Question 1

Wax used by a candle company for making candles would most likely be classified as _____ goods.

Accepted Answer

A) production 
B) specialty 
C) support 
D) convenience 
A) production 
B) specialty 
C) support 
D) convenience

Question 2

The inventory of goods is more complex than that of services.

Accepted Answer

A) True 
 B)False

Question 3

In terms of promotion, which of the following types of goods stress the status and uniqueness of the brand?

Accepted Answer

A) shopping products 
B) convenience products 
C) specialty products 
D) unsought products 
A) shopping products 
B) convenience products 
C) specialty products 
D) unsought products

Question 4

Intangibility of service means that the:

Accepted Answer

A) value of the service provided can only be determined using subjective criteria. 
B) service can't be held, seen, or touched before the purchase decision. 
C) service cannot be described, it can only be experienced. 
D) quantity of the service received can vary every time. 
A) value of the service provided can only be determined using subjective criteria. 
B) service can't be held, seen, or touched before the purchase decision. 
C) service cannot be described, it can only be experienced. 
D) quantity of the service received can vary every time.

Question 5

With respect to price, which of the following types of consumer products would most likely be very expensive?

Accepted Answer

A) convenience goods 
B) shopping goods 
C) specialty goods 
D) unsought goods 
A) convenience goods 
B) shopping goods 
C) specialty goods 
D) unsought goods

Question 6

In terms of brand loyalty, consumers are very brand loyal and will not accept substitutes for _____ products.

Accepted Answer

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

Question 7

Why is selecting a brand name an important factor in the marketing of a product? What legal step(s) should be taken to protect the uniqueness of the brand name?

Accepted Answer

A brand is a name or phrase uniquely giv

Question 8

Services:

Accepted Answer

A) represent tangible activities or benefits provided to consumers in exchange for money or some other value. 
B) refer to intangible activities, benefits, or satisfactions offered for sale. 
C) cannot be stored and accessed at a later date. 
D) include any activity, either tangible or intangible, provided by an organization in exchange for monetary remuneration. 
A) represent tangible activities or benefits provided to consumers in exchange for money or some other value. 
B) refer to intangible activities, benefits, or satisfactions offered for sale. 
C) cannot be stored and accessed at a later date. 
D) include any activity, either tangible or intangible, provided by an organization in exchange for monetary remuneration.

Question 9

Brand equity is:

Accepted Answer

A) the resources invested to create a name, phrase, design, symbol, or combination of these to identify a firm's products and distinguish them from those of its competitors. 
B) adding customer value to the product brand through additional features or higher-quality materials, or reducing its price. 
C) the value of a brand that results from the favourable exposure, interactions, associations, and experiences that consumers have with a brand over time. 
D) the net present value of the royalties the firm receives as a result of licensing its brand to other firms to manufacture and/or market. 
A) the resources invested to create a name, phrase, design, symbol, or combination of these to identify a firm's products and distinguish them from those of its competitors. 
B) adding customer value to the product brand through additional features or higher-quality materials, or reducing its price. 
C) the value of a brand that results from the favourable exposure, interactions, associations, and experiences that consumers have with a brand over time. 
D) the net present value of the royalties the firm receives as a result of licensing its brand to other firms to manufacture and/or market.

Question 10

Supplies include tools and office equipment and are usually purchased in small-order sizes by buyers.

Accepted Answer

A) True 
 B)False

Question 11

A situation when the supply of service exceeds its demand is referred to as _____.

Accepted Answer

A) off-peak pricing 
B) idle production capacity 
C) inverse demand 
D) excess demand 
A) off-peak pricing 
B) idle production capacity 
C) inverse demand 
D) excess demand

Question 12

______ refers to a situation where a company uses the same brand name across a variety of product categories

Accepted Answer

A) Family brand 
B) Individual brand 
C) Private label brand 
D) Generica brand 
A) Family brand 
B) Individual brand 
C) Private label brand 
D) Generica brand

Question 13

Which type of consumer good is purchased infrequently and takes an extensive amount of time to make the purchase decision and obtain the item?

Accepted Answer

A) convenience products 
B) shopping products 
C) specialty products 
D) unsought products 
A) convenience products 
B) shopping products 
C) specialty products 
D) unsought products

Question 14

Banking, conducting an online search, visiting a doctor, taking a vacation, going to a movie, and taking an online course are examples of durable goods.

Accepted Answer

A) True 
 B)False

Question 15

Inconsistency in services refers to the fact that:

Accepted Answer

A) there is no regulation of service industries in terms of basic standards of quality. 
B) the quality of service provided by a firm is often inconsistent with its image. 
C) the performance of one employee may vary from that of another employee. 
D) the services cannot be stored for long periods of time for use at a later date. 
A) there is no regulation of service industries in terms of basic standards of quality. 
B) the quality of service provided by a firm is often inconsistent with its image. 
C) the performance of one employee may vary from that of another employee. 
D) the services cannot be stored for long periods of time for use at a later date.

Question 16

In marketing, a product refers _____.

Accepted Answer

A) to a good, service, or idea 
B) to a market decision 
C) to a market factor 
D) only to tangible goods 
A) to a good, service, or idea 
B) to a market decision 
C) to a market factor 
D) only to tangible goods

Question 17

Private label branding is a:

Accepted Answer

A) branding strategy that involves giving each product a distinct name. 
B) strategy where products are given no identifying names other than a description of its contents. 
C) branding strategy in which a company uses one name for all of its products. 
D) branding strategy in which manufacturers produce products that are sold under the brand name of a wholesaler or retailer. 
A) branding strategy that involves giving each product a distinct name. 
B) strategy where products are given no identifying names other than a description of its contents. 
C) branding strategy in which a company uses one name for all of its products. 
D) branding strategy in which manufacturers produce products that are sold under the brand name of a wholesaler or retailer.

Question 18

Sales of business products are directly related to the sales of products with which they are associated.

Accepted Answer

A) True 
 B)False

Question 19

Lolly Inc., a chocolate manufacturer, sells Do-Nuts, Snackers, Hi-Lite, Milk All The Way, and Cocoa-Hi.This variety of names is typical of a(n) _____ strategy.

Accepted Answer

A) co-branding 
B) individual branding 
C) family branding 
D) mixed branding 
A) co-branding 
B) individual branding 
C) family branding 
D) mixed branding

Question 20

A large machine for producing sheet metal from steel ingots would be classified as _____.

Accepted Answer

A) installations 
B) production goods 
C) supplies 
D) accessory equipment 
A) installations 
B) production goods 
C) supplies 
D) accessory equipment

Wax used by a candle company for making candles would most likely be classified as _____ goods.

The inventory of goods is more complex than that of services.

In terms of promotion, which of the following types of goods stress the status and uniqueness of the brand?

Intangibility of service means that the:

With respect to price, which of the following types of consumer products would most likely be very expensive?

In terms of brand loyalty, consumers are very brand loyal and will not accept substitutes for _____ products.

Why is selecting a brand name an important factor in the marketing of a product? What legal step(s) should be taken to protect the uniqueness of the brand name?

Services:

Brand equity is:

Supplies include tools and office equipment and are usually purchased in small-order sizes by buyers.

A situation when the supply of service exceeds its demand is referred to as _____.

______ refers to a situation where a company uses the same brand name across a variety of product categories

Which type of consumer good is purchased infrequently and takes an extensive amount of time to make the purchase decision and obtain the item?

Banking, conducting an online search, visiting a doctor, taking a vacation, going to a movie, and taking an online course are examples of durable goods.

Inconsistency in services refers to the fact that:

In marketing, a product refers _____.

Private label branding is a:

Sales of business products are directly related to the sales of products with which they are associated.

Lolly Inc., a chocolate manufacturer, sells Do-Nuts, Snackers, Hi-Lite, Milk All The Way, and Cocoa-Hi.This variety of names is typical of a(n) _____ strategy.

A large machine for producing sheet metal from steel ingots would be classified as _____.

Marketing Fundamentals

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

B2B Marketing

Segmentation Targeting and Positioning

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters

Exam 7: Products and Brands

Wax used by a candle company for making candles would most likely be classified as _____ goods.

The inventory of goods is more complex than that of services.

In terms of promotion, which of the following types of goods stress the status and uniqueness of the brand?

Intangibility of service means that the:

With respect to price, which of the following types of consumer products would most likely be very expensive?

In terms of brand loyalty, consumers are very brand loyal and will not accept substitutes for _____ products.

Why is selecting a brand name an important factor in the marketing of a product? What legal step(s) should be taken to protect the uniqueness of the brand name?

Services:

Brand equity is:

Supplies include tools and office equipment and are usually purchased in small-order sizes by buyers.

A situation when the supply of service exceeds its demand is referred to as _____.

______ refers to a situation where a company uses the same brand name across a variety of product categories

Which type of consumer good is purchased infrequently and takes an extensive amount of time to make the purchase decision and obtain the item?

Banking, conducting an online search, visiting a doctor, taking a vacation, going to a movie, and taking an online course are examples of durable goods.

Inconsistency in services refers to the fact that:

In marketing, a product refers _____.

Private label branding is a:

Sales of business products are directly related to the sales of products with which they are associated.

Lolly Inc., a chocolate manufacturer, sells Do-Nuts, Snackers, Hi-Lite, Milk All The Way, and Cocoa-Hi.This variety of names is typical of a(n) _____ strategy.

A large machine for producing sheet metal from steel ingots would be classified as _____.

Marketing Fundamentals

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

B2B Marketing

Segmentation Targeting and Positioning

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters