front 1 A ________ is anything that can be offered to a market to satisfy a
want or need, including physical goods, services, experiences, events,
persons, places, properties, organizations, information, and
ideas. | back 1 B |
front 2 A customer judges a product offering by three basic elements: product
features and quality, services mix and quality, and ________. | back 2 D |
front 3 The five product levels constitute a ________. At each level more
customer value is added. | back 3 C |
front 4 When companies search for new ways to satisfy customers and
distinguish their offering from others, they look at the ________
product, which encompasses all the possible augmentations and
transformations of the product. | back 4 C |
front 5 The way the user performs the tasks of getting and using products and
related services is the user's total ________. | back 5 A |
front 6 Marketers must see themselves as benefit providers. For example, when
a shopper purchases new shoes, he/she expects the shoes to cover
his/her feet and allow him/her to walk unobstructed. This is an
example of what level in the consumer-value hierarchy? | back 6 B |
front 7 How a consumer shops for organic foods and how he or she uses and
disposes of the product is part of the consumers' ________ that is
important for marketers to consider. | back 7 B |
front 8 The sellers of ________ goods carry a wide assortment to satisfy
individual tastes and must have well-trained salespeople to inform and
advise customers. | back 8 D |
front 9 Marketers have traditionally classified products on the basis of
three characteristics: ________, tangibility, and use. | back 9 D |
front 10 Which of the following are tangible goods that normally survive many
uses? | back 10 B |
front 11 Because ________ are purchased frequently, marketers should make them
available in many locations, charge only a small markup, and advertise
heavily to induce trial and build preference. | back 11 A |
front 12 What types of goods are purchased frequently, immediately, and with
minimum effort by the consumers? | back 12 E |
front 13 It was sunny when Jenny went to class, but by the time class was over
it was raining heavily, so Jenny stopped by the student store to buy
an umbrella before she walked back to her dorm. In this case, the
umbrella is an example of a(n) ________. | back 13 D |
front 14 What goods are similar in quality but different enough in price to
justify shopping comparisons? | back 14 B |
front 15 Products such as insurance, cemetery plots, and smoke detectors are
examples of ________ that are products that the consumer does not know
about or does not normally think of buying. | back 15 B |
front 16 Industrial goods can be classified as ________, capital items, or
suppliers and business services based on their relative cost and how
they enter the production process. | back 16 E |
front 17 ________ are the major factors influencing the selection of suppliers
for natural products. | back 17 A |
front 18 Capital items are long-lasting goods that facilitate developing or
managing the finished product. They include two groups: installations
and ________. | back 18 D |
front 19 The two kinds of supplies with respect to industrial goods
classification are maintenance and repair items, and ________. | back 19 B |
front 20 ________ are major purchases and are usually bought directly from the
producer with the typical sale preceded by long negotiation
periods. | back 20 E |
front 21 Most products are established at one of four performance levels: low,
average, high, or superior. For example, mountain bikes come in a
variety of sizes and physical attributes. When a consumer purchases a
mountain bike costing $1,000, she/he expects the bike to perform to
specifications and to have a high ________ meeting the promised
specifications. | back 21 D |
front 22 Many products can be differentiated in terms of their ________, which
is its size, shape, or physical structure. | back 22 A |
front 23 ________ is the ability of a company to prepare on a large-scale
basis individually designed products, services, programs, and
communications. | back 23 A |
front 24 ________ is the level at which the product's primary characteristics
operate. | back 24 D |
front 25 Buyers expect products to have high ________, which is the degree to
which all the produced units are identical and meet the promised
specifications. | back 25 C |
front 26 Most products can be offered with varying ________ that can
supplement its basic function. | back 26 C |
front 27 If the Ford GT is designed to accelerate to 50 miles per hour within
10 seconds, and every Ford GT coming off the assembly line does this,
the model is said to have high ________. | back 27 B |
front 28 ________ describes the product's look and feel to the buyer; it has
an advantage of creating distinctiveness that is difficult to
copy. | back 28 B |
front 29 Ideal ________ would exist if users could fix the product themselves
with little cost in money or time. | back 29 E |
front 30 ________ is a measure of the probability that a product will not
malfunction or fail within a specified time period. | back 30 C |
front 31 When the physical product cannot be easily differentiated, the key to
competitive success may lie in adding valued services and improving
their quality. The main service differentiators are ordering ease,
delivery, installation, ________, customer consulting, maintenance,
and repair. | back 31 D |
front 32 Delivery refers to how well the product or service is brought to the
customer. It includes speed, ________, and care throughout the
delivery process. | back 32 E |
front 33 ________ refers to educating the customer's employees to use the
vendor's equipment properly and efficiently. | back 33 A |
front 34 ________ refers to data, information systems, and advice services
that the seller offers to their buyers. | back 34 E |
front 35 Differentiating on ________ is important for companies with complex
products and becomes an especially good selling point when targeting
technology novices. | back 35 C |
front 36 ________ describes the service program for helping customers keep
purchased products in good working order. | back 36 D |
front 37 Which of the following actions would result in the elimination of
uncontrollable returns of products in the short run? | back 37 E |
front 38 Smith & Adams Poultry has recently upgraded its transactional
model such that its customers (restaurants and hotels) can communicate
with its central supply system to indicate purchase volumes, dates,
and receive confirmation, through their computer terminals. This is an
example of a company differentiating itself versus competition in
terms of ________. | back 38 E |
front 39 Realizing that although household products is a huge category, taking
up an entire supermarket aisle or more, it is an incredibly boring
one, the founders of Method Products designed a sleek, uncluttered
dish soap container that also carried functional advantages, such as
ease of dispensing soap and cleaning. Method is competing in the
crowded market for household products on the basis of superior
________. | back 39 A |
front 40 In increasingly fast-paced markets, price and technology are not
enough. ________ is the factor that will often give a company its
competitive edge and is defined as the totality of features that
affect how a product looks, feels, and functions in terms of customer
requirements. | back 40 B |
front 41 A group of products within a product class that are closely related
because they perform a similar function, are sold to the same customer
groups, are marketed through the same outlets or channels, or fall
within given price ranges is known as a ________. | back 41 E |
front 42 A(n) ________ is defined as a distinct unit within a brand or product
line distinguishable by size, price, appearance, or some other
attribute. | back 42 A |
front 43 A ________ is the set of all products and items a particular seller
offers for sale. | back 43 B |
front 44 Happy Home Products produces detergents, toothpaste, bar soap,
disposable diapers, and paper products. This company has a product
________ of five lines. | back 44 E |
front 45 Using the ________ level of the product hierarchy to market its
soups, Campbell Soups feature the company name first, then the soup
variety on their packaging. | back 45 E |
front 46 A consumer products firm manufactures and sells over 200 different
sizes and varieties of jams and jellies. We can say that this
manufacturer's product mix has high ________. | back 46 B |
front 47 The ________ of the product mix refers to how closely related the
various product lines are in end use, production requirements,
distribution channels, or some other way. | back 47 A |
front 48 The ________ of the product mix refers to the total number of items
in the mix. | back 48 B |
front 49 In offering a product line, companies normally develop a ________ and
modules that can be added to meet different customer requirements.
| back 49 E |
front 50 The ________ of a product mix refers to how many variants are offered
of each product in the line. | back 50 C |
front 51 Which of the following is a benefit of product mapping? | back 51 C |
front 52 Product-line analysis provides information for two key decision
areasproduct-line length and ________. | back 52 B |
front 53 What occurs when any company lengthens its product line beyond its
current range? | back 53 E |
front 54 A company positioned in the "middle" market introduces a
lower-priced product line. What type of line-stretching is
this? | back 54 C |
front 55 Moving ________ carries risks. The new brand can cannibalize core
brand sales and lower the core brand's quality image. | back 55 D |
front 56 Companies may wish to implement a(n) ________ to achieve more growth,
to realize higher margins, or simply to position themselves as
full-line manufacturers. | back 56 A |
front 57 A manufacturer of hiking boots looks at data that indicate that their
subsegment of the market called "serious hiker" is declining
and is predicted to decline into the future. The firm decides to enter
the "low-price" segment with its new items. This is an
example of a firm's ________ to reach a new market. | back 57 A |
front 58 Marriott Corporation now contains hotels and motels from the
"budget" end of the consumer spectrum to the
"premium" end with their JD Marriott flagship locations.
This is an example of a firm that successfully performed a ________ to
reach more consumers and ventures that are more profitable. | back 58 B |
front 59 A product line can also be lengthened by adding more items within the
present range. There are several motives for line filling. Which of
the following is one of them? | back 59 C |
front 60 If line filling is overdone, it could result in ________ and customer
confusion. | back 60 C |
front 61 Price-setting logic must be modified when the product is part of a
product mix. In that case, the firm searches for a set of prices that
________ profits on the total mix. | back 61 C |
front 62 Companies normally develop ________ rather than single products and
require sellers to establish perceived quality differences between
price steps within it. | back 62 C |
front 63 When shopping for tires for your automobile, you notice that the
manufacturer you have selected has tires for your car priced low,
average, and high, based upon performance and features. This is an
example of what type of product-mix pricing? | back 63 B |
front 64 Some service firms often engage in ________, consisting of a fixed
fee plus a variable usage fee. | back 64 E |
front 65 In ________, the seller offers goods both individually and in bundles
and often charges less for the "bundle" than for the
individual products. | back 65 E |
front 66 Purchasers of theatre tickets receive a 20% discount if they purchase
and pay for the full season at one time. This is an example of what
type of product-mix pricing? | back 66 A |
front 67 McDonald's restaurants inside Wal-Marts and Starbucks inside Super
Targets are examples of ________, whose main advantages are that the
products can or may be convincingly positioned by virtue of the
associated brands. | back 67 C |
front 68 Betty Crocker cake mixes using Hershey syrup in its cake mixes and
"Lunchables" lunch combinations with Taco Bell tacos are
examples of what special type of branding? | back 68 B |
front 69 The main advantage of co-branding is that a product may be
convincingly positioned by virtue of the ________ involved. | back 69 C |
front 70 The potential disadvantages of ________ are the risks and lack of
control from becoming aligned with another brand in the consumers
mind. Consumer expectations about the level of involvement and
commitment are likely to be high, so unsatisfactory performance could
be very negative for the brands involved. | back 70 A |
front 71 ________ is a special case of co-branding involving creating brand
equity for materials, components, or parts that are necessarily
contained within other branded products. | back 71 B |
front 72 We define packaging as all the activities of designing and producing
the container for a product. This includes up to three levels of
material: primary package, secondary package, and ________. | back 72 C |
front 73 Sales of luxury goods such as perfumes, colognes, and aftershaves
depend heavily upon their initial response by the consumer. A
well-designed package can create convenience and promotional value. It
has been called the "silent salesman." Which of the three
levels of packaging is this "silent salesman"? | back 73 E |
front 74 Which of the following factors is one of the contributors to the
growing use of packaging as a marketing tool? | back 74 B |
front 75 ________ are formal statements of expected product performance by the
manufacturer. | back 75 B |
front 76 Many sellers offer either general or specific guarantees. Guarantees
reduce the buyer's ________ risk. | back 76 B |
front 77 Guarantees are most effective in two situations. The first is when
the company or products are not well known and the second is when the
product's quality is ________ to competition. | back 77 E |
front 78 A new product is advertised on the "infomercials" as being
"the best cleaner money can buy" and "if not completely
satisfied, return the product for a full refund, including
shipping." The strategy of using a strong guarantee in this
instance is sound because ________. | back 78 E |
front 79 Marketing planning begins with formulating an offering to meet target
customers' needs or wants. | back 79 true |
front 80 A product is anything that can be offered to a market to satisfy a
want or need. | back 80 true |
front 81 In planning its market offering, the marketer needs to address five
product levels, each of which reduces customer value. | back 81 false |
front 82 The customer-value hierarchy consists of the basic product, core
benefit, expected product, augmented product, and the consumption system. | back 82 false |
front 83 Marketers have traditionally classified products on the basis of
characteristics such as durability, tangibility, and use. | back 83 true |
front 84 Durable products normally require less personal selling and service
and less seller guarantees than nondurable goods. | back 84 false |
front 85 Because they are intangible, durable goods normally require more
quality control, supplier credibility, and adaptability than either
services or nondurable goods. | back 85 false |
front 86 Carlos always buys bread and milk when he goes grocery shopping. In
this case, bread and milk are examples of impulse goods. | back 86 false |
front 87 A Maserati sports car is considered a convenience good because
interested buyers will travel far to buy one. | back 87 false |
front 88 The homogeneity of natural materials limits the amount of
demand-creation activity that producers undertake. | back 88 true |
front 89 Capital items are long-lasting goods that facilitate developing or
managing the finished products. | back 89 true |
front 90 Supplies can be classified as two kinds: heterogenous supplies and
homogeneous supplies. | back 90 false |
front 91 To be branded, physical products need not be differentiated. | back 91 false |
front 92 To avoid "feature fatigue," companies must be careful to
prioritize those features that are included and find unobtrusive ways
to provide information about how consumers can use and benefit from
the feature. | back 92 true |
front 93 Firms should design the highest performance level possible for their products. | back 93 false |
front 94 As a selling point, durability commands a particularly high pricing
premium, especially for products that are subject to rapid
technological obsolescence, as are personal computers and video cameras. | back 94 false |
front 95 If the physical product cannot be easily differentiated, the key to
competitive advantage lies in the pricing of the related
"services" provided by the manufacturer. | back 95 false |
front 96 Customer training and customer consulting are two areas for service
differentiation that manufacturers can use with their products. | back 96 true |
front 97 The cost of processing a return can be significantly greater than
that of an outbound shipment. | back 97 true |
front 98 Design can shift consumer perceptions to make brand experiences more rewarding. | back 98 true |
front 99 The product hierarchy stretches from basic needs to particular items
that satisfy those needs. | back 99 true |
front 100 A product system is a group of diverse and unrelated items that does
not function in a compatible manner and includes the product mix and
product assortment. | back 100 false |
front 101 The four product-mix dimensions (length, width, depth, consistency)
permit the company to expand its business. | back 101 true |
front 102 The product-line length can be obtained by averaging the number of
variants within the brand groups. | back 102 false |
front 103 Every company's product line covers a certain part of the total
possible range of products and consumer levels. | back 103 true |
front 104 Companies in the "middle market" should never attempt to
stretch their line in both directions. | back 104 false |
front 105 Line filling, if overdone, may result in self-cannibalization and
increased customer loyalty. | back 105 false |
front 106 In the rapidly changing market of today's world, product lines must
be continuously updated or modernized. | back 106 true |
front 107 Price-setting logic must be modified when the product is part of a
product mix. | back 107 true |
front 108 Companies normally develop product lines rather than a single product
and introduce price steps such as a "low-,"
"average-," and "high-" priced computer system. | back 108 true |
front 109 Manufacturers of systems such as razors and ink jet printers use a
system of pricing called "two-part pricing"one price for
the disposable products and another for the "hardware." | back 109 false |
front 110 A pricing system in which there is a "fixed" fee and then a
variable "usage" fee is called bundling. | back 110 false |
front 111 Pure bundling occurs when a firm offers goods both individually and
in bundles. | back 111 false |
front 112 Co-branding is when two or more well-known existing brands are
combined into a joint product and/or marketed together in some fashion. | back 112 true |
front 113 Ingredient branding can take on a form called
"self-branding" in which the company advertises its own
branded ingredients. | back 113 true |
front 114 Packaging is all the activities of designing and producing the
container for a product. | back 114 true |
front 115 Labels can identify the product and must contain legal statements
that under various Federal laws cannot be misleading, false, or deceptive. | back 115 true |
front 116 Warranties are formal statements of expected product performance by
the manufacturer. | back 116 true |
front 117 A guarantee's greatest contribution to a product's success is that it
decreases the buyer's perceived risk in the purchase of the product. | back 117 true |
front 118 Guarantees are most effective when the product is well known and/or
similar in performance to other brands in the market. | back 118 false |