Chapter 12

False

The two key aspects of product quality are level and longevity. True False

product line

A home décor company manufactures a range of bedding products such as bedspreads, pillows, and mattresses. The range of bedding products represents the _____ of the company. commodity chain supply chain product mix product line

an accountant providing financial consultation to a firm

An example of a pure service is: a car service center that sells automobile parts. a watch that also acts as an altimeter and a compass. an accountant providing financial consultation to a firm. a delivery truck delivering pizzas to customers.

component parts and processed materials

Aubosh, a car manufacturing company, is in a contract with Bolivin Tires. Under this contract, Aubosh purchases tires from Bolivin Tires for all its mid-range cars. In this scenario, Aubosh buys _____ from Bolivin Tires. the maintenance, repair, and operating products installations component parts and processed materials accessory equipment

search engine optimization

Austere Realty, a real estate company, ensures that its web page always shows up high among the list of results whenever a user looks for information related to property and housing on the Internet. In this scenario, Austere Realty is actively engaged in _____. geotargeting web scraping search engine optimization organic linking

brand equity

Blue Legion, a well-known jeans manufacturer, is the main sponsor for a rock concert. Although the tickets to the concert are exorbitantly priced, the public feels that since the concert is being sponsored by a company like Blue Legion, it must be worth it. The scenario illustrates that Blue Legion has a good _____. brand valuation product consistency brand equity product mix

True

Cannibalization occurs when a producer offers a new product that takes sales away from its existing products. True False

missionary selling

Clembor AgroSciences, an agrochemical company, mainly focuses on selling its products in rural markets. The company promotes goodwill by sending teams of salespeople to instruct farmers on the right usage of the products and responding to their agriculture-related queries. In this scenario, Clembor AgroSciences is engaged in _____. social selling social selling green marketing cause-related marketing missionary selling

convenience products

Glinda goes to the supermarket for her monthly grocery shopping. As she waits in the line at the cash register, she sees her favorite kiwi-flavored candies on a stand and puts some into her shopping cart. In the context of product classifications, the candies purchased by Glinda are _____. convenience products unsought products shopping products specialty products

building customer awareness of the product.

In the introduction stage of the product life cycle, companies are primarily focused on: building customer awareness of the product. introducing new variations of existing products. defending the franchise with competitive advertising and price cuts. protecting the market share of the product from competitors.

shopping products

Joel wants to buy his best friend a home audio system for his birthday. He visits a few electronic stores and looks at different brands of audio systems and compares their prices. He finally purchases a wireless Bluetooth home audio system from a store that offers good quality within a reasonable price. In the context of product classifications, Joel's purchase falls under the category of _____. convenience products unsought products shopping products specialty products

licensing

Kiddiecon, a company that manufactures stationery products for children, signs a contract with an animation studio to use one of its popular cartoon characters as a design on its school bags. Kiddiecon's contract with the animation studio is an example of _____. a divesture cobranding licensing an acquisition

integrated marketing communication

Longevo, a watch manufacturing company, offers watches in a wide range of designs to suit all age groups. To adequately cover its wide and diversified consumer base, the company makes use of all the traditional and new age media platforms for its promotions. The promotional strategy used by Longevo is _____. viral marketing product placement integrated marketing communication inbound marketing automation

guerrilla marketing

Lucy opens a restaurant that uses only organic ingredients in its dishes. The restaurant quickly gains popularity as its customers recommend it to their friends and family. In this scenario, Lucy's restaurant business is benefiting from _____. social marketing guerrilla marketing call-to-action marketing close range marketing

instant name recognition

One of the benefits of licensing is: lesser legal restrictions. ease of finance from the parent company. instant name recognition. that it safeguards the company's products as an exclusive entity.

true

Product diffusion happens at different speeds, depending on the individual consumer and on the product itself. True False

The business is a mix of goods and services

Rosy's Sweet Treats is a food truck that sells waffles. In this scenario, which of the following is true of Rosy's Sweet Treats? The business deals in pure services. The kind of product offered by the business is an example of shopping products. The kind of product offered by the business is an example of specialty products. The business is a mix of goods and services.

product mix

Streetlore, a footwear manufacturing company, makes business and casual shoes for both men and women. The company also makes school bags for children between the ages of five to ten years. The entire line of goods made by Streetlore represents the _____ of the company. product chain marketing mix supply chain product mix

large and complex accounts.

Team selling works best for: large and complex accounts. newly acquired accounts. medium-sized existing accounts. small accounts.

product placement

Vermontz, an automobile company, pays a film studio to include its new sports car in two scenes of its latest action movie. The company feels this would help them gain maximum visibility, and the fans would also develop a positive association with the brand when they will see their favorite actor using the car in the film. Vermontz's business deal with the film studio exemplifies _____. product placement viral marketing sponsorship native advertising

cannibalization

Zetovi Corp. is a multinational communications and information technology company. It manufactures smartphones and other cell phone accessories. The company launched a range of tablets in the market, and it becomes an instant hit. The company then experiences a drastic decline in the sales of its smartphones as a large section of its customer base shifts to tablets. Which of the following concepts is being illustrated in this scenario? segmentation cannibalization market penetration product bundling

licensing

Zollien, a manufacturer of men's shirts and jackets, has reached an agreement with Arbrada Inc. According to the agreement, Zollien will pay Arbrada a substantial fee for the right to use Arbrada's name and logo on some of its clothing lines. This type of arrangement is known as: licensing cannibalization line extension aquisition

integrated marketing communication

_____ involves using all the media platforms to promote a product. Social marketing intelligence Linear marketing Integrated marketing communication Viral marketing

missionary selling

_____ refers to promoting goodwill for a company by providing information and assistance to customers. social selling green marketing cause-related marketing missionary selling

quality level

__________refers to how well a product performs its core function. product line quality level perishable level licensing