question bank answers

question bank answers

Product Concepts

15. A(n) _____ is a concept, philosophy, or image.

a) product

b) good

c) idea

d) service

e) issue

16. MADD (Mothers Against Drunk Driving) is a nonprofit organization that primarily markets

question bank answers

a) services.

b) ideas.

c) goods.

d) tangible products.

e) features.

17. According to the text, a product is defined as

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.

18. To make intangible products more tangible or real to the consumer, marketers often

a) use low prices on intangible goods.

b) use symbols or cues to help symbolize product benefits.

c) use external reference prices.

d) use multiple channels of distribution.

e) offer more support services with such products.

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

a) McDonald’s arches

b) Mercedes Benz emblem

c) Nike swoosh

d) Traveler’s Insurance umbrella

e) Arrows on Wrigley gum packages

20. A light bulb can be considered all of the following except

a) a consumer product.

b) a business product.

c) either a consumer product or a business product.

d) a business product if it is used to light an assembly line in a factory.

e) a consumer product if it is used to light the office of the board of directors.

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

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.

22. Which of the following is always used to determine the classification of a good?

question bank answers

a) Buyer’s intent for using the product

b) Amount of shopping required by the buyer to obtain the product

c) Price of the product

d) Specific product features

e) Industry competitors

23. Megan Avakian, who works as a purchasing agent for Greyhound Transport, buys carpeting for use in an office area at Greyhound. What determines whether this carpeting is a consumer or a business product?

a) Price

b) Selling organization

c) Terms of the sale

d) Buyer’s intended use of the product

e) Benefits the product provides

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

a) A lamp

b) A haircut

c) Running shoes

d) Gatorade

e) Concert tickets purchased online

25. Energizer batteries would be classified as which type of product?

a) Convenience

b) Shopping

c) Specialty

d) Unsought

e) Industrial service

26. Products which are relatively inexpensive and frequently purchased with minimal effort are classified as ___________ products.

question bank answers

a) shopping

b) convenience

c) industrial

d) specialty

e) unsought

27. Dannon Yogurt represents what type of product for most consumers?

a) Convenience

b) Business

c) Shopping

d) Specialty

e) Durable

28. Convenience products are

a) relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort.

b) frequently purchased items for which buyers are willing to exert considerable effort.

c) frequently purchased items that are found in certain retail outlets.

d) items that are expensive but are easy to purchase.

e) items that require some purchase planning and for which the buyer often will not accept substitutes.

29. Which of the following statements does not apply to convenience goods?

a) Consumers are brand loyal to convenience products and are not likely to substitute other brands.

b) Convenience products require minimal shopping effort.

c) Marketing of convenience products requires intensive exposure of these goods in as many stores as possible.

d) Consumers tend to feel that the most desirable retail facility for convenience products is the closest one.

e) Colas, gasoline, and bread are good examples of convenience goods.

30. Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ______ products.

a) shopping

b) specialty

c) service

d) convenience

e) unsought

31. Shannon Hill needed to buy an airline ticket to visit her parents. She called several airlines to compare rates and chose a flight on Southwest Air Lines because, for comparable prices, it had a better reputation for service. For Shannon, this flight is an example of which type of product?

a) Shopping

b) Convenience

c) Specialty

d) Unsought

e) Industrial

32. Gap clothing stores sell primarily what type of products?

a) Convenience

b) Shopping

c) Unsought

d) Nondurable

e) Specialty

 

33. Shopping products have a _____ inventory turnover and need _____ distribution outlets than convenience goods.

a) similar; more

b) higher; fewer

c) higher; more

d) lower; more

e) lower; fewer

34. Buyers do not compare alternatives when shopping for ______ products.

question bank answers

a) convenience

b) specialty

c) shopping

d) unique

e) unsought

35. The Carsons are going on a vacation back to Texas. When they lived there, Gwen Carson loved Blue Bell Cookies. Blue Bell is sold only in Texas. She plans to buy two boxes at the first store she visits after they arrive. For Gwen, Blue Bell represents a(n) ___________ product.

a) convenience

b) shopping

c) specialty

d) unsought

e) durable

36. A specialty product

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.

37. David Wilson is an avid collector of Major League Baseball memorabilia. He greatly desires to own the “special” bat that got the slugger Sammy Sosa a seven-game suspension due to its illegal contents. This is an example of a(n) ______ product.

a) shopping

b) unique

c) specialty

d) historical

e) unsought

38. As Beth and Rob Barker search for a new home, they are interested only in houses built by a particular builder. This purchase is characteristic of a(n) ___________ product.

a) convenience

b) unsought

c) disposable

d) shopping

e) specialty

39. When a sudden problem confronts a consumer, such as emergency automobile repair, he or she is likely going to view solutions to that problem as

a) specialty products.

b) installations.

c) unsought products.

d) shopping products.

e) convenience products.

40. Nick Arnold’s Auto Towing Service would best be described as a(n) __________ product.

a) convenience

b) unsought

c) specialty

d) durable

e) shopping

41. Business products are

a) purchased for personal consumption.

b) chosen on the basis of preferences expressed by a business procurement department.

c) purchased for both their functional aspects and their psychological rewards.

d) classified according to their characteristics and intended uses.

e) not purchased by nonbusiness organizations.

42. Facilities, factories, and production lines with very large equipment are all classified as

a) accessory equipment.

b) permanents.

c) installations.

d) component parts.

e) MRO facilities.

43. Tojitos Mexican Restaurant purchased several large ovens for use in remodeling its kitchens. These ovens are an example of which type of business product?

a) Raw materials

b) Installations

c) Accessory equipment

d) Component parts

e) Process materials

44. As the production manager of an engineering firm, you went out and bought a metal cutting machine. What you have purchased can best be classified as a

a) raw material.

b) processed component.

c) component part.

d) service.

e) business product.

45. 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?

a) Business

b) Process materials

c) Raw material

d) Convenience

e) Consumer

46. Which of the following is not a business product?

a) Oil to be refined into fuel

b) Chips to be integrated into components for personal computers

c) Paper, pens, and tape to be used in an office

d) Marketing consulting services to aid a company in marketing a new product

e) Calculators bought to help individuals complete their personal federal income tax forms

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

a) installations.

b) accessory equipment.

c) component parts.

d) raw materials.

e) MRO supplies.

48. Business products are classified into the following seven categories according to characteristics and intended uses: raw materials, installations, accessory equipment, component parts, process materials, business services, and

a) production activities.

b) service assistance.

c) specialty industrial products.

d) computer programming and operation services.

e) MRO supplies.

49. Minerals, chemicals, timber, and agricultural products are considered

a) process materials.

b) accessory materials.

c) MRO supplies.

d) component parts.

e) raw materials.

50. A distributor of plumbing supplies purchases a desktop computer to aid in inventory control. This computer is an example of which type of business product?

a) Raw material

b) Installations

c) Accessory equipment

d) Component part

e) Process material

51. Although they become part of a larger product, _______ can often be easily identified and distinguished on the larger product.

question bank answers

a) component parts

b) accessory parts

c) raw materials

d) process materials

e) MRO supplies

52. Business products that are purchased routinely, do not become part of finished goods, and are expense items rather than capital goods are called

question bank answers

a) raw materials.

b) installations.

c) accessory equipment.

d) component parts.

e) process materials.