Question 1

Inez believes that makeup is the most important part of her wardrobe.She spends considerable time comparing the prices,skin tones,and color options available at various cosmetics counters in department stores.For Inez,makeup is a convenience product.

Accepted Answer

A) True 
 B)False

Question 2

Heinz is a leading global food manufacturer.It manufactures and markets Farleys (baby food),Jack Daniel's sauces,and Weight Watcher's diet/slimming meals and supplements.The use of these brand names instead of the Heinz name is an example of a(n)_____ branding strategy.

Accepted Answer

A)  individual 
B)  synergistic 
C)  umbrella 
D)  family 
E)  piggyback

Question 3

RockTenn produces cardboard cartons to be used by companies in the food industry.RockTenn is selling _____ products.

Accepted Answer

A)  specialty 
B)  consumer 
C)  business 
D)  convenience 
E)  unsought

Question 4

You are the U.S.brand manager of the Fluffit family of products.The products include a wide variety of synthetic and natural stuffing materials for furniture cushions,sleeping bags,quilts,and winter coats.The brand is a favorite among home repair enthusiasts and hobbyists of various kinds.Your firm would like to enter several foreign markets.Name and describe the three major alternative brand name choices for this global strategy.Discuss the viability of each alternative for Fluffit.

Accepted Answer

The answer of You are the U.S.brand manager of the...

Question 5

Procter & Gamble makes Gain laundry detergent for people who like a strong scent and Dreft for those who want a gentle detergent for their baby's clothes.It is using a(n)_____ strategy.

Accepted Answer

A)  individual branding 
B)  family branding 
C)  combination branding 
D)  trademarked branding 
E)  private branding

Question 6

Compare and contrast an express warranty and an implied warranty.

Accepted Answer

The answer of Compare and contrast an express warranty and...

Question 7

Isaac Golding,owner of a tutoring service,has developed a design for his firm that includes an owl wearing large spectacles and carrying a satchel crammed full of books and papers.Golding plans to use this design on all communications the firm sends out.This design is called the firm's brand name.

Accepted Answer

A) True 
 B)False

Question 8

Name and briefly define the four categories of consumer products.For each category,list three specific examples of products that would most likely be classified in that category.

Accepted Answer

The answer of Name and briefly define the four categories...

Question 9

Choice Homes, Inc.
Choice Homes, Inc., based in Texas, built its reputation by building high-quality new homes, often at prices less than "used" ones. Choice Homes used mass purchasing power, innovative high-tech communications among employees to coordinate the building process, and other entrepreneurial strategies to hold costs down. Its homes are primarily targeted at first-time homeowners-to-be in an effort to get people out of apartments so they can experience the "American Dream" of home ownership for the same price as rent. Choice Homes later developed the "Choice Classic" brand name for higher-end homes targeted at wealthier dual-income couples. The Choice Classic name was designed to capitalize on the reputation of Choice Homes, especially for current Choice home owners who are ready to "move up" to a larger home. Recently, Choice Homes started a third line of homes called "Reflections," which are expensive, custom-designed homes located in exclusive, prestigious neighborhoods.
-Refer to Choice Homes,Inc.The three different brands of homes (Choice,Choice Classic,and Reflections)represent the firm's:

Accepted Answer

A)  line portfolio. 
B)  mix depth. 
C)  line breadth. 
D)  product line. 
E)  product itemization.

Question 10

Campbell's
Most people recognize Campbell's as a brand of soup, but Campbell's also manufactures Pace Picante Sauce, Pepperidge Farms products, Prego Sauce, Swanson Broth, and V8 juice. Campbell's International division offers more than 20 brands of soups, sauces, beverages, and baked snacks in the Asia Pacific region, Greater Europe and Latin America. Products such as Arnott's biscuits and crackers and Bià Band soups are well known overseas. Campbell's products are sold in more than 120 countries.
-Refer to Campbell's.Marco likes to pack a V8 juice in his lunch bag every day.Based on its intended use,Marco's V8 juice could best be classified as a _____ product.

Accepted Answer

A)  industrial 
B)  consumer 
C)  business 
D)  convenience 
E)  unsought

Question 11

At one point,Heinz made ketchup in multiple colors,including red,green,purple,pink,orange,and teal.While they were popular for a few years,consumers stopped buying the unusual colors and Heinz has dropped back to just making red ketchup.This is an example of the implementation of a _____ strategy.

Accepted Answer

A)  repositioning 
B)  cannibalization 
C)  product line extension 
D)  product line contraction 
E)  divestment

Question 12

Unsought products typically are products that:

Accepted Answer

A)  consumers purchase when they see them in a convenient location. 
B)  consumers definitely don't want. 
C)  only require reminder advertising to be successful. 
D)  require little or no decision making by the buyer. 
E)  consumers don't know about or don't actively look for.

Question 13

How would a marketer define the term product?

Accepted Answer

The answer of How would a marketer define the term...

Question 14

Firms increase the depth of their product lines for all of the following reasons EXCEPT:

Accepted Answer

A)  to attract buyers with different preferences. 
B)  to diversify risk. 
C)  to further segment the market. 
D)  to capitalize on economies of scale. 
E)  to even out seasonal sales patterns.

Question 15

The label on Darwin's new blazer that reads "Will Not Shrink" is an example of a(n)_____ warranty.

Accepted Answer

A)  descriptive 
B)  limited 
C)  implied 
D)  express 
E)  superfluous

Question 16

Well-known retailer Lands' End,offers a written satisfaction guarantee on all merchandise it sells.In other words,Lands' End gives its customers a(n)_____ warranty.

Accepted Answer

A)  implied 
B)  descriptive 
C)  limited 
D)  full 
E)  express

Question 17

_____ are products consumers see as being basically the same,so consumers shop for the lowest price.

Accepted Answer

A)  Low-prestige specialty products 
B)  Product equivalents 
C)  Heterogeneous shopping products 
D)  Generic convenience products 
E)  Homogeneous shopping products

Question 18

The best generator of repeat sales is satisfied customers.

Accepted Answer

A) True 
 B)False

Question 19

Along with its Macintosh computer line,Apple markets its iPod,iPhone,and AppleTV products.This is an abbreviated listing of the company's:

Accepted Answer

A)  customer mix. 
B)  product line. 
C)  product mix. 
D)  line depth. 
E)  product modification.

Question 20

Bang & Olufsen make some of the best sound systems in the world.After years of development,Bang & Olufsen recently released its new BeoLab 5 speakers.For audiophiles who demand the best in audio equipment,the $19,950 Bang & Olufsen BeoLab 5 speakers represent an example of a(n)_____ product.

Accepted Answer

A)  heterogeneous shopping 
B)  specialty 
C)  homogeneous shopping 
D)  convenience 
E)  exclusive

Exam 19: Product Concepts

Inez believes that makeup is the most important part of her wardrobe.She spends considerable time comparing the prices,skin tones,and color options available at various cosmetics counters in department stores.For Inez,makeup is a convenience product.

Heinz is a leading global food manufacturer.It manufactures and markets Farleys (baby food) ,Jack Daniel's sauces,and Weight Watcher's diet/slimming meals and supplements.The use of these brand names instead of the Heinz name is an example of a(n) _____ branding strategy.

RockTenn produces cardboard cartons to be used by companies in the food industry.RockTenn is selling _____ products.

Procter & Gamble makes Gain laundry detergent for people who like a strong scent and Dreft for those who want a gentle detergent for their baby's clothes.It is using a(n) _____ strategy.

Compare and contrast an express warranty and an implied warranty.

Isaac Golding,owner of a tutoring service,has developed a design for his firm that includes an owl wearing large spectacles and carrying a satchel crammed full of books and papers.Golding plans to use this design on all communications the firm sends out.This design is called the firm's brand name.

Name and briefly define the four categories of consumer products.For each category,list three specific examples of products that would most likely be classified in that category.

At one point,Heinz made ketchup in multiple colors,including red,green,purple,pink,orange,and teal.While they were popular for a few years,consumers stopped buying the unusual colors and Heinz has dropped back to just making red ketchup.This is an example of the implementation of a _____ strategy.

Unsought products typically are products that:

How would a marketer define the term product?

Firms increase the depth of their product lines for all of the following reasons EXCEPT:

The label on Darwin's new blazer that reads "Will Not Shrink" is an example of a(n) _____ warranty.

Well-known retailer Lands' End,offers a written satisfaction guarantee on all merchandise it sells.In other words,Lands' End gives its customers a(n) _____ warranty.

_____ are products consumers see as being basically the same,so consumers shop for the lowest price.

The best generator of repeat sales is satisfied customers.

Along with its Macintosh computer line,Apple markets its iPod,iPhone,and AppleTV products.This is an abbreviated listing of the company's:

Bang & Olufsen make some of the best sound systems in the world.After years of development,Bang & Olufsen recently released its new BeoLab 5 speakers.For audiophiles who demand the best in audio equipment,the $19,950 Bang & Olufsen BeoLab 5 speakers represent an example of a(n) _____ product.