Question 1

Internal analysis involves gathering information about the benchmark partner to find out why the partner is perceived as the industry's best.

Accepted Answer

A) True 
 B)False

Question 2

Why is marketing perceived as a significant activity by most service firms?

Accepted Answer

Most service firms emphasize marketing a

Question 3

The classification system for business products emphasizes customer buying behavior rather than product uses.

Accepted Answer

A) True 
 B)False

Question 4

When a manufacturer of vinegar,ordinarily used as a food ingredient,promotes its use as a metal cleaner,the manufacturer is attempting to extend the product's lifecycle by changing its package.

Accepted Answer

A) True 
 B)False

Question 5

For a past few months H&S Products has been involved in intensive price competition with its competitors for one of its products.A shift in consumer preferences is resulting in a decrease in sales.Profits are low and market researchers are concerned that losses will soon occur due to a decrease in the size of the market for the product.This product appears to have reached the _____ stage of the product lifecycle.

Accepted Answer

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

Question 6

Most fads experience short-lived popularity and then quickly fade,although some maintain residual markets among certain segments.

Accepted Answer

A) True 
 B)False

Question 7

SUVs produced by different automobile companies constitute a single product line.

Accepted Answer

A) True 
 B)False

Question 8

Using the consumer products classification system,which of the following is most likely to be true of the consumer factors for convenience products?

Accepted Answer

A) Consumers tend to purchase convenience products frequently. 
B) Consumers tend to plan extensively before a purchase. 
C) Consumers tend to regard convenience of location as unimportant. 
D) Consumers tend to compare price and quality between competing products. 
A) Consumers tend to purchase convenience products frequently. 
B) Consumers tend to plan extensively before a purchase. 
C) Consumers tend to regard convenience of location as unimportant. 
D) Consumers tend to compare price and quality between competing products.

Question 9

You are a rising star in the purchasing department at your company and you have recently been promoted to manager of business services procurement.As your title suggests,you will be responsible for purchasing business services for your firm. Required:
Which of the following statements is true regarding your new role?​

Accepted Answer

A) ​You will be purchasing raw materials. 
B) ​You will be purchasing MRO supplies. 
C) ​You will be purchasing component parts. 
D) ​You will be purchasing janitorial services. 
E) ​You will be purchasing process materials. 
A) ​You will be purchasing raw materials. 
B) ​You will be purchasing MRO supplies. 
C) ​You will be purchasing component parts. 
D) ​You will be purchasing janitorial services. 
E) ​You will be purchasing process materials.

Question 10

​Technology is changing consumer behavior in a variety of ways such as the adoption of streaming services such as Netflix.Netflix faces increasing competition from Amazon and Hulu Plus as well as satellite and cable companies who offer video on demand.Netflix has experienced rapid adoption by consumers but the entrance of competition is creating challenges for Netflix to remain dominant.What stage of the product life cycle best describes Netflix?

Accepted Answer

A) ​growth 
B) ​introduction 
C) ​maturity 
D) ​decline 
A) ​growth 
B) ​introduction 
C) ​maturity 
D) ​decline

Question 11

Restaurant chains often use the same room decor and dining menu at all their locations in an attempt to standardize the services they offer.

Accepted Answer

A) True 
 B)False

Question 12

A college education is an example of a pure product on the goods-services continuum.

Accepted Answer

A) True 
 B)False

Question 13

In the context of the business products classification system,which of the following group of products is typically promoted through advertisements rather than through personal selling?

Accepted Answer

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

Question 14

​When Sara developed a headache due to stress just before an important sales presentation,she quickly bought a pain reliever from a nearby pharmacy.This is an example of buying a(n)

Accepted Answer

A) shopping product 
B) emergency good 
C) staple 
D) impulse good 
A) shopping product 
B) emergency good 
C) staple 
D) impulse good

Question 15

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 16

Match each item with the correct statement below.
-Finished business products of one producer that become part of the final products of another producer 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 17

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 18

Which of the following terms refers to the specialty products of the business market?

Accepted Answer

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

Question 19

Mobile computer tablets were introduced a few years ago.Due to its increasing popularity and high profit levels,the number of companies making these tablets has increased.At the same time,differentiated products for different market segments have begun to emerge.Mobile computer tablets appear to be in the _____ stage of the product lifecycle.

Accepted Answer

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

Question 20

A dentist provides pure service.

Accepted Answer

A) True 
 B)False

Internal analysis involves gathering information about the benchmark partner to find out why the partner is perceived as the industry's best.

Why is marketing perceived as a significant activity by most service firms?

The classification system for business products emphasizes customer buying behavior rather than product uses.

When a manufacturer of vinegar,ordinarily used as a food ingredient,promotes its use as a metal cleaner,the manufacturer is attempting to extend the product's lifecycle by changing its package.

Most fads experience short-lived popularity and then quickly fade,although some maintain residual markets among certain segments.

SUVs produced by different automobile companies constitute a single product line.

Using the consumer products classification system,which of the following is most likely to be true of the consumer factors for convenience products?

Restaurant chains often use the same room decor and dining menu at all their locations in an attempt to standardize the services they offer.

A college education is an example of a pure product on the goods-services continuum.

In the context of the business products classification system,which of the following group of products is typically promoted through advertisements rather than through personal selling?

When Sara developed a headache due to stress just before an important sales presentation,she quickly bought a pain reliever from a nearby pharmacy.This is an example of buying a(n)

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

Match each item with the correct statement below. -Finished business products of one producer that become part of the final products of another producer are called _____.

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

Which of the following terms refers to the specialty products of the business market?

A dentist provides pure service.

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 B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

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

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Exam 12: Product and Service Strategies

Internal analysis involves gathering information about the benchmark partner to find out why the partner is perceived as the industry's best.

Why is marketing perceived as a significant activity by most service firms?

The classification system for business products emphasizes customer buying behavior rather than product uses.

When a manufacturer of vinegar,ordinarily used as a food ingredient,promotes its use as a metal cleaner,the manufacturer is attempting to extend the product's lifecycle by changing its package.

Most fads experience short-lived popularity and then quickly fade,although some maintain residual markets among certain segments.

SUVs produced by different automobile companies constitute a single product line.

Using the consumer products classification system,which of the following is most likely to be true of the consumer factors for convenience products?

Restaurant chains often use the same room decor and dining menu at all their locations in an attempt to standardize the services they offer.

A college education is an example of a pure product on the goods-services continuum.

In the context of the business products classification system,which of the following group of products is typically promoted through advertisements rather than through personal selling?

​When Sara developed a headache due to stress just before an important sales presentation,she quickly bought a pain reliever from a nearby pharmacy.This is an example of buying a(n)

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

Match each item with the correct statement below. -Finished business products of one producer that become part of the final products of another producer are called _____.

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

Which of the following terms refers to the specialty products of the business market?

A dentist provides pure service.

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 B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

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

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

When Sara developed a headache due to stress just before an important sales presentation,she quickly bought a pain reliever from a nearby pharmacy.This is an example of buying a(n)