Question 1

Which of the following consists of intangible products that firms buy to facilitate their production and operating processes?

Accepted Answer

A)  Installations 
B)  Accessories 
C)  Business services 
D)  Operating supplies 
A)  Installations 
B)  Accessories 
C)  Business services 
D)  Operating supplies

Question 2

Describe the three categories of supplies.

Accepted Answer

The three categories of supplies are:
1)

Question 3

Buyers rarely play any role in the creation and distribution of services.

Accepted Answer

A) True 
 B)False

Question 4

Homeshoring enables firms to save on office space,furnishings,and supplies.

Accepted Answer

A) True 
 B)False

Question 5

The convenience goods and services that consumers constantly replenish to maintain a ready inventory are called _____.

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

Define Total Quality Management (TQM)and ISO 9001:2008.Give examples of some companies that you know of as certified by ISO.

Accepted Answer

Total Quality Management (TQM)refers to

Question 7

Products marketed to consumers who may not yet recognize a need for them are called _____ products.

Accepted Answer

A)  unsought 
B)  impulse 
C)  convenience 
D)  specialty 
A)  unsought 
B)  impulse 
C)  convenience 
D)  specialty

Question 8

The motivations for marketing complete product lines include the desire to grow,enhancing the company's position in the market,optimal use of company resources,and exploiting the product lifecycle.

Accepted Answer

A) True 
 B)False

Question 9

Convenience products that customers constantly replenish to maintain a ready inventory are categorized as:

Accepted Answer

A)  staples. 
B)  impulse goods. 
C)  emergency goods. 
D)  shopping products. 
A)  staples. 
B)  impulse goods. 
C)  emergency goods. 
D)  shopping products.

Question 10

Define benchmarking.Describe the benchmarking process.

Accepted Answer

Benchmarking is a method of measuring qu

Question 11

Benchmarking is the method of measuring quality by comparing performance against industry leaders.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following variables of service quality best represents the readiness to serve one's customers?

Accepted Answer

A)  Tangibles 
B)  Assurances 
C)  Responsiveness 
D)  Empathy 
A)  Tangibles 
B)  Assurances 
C)  Responsiveness 
D)  Empathy

Question 13

Advertising is an important component in the marketing mix for accessory equipments.

Accepted Answer

A) True 
 B)False

Question 14

Ryan,a successful entrepreneur,is planning to get into the petroleum business.He has bought two jack-up rigs running into millions of dollars to start the business.These rigs are examples of:

Accepted Answer

A)  installations. 
B)  accessory equipments. 
C)  supplies. 
D)  component parts. 
A)  installations. 
B)  accessory equipments. 
C)  supplies. 
D)  component parts.

Question 15

Internet security software that requires periodic updates and annual product upgrades is considered a pure service on the goods-services continuum.

Accepted Answer

A) True 
 B)False

Question 16

Bubbles,a major player in the beverage industry,is currently negotiating the purchase of a purification plant and a bottling unit.This is an important investment for Bubbles and the products have been designed specifically for them.Which of the following types of products is being purchased by Bubbles?

Accepted Answer

A)  Accessory equipments 
B)  Installations 
C)  Component parts and materials 
D)  Supplies 
A)  Accessory equipments 
B)  Installations 
C)  Component parts and materials 
D)  Supplies

Question 17

In the context of business products,office stationery will fall under the category of:

Accepted Answer

A)  installations. 
B)  shopping products. 
C)  supplies. 
D)  accessory equipments. 
A)  installations. 
B)  shopping products. 
C)  supplies. 
D)  accessory equipments.

Question 18

A company manufacturing hair care products introduced a new shampoo with keratin to enhance hair quality and reduce hair breakage.To ensure the right spot for the shampoo bottles on the supermarket shelves,the company paid retailers a substantial amount of money.The money paid is called:

Accepted Answer

A)  push money. 
B)  rebate. 
C)  premium. 
D)  slotting fees. 
A)  push money. 
B)  rebate. 
C)  premium. 
D)  slotting fees.

Question 19

Zara Inc.,a well-known cosmetics manufacturer,introduced its anti-wrinkle cream in the Asian market after its sales in the European market leveled out due to stiff competition from rival products.This is an attempt to extend product lifecycle by:

Accepted Answer

A)  increasing the frequency of use. 
B)  increasing the number of users. 
C)  finding new uses. 
D)  changing product quality. 
A)  increasing the frequency of use. 
B)  increasing the number of users. 
C)  finding new uses. 
D)  changing product quality.

Question 20

Hershey's introduction of a sugar-free version of its candy bar is an example of line extension.

Accepted Answer

A) True 
 B)False

Exam 12: Product and Service Strategies

Which of the following consists of intangible products that firms buy to facilitate their production and operating processes?

Describe the three categories of supplies.

Buyers rarely play any role in the creation and distribution of services.

Homeshoring enables firms to save on office space,furnishings,and supplies.

The convenience goods and services that consumers constantly replenish to maintain a ready inventory are called _____.

Define Total Quality Management (TQM)and ISO 9001:2008.Give examples of some companies that you know of as certified by ISO.

Products marketed to consumers who may not yet recognize a need for them are called _____ products.

The motivations for marketing complete product lines include the desire to grow,enhancing the company's position in the market,optimal use of company resources,and exploiting the product lifecycle.

Convenience products that customers constantly replenish to maintain a ready inventory are categorized as:

Define benchmarking.Describe the benchmarking process.

Benchmarking is the method of measuring quality by comparing performance against industry leaders.

Which of the following variables of service quality best represents the readiness to serve one's customers?

Advertising is an important component in the marketing mix for accessory equipments.

Ryan,a successful entrepreneur,is planning to get into the petroleum business.He has bought two jack-up rigs running into millions of dollars to start the business.These rigs are examples of:

Internet security software that requires periodic updates and annual product upgrades is considered a pure service on the goods-services continuum.

In the context of business products,office stationery will fall under the category of:

A company manufacturing hair care products introduced a new shampoo with keratin to enhance hair quality and reduce hair breakage.To ensure the right spot for the shampoo bottles on the supermarket shelves,the company paid retailers a substantial amount of money.The money paid is called:

Zara Inc.,a well-known cosmetics manufacturer,introduced its anti-wrinkle cream in the Asian market after its sales in the European market leveled out due to stiff competition from rival products.This is an attempt to extend product lifecycle by:

Hershey's introduction of a sugar-free version of its candy bar is an example of line extension.

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

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Your Career in Marketing

Developing an Effective Marketing Plan

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