test 2

Many customers will drive long distances to purchase Krispy Kreme doughnuts, even though other doughnuts are available for purchase at nearby locations. For such customers, Krispy Kreme doughnuts are a:

specialty product.

A distribution center is designed to:

speed the flow of goods and avoid unnecessary storing.

Just-in-time systems:

All of these JIT alternatives are correct.

The physical distribution customer service level is important because:

All of these alternatives are correct.

The product life cycle has four stages. Which of the following is not one of these?

Economic competition

Which of the following is a common cause of customer dissatisfaction in service industries?

Extended wait times

Which of the following is NOT a general characteristic of most business products?

From a tax perspective, all purchases of business products are written off in the year in which the purchase is made.

According to the text, Hulu operates as a channel specialist doing all of the following activities except:

Hulu does all of these activities.

Which of the following statements regarding the market growth stage of the product life cycle is FALSE?

Innovators still earn profits--but this stage is less profitable for them than the previous stage.

An industry faces falling profits and its sales growth is slow. Demand for individual brands has become quite elastic--as consumers see competing products as almost homogeneous. Several firms have dropped out. What is the life cycle stage?

Market maturity

Which of the following is not true regarding direct channels of distribution?

Most consumer products are sold direct to customers.

Which of the following statements does not accurately characterize pioneers or first to market with a new idea? Group of answer choices

Pioneers tend to become the most successful companies in an industry.

Which of the following is a common approach used in transportation analytics?

Placing sensors on trucks and trains to track and improve performance

Marketers are increasingly using data to improve quality. Which of the following types of data would be the most helpful in guiding marketers to improve a product?

Product usage and performance data

A floral delivery company uses JIT delivery systems throughout its entire distribution channel. Which of the following is most likely to be experienced by the company as a result?

Reduced costs of storing floral inventory

Which of the following is not a business product class?

Shopping Product

For most customer purchases, products like deodorant, toilet paper, and razors are classified as:

Staples

Marketing specialists develop to adjust "discrepancies" in the marketplace. Which of the following best explains the concept of "discrepancies"?

The assortment and quantity of products wanted by a customer may be different than the assortment and quantity of products normally produced by a manufacturer.

A trucking company would be LEAST likely to use global positioning data to determine which of the following?

The content of driver communications with customers

Which of the following demonstrates the promotional use of packaging?

The famous Energizer bunny appears on the Energizer battery package.

Cloud Storage Solutions worked closely with customers - showing them early versions of its software and interface and then quickly making changes based on customer feedback before soliciting feedback again. The company wanted to fail early and often so that it quickly brings to market a product that met customer needs. Cloud Storage Solutions appears to be using:

a co-creation process.

When a channel has a "product-market commitment":

all members focus on the same target market at the end of the channel.

Electronic data interchange:

all of these alternatives about EDI are correct.

According to the "physical distribution concept":

all transporting, storing, and product-handling activities of a business and a whole channel system should be coordinated as part of one system.

A key difference between supplies and components is:

components become part of a finished product.

Luxury brands can enhance the prestige of products by using _____ distribution.

exclusive

During the market introduction stage of the product life cycle:

funds are being invested in marketing with the expectation of future profits.

A channel of distribution:

is any series of firms or individuals who participate in the flow of goods and services from producer to final user or consumer.

The new-product development process:

is based on the idea that a firm should eliminate potentially unprofitable product ideas as early as possible.

When iHome developed a clock radio/music player that connected with the Apple iPod, iHome used the iPod brand name in its promotion with Apple's permission. In this case, for iHome, iPod is an example of a:

licensed brand.

The ideal level of market exposure for a product:

makes a product available widely enough to satisfy target customers' needs but NOT exceed them.

When Procter and Gamble introduces a new type of shampoo into one market in Kansas City to determine how many units of it can be sold over a nine-month period, this is an example of:

market testing

In "traditional channel systems":

members at each level of the channel often have a very different view of who the competitors are.

Product ideas that survive the screening and idea evaluation steps get further investment of time and money, including the creation of a _____, or an early sample or model built to test a concept. Group of answer choices

prototype

A manufacturer having irregular need for regional storage of bicycles should use which one of the following?

public warehouses to provide flexibility and low unit cost.

All products fit into one of two broad groups based on:

the type of customer that will use them.

The text's consumer product classes are based upon:

the way people think about and shop for products.

Discrepancies of quantity occur because:

to obtain economies of scale, individual producers often make larger quantities of products than individual consumers normally want to buy.

Transporting costs:

usually do not add much to the final cost of products which are already valuable relative to their size and weight.

Corporate channel systems can develop through _____, or acquiring firms at different levels of channel activity.

vertical integration