Question 1

Penny has been hired by a manufacturing company to come up with a new remote control.Penny's first step would be

Accepted Answer

A)  prototype development. 
B)  test marketing. 
C)  screening. 
D)  business analysis. 
E)  new product ideas.

Question 2

This communications vehicle is highly segmented,allows for excellent visual communication,and is long-lived,but requires a long lead-time.

Accepted Answer

A)  Direct mail 
B)  Television 
C)  Magazines 
D)  Newspaper 
E)  Outdoor

Question 3

The combination of television,radio,magazines,etc.that a company uses to promote its products and services is called the promotional mix.

Accepted Answer

A) True 
 B)False

Question 4

Milk,newspapers,bread,and batteries are examples of ________ goods.

Accepted Answer

A)  specialty 
B)  shopping 
C)  convenience 
D)  coincidental 
E)  impulse

Question 5

Why would a business firm want to have controlling sales volume as a promotional objective?

Accepted Answer

A)  A company will aggressively push its products through wholesalers and retailers who persuade customers to buy it. 
B)  The production and distribution systems will run more smoothly when the firm achieves a more stable sales volume during the year. 
C)  The company is trying to appeal to a specific segment of the market. 
D)  Consumers are more likely to purchase a product when they have been informed about it. 
E)  The company wants to be able to communicate information to consumers when it is more economical to do so.

Question 6

The average cost of an industrial sales call has been estimated at nearly $300.00.

Accepted Answer

A) True 
 B)False

Question 7

When Lava soap advertises that it is a great product for dirty,grimy,manly hands,it is attempting to fulfill which promotional objective?

Accepted Answer

A)  Communicate information 
B)  Remind you about the product 
C)  Control sales volume 
D)  Eliminate competition 
E)  Product positioning

Question 8

Television is a popular form of advertising because it is a combination of sight,sound,and motion appeals to almost all a viewer's senses.

Accepted Answer

A) True 
 B)False

Question 9

Packaging costs can be as high as 15 percent of the total cost to make a product.

Accepted Answer

A) True 
 B)False

Question 10

Speed to market is very important to a firm's success.One study has estimated that a product that is six months late will sacrifice ________ percent of its lifetime profit potential.

Accepted Answer

A)  18 
B)  28 
C)  12 
D)  33 
E)  23

Question 11

The most expensive promotional tool on a cost-per-contact basis is

Accepted Answer

A)  personal selling. 
B)  direct mail. 
C)  television. 
D)  radio. 
E)  magazines.

Question 12

The marketing staff at Batson Corp.have developed a long list of possible new product ideas.In terms of the new product development process,what should they do next?

Accepted Answer

A)  Business analysis 
B)  Screening 
C)  Product testing 
D)  Concept testing 
E)  Prototype development

Question 13

When Molson Canadian included a free T-shirt with certain packages of its beer,this was an example of the use of a premium.

Accepted Answer

A) True 
 B)False

Question 14

How does the product life cycle mesh with the product development process?

Accepted Answer

A)  Product commercialization is the start of the introduction stage of the life cycle. 
B)  Commercialization indicates that the product has become a "star." 
C)  Prototype development is the start of the introduction stage of a life cycle. 
D)  Product testing and test marketing take place during the growth stage of the life cycle. 
E)  The two do not mesh in any way.

Question 15

Mel is shopping around for a high-definition TV.For Mel,the high-definition TV is a shopping good.

Accepted Answer

A) True 
 B)False

Question 16

A comparative advertising strategy is appropriate to the growth stage of the life cycle and attempts to convince consumers to switch to the firm's products based upon the results of a comparison of two products.

Accepted Answer

A) True 
 B)False

Question 17

Cartier Partners Financial Inc.builds goodwill by making their public service activities known.This activity is called

Accepted Answer

A)  publicity. 
B)  sales promotion. 
C)  advertising. 
D)  public relations. 
E)  personal selling.

Question 18

In 2012,______ companies were at the top of the "brand value" list.

Accepted Answer

A)  oil and gas 
B)  pharmaceutical 
C)  technology 
D)  automobile 
E)  luxury goods

Question 19

In Canada,advertising expenditures are smallest in which medium?

Accepted Answer

A)  Internet 
B)  Television 
C)  Magazines 
D)  Radio 
E)  Outdoor

Question 20

Television is a good medium for educating consumers about complex products.

Accepted Answer

A) True 
 B)False

Exam 16: Developing and Promoting Goods and Services

Penny has been hired by a manufacturing company to come up with a new remote control.Penny's first step would be

This communications vehicle is highly segmented,allows for excellent visual communication,and is long-lived,but requires a long lead-time.

The combination of television,radio,magazines,etc.that a company uses to promote its products and services is called the promotional mix.

Milk,newspapers,bread,and batteries are examples of ________ goods.

Why would a business firm want to have controlling sales volume as a promotional objective?

The average cost of an industrial sales call has been estimated at nearly $300.00.

When Lava soap advertises that it is a great product for dirty,grimy,manly hands,it is attempting to fulfill which promotional objective?

Television is a popular form of advertising because it is a combination of sight,sound,and motion appeals to almost all a viewer's senses.

Packaging costs can be as high as 15 percent of the total cost to make a product.

Speed to market is very important to a firm's success.One study has estimated that a product that is six months late will sacrifice ________ percent of its lifetime profit potential.

The most expensive promotional tool on a cost-per-contact basis is

The marketing staff at Batson Corp.have developed a long list of possible new product ideas.In terms of the new product development process,what should they do next?

When Molson Canadian included a free T-shirt with certain packages of its beer,this was an example of the use of a premium.

How does the product life cycle mesh with the product development process?

Mel is shopping around for a high-definition TV.For Mel,the high-definition TV is a shopping good.

A comparative advertising strategy is appropriate to the growth stage of the life cycle and attempts to convince consumers to switch to the firm's products based upon the results of a comparison of two products.

Cartier Partners Financial Inc.builds goodwill by making their public service activities known.This activity is called

In 2012,______ companies were at the top of the "brand value" list.

In Canada,advertising expenditures are smallest in which medium?

Television is a good medium for educating consumers about complex products.