothpaste

Question 61

In terms of brand loyalty,consumers are very brand loyal and will not accept substitutes for which type of consumer product?

A)shopping product
B)convenience product
C)specialty product
D)unsought product
E)discretionary product

Question 62

Fifty percent or more of American adults have not had their teeth checked by a dentist within the last five years.For these people,dental services would MOST LIKELY be classified as a(n)

A)shopping product.
B)convenience product.
C)specialty product.
D)unsought product.
E)business product.

Question 63

In terms of promotion,which of the following type of consumer product stresses status and brand uniqueness?

A)specialty product
B)convenience product
C)shopping product
D)unsought product
E)discretionary product

Question 64

Which of the following is MOST LIKELY to be an example of an unsought product?

A)snow shovel
B)smartphone
C)gym membership
D)calculator
E)burial insurance

Question 65

Specialty products refer to

A)products for which there are no close substitutes.
B)products purchased for their prestige or high perceived value.
C)products a consumer will make a specific effort to search out and buy.
D)items for which the consumer compares several alternatives on several criteria such as price,quality,or style.
E)items that the consumer does not know about or knows about but does not initially buy.

Question 66

With respect to price,which of the following type of consumer product would most likely be very expensive?

A)convenience product
B)shopping product
C)discretionary product
D)specialty product
E)unsought product

Question 67

Unsought products are

A)any products associated with impulse buys at the supermarket checkout counter.
B)products that were once very popular but that have become obsolete because they are in the decline stage of their product life cycle.
C)items within a company's product line that do not perform as well as others in the line.
D)products that the consumer does not know about or knows about but does not initially want.
E)products that people choose to ignore because they find them offensive from a moral or ethical perspective.

Question 68

In terms of brand loyalty,consumers prefer specific brands but will accept substitutes for which type of consumer product?

A)shopping product
B)convenience product
C)specialty product
D)unsought product
E)discretionary product

Question 69

Which of the following is MOST LIKELY to be an example of an unsought product?

A)iPod MP3 player
B)Lexus LS 460 luxury automobile
C)flight on American Airlines to Phoenix
D)Roget's Thesaurus
E)Ivory soap

Question 70

You decide to buy a new car.You talk to friends about it,research mechanical specifications in Consumer Reports,test drive different makes and models,and compare prices at several dealerships.Into which classification of consumer products would your new car purchase fall?

A)specialty product
B)unsought product
C)discretionary product
D)shopping product
E)convenience product

Question 71

Distribution is very limited with which of the following type of consumer product?

A)shopping product
B)convenience product
C)discretionary product
D)prepurchase product
E)specialty product

Question 72

Very infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer product (such as burial insurance)that a prospective buyer may not initially want.This type of consumer service is referred to as a(n)

A)unsought product/service.
B)shopping product/service.
C)convenience product/service.
D)specialty product/service.
E)support product/service.

Question 73

Which type of consumer product is purchased infrequently and takes an extensive amount of time to make the purchase decision?

A)convenience product
B)shopping product
C)specialty product
D)unsought product
E)discretionary product

Question 74

With respect to price and availability,shopping products are likely to be

A)relatively inexpensive and widely available.
B)relatively inexpensive but very limited availability.
C)very expensive and available at a large number of selective outlets.
D)very expensive with very limited availability.
E)fairly expensive and available at a large number of selective outlets.

Question 75

With respect to distribution,shopping products are available

A)by special order from the manufacturer.
B)at an extremely small number of outlets.
C)at relatively few outlets.
D)at a large number of selective outlets.
E)on a widespread basis at many outlets.

Question 76

Leona hates carrying a camera with her on vacations.If she only knew of the existence of the Canon pocket digital camera that easily fits in any pocket! For Leona,the Canon camera is a(n)

A)shopping product.
B)convenience product.
C)specialty product.
D)unsought product.
E)discretionary product.

Question 77

You greatly admire a set of Waterford crystal serving bowls you see at a dinner party and decide to buy two despite their cost of $250 each.They are only available in your area in a Waterford shop 40 miles from campus.Into which classification of consumer products would the Waterford crystal serving bowls fall?

A)convenience products
B)shopping products
C)unsought products
D)specialty products
E)discretionary products

Question 78

With respect to promotion,which of the following strategies would most likely be used for unsought products?

A)offering consumer and trade sales promotions
B)establishing the uniqueness and status of the brand
C)generating awareness
D)differentiating the brand from competitive brands
E)stressing price and availability in advertising

Question 79

In terms of promotion,which of the following type of consumer product stresses product differentiation from competitors?

A)shopping product
B)convenience product
C)specialty product
D)unsought product
E)discretionary product

Question 80

Burberry makes fine raincoats,clothing,and other items,some that feature the company's distinctive plaids.Originally found only in Great Britain,Burberry has opened a limited number of exclusive shops in leading cities around the world to reach customers who value its name and quality.Burberry is selling which classification of consumer product?

A)convenience product
B)shopping product
C)discretionary product
D)unsought product
E)specialty product