Question 1

As the production manager of an engineering firm, you went out and bought a metal cutting machine. What you have purchased can best be classified as a

Accepted Answer

A) raw material. 
B) processed component. 
C) component part. 
D) service. 
E) business product. 
A) raw material. 
B) processed component. 
C) component part. 
D) service. 
E) business product.

Question 2

Intuitiv Manufacturing's large plastics molding machine suddenly broke down during its day shift. When considering the purchase of available alternatives, Intiutiv decided to rent one for the next two years instead of buying one. In this situation, the large plastics molding machine it rented would be classified as

Accepted Answer

A) an installation. 
B) accessory equipment. 
C) an unsought good. 
D) a process material. 
E) MRO supplies. 
A) an installation. 
B) accessory equipment. 
C) an unsought good. 
D) a process material. 
E) MRO supplies.

Question 3

Brain Games, Inc. is a marketing research company which markets primarily to consumer products organizations. Brain Games provides products that are most likely considered

Accepted Answer

A) component parts. 
B) MRO supplies. 
C) process ideas. 
D) business services. 
E) installations. 
A) component parts. 
B) MRO supplies. 
C) process ideas. 
D) business services. 
E) installations.

Question 4

Promotion decreases in importance during a product's decline stage.

Accepted Answer

A) True 
 B)False

Question 5

During the introduction stage of a successful product, profits are usually

Accepted Answer

A) at their highest point. 
B) negative and decreasing. 
C) negative and increasing. 
D) positive and increasing. 
E) declining. 
A) at their highest point. 
B) negative and decreasing. 
C) negative and increasing. 
D) positive and increasing. 
E) declining.

Question 6

Distinguish between consumer products and business products.

Accepted Answer

The answer of Distinguish between consumer products and business products....

Question 7

Which of the following tactics would typically be employed when a product is in the growth stage of its life cycle?

Accepted Answer

A) Lowering prices after developmental costs have been recovered 
B) Raising promotion expenditures as a percentage of total sales 
C) Moving from intensive to selective distribution 
D) Raising prices to encourage competitors to enter the market 
E) Reducing the number of product models in the product line 
A) Lowering prices after developmental costs have been recovered 
B) Raising promotion expenditures as a percentage of total sales 
C) Moving from intensive to selective distribution 
D) Raising prices to encourage competitors to enter the market 
E) Reducing the number of product models in the product line

Question 8

If a company repositions a relative product failure, that product might become a successful member of the product line.

Accepted Answer

A) True 
 B)False

Question 9

What major changes in a marketing strategy may be required as a product moves into the maturity stage of the product life cycle?

Accepted Answer

The answer of What major changes in a marketing strategy...

Question 10

Nick Arnold's Auto Towing Service would best be described as a(n) ____ product.

Accepted Answer

A) convenience 
B) unsought 
C) specialty 
D) durable 
E) shopping 
A) convenience 
B) unsought 
C) specialty 
D) durable 
E) shopping

Question 11

During the growth stage, promotion costs rise as a percentage of total sales.

Accepted Answer

A) True 
 B)False

Question 12

Profits decline in the maturity stage, largely because of increased competition.

Accepted Answer

A) True 
 B)False

Question 13

Discuss the marketing efforts that are likely to be used during the growth stage of the product life cycle.

Accepted Answer

The answer of Discuss the marketing efforts that are likely...

Question 14

Dannon Yogurt represents what type of product for most consumers?

Accepted Answer

A) Convenience 
B) Business 
C) Shopping 
D) Specialty 
E) Durable 
A) Convenience 
B) Business 
C) Shopping 
D) Specialty 
E) Durable

Question 15

Which of the following is always used to determine the classification of a good?

Accepted Answer

A) Buyer's intent for using the product 
B) Amount of shopping required by the buyer to obtain the product 
C) Price of the product 
D) Specific product features 
E) Industry competitors 
A) Buyer's intent for using the product 
B) Amount of shopping required by the buyer to obtain the product 
C) Price of the product 
D) Specific product features 
E) Industry competitors

Question 16

The makers of Tide Detergent recently created "pods" of the product, characterized by a small, square, plastic-wrapped packet that was easier to use. Since it is packaged in these square pods, it requires no measuring and can be transported more easily if one is carrying clothes to a laundromat. This change in packaging is a strategy that can most likely help boost sales in the ____ stage of the product life cycle.

Accepted Answer

A) maturity 
B) growth 
C) introduction 
D) market reduction 
E) decline 
A) maturity 
B) growth 
C) introduction 
D) market reduction 
E) decline

Question 17

Following a consistent customer-focused plan does not help new products become successful.

Accepted Answer

A) True 
 B)False

Question 18

Shopping products have a ____ inventory turnover and need ____ distribution outlets than convenience goods.

Accepted Answer

A) similar; more 
B) higher; fewer 
C) higher; more 
D) lower; more 
E) lower; fewer 
A) similar; more 
B) higher; fewer 
C) higher; more 
D) lower; more 
E) lower; fewer

Question 19

Strategies relating to price become more mixed during a product's maturity stage.

Accepted Answer

A) True 
 B)False

Question 20

A product line is defined as

Accepted Answer

A) products that can be designated as a unique offering among the organization's products. 
B) products that an organization makes available to consumers. 
C) a group of closely related products that are considered a unit because of marketing, technical, or end-use considerations. 
D) a specific group of products that are offered to the market. 
E) products that are sold by the same firm or a division of a firm. 
A) products that can be designated as a unique offering among the organization's products. 
B) products that an organization makes available to consumers. 
C) a group of closely related products that are considered a unit because of marketing, technical, or end-use considerations. 
D) a specific group of products that are offered to the market. 
E) products that are sold by the same firm or a division of a firm.

As the production manager of an engineering firm, you went out and bought a metal cutting machine. What you have purchased can best be classified as a

Brain Games, Inc. is a marketing research company which markets primarily to consumer products organizations. Brain Games provides products that are most likely considered

Promotion decreases in importance during a product's decline stage.

During the introduction stage of a successful product, profits are usually

Distinguish between consumer products and business products.

Which of the following tactics would typically be employed when a product is in the growth stage of its life cycle?

If a company repositions a relative product failure, that product might become a successful member of the product line.

What major changes in a marketing strategy may be required as a product moves into the maturity stage of the product life cycle?

Nick Arnold's Auto Towing Service would best be described as a(n) ____ product.

During the growth stage, promotion costs rise as a percentage of total sales.

Profits decline in the maturity stage, largely because of increased competition.

Discuss the marketing efforts that are likely to be used during the growth stage of the product life cycle.

Dannon Yogurt represents what type of product for most consumers?

Which of the following is always used to determine the classification of a good?

Following a consistent customer-focused plan does not help new products become successful.

Shopping products have a inventory turnover and need distribution outlets than convenience goods.

Strategies relating to price become more mixed during a product's maturity stage.

A product line is defined as

An Overview of Strategic Marketing

Planning Implementing and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets: Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Developing and Managing Products

Services Marketing

Branding and Packaging

Marketing Channels and Supply Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters

Exam 11: Product Concepts

As the production manager of an engineering firm, you went out and bought a metal cutting machine. What you have purchased can best be classified as a

Brain Games, Inc. is a marketing research company which markets primarily to consumer products organizations. Brain Games provides products that are most likely considered

Promotion decreases in importance during a product's decline stage.

During the introduction stage of a successful product, profits are usually

Distinguish between consumer products and business products.

Which of the following tactics would typically be employed when a product is in the growth stage of its life cycle?

If a company repositions a relative product failure, that product might become a successful member of the product line.

What major changes in a marketing strategy may be required as a product moves into the maturity stage of the product life cycle?

Nick Arnold's Auto Towing Service would best be described as a(n) ____ product.

During the growth stage, promotion costs rise as a percentage of total sales.

Profits decline in the maturity stage, largely because of increased competition.

Discuss the marketing efforts that are likely to be used during the growth stage of the product life cycle.

Dannon Yogurt represents what type of product for most consumers?

Which of the following is always used to determine the classification of a good?

Following a consistent customer-focused plan does not help new products become successful.

Shopping products have a ____ inventory turnover and need ____ distribution outlets than convenience goods.

Strategies relating to price become more mixed during a product's maturity stage.

A product line is defined as

An Overview of Strategic Marketing

Planning Implementing and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets: Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Developing and Managing Products

Services Marketing

Branding and Packaging

Marketing Channels and Supply Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters

Shopping products have a inventory turnover and need distribution outlets than convenience goods.