Question 1

Convenience of location is unimportant to a consumer who wants to buy a specialty product.

Accepted Answer

A) True 
 B)False

Question 2

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 3

Using the consumer products classification system,which of the following is true of the marketing mix factors for a convenience product?

Accepted Answer

A) It is generally high priced. 
B) The seller's image is very important. 
C) It has a long distribution channel. 
D) Its number of sales outlets tends to be very few. 
A) It is generally high priced. 
B) The seller's image is very important. 
C) It has a long distribution channel. 
D) Its number of sales outlets tends to be very few.

Question 4

Match each item with the correct statement below.
-Products bought in response to unexpected and urgent needs 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 5

Christopher who is a hair stylist owns Curlz,the best salon in Los Angeles.The clients swear by Christopher,and brides and bridesmaids flock to him for all weddings in LA.Christopher's name has become synonymous with the service at Curlz.Which of the following characteristics of services best explains this association?

Accepted Answer

A) Companies cannot easily standardize services. 
B) Service standards show wide variations. 
C) Services are inseparable from the service providers. 
D) Services are perishable and intangible. 
A) Companies cannot easily standardize services. 
B) Service standards show wide variations. 
C) Services are inseparable from the service providers. 
D) Services are perishable and intangible.

Question 6

Define product.How do marketers perceive products?

Accepted Answer

A product is a bundle of physical,servic

Question 7

​An electronics company has seen a 35-57% increase during the fourth quarter for the last decade.Company executives attribute this immense increase in profits to the holiday season. ​
Required:
Which of the following best explains the company's fourth-quarter growth?

Accepted Answer

A) ​The company employs a short distribution channel. 
B) ​The company has a strong relationship with customers. 
C) ​The company provides flexible and customized goods. 
D) ​The company uses few promotional strategies during the holidays. 
E) ​The demand for the company's goods fluctuates over the course of the year. 
A) ​The company employs a short distribution channel. 
B) ​The company has a strong relationship with customers. 
C) ​The company provides flexible and customized goods. 
D) ​The company uses few promotional strategies during the holidays. 
E) ​The demand for the company's goods fluctuates over the course of the year.

Question 8

Mommy & Little Tots manufactures products for mothers-to-be as well as newborn infants.Their products include maternity wear,diapers,wipes,burp clothes,and swaddling blankets.These products constitute the "product _____" at Mommy & Little Tots.

Accepted Answer

A) pack 
B) congregation 
C) cluster 
D) line 
A) pack 
B) congregation 
C) cluster 
D) line

Question 9

Sam works for a small IT management company.He is responsible for replenishing the supply of office stationery.Every week he makes an inventory of the required items and gets them.Using the business products classification system,which of the following is most likely to be true of Sam's purchases?

Accepted Answer

A) Sam's purchases are influenced solely by the quality of the products. 
B) Sam plans extensively for his purchases. 
C) Sam's purchases tend to be infrequent. 
D) Sam's purchases are highly influenced by the prices of the products. 
A) Sam's purchases are influenced solely by the quality of the products. 
B) Sam plans extensively for his purchases. 
C) Sam's purchases tend to be infrequent. 
D) Sam's purchases are highly influenced by the prices of the products.

Question 10

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 11

Services are intangible products.

Accepted Answer

A) True 
 B)False

Question 12

The cost of installations for business services is generally high because they tend to be part of a company's capital investment strategy. ​
Required:
Which of the following statements is true of installations?

Accepted Answer

A) Installations require a very long distribution channel. 
B) ​Installations are the least significant business products. 
C) The quality of the product is less of an issue for company executives. 
D) ​Companies promote the sale of installations via extensive advertising campaigns. 
E) ​Company executives spend a lot of time planning before they purchase installations. 
A) Installations require a very long distribution channel. 
B) ​Installations are the least significant business products. 
C) The quality of the product is less of an issue for company executives. 
D) ​Companies promote the sale of installations via extensive advertising campaigns. 
E) ​Company executives spend a lot of time planning before they purchase installations.

Question 13

Match each item with the correct statement below.
-Goods and services consumers want to purchase frequently,immediately,and with minimal effort 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 14

Milk is an example of a convenience product.

Accepted Answer

A) True 
 B)False

Question 15

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 16

Homeshoring is the practice of hiring workers to do jobs from home.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is true of specialty products?

Accepted Answer

A) Purchasers are usually bargain hunters who are not willing to pay much. 
B) Purchasers begin shopping with complete information of the desired product. 
C) Purchasers tend to exert minimal effort to obtain the desired product. 
D) Purchasers generally accept substitutes if the desired product is unavailable. 
A) Purchasers are usually bargain hunters who are not willing to pay much. 
B) Purchasers begin shopping with complete information of the desired product. 
C) Purchasers tend to exert minimal effort to obtain the desired product. 
D) Purchasers generally accept substitutes if the desired product is unavailable.

Question 18

Casanova Supplies specializes in pharmaceuticals,home and office cleaning supplies,bath essentials,and pet care.The pharmaceutical line,which has five products,is the company's newest line.The home and office line has 12 unique products; the bath essentials line has 10 products; and the pet care line has seven products. Required:
Which of the following statements is true about Casanova Supplies?​

Accepted Answer

A) ​The company lacks a product mix. 
B) ​The company has a product mix width of 4. 
C) ​The company has four items in its product mix. 
D) ​The company has a narrow product mix length. 
E) ​The company has a product mix depth of 34 items. 
A) ​The company lacks a product mix. 
B) ​The company has a product mix width of 4. 
C) ​The company has four items in its product mix. 
D) ​The company has a narrow product mix length. 
E) ​The company has a product mix depth of 34 items.

Question 19

​Most people don't think of what they purchase from their yoga instructor as a product.But because you're a marketer,you realize that a yoga class is a product because it delivers _____.

Accepted Answer

A) ​effective positioning 
B) ​consumer want satisfaction 
C) ​Maslow's hierarchy of needs 
D) ​cost efficiency 
E) ​competition 
A) ​effective positioning 
B) ​consumer want satisfaction 
C) ​Maslow's hierarchy of needs 
D) ​cost efficiency 
E) ​competition

Question 20

Doug is a business analyst for a leading manufacturer of sports shoes.A careful analysis of market conditions reveals that there is actually an excess supply in the market for sprinting shoes.Doug infers that the sprinting shoes are in the _____ stage of the product lifecycle.

Accepted Answer

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

Convenience of location is unimportant to a consumer who wants to buy a specialty product.

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.

Using the consumer products classification system,which of the following is true of the marketing mix factors for a convenience product?

Match each item with the correct statement below. -Products bought in response to unexpected and urgent needs are called _____.

Define product.How do marketers perceive products?

An electronics company has seen a 35-57% increase during the fourth quarter for the last decade.Company executives attribute this immense increase in profits to the holiday season. Required: Which of the following best explains the company's fourth-quarter growth?

Mommy & Little Tots manufactures products for mothers-to-be as well as newborn infants.Their products include maternity wear,diapers,wipes,burp clothes,and swaddling blankets.These products constitute the "product _____" at Mommy & Little Tots.

Sam works for a small IT management company.He is responsible for replenishing the supply of office stationery.Every week he makes an inventory of the required items and gets them.Using the business products classification system,which of the following is most likely to be true of Sam's purchases?

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.

Services are intangible products.

The cost of installations for business services is generally high because they tend to be part of a company's capital investment strategy. Required: Which of the following statements is true of installations?

Match each item with the correct statement below. -Goods and services consumers want to purchase frequently,immediately,and with minimal effort are called _____.

Milk is an example of a convenience product.

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:

Homeshoring is the practice of hiring workers to do jobs from home.

Which of the following is true of specialty products?

Most people don't think of what they purchase from their yoga instructor as a product.But because you're a marketer,you realize that a yoga class is a product because it delivers _____.

Doug is a business analyst for a leading manufacturer of sports shoes.A careful analysis of market conditions reveals that there is actually an excess supply in the market for sprinting shoes.Doug infers that the sprinting shoes are in the _____ stage of the product lifecycle.

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

Convenience of location is unimportant to a consumer who wants to buy a specialty product.

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.

Using the consumer products classification system,which of the following is true of the marketing mix factors for a convenience product?

Match each item with the correct statement below. -Products bought in response to unexpected and urgent needs are called _____.

Define product.How do marketers perceive products?

​An electronics company has seen a 35-57% increase during the fourth quarter for the last decade.Company executives attribute this immense increase in profits to the holiday season. ​ Required: Which of the following best explains the company's fourth-quarter growth?

Mommy & Little Tots manufactures products for mothers-to-be as well as newborn infants.Their products include maternity wear,diapers,wipes,burp clothes,and swaddling blankets.These products constitute the "product _____" at Mommy & Little Tots.

Sam works for a small IT management company.He is responsible for replenishing the supply of office stationery.Every week he makes an inventory of the required items and gets them.Using the business products classification system,which of the following is most likely to be true of Sam's purchases?

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.

Services are intangible products.

The cost of installations for business services is generally high because they tend to be part of a company's capital investment strategy. ​ Required: Which of the following statements is true of installations?

Match each item with the correct statement below. -Goods and services consumers want to purchase frequently,immediately,and with minimal effort are called _____.

Milk is an example of a convenience product.

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:

Homeshoring is the practice of hiring workers to do jobs from home.

Which of the following is true of specialty products?

​Most people don't think of what they purchase from their yoga instructor as a product.But because you're a marketer,you realize that a yoga class is a product because it delivers _____.

Doug is a business analyst for a leading manufacturer of sports shoes.A careful analysis of market conditions reveals that there is actually an excess supply in the market for sprinting shoes.Doug infers that the sprinting shoes are in the _____ stage of the product lifecycle.

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

An electronics company has seen a 35-57% increase during the fourth quarter for the last decade.Company executives attribute this immense increase in profits to the holiday season. Required: Which of the following best explains the company's fourth-quarter growth?

The cost of installations for business services is generally high because they tend to be part of a company's capital investment strategy. Required: Which of the following statements is true of installations?

Most people don't think of what they purchase from their yoga instructor as a product.But because you're a marketer,you realize that a yoga class is a product because it delivers _____.