Question 1

The gross margin percentage on convenience goods is usually fairly high because they are low-priced items.

Accepted Answer

A) True 
 B)False

Question 2

When Sony realized its CD players were in the decline stage,it decided to immediately withdraw all of its marketing support from these declining products,an approach known as

Accepted Answer

A)  harvesting. 
B)  divesting. 
C)  investing. 
D)  realigning. 
E)  squashing. 
A)  harvesting. 
B)  divesting. 
C)  investing. 
D)  realigning. 
E)  squashing.

Question 3

Sellers can sometimes prolong a product's life cycle.

Accepted Answer

A) True 
 B)False

Question 4

When are marketers least likely to change a product's design,style,or other attributes?

Accepted Answer

A)  Introduction 
B)  Maturity 
C)  Decline 
D)  Growth 
E)  Removal 
A)  Introduction 
B)  Maturity 
C)  Decline 
D)  Growth 
E)  Removal

Question 5

Early adopters are the first group of consumers to adopt a new product.

Accepted Answer

A) True 
 B)False

Question 6

Identify and describe the major categories of business products.

Accepted Answer

The answer of Identify and describe the major categories of...

Question 7

The marketing mix should be left alone during the maturity stage of the product life cycle; tampering with it may bring an early death to the product.

Accepted Answer

A) True 
 B)False

Question 8

Products are classified as being business or consumer products according to the

Accepted Answer

A)  goals of the organization. 
B)  buyer's intended use of the product. 
C)  seller's intended use of the product. 
D)  location of use. 
E)  types of outlets from which they are purchased. 
A)  goals of the organization. 
B)  buyer's intended use of the product. 
C)  seller's intended use of the product. 
D)  location of use. 
E)  types of outlets from which they are purchased.

Question 9

As Jessica enters Best Buy's car electronics department,she is asked by the salesperson if she has seen the new plug-in cell phones with TV display.She answers that she didn't know that this type of phone accessory for cars was available.Based on this information,she is now in what stage of the product adoption process for this item?

Accepted Answer

A)  Awareness 
B)  Interest 
C)  Evaluation 
D)  Trial 
E)  Adoption 
A)  Awareness 
B)  Interest 
C)  Evaluation 
D)  Trial 
E)  Adoption

Question 10

Sales start at zero and profits are negative during the ____ stage of the product life cycle.

Accepted Answer

A)  decline 
B)  growth 
C)  initial 
D)  maturity 
E)  introduction 
A)  decline 
B)  growth 
C)  initial 
D)  maturity 
E)  introduction

Question 11

Energizer batteries would be classified as which type of product?

Accepted Answer

A)  Convenience 
B)  Shopping 
C)  Specialty 
D)  Unsought 
E)  Industrial service 
A)  Convenience 
B)  Shopping 
C)  Specialty 
D)  Unsought 
E)  Industrial service

Question 12

Identify the major stages of the product life cycle,and explain how industry sales and profits vary across these stages.

Accepted Answer

The answer of Identify the major stages of the product...

Question 13

When an individual considers whether a product will meet certain criteria that are critical for meeting his or her needs,in what stage of the product adoption process is this individual?

Accepted Answer

A)  Interest 
B)  Awareness 
C)  Evaluation 
D)  Trial 
E)  Adoption 
A)  Interest 
B)  Awareness 
C)  Evaluation 
D)  Trial 
E)  Adoption

Question 14

Intensive competition causes price increases during the growth stage of the product life cycle.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following best illustrates how a firm can use a symbol to make an intangible product more tangible?

Accepted Answer

A)  McDonald's arches 
B)  Mercedes Benz emblem 
C)  Nike swoosh 
D)  Traveler's Insurance umbrella 
E)  Arrows on Wrigley gum packages 
A)  McDonald's arches 
B)  Mercedes Benz emblem 
C)  Nike swoosh 
D)  Traveler's Insurance umbrella 
E)  Arrows on Wrigley gum packages

Question 16

A buyer becomes aware of the product during the evaluation phase of the product adoption process.

Accepted Answer

A) True 
 B)False

Question 17

Large tools and machines used in a production process for a considerable length of time are classified as

Accepted Answer

A)  installations. 
B)  accessory equipment. 
C)  component parts. 
D)  raw materials. 
E)  MRO supplies. 
A)  installations. 
B)  accessory equipment. 
C)  component parts. 
D)  raw materials. 
E)  MRO supplies.

Question 18

Strategies relating to price become more mixed during a product's maturity stage.

Accepted Answer

A) True 
 B)False

Question 19

Minerals,chemicals,timber,and agricultural products are considered

Accepted Answer

A)  process materials. 
B)  accessory materials. 
C)  MRO supplies. 
D)  component parts. 
E)  raw materials. 
A)  process materials. 
B)  accessory materials. 
C)  MRO supplies. 
D)  component parts. 
E)  raw materials.

Question 20

According to the text,a product is defined as

Accepted Answer

A)  anything the customer receives in an exchange. 
B)  the physical object the customer receives in an exchange. 
C)  the service that is rendered to a customer. 
D)  the idea that the customer receives in an exchange. 
E)  goods and services the customer receives in an exchange. 
A)  anything the customer receives in an exchange. 
B)  the physical object the customer receives in an exchange. 
C)  the service that is rendered to a customer. 
D)  the idea that the customer receives in an exchange. 
E)  goods and services the customer receives in an exchange.

Exam 10: Product Decisions

The gross margin percentage on convenience goods is usually fairly high because they are low-priced items.

When Sony realized its CD players were in the decline stage,it decided to immediately withdraw all of its marketing support from these declining products,an approach known as

Sellers can sometimes prolong a product's life cycle.

When are marketers least likely to change a product's design,style,or other attributes?

Early adopters are the first group of consumers to adopt a new product.

Identify and describe the major categories of business products.

The marketing mix should be left alone during the maturity stage of the product life cycle; tampering with it may bring an early death to the product.

Products are classified as being business or consumer products according to the

Sales start at zero and profits are negative during the ____ stage of the product life cycle.

Energizer batteries would be classified as which type of product?

Identify the major stages of the product life cycle,and explain how industry sales and profits vary across these stages.

When an individual considers whether a product will meet certain criteria that are critical for meeting his or her needs,in what stage of the product adoption process is this individual?

Intensive competition causes price increases during the growth stage of the product life cycle.

Which of the following best illustrates how a firm can use a symbol to make an intangible product more tangible?

A buyer becomes aware of the product during the evaluation phase of the product adoption process.

Large tools and machines used in a production process for a considerable length of time are classified as

Strategies relating to price become more mixed during a product's maturity stage.

Minerals,chemicals,timber,and agricultural products are considered

According to the text,a product is defined as

Strategic Marketing Management

Developing and Implementing Marketing Strategies

The Global Marketing Environment

Information for Marketing Decisions

Selecting Target Markets

Consumer Behavior

Business Buying Behavior

International Marketing

Digital Marketing and Social Media

Strategic Product Management

Services Marketing

Strategic Management of Branding and Packaging

A Supply Chain Management and Marketing Channels

B Supply Chain Management and Marketing Channels

A Retailing,wholesaling and Direct Marketing

B Retailing,wholesaling and Direct Marketing

Integrated Marketing Communications

Advertising and Publicrelations

Personal Selling and Sales Promotion

Strategic Pricing Management

Pricingdecisions

Global Issues,social Responsibility and Marketing

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