Question 1

How can we distinguish services from goods? Give an example of how buyers can play an important role in the creation of services.

Accepted Answer

Services can be distinguished from goods

Question 2

Beaux,a clothing boutique store,specializes in high-end evening wear for women.Most of their dresses are custom-made for their elite customers.Beaux is an example of a store offering _____ products.

Accepted Answer

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

Question 3

Special Confectioners,a major chocolate company,has recently started promoting its festive packs with the tag line,"making each moment special." By doing so,the management is trying to make its customers realize the everyday relevance of their festive packs.In doing so,the company is attempting to extend the product lifecycle by:

Accepted Answer

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

Question 4

Promotional campaigns conducted by a firm during the introductory stage of a product lifecycle generally focus on:

Accepted Answer

A)  informing the market about the product and explaining its features. 
B)  reducing the size of the available market through selective advertising. 
C)  comparing the firm's product with those of competitors . 
D)  communicating new and alternate uses for the product. 
A)  informing the market about the product and explaining its features. 
B)  reducing the size of the available market through selective advertising. 
C)  comparing the firm's product with those of competitors . 
D)  communicating new and alternate uses for the product.

Question 5

A dinner at an exclusive restaurant is a pure good.

Accepted Answer

A) True 
 B)False

Question 6

Sales of a product category continue to grow during the early part of the maturity stage but-eventually reach a plateau as the backlog of potential customers dwindles.

Accepted Answer

A) True 
 B)False

Question 7

The progression of a product through introduction,growth,maturity,and decline stages is called its _____.

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 8

The decision about whether to delete products from the product line is usually faced during the late growth and early maturity phases of the product lifecycle.

Accepted Answer

A) True 
 B)False

Question 9

During the maturity stage of the product lifecycle,the industry sales curve for a product reaches a minimum point as competitors exhaust the supply of potential customers.

Accepted Answer

A) True 
 B)False

Question 10

The assortment of product lines and individual product offerings a company sells is called the _____.

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 11

Staples are convenience goods and services that consumers constantly replenish to maintain a ready inventory.

Accepted Answer

A) True 
 B)False

Question 12

Product line extension refers to the development of items that would expand the width of the product mix a company has to offer.

Accepted Answer

A) True 
 B)False

Question 13

Supermarkets usually display items such as candies,gums,and magazines near the checkout counter because:

Accepted Answer

A)  they tend to be purchased on the spur of the moment. 
B)  they can be replenished easily on short notice. 
C)  of the prestige associated with their ownership. 
D)  they are closely evaluated prior to purchase. 
A)  they tend to be purchased on the spur of the moment. 
B)  they can be replenished easily on short notice. 
C)  of the prestige associated with their ownership. 
D)  they are closely evaluated prior to purchase.

Question 14

As consumers are willing to exert considerable effort to obtain specialty products,producers can promote them through relatively few retail locations.

Accepted Answer

A) True 
 B)False

Question 15

The depth of product mix refers to the variations in each product the firm markets in its mix.

Accepted Answer

A) True 
 B)False

Question 16

Service quality refers to the expected and perceived quality of a service offering.

Accepted Answer

A) True 
 B)False

Question 17

Slotting allowances refer to money paid by producers to retailers to guarantee display of their merchandise.

Accepted Answer

A) True 
 B)False

Question 18

What is product mix? How do marketers typically measure product mix? Measure the product mix of a company you know of.

Accepted Answer

Product mix refers to an assortment of p

Question 19

Marketers acknowledge a broader conception of product; they realize that people buy want satisfaction.Using this broad concept,a television set is a(n):

Accepted Answer

A)  obsolete technology in comparison with the Internet. 
B)  means of providing entertainment. 
C)  lucrative item for appliance stores. 
D)  machine used to receive broadcast signals. 
A)  obsolete technology in comparison with the Internet. 
B)  means of providing entertainment. 
C)  lucrative item for appliance stores. 
D)  machine used to receive broadcast signals.

Question 20

Products purchased on the spur of the moment 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

Exam 12: Product and Service Strategies

How can we distinguish services from goods? Give an example of how buyers can play an important role in the creation of services.

Beaux,a clothing boutique store,specializes in high-end evening wear for women.Most of their dresses are custom-made for their elite customers.Beaux is an example of a store offering _____ products.

Promotional campaigns conducted by a firm during the introductory stage of a product lifecycle generally focus on:

A dinner at an exclusive restaurant is a pure good.

Sales of a product category continue to grow during the early part of the maturity stage but-eventually reach a plateau as the backlog of potential customers dwindles.

The progression of a product through introduction,growth,maturity,and decline stages is called its _____.

The decision about whether to delete products from the product line is usually faced during the late growth and early maturity phases of the product lifecycle.

During the maturity stage of the product lifecycle,the industry sales curve for a product reaches a minimum point as competitors exhaust the supply of potential customers.

The assortment of product lines and individual product offerings a company sells is called the _____.

Staples are convenience goods and services that consumers constantly replenish to maintain a ready inventory.

Product line extension refers to the development of items that would expand the width of the product mix a company has to offer.

Supermarkets usually display items such as candies,gums,and magazines near the checkout counter because:

As consumers are willing to exert considerable effort to obtain specialty products,producers can promote them through relatively few retail locations.

The depth of product mix refers to the variations in each product the firm markets in its mix.

Service quality refers to the expected and perceived quality of a service offering.

Slotting allowances refer to money paid by producers to retailers to guarantee display of their merchandise.

What is product mix? How do marketers typically measure product mix? Measure the product mix of a company you know of.

Marketers acknowledge a broader conception of product; they realize that people buy want satisfaction.Using this broad concept,a television set is a(n):

Products purchased on the spur of the moment are called _____.

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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