Question 1

Buyers want to exert only minimal effort to obtain shopping products.

Accepted Answer

A) True 
 B)False

Question 2

Unfinished furniture is considered to be a convenience product because it is relatively inexpensive.

Accepted Answer

A) True 
 B)False

Question 3

Discuss some of the issues a marketer should consider when marketing a shopping product.

Accepted Answer

The answer of Discuss some of the issues a marketer...

Question 4

In which stage of the product life cycle do profits begin to decrease?

Accepted Answer

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

Question 5

When Jones' Soda launched its Turkey Gravy flavored soda,it was hoping to take advantage of the short-lived clear-products fad.By the time it launched the soda,the fad for quirky soda flavors had already waned,and customers were no longer clamoring for these type of products.The reason this product failed is

Accepted Answer

A)  poor timing. 
B)  the company's failure to match product offerings to customer needs. 
C)  ineffective branding. 
D)  design problems. 
E)  overestimation of market size. 
A)  poor timing. 
B)  the company's failure to match product offerings to customer needs. 
C)  ineffective branding. 
D)  design problems. 
E)  overestimation of market size.

Question 6

A specialty product

Accepted Answer

A)  requires minimal effort to purchase. 
B)  is purchased frequently. 
C)  requires purchase planning,and the buyer will not accept substitutes. 
D)  is generally less expensive than other items in the same product class. 
E)  prompts the purchaser to make comparisons among alternatives. 
A)  requires minimal effort to purchase. 
B)  is purchased frequently. 
C)  requires purchase planning,and the buyer will not accept substitutes. 
D)  is generally less expensive than other items in the same product class. 
E)  prompts the purchaser to make comparisons among alternatives.

Question 7

An accountant buys a supply of pencils to be used in calculating the taxes of other business firms.Based on this information,pencils in this case would be considered what type of product?

Accepted Answer

A)  Business 
B)  Process materials 
C)  Raw material 
D)  Convenience 
E)  Consumer 
A)  Business 
B)  Process materials 
C)  Raw material 
D)  Convenience 
E)  Consumer

Question 8

The core product element of the total product can include installation,delivery,training,and financing.

Accepted Answer

A) True 
 B)False

Question 9

Achieving greater penetration of the market is typically a business goal during the ____ stage of the product life cycle.

Accepted Answer

A)  maturity 
B)  growth 
C)  introduction 
D)  market testing 
E)  decline 
A)  maturity 
B)  growth 
C)  introduction 
D)  market testing 
E)  decline

Question 10

Component parts usually need to be processed significantly before they are used in production.

Accepted Answer

A) True 
 B)False

Question 11

Use the following to answer the questions.
Gillette shaving razors were first manufactured in 1895.Over the years,Gillette made improvements on their razors offering many "firsts" such as the Mach3,the Sensor,and the Fusion.For many years,women were forced to use razors designed primarily for men,but often marketed to women by offering them in different colors and with minimal modifications.In 1998 Gillette developed the Venus razor,based on the Mach3 but made specifically for women.Gillette promoted the Venus razor heavily,with television ads and other forms of media.The Gillette product line,now owned by Procter & Gamble,continues to introduce new versions of the Venus,such as the Venus Embrace,which has additional blades and other modifications.
-Refer to Scenario 10.1.Molly has been using a Bic disposable razor for her shaving needs for the last ten years.She doesn't really see the need to spend more money on razors,but she sees that it is becoming more difficult to find the Bic,and so she is considering the Venus Embrace.Molly is definitely not a(n)____ in the product adopter categories,and is more likely to be ____.

Accepted Answer

A)  innovator; an early adopter 
B)  early adopter; an innovator 
C)  early majority; an early adopter 
D)  innovator; an early majority 
E)  innovator; a late majority 
A)  innovator; an early adopter 
B)  early adopter; an innovator 
C)  early majority; an early adopter 
D)  innovator; an early majority 
E)  innovator; a late majority

Question 12

Frito-Lay,which is widely known for producing chips and other snack products,tried to introduce Frito-Lay lemonade.The reason this new product failed is likely because of

Accepted Answer

A)  poor timing. 
B)  the failure to match product offerings to customer needs. 
C)  technical problems. 
D)  overestimation of market size. 
E)  ineffective branding. 
A)  poor timing. 
B)  the failure to match product offerings to customer needs. 
C)  technical problems. 
D)  overestimation of market size. 
E)  ineffective branding.

Question 13

Which of the following is most likely to be considered a convenience good?

Accepted Answer

A)  A lamp 
B)  A haircut 
C)  Running shoes 
D)  Gatorade 
E)  Concert tickets purchased online 
A)  A lamp 
B)  A haircut 
C)  Running shoes 
D)  Gatorade 
E)  Concert tickets purchased online

Question 14

Sales usually start to decline during the ____ stage of the product life cycle.

Accepted Answer

A)  beginning of the termination 
B)  end of the growth 
C)  beginning of the decline 
D)  beginning of the growth 
E)  end of the maturity 
A)  beginning of the termination 
B)  end of the growth 
C)  beginning of the decline 
D)  beginning of the growth 
E)  end of the maturity

Question 15

Many products never get beyond the introduction stage.

Accepted Answer

A) True 
 B)False

Question 16

Procter & Gamble makes at least eight different laundry detergents.This is most relevant to the issue of

Accepted Answer

A)  width of product mix. 
B)  product mix consistency. 
C)  depth of product mix. 
D)  a market mix. 
E)  a promotion mix. 
A)  width of product mix. 
B)  product mix consistency. 
C)  depth of product mix. 
D)  a market mix. 
E)  a promotion mix.

Question 17

A product line is a particular version of a product that can be designated as a distinct offering on the organization's list of products.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following tactics would typically be employed when a product is in the growth stage of its life cycle?

Accepted Answer

A)  Lowering prices after developmental costs have been recovered 
B)  Raising promotion expenditures as a percentage of total sales 
C)  Moving from intensive to selective distribution 
D)  Raising prices to encourage competitors to enter the market 
E)  Reducing the number of product models in the product line 
A)  Lowering prices after developmental costs have been recovered 
B)  Raising promotion expenditures as a percentage of total sales 
C)  Moving from intensive to selective distribution 
D)  Raising prices to encourage competitors to enter the market 
E)  Reducing the number of product models in the product line

Question 19

For each product life cycle stage,discuss the strategic implications.

Accepted Answer

The product life cycle consists of four

Question 20

Nick Arnold's Auto Towing Service would best be described as a(n)____ product.

Accepted Answer

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

Exam 10: Product Decisions

Buyers want to exert only minimal effort to obtain shopping products.

Unfinished furniture is considered to be a convenience product because it is relatively inexpensive.

Discuss some of the issues a marketer should consider when marketing a shopping product.

In which stage of the product life cycle do profits begin to decrease?

A specialty product

An accountant buys a supply of pencils to be used in calculating the taxes of other business firms.Based on this information,pencils in this case would be considered what type of product?

The core product element of the total product can include installation,delivery,training,and financing.

Achieving greater penetration of the market is typically a business goal during the ____ stage of the product life cycle.

Component parts usually need to be processed significantly before they are used in production.

Frito-Lay,which is widely known for producing chips and other snack products,tried to introduce Frito-Lay lemonade.The reason this new product failed is likely because of

Which of the following is most likely to be considered a convenience good?

Sales usually start to decline during the ____ stage of the product life cycle.

Many products never get beyond the introduction stage.

Procter & Gamble makes at least eight different laundry detergents.This is most relevant to the issue of

A product line is a particular version of a product that can be designated as a distinct offering on the organization's list of products.

Which of the following tactics would typically be employed when a product is in the growth stage of its life cycle?

For each product life cycle stage,discuss the strategic implications.

Nick Arnold's Auto Towing Service would best be described as a(n)____ product.

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

Filters