MRKT Ch. 11
E
Weyerhaeuser is evaluating its complete product mix. It wishes to decrease some of its marketing expenditures and streamline its product offerings. Weyerhaeuser will most likely look at products in the _____ stage of the product life cycle as possibilities for elimination. a) not yet developed b) growth c) introduction d) maturity e) decline
B
Buyers do not compare alternatives when shopping for ______ products. a) convenience b) specialty c) shopping d) unique e) unsought
A
A common business objective of the ___________ stage of the product life cycle is to generate cash flow. a) maturity b) growth c) introduction d) market reduction e) decline
A
A company wanting to maintain market share during the maturity stage requires moderate to large a) advertising expenditures. b) distribution expenditures. c) production expenditures. d) price increases. e) packaging modifications.
C
A distributor of plumbing supplies purchases a desktop computer to aid in inventory control. This computer is an example of which type of business product? a) Raw material b) Installations c) Accessory equipment d) Component part e) Process material
A
A firm with a product in the decline stage of the product life cycle may decide to gradually reduce marketing expenditures and realign its marketing mix to one that requires fewer resources. This approach is called a) harvesting. b) investing. c) realigning. d) divesting. e) mixing.
E
A light bulb can be considered all of the following except a) a consumer product. b) a business product. c) either a consumer product or a business product. d) a business product if it is used to light an assembly line in a factory. e) a consumer product if it is used to light the office of the board of directors.
D
A product item is best described as a a) component of a marketing mix. b) particular brand. c) specific characteristic of a product. d) specific version of a product. e) unit of measure for the product.
C
A product line is defined as a) products that can be designated as a unique offering among the organization's products. b) products that an organization makes available to consumers. c) a group of closely related products that are considered a unit because of marketing, technical, or end-use considerations. d) a specific group of products that are offered to the market. e) products that are sold by the same firm or a division of a firm.
A
A product mix is best described as a) all products offered by a firm. b) product, distribution, promotion, and price. c) many products sold by one firm. d) all products of a particular type. e) a group of closely related products that are considered a unit because of market, technical, or end-use considerations.
a
A set of Bose car speakers sold to Ford for use in the production of a hybrid Escape, would be an example of a(n) a) component part. b) specialty item. c) accessory equipment. d) raw material. e) process material.
C
A specialty product a) requires minimal effort to purchase. b) is purchased frequently. c) requires purchase planning, and the buyer will not accept substitutes. d) is generally less expensive than other items in the same product class. e) prompts the purchaser to make comparisons among alternatives.
C
A(n) _____ is a concept, philosophy, or image. a) product b) good c) idea d) service e) issue
A
According to the text, a product is defined as a) anything the customer receives in an exchange. b) the physical object the customer receives in an exchange. c) the service that is rendered to a customer. d) the idea that the customer receives in an exchange. e) goods and services the customer receives in an exchange.
E
All of the following are reasons why new products fail except a) overestimated market size. b) followed a systematic plan. c) distributed insufficiently. d) had poor timing. e) promoted poorly.
a
Although they become part of a larger product, _______ can often be easily identified and distinguished on the larger product. a) component parts b) accessory parts c) raw materials d) process materials e) MRO supplies
D
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? a) Trial b) Adoption c) Interest d) Awareness e) Evaluation
B
An individual moves into the adoption stage of the adoption process at the point when he or she a) is self-motivated to get information about the product. b) begins using that specific product. c) seriously considers whether the product will satisfy his or her needs. d) experiences the product for the first time. e) becomes aware that the product exists.
A
As Jessica enters Best Buy's car electronics department, she is asked by the salesperson if she has seen the new plug-in cell phones with TV display. She answers that she didn't know that this type of phone accessory for cars was available. Based on this information, she is now in what stage of the product adoption process for this item? a) Awareness b) Interest c) Evaluation d) Trial e) Adoption
E
As the production manager of an engineering firm, you went out and bought a metal cutting machine. What you have purchased can best be classified as a a) raw material. b) processed component. c) component part. d) service. e) business product.
C
Brunswick's bowling balls, bowling bags, and shoes are individual product ___________ for this sporting goods manufacturer. a) menus b) mixes c) lines d) life cycles e) ensembles
c
Business products are a) purchased for personal consumption. b) chosen on the basis of preferences expressed by a business procurement department. c) purchased for both their functional aspects and their psychological rewards. d) classified according to their characteristics and intended uses. e) not purchased by nonbusiness organizations.
E
Business products are classified into the following seven categories according to characteristics and intended uses: raw materials, installations, accessory equipment, component parts, process materials, business services, and a) production activities. b) service assistance. c) specialty industrial products. d) computer programming and operation services. e) MRO supplies.
c
Business products that are purchased routinely, do not become part of finished goods, and are expense items rather than capital goods are called a) raw materials. b) installations. c) accessory equipment. d) component parts. e) process materials.
E
Cadillac recognized it needed to revitalize its brand and attract different market segments. These are indications that Cadillac's products were primarily in the ______ stage of the product life cycle. a) maturity b) growth c) introduction d) market testing e) decline
A
Convenience products are a) relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort. b) frequently purchased items for which buyers are willing to exert considerable effort. c) frequently purchased items that are found in certain retail outlets. d) items that are expensive but are easy to purchase. e) items that require some purchase planning and for which the buyer often will not accept substitutes.
A
Dannon Yogurt represents what type of product for most consumers? a) Convenience b) Business c) Shopping d) Specialty e) Durable
C
Depending on the length of time it takes them to adopt a new product, people can be divided into five major adopter categories: early adopters, early majority, late majority, laggards, and a) late adopters. b) nonadopters. c) innovators. d) middle adopters. e) middle majority.
E
Dish Network satellite TV cut back advertising expenditures to minimum levels and reduced the number of channel members for its industrial satellite product. These actions indicate that its product is in the ___________ stage of its life cycle. a) introduction b) growth c) maturity d) early e) decline
A
During the growth stage of the product life cycle, marketers must a) fortify the product position. b) move to exclusive distribution. c) raise the price. d) increase promotion as a percentage of sales. e) introduce private brands.
c
During the introduction stage of a successful product, profits are usually a) at their highest point. b) negative and decreasing. c) negative and increasing. d) positive and increasing. e) declining.
A
Energizer batteries would be classified as which type of product? a) Convenience b) Shopping c) Specialty d) Unsought e) Industrial service
c
Facilities, factories, and production lines with very large equipment are all classified as a) accessory equipment. b) permanents. c) installations. d) component parts. e) MRO facilities.
E
Frito-Lay, which is widely known for producing chips and other snack products, tried to introduce Frito-Lay lemonade. The reason this new product failed is likely because of a) poor timing. b) the failure to match product offerings to customer needs. c) technical problems. d) overestimation of market size. e) ineffective branding.
D
Heinz promoting its vinegar as an effective cleaner for wall, glass, and kitchen and bathroom surfaces would most likely be a strategy for the _____ stage of the product life cycle. a) introduction b) decline c) growth d) maturity e) competitive
b
In which stage of the product life cycle do profits begin to decrease? a) Introduction b) Growth c) Maturity d) Decline e) Recovery
B
In which stage of the product life cycle do profits peak? a) Introduction b) Growth c) Decline d) Termination e) Maturity
A
Large tools and machines used in a production process for a considerable length of time are classified as a) installations. b) accessory equipment. c) component parts. d) raw materials. e) MRO supplies.
B
MADD (Mothers Against Drunk Driving) is a nonprofit organization that primarily markets a) services. b) ideas. c) goods. d) tangible products. e) features.
E
Minerals, chemicals, timber, and agricultural products are considered a) process materials. b) accessory materials. c) MRO supplies. d) component parts. e) raw materials.
B
Nick Arnold's Auto Towing Service would best be described as a(n) __________ product. a) convenience b) unsought c) specialty d) durable e) shopping
A
One company markets such diverse products as Rosarita Mexican foods, Max Factor cosmetics, and Samsonite luggage. These various offerings exhibit this firm's product mix a) width. b) depth. c) length. d) volume. e) dimension.
C
Procter & Gamble makes at least eight different laundry detergents. This is most relevant to the issue of a) width of product mix. b) product mix consistency. c) depth of product mix. d) a market mix. e) a promotion mix.
B
Products are classified as being business or consumer products according to the a) goals of the organization. b) buyer's intended use of the product. c) seller's intended use of the product. d) location of use. e) types of outlets from which they are purchased.
A
Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ______ products. a) shopping b) specialty c) service d) convenience e) unsought
e
Products used directly in the production of a final product but are not easily identifiable are categorized as a) accessory products. b) component parts. c) MRO supplies. d) assembly components. e) process materials.
B
Products which are relatively inexpensive and frequently purchased with minimal effort are classified as ___________ products. a) shopping b) convenience c) industrial d) specialty e) unsought
C
Sara Lee Corporation manufactures desserts, breads, pantyhose, meats, and a variety of other products. These products make up Sara Lee's product a) line. b) item. c) mix. d) width. e) depth.
A
Shannon Hill needed to buy an airline ticket to visit her parents. She called several airlines to compare rates and chose a flight on Southwest Air Lines because, for comparable prices, it had a better reputation for service. For Shannon, this flight is an example of which type of product? a) Shopping b) Convenience c) Specialty d) Unsought e) Industrial
E
Shopping products have a _____ inventory turnover and need _____ distribution outlets than convenience goods. a) similar; more b) higher; fewer c) higher; more d) lower; more e) lower; fewer
C
The Carsons are going on a vacation back to Texas. When they lived there, Gwen Carson loved Blue Bell Cookies. Blue Bell is sold only in Texas. She plans to buy two boxes at the first store she visits after they arrive. For Gwen, Blue Bell represents a(n) ___________ product. a) convenience b) shopping c) specialty d) unsought e) durable
c
The depth of a product mix is measured by the average number of a) convenience products as compared with the number of specialty products. b) different product lines offered by the company. c) different products offered in each product line. d) specialty products as compared with the number of convenience products. e) product features that the company offers.
E
The difference between absolute and relative product failure is a) absolute product failure can be fixed by repositioning or improving the product, whereas relative product failure is permanent. b) relative product failure loses money on its investment, whereas absolute product failure returns a small profit. c) relative product failure is the result of poor timing, whereas absolute product failure is the result of the lack of the ability to provide benefits that satisfy customers' desires. d) absolute product failure is caused by design problems, whereas relative product failure is caused by poor promotion or distribution. e) absolute product failure results in a loss on the investment and is deleted from the product mix, whereas relative product failure results in a small profit, and improvements or repositioning can create success later.
D
The four major stages of a product life cycle include a) prosperity, recession, depression, and recovery. b) specialty, convenience, shopping, and unsought goods. c) decline, stabilization, exposure, and growth. d) introduction, growth, maturity, and decline. e) awareness, interest, trial, and adoption.
d
The intangible products that most organizations use in their operations are called a) component parts. b) MRO supplies. c) process ideas. d) business services. e) installations.
B
The last group to adopt a new product, _________, is oriented toward the past and is suspicious of new products. a) non-adopters b) laggards c) innovators d) late adopters e) late majority
B
The stage of the product life cycle when marketers consider eliminating products that are not contributing to profitability or the overall effectiveness of a product mix is the ____ stage. a) maturity b) decline c) growth d) introduction e) reorganization
D
The width of a product mix is measured by the number of product a) dimensions in the product line. b) features in each brand. c) items in the product line. d) lines a company offers. e) specialties a company offers.
B
To make intangible products more tangible or real to the consumer, marketers often a) use low prices on intangible goods. b) use symbols or cues to help symbolize product benefits. c) use external reference prices. d) use multiple channels of distribution. e) offer more support services with such products.
B
Tojitos Mexican Restaurant purchased several large ovens for use in remodeling its kitchens. These ovens are an example of which type of business product? a) Raw materials b) Installations c) Accessory equipment d) Component parts e) Process materials
C
What are a marketing manager's two options during the decline stage? a) Reintroduce the product to new markets or stop sales immediately b) Speed up the product's decline or increase advertising c) Attempt to postpone the decline or accept its inevitability d) Divesting the brand or reinvesting in the brand e) Accept the decline or phase the product out
D
What measure of the product mix involves the number of product lines a company offers? a) Quality b) Consistency c) Depth d) Width e) Size
D
When Clorox introduced bleach in a no-drip bottle, the firm was taking action consistent with its product being in the ___________ stage of the product life cycle. a) introduction b) growth c) stabilization d) maturity e) decline
A
When Jones' Soda launched its Turkey Gravy flavored soda, it was hoping to take advantage of the short-lived clear-products fad. By the time it launched the soda, the fad for quirky soda flavors had already waned, and customers were no longer clamoring for these type of products. The reason this product failed is a) poor timing. b) the company's failure to match product offerings to customer needs. c) ineffective branding. d) design problems. e) overestimation of market size.
D
When Saturn offers to let qualified buyers test drive the new Saturn SKY roadster, the dealer is trying to stimulate which stage of the product adoption process? a) Awareness b) Interest c) Evaluation d) Trial e) Adoption
B
When Sony realized its CD players were in the decline stage, it decided to immediately withdraw all of its marketing support from these declining products, an approach known as a) harvesting. b) divesting. c) investing. d) realigning. e) squashing.
A
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. a) maturity b) growth c) introduction d) market reduction e) decline
C
When a sudden problem confronts a consumer, such as emergency automobile repair, he or she is likely going to view solutions to that problem as a) specialty products. b) installations. c) unsought products. d) shopping products. e) convenience products.
C
When an individual considers whether a product will meet certain criteria that are critical for meeting his or her needs, in what stage of the product adoption process is this individual? a) Interest b) Awareness c) Evaluation d) Trial e) Adoption
E
When banks add new services during the maturity stage, the objective they are most likely trying to achieve is a) pruning items from the product line. b) generating cash flow. c) maintaining their market share. d) filling geographic gaps. e) increasing their share of the customer.
D
Which of the following best defines the interest stage in the product adoption process? a) The buyer tries to find the product in a retail store. b) The buyer considers the benefits and determines whether to try the product. c) The buyer tries the product to determine its usefulness. d) The buyer seeks information and is receptive to learning about the product. e) The buyer uses objective sources to learn about the product.
D
Which of the following best illustrates how a firm can use a symbol to make an intangible product more tangible? a) McDonald's arches b) Mercedes Benz emblem c) Nike swoosh d) Traveler's Insurance umbrella e) Arrows on Wrigley gum packages
A
Which of the following is always used to determine the classification of a good? a) Buyer's intent for using the product b) Amount of shopping required by the buyer to obtain the product c) Price of the product d) Specific product features e) Industry competitors
D
Which of the following is most likely to be considered a convenience good? a) A lamp b) A haircut c) Running shoes d) Gatorade e) Concert tickets purchased online
E
Which of the following is not a business product? a) Oil to be refined into fuel b) Chips to be integrated into components for personal computers c) Paper, pens, and tape to be used in an office d) Marketing consulting services to aid a company in marketing a new product e) Calculators bought to help individuals complete their personal federal income tax forms
D
Which of the following is not a stage in the buyer's product adoption process? a) Awareness b) Adoption c) Trial d) Exploration e) Interest
a
Which of the following is the most typical example of a new product introduction? a) Pringles sold in snack-sized containers b) A brand-new nut discovered in Africa c) A car that uses no oil or gasoline d) Shoes that literally make you run faster e) A device that cools your car while parked outside
A
Which of the following statements does not apply to convenience goods? a) Consumers are brand loyal to convenience products and are not likely to substitute other brands. b) Convenience products require minimal shopping effort. c) Marketing of convenience products requires intensive exposure of these goods in as many stores as possible. d) Consumers tend to feel that the most desirable retail facility for convenience products is the closest one. e) Colas, gasoline, and bread are good examples of convenience goods.
A
Which of the following tactics would typically be employed when a product is in the growth stage of its life cycle? a) Lowering prices after developmental costs have been recovered b) Raising promotion expenditures as a percentage of total sales c) Moving from intensive to selective distribution d) Raising prices to encourage competitors to enter the market e) Reducing the number of product models in the product line
C
Which stage in the product life cycle is critical to a product's survival because competitive reactions to the product's success during this period will affect the product's life expectancy? a) Decline b) Expansion c) Growth d) Introduction e) Stabilization
B
Which stage of the product life cycle begins when a business reaches the breakeven point with the product? a) Maturity b) Growth c) Introduction d) Market testing e) Decline
D
Which stage of the product life cycle is characterized by intense competition? a) Decline b) Plateau c) Introduction d) Maturity e) Stabilization