MKT 300 Chapter 11

Though some people may not automatically identify a service as a product, marketers know that products comprise services as well as goods; sometimes a product may be a combination of the two. You work for a database company and want to ensure that your product listings are accurate, so you refresh your memory by checking how other firms identify their products. Which of the following should be identified as pure goods? a. Somaya just launched an online shoe company. b. Gold Standard Gym has affordable rates for all. c. A publishing company sells health-based curricula. d. Abe has contracted a recycling company that collects his materials weekly. e. Quarets Photography will take pictures of Lyssa's wedding.

A & C

You have recently been hired to work in the marketing department of a company that manufactures and distributes baby food. During orientation, you are told that baby food is a convenience product because it is a good that families want to purchase frequently, immediately, and with minimal effort. This summary makes sense to you because you have a younger brother, and you recall that whether baby food was on sale or not, your parents bought it because they needed to feed your brother. You also remember that because convenience products are typically cheap, retailers must sell large volumes in order to make a profit. Based on the information provided in the scenario above, which of the following would you be least likely to emphasize in the marketing mix for your company's baby food products? a. Hiring a personal selling staff b. Using many sales outlets c. Running ads d. Keeping price low

a. Hiring a personal selling staff

Cassie is failing her "Marketing 101" course. She has to get at least a 97 percent on the next exam to ensure a passing grade this semester, but she is still confused about the difference between two key dimensions of brand personality: relevance and esteem. As her study partner, you want to help Cassie pass the exam. Select the description of this concept that you will urge Cassie to review. a. Relevance is based on knowledge about the brand; esteem is based on perceptions of uniqueness. b. Relevance reflects the brand's pertinence to its target; esteem is a combination of quality perception and other opinions about the brand. c. Relevance refers to a brand's ability to stand out from competitors; esteem combines quality perception and knowledge about the brand. d. Esteem reflects the brand's pertinence to its target; relevance is a combination of quality perception and other opinions about the brand

b. Relevance reflects the brand's pertinence to its target; esteem is a combination of quality perception and other opinions about the brand

Organizations want to have a reputation for producing quality products with strong brand identities to give them an advantage in the marketplace. Brand equity, the added value of a brand name, has four dimensions. Choose the example that is not identified with the appropriate brand equity dimension. a. Gabriella buys her children Campbell's soup when they are sick because it comforts them and helps her feel she is helping by providing nutritious food. This illustrates the dimension of knowledge. b. Ruben buys a Ferrari because he thinks it will set him apart from other drivers. This illustrates the dimension of esteem. c. Peyton buys his jeans from Gap because he likes their quality and because almost all his friends buy Gap jeans too. This illustrates the dimension of esteem. d. Marta buys a pair of Dr. Scholl's shoe inserts because she thinks they will help her feet while she is jogging. This illustrates the dimension of relevance.

b. Ruben buys a Ferrari because he thinks it will set him apart from other drivers. This illustrates the dimension of esteem

You are a business consultant and have a contract with the Small Business Administration (SBA) to conduct training seminars for people seeking loans from the SBA to start new businesses. The SBA wants to give these prospective business owners as much information as possible so they have a greater chance of success. You are conducting a seminar on the different types of products that target business markets. Choose the type of business product that tends to have a long life and be very expensive, together with the correct example of such a product. a. installation; large conference table b. installation; customized computer system c. component; high-grade lumber d. equipment; fork lift

b. installation; customized computer system

The director of marketing at your firm is very interested in developing new packages. However, he or she doesn't want a scattershot development process; he or she wants the development team to prioritize the first objective of packaging. This means he or she will instruct the team to put its emphasis on: a. promotion. b. physical protection. c. product differentiation. d. cost effectiveness. e. trade dress

b. physical protection.

You decide to start a dog-walking service because you notice a number of trends that suggest a high demand for this type of service. You are trying to convince your brother to partner with you in this business, but one of his comments suggests that he doesn't understand the nature of a service. Which of the following comments did your brother make? a. Services are tied to the individuals who provide those services. Therefore, if a customer has a negative experience with the service provider, he or she may not return even if the service itself was impeccable. b. Consumers who have a need that can only be satisfied by an intangible task are often willing to pay someone to perform that task. Marketers call this a service. c. Standardized services are easier to provide than unstandardized services. d. Perishability means that the unused service capacity from one time period cannot be stored for future use.

c. Standardized services are easier to provide than unstandardized services.

You are preparing a seminar for your colleagues on the topic "How Marketers Protect Brand Equity." Which of the following pairs of terms and examples should you use when you explain the symbol that distinguishes a product? a. trademark, McDonalds golden arches b. trade symbol, McDonalds golden arches c. brand mark, Nike swoosh d. brand design, Nike swoosh

c. brand mark, Nike swoosh

A job description posted on Monster.com reads as follows: The individual will oversee each of the Skin Care Division's lotion and lip balm lines. In particular, he or she will be expected to maximize the profitability of all brands within those lines. This description suggests the company is looking for a: a. profit manager. b. line manager. c. category manager. d. brand manager. e. product manager.

c. category manager.

You work for a marketing company that specializes in researching market shares and profits related to miscellaneous consumer products. To ensure that the data you have collected are accurate, you categorize the consumer products of interest according to the customers' buying behavior: convenience, shopping, and specialty purchases. Choose the product that would be best described as a shopping purchase. a. A liposuction procedure b. A house c. A bag of pet food d. A pack of breath mints

b. A house

Airbnb, the online home rental business, has partnered with the Hearst publishing company to create Airbnb Magazine. This is primarily an example of: a. line extension. b. brand extension. c. online branding. d. retail branding. e. national branding.

b. brand extension.

This morning your boss, a product manager, assigned you to a group of coworkers who are focused on new product development. However, by the time you got home and started to tell your roommates about it, you forgot what the group is called. You do remember that it is the most common organizational arrangement for developing new products. Choose the most likely name of the group. a. The New Brand Development Department b. The Product Manager's New Product Development Division c. The New Product Venture Team d. The New Product Innovation Department

c. The New Product Venture Team

You have been asked to supervise a new intern, who inquires about the benefits of having combined goods and services businesses. Rather than explicitly tell him or her the answer, you explain to him or her how these types of businesses operate, so he or she can make an inference about the benefits. To illustrate the purpose of combined goods and services businesses, you tell your intern that sometimes, the combination of a primary good with additional services defines the complete product to the customer and better satisfies their needs. To further illustrate your point, you explain that local coffee shops offer coffee and breakfast as primary goods. However, they also provide free Wi-Fi to make customers more comfortable, encouraging longer stays and extra beverage or food purchases. Based on the information provided, what can your intern infer about the benefits of combined goods and services businesses? a. These businesses can make more strategic investments because they have combined goods and services. b. These businesses can choose to sell either their goods or their services, depending on demand. c. These businesses experience an increase in revenue faster than single good or service businesses. d. These businesses aim to better satisfy their customers by offering goods and services that complement each other. e. These businesses fail to assess markets and prices appropriately, and may decline in market competitiveness.

d. These businesses aim to better satisfy their customers by offering goods and services that complement each other.

Your company is studying new product opportunities in the business market. However, the firm has lost out in the past because of heavy price competition in the consumer market, so the CEO prefers to steer clear of the type of business product likeliest to face the same challenge. Which type of business product would you advise the CEO to avoid? a. installations b. consulting services c. component parts d. supplies e. equipment

d. supplies

Aiden is in charge of the supplies inventory at his manufacturing company. Which of the following items is not in Aiden's inventory? a. Garbage bags b. USB devices c. Receipt paper d. Toner for the printer e. Smartphones

e. Smartphones

You are in charge of ensuring that all labels used on your food company's packages are in compliance with the law. To remind employees of this responsibility, you distribute a checklist of label requirements. Which of the following does not appear on your checklist? a. Disclose country of origin. b. Provide the amounts of calcium and vitamins. c. Disclose major food allergens. d. Utilize a standard format for nutritional information.

a. Disclose country of origin.