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

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

Accepted Answer

A) True 
 B)False

Question 3

_____ constitute the regular expenses a firm incurs in its daily operations.

Accepted Answer

A) Impulse products 
B) Installations 
C) Supplies 
D) Accessory equipments 
A) Impulse products 
B) Installations 
C) Supplies 
D) Accessory equipments

Question 4

A tech company is set to release a new watch with a built-in exercise and cholesterol monitor around the holidays.Because the product is new to the market,consumers know very little about it.The company wants to ensure that by the time the holiday season arrives,consumers are well-informed and ready to make major purchases. Required:
Which of the following steps should the company take to market its new product efficiently?
​
​

Accepted Answer

A) ​limit the number of distribution channels 
B) ​develop a campaign that focuses on product features 
C) ​highlight the drawbacks of competing products on the market 
D) ​spend money on fine-tuning the product rather than on marketing 
E) ​establish a call center so consumers can phone and have their questions answered 
A) ​limit the number of distribution channels 
B) ​develop a campaign that focuses on product features 
C) ​highlight the drawbacks of competing products on the market 
D) ​spend money on fine-tuning the product rather than on marketing 
E) ​establish a call center so consumers can phone and have their questions answered

Question 5

Match each item with the correct statement below.
-Products with unique characteristics that cause buyers to prize those particular brands 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

Delectable,a fast food chain,emphasizes a lot on things like how the staffs are dressed,how the food is presented,as well as cleanliness of their service area.According to this information,Delectable is focusing on which of the following variables of service quality?

Accepted Answer

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

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

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 9

Which of the following is true of services?

Accepted Answer

A) Services are tangible. 
B) Services are inseparable from service providers. 
C) Companies can easily standardize services. 
D) Services are nonperishable. 
A) Services are tangible. 
B) Services are inseparable from service providers. 
C) Companies can easily standardize services. 
D) Services are nonperishable.

Question 10

Define product lifecycle.Describe the various stages of a product lifecycle.

Accepted Answer

Product lifecycle refers to the progress

Question 11

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 12

Which of the following is true of the practice of homeshoring?

Accepted Answer

A) It reduces a company's spending on health care. 
B) It increases a company's spending on supplies. 
C) It increases the amount of energy consumed by the company. 
D) It increases a company's impact on the environment. 
A) It reduces a company's spending on health care. 
B) It increases a company's spending on supplies. 
C) It increases the amount of energy consumed by the company. 
D) It increases a company's impact on the environment.

Question 13

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

Accepted Answer

Services also play a crucial role in the

Question 14

Discuss the problems posed by the application of the three-way classification system of convenience,shopping,and specialty goods and services.

Accepted Answer

The three-way classification system pose

Question 15

Marketers classify goods and services by considering the purchase patterns of the majority of buyers.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) mix 
B) cluster 
C) pack 
D) bunch 
A) mix 
B) cluster 
C) pack 
D) bunch

Question 17

​Marketers aim to design an appropriate marketing mix to draw the intended target market.During a meeting with company executives,Roy suggests that one way to engage the target market and ensure that its members continue to be loyal customers is by allowing them to return their gadgets in exchange for workable or new parts when customers file complaints that their products no longer work. Required:
In thinking about how to best market new products,which of the following components of the product variable is described above?

Accepted Answer

A) ​price 
B) ​labels 
C) ​warranty 
D) ​packaging 
E) ​reputation 
A) ​price 
B) ​labels 
C) ​warranty 
D) ​packaging 
E) ​reputation

Question 18

As consumers devote little effort to convenience product purchase decisions,marketers must strive to make these exchanges as simple as possible.

Accepted Answer

A) True 
 B)False

Question 19

An automated teller machine (ATM)is an example of a convenience service.

Accepted Answer

A) True 
 B)False

Question 20

​Jessica is planning a vacation and is interested in taking a cruise.She's starting to research cruise lines and prices and had hoped to take a cruise with her husband over the Christmas holidays.She's learning that the prices for a cruise are much higher for cruises that depart between December 22nd and January 3rd.However,she notices that prices are somewhat lower from January 4th through March 1st.Which aspect or characteristics of services does this difference in price reflect?

Accepted Answer

A) ​services are perishable 
B) ​services are intangible 
C) ​services are inseparable from the service providers 
D) ​companies cannot easily standardize services 
A) ​services are perishable 
B) ​services are intangible 
C) ​services are inseparable from the service providers 
D) ​companies cannot easily standardize services

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

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

_____ constitute the regular expenses a firm incurs in its daily operations.

Match each item with the correct statement below. -Products with unique characteristics that cause buyers to prize those particular brands are called _____.

Delectable,a fast food chain,emphasizes a lot on things like how the staffs are dressed,how the food is presented,as well as cleanliness of their service area.According to this information,Delectable is focusing on which of the following variables of service quality?

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

Natural resources,farm produce and lumber constitute _____.

Which of the following is true of services?

Define product lifecycle.Describe the various stages of a product lifecycle.

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.

Which of the following is true of the practice of homeshoring?

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

Discuss the problems posed by the application of the three-way classification system of convenience,shopping,and specialty goods and services.

Marketers classify goods and services by considering the purchase patterns of the majority of buyers.

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

As consumers devote little effort to convenience product purchase decisions,marketers must strive to make these exchanges as simple as possible.

An automated teller machine (ATM)is an example of a convenience 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

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

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

_____ constitute the regular expenses a firm incurs in its daily operations.

Match each item with the correct statement below. -Products with unique characteristics that cause buyers to prize those particular brands are called _____.

Delectable,a fast food chain,emphasizes a lot on things like how the staffs are dressed,how the food is presented,as well as cleanliness of their service area.According to this information,Delectable is focusing on which of the following variables of service quality?

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

Natural resources,farm produce and lumber constitute _____.

Which of the following is true of services?

Define product lifecycle.Describe the various stages of a product lifecycle.

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.

Which of the following is true of the practice of homeshoring?

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

Discuss the problems posed by the application of the three-way classification system of convenience,shopping,and specialty goods and services.

Marketers classify goods and services by considering the purchase patterns of the majority of buyers.

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

As consumers devote little effort to convenience product purchase decisions,marketers must strive to make these exchanges as simple as possible.

An automated teller machine (ATM)is an example of a convenience 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