Marketing 6162 Chapter 8 Quiz

a.) the need-satisfying offering of a firm. - Product has been defined as the need-satisfying offering of a firm.

"Product" means a.) the need-satisfying offering of a firm. b.) a physical good with all its related services. c.) all the services needed with a physical good. d.) all of a firm's producing and distribution activities. e.) a well-packaged item with a well-advertised brand name.

a.) It might be any of these choices. - It could be any of these choices. Consumer product classes are based on how consumers think about and shop for products.

A $50 consumer product that is purchased infrequently is a(n) a.) It might be any of these choices. b.) unsought product c.) shopping product d.) specialty product e.) convenience product

a.) customers can own goods, but they cannot keep services. - A good is a tangible item. It is usually easy to know exactly what one will get before one decides to buy a good, and once purchased, the item is in one's possession. In contrast, services are not physical—they are intangible. When one provides a customer with a service, the customer cannot keep it. Rather, a service is experienced, used, or consumed.

A difference between goods and services is that a.) customers can own goods, but they cannot keep services. b.) goods are intangible items while services are tangible items. c.) it is often difficult to achieve economies of scale with goods, but it is easy to achieve economies of scale with services. d.) services are typically mass-produced in factories while goods are produced in person. e.) the quality of services is often more consistent than the quality of goods.

e.) fairly widespread and numerous contacts by experienced and sometimes technically trained personnel. - Accessory equipment needs fairly widespread distribution and numerous contacts by experienced and sometimes technically trained personnel; price competition is often intense, but quality is important.

Accessory equipment needs a.) very widespread distribution for prompt delivery. b.) technical contacts to determine the specifications required; but widespread contacts are not usually necessary. c.) fair to widespread distribution for prompt delivery. d.) fairly widespread contacts with users. e.) fairly widespread and numerous contacts by experienced and sometimes technically trained personnel.

d.) all of the answers are correct - Convenience products are products a consumer needs but isn't willing to spend much time or effort shopping for. These products are bought often, require little service, don't cost much, and may even be bought by habit. Staple products, impulse products, and emergency products are examples of convenience products.

Convenience products include a.) impulse products b.) staple products c.) emergency products d.) all of the answers are correct

e.) 30 In the United States, almost 30 percent of grocery store purchases are now dealer brands, with percentages much higher in many European countries.

Dealer brands make up almost ________ percent of the products in U.S. grocery stores. a.) 20 b.) 50 c.) 10 d.) 40 e.) 30

e.) professional services - Professional services are specialized services that support a firm's operations. Quality-control procedures help a firm improve its operations.

Drue Valentine is a management consultant who helps manufacturers improve their quality-control procedures for new products. Drue is selling a.) accessories b.) MRO's c.) Supplies d.) components e.) professional services

d.) does a good job satisfying a customer's requirements or needs. - Product quality should also be determined by how customers view the product. From a marketing perspective, quality means a product's ability to satisfy a customer's needs or requirements.

From a marketing perspective, a high-quality copy machine is one that a.) is designed and manufactured to last the longest. b.) offers the most features. c.) is produced with the best materials. d.) does a good job satisfying a customer's requirements or needs. e.) has the longest warranty

c.) heterogeneous shopping product - Heterogeneous shopping products are shopping products the customer sees as different and wants to inspect for quality and suitability. Quality and style matter more than price.

Gavan and Rebekah want to buy a TV. They look at several brands in several different stores before finally deciding on a Sharp. The TV set was the most expensive model they saw, but they felt it had better colors and would be more reliable. In this case, the TV is a(n) a.) impulse product b.) homogeneous shopping product c.) heterogeneous shopping product d.) specialty product e.) emergency product

a.) regularly unsought products. - Regularly unsought products are products like life insurance or gravestones, that stay unsought but not unbought forever. There may be a need, but potential customers aren't motivated to satisfy that need. For this kind of product, personal selling is very important.

Personal selling is extremely important for a.) regularly unsought products. b.) heterogeneous shopping products c.) new unsought products. d.) specialty products. e.) homogeneous shopping products.

d.) The number of potential customers at any one time is quite large. - Installations are a boom-or-bust business. During growth periods, firms may buy installations to increase capacity; but during a downswing, sales fall off sharply.

Regarding installations, which of the following is not true? a.) Multiple buying influence is common. b.) The buying needs of potential customers are basically economic. c.) Leasing installations may be attractive to buyers. d.) The number of potential customers at any one time is quite large. e.) It is common for sellers to offer specialized services.

c.) family; individual - When several products have the same brand name, the brand is known as a family brand. A company uses individual brands—separate brand names for each product—when it's important for the products to each have a separate identity, as when products vary in quality or type.

Sears uses a(n) ________ brand when it uses the same brand name for several products. In contrast, General Motors, by using different brands for each car line, uses ________ brands. a.) national; local b.) individual; generic c.) family; individual d.) manufacturer; dealer e.) generic; family

e.) consumers are willing to search for because they really want them. - Specialty products are consumer products that the customer really wants and makes a special effort to find.

Specialty products are consumer products that a.) are relatively expensive and purchased only rarely. b.) have elastic demand c.) All of the answers are correct. d.) very few customers want or can afford to buy. e.) consumers are willing to search for because they really want them.

c.) original equipment market - OEM stands for original equipment market. Car tires are components originally sold in the OEM that become consumer products in the aftermarket.

The market into which a company introduces components or parts that may be bought and configured into the final product and sold by the reseller is called the a.) operational essentials market b.) aftermarket c.) original equipment market d.) optimal brand market e.) general market

e.) identify a product. - Branding means the use of a name, term, symbol, or design—or a combination of these—to identify a product. It includes the use of brand names, trademarks, and practically all other means of product identification.

The primary purpose of branding is to a.) prevent competitors from stealing product ideas. b.) enhance package design. c.) increase quality. d.) boost customer satisfaction. e.) identify a product.

a.) product line - A product line is a set of individual products that are closely related. They may be produced or operate in a similar way, sold to the same target market, sold through the same types of outlets, or priced at about the same level.

The set of laptop computers sold by Dell is called a(n) a.) product line b.) unsought product c.) product assortment d.) emergency product e.) impulse product

c.) how buyers think about products and how they will be used. - Business product classes are based on how buyers think about products and how the products will be used.

The text's business product classes are based on a.) None of the answers are correct. b.) a buyer's willingness to search. c.) how buyers think about products and how they will be used. d.) how consumers think about and shop for products. e.) a buyer's price sensitivity.

d.) private brand - Private brands are brands created by intermediaries (i.e. channels of distribution).

Ukrop's Supermarkets places the Ukrop's brand on a wide variety of products that are only available in Ukrop's stores. The Ukrop's brand is referred to as a(n) a.) national brand b.) producer brand c.) global brand d.) private brand e.) manufacturer brand

d.) products that are bought quickly as unplanned purchases because of a strongly felt need - Impulse products are products that are bought quickly as unplanned purchases because of a strongly felt need. True impulse products are items that the customer hadn't planned to buy and decides to buy on sight.

Which of the following accurately defines impulse products? a.) any products bought for an immediate need or requirement b.) any products that consumers search for because of a strongly felt craving c.) any convenience products that are bought often and routinely d.) products that are bought quickly as unplanned purchases because of a strongly felt need e.) products that potential customers do not want yet or know they can buy

a.) products that are bought quickly as unplanned purchases because of a strongly felt need - Impulse products are products that are bought quickly as unplanned purchases because of a strongly felt need. True impulse products are items that the customer hadn't planned to buy and decides to buy on sight.

Which of the following accurately defines impulse products? a.) products that are bought quickly as unplanned purchases because of a strongly felt need b.) any convenience products that are bought often and routinely c.) products that potential customers do not want yet or know they can buy d.) any products that consumers search for because of a strongly felt craving e.) any products bought for an immediate need or requirement

d.) pair of jeans - Convenience products are products a consumer needs but isn't willing to spend much time or effort shopping for. Jeans do not qualify as a convenience product.

Which of the following is LEAST likely to be a convenience product for most consumers? a.) candy bar b.) laundry detergent c.) package of paper towels d.) pair of jeans e.) peanut butter

a.) All of these answers are correct - A product may be a physical good, a service, or a blend of both.

Which of the following is a product? a.) All of these answers are correct b.) a dental exam c.) a bus ride d.) a used car e.) a haircut

b.) trendy and fashionable - Being trendy and fashionable is not a pre-requisite for a good brand name. See Exhibit 8-6.

Which of the following is not among the characteristics of a good brand name? a.) legally available for use by the firm b.) trendy and fashionable c.) easy to spell and pronounce d.) suggestive of product benefits e.) adaptable to the brand's packaging

c.) an app that allows shoppers to virtually place furniture in their home to see how it looks - An app that allows a shopper to place a piece of furniture in their home to see how it looks is an example of the use of augmented reality (AR). AR overlays a computer-generated image, sound, text, or video on a user's view of the physical world.

Which of the following is the best example of augmented reality? a.) an online banking system b.) the ability of large retail chains to anticipate people's shopping needs c.) an app that allows shoppers to virtually place furniture in their home to see how it looks d.) the use of digital personal assistants like Apple's Siri to find the nearest gas station e.) a self-driving car that parallel parks on its own

b.) None of the answers are correct. - For maintenance and small operating supplies, breadth of assortment, the seller's dependability, and branding are important. These products have many suppliers and are often purchased via online catalog sites. Important operating supplies may receive special treatment. But new-task buying is not typical for most small operating supplies or for maintenance and repair supplies. They are often handled as straight rebuys.

Which of the following is true of supplies? a.) New-task buying is typical with most purchases. b.) None of the answers are correct. c.) Only one supplier is generally available. d.) Breadth of assortment is important, but dependability is not. e.) Branding is not important for maintenance and small operating supplies.

b.) None of the answers are correct. - For maintenance and small operating supplies, breadth of assortment, the seller's dependability, and branding are important. These products have many suppliers and are often purchased via online catalog sites. Important operating supplies may receive special treatment. But new-task buying is not typical for most small operating supplies or for maintenance and repair supplies. They are often handled as straight rebuys.

Which of the following is true of supplies? a.) Only one supplier is generally available. b.) None of the answers are correct. c.) New-task buying is typical with most purchases. d.) Branding is not important for maintenance and small operating supplies. e.) Breadth of assortment is important, but dependability is not.

a.) Packaging choices that are environmentally friendly can create value for both buyers and sellers. - Greener packaging can create value for both buyers and sellers. A growing number of consumers are interested in making greener choices and firms are making packaging choices that are better for the environment.

Which of the following statements about packaging is true? a.) Packaging choices that are environmentally friendly can create value for both buyers and sellers. b.) There is very little government regulation of packaging, except for drug products. c.) None of these statements is true. d.) Better packaging almost always raises total distribution costs. e.) The number of package sizes for similar products from different manufacturers is increasing dramatically because most firms realize that this makes direct comparisons among brands more difficult.

c.) It spells out what kinds of brand names can be protected. - The Lanham Act of 1946 spells out what kinds of marks including brand names can be protected and the exact method of protecting them. The law applies to goods shipped in interstate or foreign commerce.

Which of the following statements about the Lanham Act is true? a.) It makes registration of a brand name mandatory. b.) All these statements are true. c.) It spells out what kinds of brand names can be protected. d.) Registering under the Lanham Act does not help protect a trademark to be used in foreign markets. e.) Registration under the Lanham Act only applies to licensed brands.

e.) convenience products - Convenience products are products a consumer needs but isn't willing to spend much time or effort shopping for. These products are bought often, require little service, don't cost much, and may even be bought by habit.

________ are products a consumer needs but isn't willing to spend much time and effort shopping for. a.) homogeneous shopping products b.) unsought products c.) specialty products d.) heterogeneous shopping products e.) convenience products