Question 1

The length of a product mix refers to the number of different products a firm sells.

Accepted Answer

A) True 
 B)False

Question 2

Define product.How do marketers perceive products?

Accepted Answer

A product is a bundle of physical,servic

Question 3

The products whose lifecycles can be extended or stretched indefinitely are referred to as orphan brands.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is true of specialty products?

Accepted Answer

A)  Purchasers are usually bargain hunters who are not willing to pay much. 
B)  Purchasers begin shopping with complete information of the desired product. 
C)  Purchasers tend to exert minimal effort to obtain the desired product. 
D)  Purchasers generally accept substitutes if the desired product is unavailable. 
A)  Purchasers are usually bargain hunters who are not willing to pay much. 
B)  Purchasers begin shopping with complete information of the desired product. 
C)  Purchasers tend to exert minimal effort to obtain the desired product. 
D)  Purchasers generally accept substitutes if the desired product is unavailable.

Question 5

Development of individual offerings that appeal to different market segments while remaining closely related to the existing product line is referred to as _____.

Accepted Answer

A) marketing mix 
B) specialty products 
C) product 
D) services 
E) convenience products
F)impulse goods
G)installations
H)wholesalers
I)business-to-business (B2
B) 
J)supplies
K)emergency goods
L)shopping products
M)component parts and materials
N)staples
O)product mix
P)product line
Q)line extension
R)total quality management
S)product lifecycle
T)benchmarking 
A) marketing mix 
B) specialty products 
C) product 
D) services 
E) convenience products
F)impulse goods
G)installations
H)wholesalers
I)business-to-business (B2
B) 
J)supplies
K)emergency goods
L)shopping products
M)component parts and materials
N)staples
O)product mix
P)product line
Q)line extension
R)total quality management
S)product lifecycle
T)benchmarking

Question 6

The trend of backshoring,firms returning their offshore work to the U.S.,is growing.

Accepted Answer

A) True 
 B)False

Question 7

In the maturity stage of a product lifecycle,differences between competing products diminish as competitors discover the product and promotional characteristics most desired by customers.

Accepted Answer

A) True 
 B)False

Question 8

Johnson & Johnson manufactures more than 100 brands in nearly 50 product categories.The total number of products they manufacture represents the _____ of its product mix.

Accepted Answer

A)  length 
B)  depth 
C)  consistency 
D)  width 
A)  length 
B)  depth 
C)  consistency 
D)  width

Question 9

The Malcolm Baldrige National Quality Award is the highest national recognition for quality a U.S.company can receive.

Accepted Answer

A) True 
 B)False

Question 10

Fresh,a company that manufactures personal care products such as soaps and shampoos,decides to produce and market dishwashing liquid and cleaners.This decision of the company represents:

Accepted Answer

A)  an increase in product mix depth. 
B)  an increase in product mix width. 
C)  an increase in the product mix consistency. 
D)  an increase in the product lifecycle. 
A)  an increase in product mix depth. 
B)  an increase in product mix width. 
C)  an increase in the product mix consistency. 
D)  an increase in the product lifecycle.

Question 11

Consumer goods such as soap,milk,and deodorants are generally classified as _____ products.

Accepted Answer

A)  convenience 
B)  utilitarian 
C)  shopping 
D)  specialty 
A)  convenience 
B)  utilitarian 
C)  shopping 
D)  specialty

Question 12

Installations are major capital investments in the B2B markets and they are often designed specifically for the purchasers.

Accepted Answer

A) True 
 B)False

Question 13

Marketing accessory equipments requires continuous representation and dealing with the widespread geographic dispersion of purchasers.

Accepted Answer

A) True 
 B)False

Question 14

A series of related products offered by one company is called a product _____.

Accepted Answer

A)  cluster 
B)  subgroup 
C)  line 
D)  pack 
A)  cluster 
B)  subgroup 
C)  line 
D)  pack

Question 15

Although the United States runs a continuing trade deficit in services,it has maintained a trade surplus in goods since 1992.

Accepted Answer

A) True 
 B)False

Question 16

Explain the importance of the service sector in the U.S.economy.

Accepted Answer

The service sector makes a crucial contr

Question 17

When shifts in consumer preferences bring about an absolute slump in industry sales,a product is said to be in the _____ stage of the product lifecycle.

Accepted Answer

A)  introductory 
B)  growth 
C)  maturation 
D)  decline 
A)  introductory 
B)  growth 
C)  maturation 
D)  decline

Question 18

Natural resources,farm produce and lumber constitute _____.

Accepted Answer

A)  raw materials 
B)  accessory equipments 
C)  component parts and materials 
D)  installations 
A)  raw materials 
B)  accessory equipments 
C)  component parts and materials 
D)  installations

Question 19

Using the consumer products classification system,which of the following is true of the marketing mix factors for a convenience product?

Accepted Answer

A)  It is generally high priced. 
B)  The seller's image is very important. 
C)  It has a long distribution channel. 
D)  Its number of sales outlets tends to be very few. 
A)  It is generally high priced. 
B)  The seller's image is very important. 
C)  It has a long distribution channel. 
D)  Its number of sales outlets tends to be very few.

Question 20

The number of product lines a firm offers is referred to as the _____ of its product mix.

Accepted Answer

A)  depth 
B)  width 
C)  volume 
D)  length 
A)  depth 
B)  width 
C)  volume 
D)  length

Exam 12: Product and Service Strategies

The length of a product mix refers to the number of different products a firm sells.

Define product.How do marketers perceive products?

The products whose lifecycles can be extended or stretched indefinitely are referred to as orphan brands.

Which of the following is true of specialty products?

Development of individual offerings that appeal to different market segments while remaining closely related to the existing product line is referred to as _____.

The trend of backshoring,firms returning their offshore work to the U.S.,is growing.

In the maturity stage of a product lifecycle,differences between competing products diminish as competitors discover the product and promotional characteristics most desired by customers.

Johnson & Johnson manufactures more than 100 brands in nearly 50 product categories.The total number of products they manufacture represents the _____ of its product mix.

The Malcolm Baldrige National Quality Award is the highest national recognition for quality a U.S.company can receive.

Fresh,a company that manufactures personal care products such as soaps and shampoos,decides to produce and market dishwashing liquid and cleaners.This decision of the company represents:

Consumer goods such as soap,milk,and deodorants are generally classified as _____ products.

Installations are major capital investments in the B2B markets and they are often designed specifically for the purchasers.

Marketing accessory equipments requires continuous representation and dealing with the widespread geographic dispersion of purchasers.

A series of related products offered by one company is called a product _____.

Although the United States runs a continuing trade deficit in services,it has maintained a trade surplus in goods since 1992.

Explain the importance of the service sector in the U.S.economy.

When shifts in consumer preferences bring about an absolute slump in industry sales,a product is said to be in the _____ stage of the product lifecycle.

Natural resources,farm produce and lumber constitute _____.

Using the consumer products classification system,which of the following is true of the marketing mix factors for a convenience product?

The number of product lines a firm offers is referred to as the _____ of its product mix.

Marketing: The Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-to-Business (B2B)Marketing

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research and Sales Forecasting

Relationship Marketing and Customer Relationship Management (CRM)

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Your Career in Marketing

Developing an Effective Marketing Plan

Financial Analysis in Marketing

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