chapter 10 Marketing

Which of the following is a difference between an express warranty and an implied warranty? a. A manufacturer must offer full refund under the terms and conditions of an express warranty, whereas no such refund is provided for an implied warranty. b. An express warranty is a simple statement, whereas an implied warranty consists of extensive documents written in technical language. c. A manufacturer that promises an express warranty must meet minimum quality standards, whereas a manufacturer that promises implied warranty does not have to meet any quality standards. d. An express warranty is a written guarantee, whereas an implied warranty is an unwritten guarantee that a good or service is fit for the purpose for which it was sold.

An express warranty is a written guarantee, whereas an implied warranty is an unwritten guarantee that a good or service is fit for the purpose for which it was sold.

Which of the following statements is true of a warranty? a. It helps retailers rapidly and accurately prepare records of consumer purchases and track sales. b. It gives a company the exclusive right to use a brand or a part of a brand. c. It focuses on a promotional theme or logo, while consumer information is secondary. d. It protects a buyer and gives essential information about a product.

It protects a buyer and gives essential information about a product.

Judy decides to gift her brother a guitar for his birthday. In this case, the guitar is an example of a _____. a. consumer product b. major equipment c. brand mark d. business product Hide Feedback

a. consumer product

A specific version of a product that can be designated as a distinct offering among an organization's products is called a _____. a. product item b. service mark c. brand equity d. brand loyalty

a. product item

The Weston Candy Company is known for its inexpensive chocolates. To appeal to a more upscale market, it introduces a new line of premium chocolates that are made from the world's finest cocoa. This is an example of _____. a. quality modification b. functional modification c. product placement d. planned obsolescence

a. quality modification

Diggit D, an electronics manufacturing company, believes that its competitor, Digit Dee, has copied Diggit D's name and product lines in order to mislead people and benefit from their name. Diggit D is likely to file a case against Digit Dee under the law governing _____. a. trademark infringement b. greenwashing c. co-branding d. persuasive labeling

a. trademark infringement

Which of the following statements is true of convenience products? a. They are more expensive than shopping products. b. Consumers buy these products regularly, usually without much planning. c. Marketers of convenience products often use selective, status-conscious advertising. d. Distribution of such products is often limited to one or a very few outlets in a geographic area.

b. Consumers buy these products regularly, usually without much planning.

Which of the following is true of an organization's product mix width? a. A wide product mix decreases sales and profit-making potential. b. Firms increase the width of their product mix to diversify risk. c. All product items in a product mix follow a standard marketing strategy. d. A wide product mix means that the product line is deep.

b. Firms increase the width of their product mix to diversify risk.

_____ is when a product or company attempts to give the impression of environmental friendliness whether or not it is environmentally friendly. a. Cooperative branding b. Greenwashing c. Global branding d. Persuasive labeling

b. Greenwashing

Which of the following statements is true of informational labeling? a. It increases consumers' cognitive dissonance after a purchase. b. It helps consumers make proper product selections from a variety of choices. c. It uses words such as "new," "improved," and "super" as these are extremely persuasive. d. It focuses on a promotional theme or logo, and consumer information is secondary.

b. It helps consumers make proper product selections from a variety of choices.

Private label products bring 10 percent higher profit margins, on average, than manufacturers' brands because a. heavy advertising by a manufacturer negatively impacts its consumer loyalties. b. overhead cost is low and there are no marketing costs in private labels. c. private labels sell products of superior quality. d. private label products are sold only to a niche target market.

b. overhead cost is low and there are no marketing costs in private labels.

Which of the following types of co-branding has advertised or marketed products together to suggest usage? a. Cooperative branding b. Ingredient branding c. Complementary branding d. Captive branding

c. Complementary branding

A _____ product is a relatively inexpensive item that merits little shopping effort. a. shopping b. major c. convenience d. specialty

c. convenience

Bethnik Blu, a high-quality paints manufacturer, markets its paints as eco-friendly products that contain no traces of harmful petrochemical byproducts. In this scenario, Bethnik Blu is implementing _____ in order to sell its products. a. brand equity b. individual branding c. greenwashing d. global branding

c. greenwashing

Unlike convenience products, shopping products are a. bought by consumers regularly and without much planning. b. widely distributed. c. usually expensive. d. distributed in one or a very few outlets in a geographic area.

c. usually expensive.

Aleesha refuses to buy any toothpaste other than her preferred brand, Blassey, manufactured by Blassey's Inc. If Blassey's toothpaste is not available in her neighborhood store, she drives to another store rather than buying a different brand. Based on this information, which of the following statements is true? a. Aleesha only buys products from convenience stores. b. Blassey's Inc. lacks individuality. c. Blassey's Inc. has benefitted from planned obsolescence. d. Aleesha has strong brand loyalty toward Blassey's Inc.

d. Aleesha has strong brand loyalty toward Blassey's Inc.

Which of the following statements is true of a product? a. The marketing process differs depending on whether the product marketed is a good or a service. b. Consumer products and industrial products are differentiated based on price. c. An excellent distribution channel and a persuasive promotion campaign can compensate for an inferior product. d. It may be a tangible good, a service, an idea, or any combination of these three.

d. It may be a tangible good, a service, an idea, or any combination of these three.

Firms increase the depth of the product lines to a. invest more in production and marketing. b. reduce the number of market segments. c. diversify risk across many product lines. d. attract buyers with different preferences.

d. attract buyers with different preferences.

A difference between a consumer product and a business product is that, unlike a business product, a consumer product is a. resold to other consumers. b. used to facilitate an organization's operations. c. used to manufacture business goods or services. d. bought to satisfy an individual's personal wants.

d. bought to satisfy an individual's personal wants.

Sammy's Soups markets just one product: canned soup. However, it markets 27 different varieties of canned soup. Based on this information, it is evident that Sammy's Soups has a a. broad product line and a wide product mix. b. narrow product line but a deep product mix. c. narrow product line and a wide product mix. d. deep product line but a narrow product mix.

d. deep product line but a narrow product mix.

A _____ may be defined as everything, both favorable and unfavorable, that a person receives in an exchange. a. warranty b. label c. trademark d. product

d. product

A company will most likely market its product under a different name in a new market if a. the product requires universal identification in all its markets. b. the company markets only one product. c. the product does not have any competition in the new market. d. there is difficulty in pronouncing the product name in the new market.

d. there is difficulty in pronouncing the product name in the new market.

Unlike the one-brand-name strategy, the strategy of using a different brand name in different markets a. is more useful when a marketer wants the brand to appear as a local brand. b. provides greater ease in coordinating promotion from market to market. c. is more useful when a company mainly markets one product. d. provides for greater identification of a product from market to market.

is more useful when a company mainly markets one product.

The company that owns Tulips Nation, a famous national clothing brand, is planning to market and sell its products worldwide. After some deliberation, the management decided to retain its brand name across international markets as well. The strategy adopted by Tulips Nation is an example of a(n) _____. a. individual branding strategy b. co-branding strategy c. same-brand strategy d. one-brand-name strategy

one-brand-name strategy

A _____ confirms the quality or performance of a good or service. a. bar code b. persuasive label c. warranty d. blueprint

warranty