exam 2

Which of the following is not a business product?

Calculators bought to help individuals complete their personal federal income tax forms

Within the information search step of the consumer buying decision process, what two primary aspects exist?

Internal search and external search

Which of the following statements about business buying is false?

Orders in business markets tend to be smaller than those placed in consumer markets.

What two modes of transportation are used when containers are shipped by piggyback?

Railroads and trucks

In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and

a modification should make the product more consistent with customers' desires.

The three major types of reference groups are

aspirational, disassociative, and membership.

An individual knows that a product exists, but has little information regarding the product and does not seek additional information. In what stage of the product adoption process is that person?

awareness

The part of a brand that can be spoken including letters, numbers, and words is the

brand name

Private distributor, generic, and manufacturer are the three types of

brands

"Is the demand strong enough?" is a question that marketers ask during the ____ phase of new-product development.

business analysis

A single leader who controls and organizes a marketing channel is called a

channel captain

When a product tries to capitalize on the brand equity of two separate brands, marketers are using

co-branding

The ability of a product to provide the same level of quality over time is called

consistency

When are marketers least likely to change a product's design, style, or other attributes?

decline

The members of a venture team come from

different functional areas of an organization.

Expensive, high-quality products that are purchased infrequently often reach consumers through

exclusive distribution.

A run-out policy of product deletion

exploits any strengths left in the product

t or f: Functional modifications are usually executed by altering the materials or the production process.

false

t or f: The two major product categories are business and institutional.

false

A culture can be divided into subcultures according to

geographic regions or human characteristics, such as age or ethnic background.

When a product experiences an increase in the number of competitors, it is usually in the _____ stage of the product life cycle; however, when that competition becomes intense, it is in the ____ stage.

growth; maturity

Packaging that is designed to flow through the distribution channel easily is called ____ packaging.

handling improved

Because of a service's ____, standardization and quality are difficult to control.

heterogeneity

A(n) ____ is a concept, philosophy, or image.

idea

During the evaluation of alternatives stage of the consumer buying decision process, framing most likely influences the decision process of ____ buyers. Select one:

inexperienced

Personal trainers cannot complete their work without their clients present because of the ____ feature of services.

inseparability

A manufacturer has decided to improve its inventory management by maintaining low inventory levels and waiting to purchase materials until right before they are needed in production. This inventory management technique is called

just-in-time (JIT).

The width of a product mix is measured by the number of product

lines a company offers.

A ____ brand usually requires a producer to become involved in distribution, promotion, and pricing decisions.

manufacturer

When a business finds itself squeezed out of a market for a product or loses interest in that product, it is a sign of being in the ____ stage of the product life cycle.

maturity

Freight transportation companies that offer several different shipment methods are called

megacarriers

Most business purchases can be classified as belonging to one of three types:

modified rebuy, new task, or straight rebuy.

Del Monte markets ketchup for household use to supermarkets through grocery wholesalers. It markets ketchup for institutional use through industrial distributors and food brokers. Del Monte is using

multichannel distribution.

When a business is making its initial purchase of an item to be used to perform a new job, it is known as a ____ purchase.

new task

After certain inputs have been selected to reach an individual's awareness, the next step in the perceptual process is perceptual

organization

Institutional markets are

organizations that seek nonbusiness goals.

As Brianna walks to classes, she selects, organizes, and interprets the sensations she is receiving through her sense organs. Brianna is experiencing the process of

perception

Product specifications are best described as

physical characteristics and level of quality.

The five major stages of the consumer buying decision process, in order, are

problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation.

The most important function of packaging is

protecting the product and maintaining its functionality.

Snappy Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of manufacturers and sells them to hardware stores at a price that includes a profit for Snappy Tools, Inc. The company would be part of what type of business market?

reseller

People's needs to grow, develop, and achieve their full potential are referred to by Maslow as ____ needs.

self-actualization

The three major categories of influences on the consumer buying decision process are

situational influences, social influences, and psychological influences.

During the maturity stage

some competitors are forced out.

In most service industries, customer-contact employees are

the lowest-paid and least-trained employees.

In a brand licensing arrangement, the licensee is responsible for

the manufacturing, marketing, and financing of the licensed product.

In product modification, the first issue to consider is whether

the product is modifiable.

A co-branded product from Sony and Martha Stewart would likely fail because

their products are not complementary.

t or f: Third-party logistics firms have special expertise in core physical distribution activities and can often perform these activities more efficiently.

true

Which of the following countries was the world's first service economy?

united states

During the search for products and evaluating possible suppliers stage of the business buying decision process, marketers sometimes use ____ analysis to examine the quality, design, materials, and possibly item reduction in order to acquire the product in the most cost-effective way.

value

When we speak of the number of product lines that a company offers, we are referring to the ____________ of the company's product mix.

width

Which of the following is most likely to be a product stocked solely by an industrial distributor?

wind turbines