Marketing Exam 3 ch 11-15

4. Rick is a new product manager for a large bio-chemical firm. He is currently working on a proposal for a new chemical solvent and knows that introducing the new product can be risky because it might fail. He also knows that ___ is risky as well.

not introducing new products.

5. The fact the services cannot be inventoried and then sold at a later date

perishability

7. When Sophie buys organic produce for her household using a channel with only two points in the chain- the seller and the buyer- that seller (farmer in this case) is classified as a

producer

6. Consumers receive the benefits of place utility when

products are available in locations where consumers want to buy them

7. In an attempt to attract customers, service marketers often promise great results and satisfaction to customers, but marketers should be careful not to

promise too much and cause customer expectations beyond what they can deliver

3. Minerals, chemicals, timber, and agricultural products are considered

raw materials

3. Supply chains for durable goods typically begin at _____ and end ______.

raw materials; the customer

2. Convenience products are...

relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort

8. Often, a new product is launched in stages during commercialization. This gradual introduction of the product is known as

roll-out.

7. "Is the demand strong enough?" is a question that marketers ask during the ____ phase of new-product development.

screening

6. If Best Western bundles its rooms with services such as free local phone calls, cable television, wireless Internet access, and complimentary breakfast, these services are known as ____ services.

supplementary

1. A set of approaches used to integrate the functions of operations management, logistics management, supply management, and marketing channel management so products are produced and distributed in the right quantities, to the right locations, and at the right time is called

supply chain management

1. Services are usually provided through ____ directed at people or objects.

the application of human or mechanical efforts

9. To differentiate their products, companies sometimes emphasize the product support services that they offer. This is especially true when

the company introduces a new product.

2. In product modification, the first issue to consider is whether

the product is modifiable.

10. Which of the following best defines nonprofit marketing?

Activities conducted by individuals and organizations to achieve some goal other than ordinary business goals such as profit or return on investment

9. An US Airways flight from Dallas to Houston was full, and the tickets were more expensive than the almost-empty US Airways flight from Chicago to Phoenix. This is an example of what kind of service pricing?

Demand-based

7. Which of the following is not a stage in the buyer's product adoption process?

Exploration

3. Julianne is planning her upcoming wedding later this year. She has made a list of all the expenses which will be required for the wedding she has planned. Which of the following is not one of the service products associated with Julianne's wedding?

Flowers for the church

1. Why are line extensions more common than new products?

They are less expensive and lower-risk.

2. Which of the following countries was the world's first service economy?

United States

2. The supply chain includes:

all entities that facilitate product distribution

1. According to the text, a product is defined as

anything the customer receives in an exchange

9. An individual moves into the adoption stage of the product adoption process at the point when he or she

begins using that specific product

10. The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.

business analysis

10. Nike maintains a good deal of control over how its products are promoted, displayed, and sold. Because of this control, Nike would be appropriately described as the channel

captain

9. When one company in a marketing channel has the ability to influence another member's goal achievement, the company has

channel power

6. Patrick is a member of a consumer marketing panel and has been introduced to a company's new idea for energy drinks. Some of the questions he has been asked are "How often would you buy this product?" and "Which features are of little or no interest to you?" Patrick is most likely participating in the ___ phase of the new-product development process.

concept testing.

8. Overall channel goals and individual channel member goals cannot be achieved together without:

cooperation

4. All members of the supply chain should determine their position in the chain, identify their partners and their roles, and establish partnerships whose focus is

customer relationships

10. Weyerhaeuser is evaluating its complete product mix. It wishes to decrease some of its marketing expenditures and streamline its product offerings. Weyerhaeuser will most likely look at products in the ____ stage of the product life cycle as possibilities for elimination.

decline

8. The marketing channels for services are usually

direct from provider to customer.

5. A marketing channel is defined as a group of individuals and organizations that

directs the flow of products from producers to customers

5. All of the following are major steps in developing new products except

evaluation of competitors' efforts.

3. Changes that affect a product's versatility, effectiveness, convenience, or safety are called ____ modifications.

functional

4. Services have six basic characteristics: intangibility, inseparability of production and consumption, perishability, client-based relationships, customer contact,

heterogeneity

8. Depending on the length of time it takes them to adopt a new product, people can be divided into five major adopter categories: early adopters, early majority, late majority, laggards, and

innovators

6. The four major stages of a product life cycle include

introduction, growth, maturity, and decline

5. The width of a product mix is measured by the number of product

lines a company offers

4. Sara Lee Corporation manufactures desserts, breads, pantyhose, meats, and a variety of other products. These products make up Sara Lee's product

mix