Marketing Chapter 10 Test Review
unsought goods
which of these is not one of the categories in the business product classification system?
computer chip
which of these isn't an example of a raw material?
product assortment
the complete set of all products a business offers to its market
all of these choices are correct
the consumer purchase classification system is based on
true
true or false: a good way to improve customer satisfaction w/ products is to suggest the purchase of additional products that make the original product more useful
true
true or false: a product package serves the dual purpose of promotion and protection
true
true or false: a prototype is used to test quality and costs before full-scale production begins
true
true or false: a trademark protects a brand by prohibiting its use by unauthorized companies
true
true or false: as part of the financial analysis of a proposed new product, businesses look at best-case and worst-case scenarios
true
true or false: business markets make purchase decisions based on customer demand
true
true or false: businesses have many choices in the development of new products to make their brand unique
true
true or false: businesses use the consumer purchase classification system to decide how to market their products in consumer markets
true
true or false: companies can test marketing mixes through the use of computer simulations
false
true or false: companies should not be concerned about the financial analysis of a new product until after it is completely developed
false
true or false: examples of capital equipment are tools, small machines, and furniture
false
true or false: he easiest step in new product development is usually finding ideas for new products
false
true or false: if a product has been successful for a long time, it will probably remain successful because consumer seldom needs change
false
true or false: if a product is purchased both by consumers and businesses, it makes sense to use the same marketing mix for each market
true
true or false: in product design, the basic product is modified and improved w/ features and options
true
true or false: individuals or socially related groups who purchase products for personal consumption are known as consumer markets
false
true or false: market testing is an inexpensive, low-risk way to determine if a new product will be successful
true
true or false: marketers can use feedback from salespeople to gain insight into both customers and competitors
false
true or false: marketers who try to represent consumers during product planning will usually meet w/ resistance from upper management
true
true or false: marketing is the direct link between a business and its customers
true
true or false: most businesses follow a similar series of steps to identify and develop new products
false
true or false: most consumer needs are so basic that businesspeople don't have to be concerned about them
true
true or false: most supplies are not uniquely developed for one business
true
true or false: offering a guarantee or testimonial is a way to differentiate products
true
true or false: one draw of using test markets is that competitors may try to influence their results
false
true or false: one of the markets that businesses understand very well is the teenage market
false
true or false: operating equipment usually lasts longer than capital equipment
true
true or false: people eat at restaurants for many reasons other than to satisfy physical hunger
true
true or false: research is completed to clearly identify an appropriate target market in the strategy development stage of the new product development process
true
true or false: salespeople who work with customers every day are a good source of ideas for new products or product improvements
true
true or false: the Federal Trade Commission regulates how and when the word "new" can be used by businesses for their products
true
true or false: the basic physical product must respond to an important customer need
true
true or false: the development of seemingly simple products, such as toothbrushes, can involve complex choices among differentiating features
false
true or false: the federal trade commission requires that new products be clearly labeled as such for at least six months after they're introduced
true
true or false: the price of raw materials influences the price charged for finished products
true
true or false: the satisfaction provided from a product's use is more important to consumers than its physical appearance
false
true or false: to avoid having too many new product ideas, companies should evaluate ideas in the initial idea development stage
true
true or false: to encourage a large number of new product ideas, companies don't evaluate ideas in the initial development stage
false
true or false: when a consumer refuses to buy a brand, it's an example of the insistence level of brand recognition
specialty goods
which of the following is NOT a category of the business product classification system?
inexpensive
which of the following is NOT an important quality of a product's package?
several kinds of garden tools, fertilizer, seeds, and sprinkler systems
which of the following is an example of a product assortment?
extended-release aspirin in easy-to-swallow caplets
which of the following is an example of an enhanced product?
office building
which of these is an example of a capital good?
product assortment issues
which of these isn't an issue to consider when planning packaging?
product
anything tangible a business offers to a market to satisfy customer needs
component parts
buttons and zippers purchased by a garment manufacturer would be classified as...
business markets
companies and organizations that purchase products for the operation of a business or the completion of a business activity
consumers
consumer needs should be defined by...
enhanced product
a(n) ________________ includes additional options and features that allow a business to satisfy several target markets w/ one product
create and test a sample marketing strategy
after determining that a product idea is feasible, the next step in product planning is to...
all of these choices are correct
an important role for marketers in the product development process is to...
new product
market offering that is entirely new or changed in an important and noticeable way
all of these choices are correct
successful product ideas come from...
brand loyalty
a consumer's commitment to repurchasing, using, and even advocating a particular brand over all others
product line
a group of similar products with slight variations in the marketing mix to satisfy the different needs in a market
product line
a group of similar products with slight variations in the product mix to satisfy the different needs in a market is a...
brand
a name, symbol, word, or design that identifies a product, service, or company
all of these choices are correct
a problem w/ using a test market for new products is...
licensed brand
a well-known name and/or symbol established by one company and sold for use by another company to promote its products
both "the importance of the purchase to the consumer" and "the willingness of the consumer to shop and compare products before making the purchase"
the consumer purchase classification system is based on...
full-scale introduction of the product into the market
the last step in product development is...
trademark
the legal protection of words or symbols for use by a company is a...
useful and meet the consumers' needs
to interest a consumer, a product must be...
true
true or false: a company can only call a product "new" for six months after the introduction of or significant change in the product
true
true or false: a preference level of brand recognition exists when a consumer values a brand and chooses it when available
true
true or false: component parts have been either partially or totally processed by another company
true
true or false: consumers have a different view of products than the businesses that produce them
false
true or false: decaffeinated coffee w/ a hint of almond is an example of an extended product
false
true or false: developing new product ideas should be done scientifically rather than using creative processes
false
true or false: every product enhancement will add to customer satisfaction
true
marketers represent the consumer as products are designed and developed
problems customers cannot solve with current products
good sources of new product ideas are...
insistence
in this level of brand recognition, the customer values the brand to the point that they reject all others
consumer markets
individuals or socially related groups who purchase products for personal consumption
prototype
product model used to test quality and costs before beginning full-scale production