28. A product assortment is: A) a particular product within a product line. B) a set of products that are closely related. C) the set of all product lines and individual products that a firm sells. D) something offered by manufacturers but not by retailers. E) None of the above.
26. "Product" means;A) a physical good with all its related services.;B) the need-satisfying offering of a firm.;C) all of a firm's producing and distribution activities.;D) a well-packaged item with a well-advertised brand name.;E) all the services needed with a physical good.;27. A "product" might include;A) instructions.;B) a service which does not include a physical good at all.;C) some physical item and its related features.;D) a brand name, a package, and a warranty.;E) All of the above.;28. A product assortment is;A) a particular product within a product line.;B) a set of products that are closely related.;C) the set of all product lines and individual products that a firm sells.;D) something offered by manufacturers but not by retailers.;E) None of the above.;29. Which of the following is NOT one of the consumer product classes discussed in the text?;A) Imitation products;B) Shopping products;C) Convenience products;D) Specialty products;E) Unsought products;30. ______________ are products a consumer needs but isn't willing to spend much time and effort shopping for.;A) Unsought products;B) Homogeneous shopping products;C) Specialty products;D) Heterogeneous shopping products;E) Convenience products;31. Impulse products are;A) bought quickly--as unplanned purchases--because of a strongly felt need.;B) any products that consumers search for because of a strongly felt craving.;C) any convenience products that are bought often and routinely.;D) products that potential customers do not want yet or know they can buy.;E) All of the above.;32. During a heavy rainstorm, Avery Battle slipped into a drugstore and bought an umbrella--just like the one he had at home--for $15.00 plus tax. In this case, the umbrella is;A) a shopping product.;B) an unsought product.;C) an emergency product.;D) an impulse product.;E) a specialty product.;33. Consumer products which customers see as basically the same and want to buy at the lowest price are called;A) homogeneous shopping products.;B) comparison products.;C) unsought products.;D) convenience products.;E) heterogeneous shopping products.;34. A producer that is selling all its products under one brand name is using ______________ brand.;A) a generic;B) a licensed;C) a national;D) an individual;E) a family;35. A "dealer brand" is sometimes called a ______________ brand.;A) local;B) manufacturer;C) private;D) regional;E) national;36. Dealer brands, compared to manufacturer brands, usually offer wholesalers and retailers;A) higher gross margins.;B) faster turnover at reduced selling costs.;C) products which are presold to target customers.;D) more prestige.;E) less risk.;37. Which of the following is NOT one of the text's product life cycle stages?;A) Market penetration;B) Market introduction;C) Sales decline;D) Market growth;E) Market maturity;39. Total industry profits reach their maximum during the __________ stage of the product life cycle.;A) sales decline;B) market development;C) market introduction;D) market growth;E) market maturity;40. Competition is toughest in which of the following product life cycle stages?;A) market growth.;B) market maturity.;C) market development.;D) market introduction.;41. During the SALES DECLINE stage of the product life cycle;A) no profits are earned.;B) price competition usually declines.;C) brand loyalty declines.;D) monopoly is typical.;E) firms with strong brands may make profits almost until the end.;42. A new product idea is more likely to move quickly through the early stages of the product life cycle when;A) the product is compatible with the values and experiences of target customers.;B) the product can be given a trial.;C) the product's advantages are easy to communicate.;D) the product is easy to use.;E) All of the above are correct.;43. During the introduction stage of the product life cycle;A) most products achieve intensive distribution.;B) industry profits are at their highest.;C) promotion is likely to be needed to build primary demand.;D) "me-too" products quickly take market share away from the innovator.;E) None of the above is true.;44. Concerning the product life cycle;A) individual products may enter and leave the market at any stage.;B) a successful introduction almost guarantees that the product will remain a success over the life cycle.;C) profits and sales begin to decline in the maturity stage.;D) All of the above are true.;E) None of the above is true.;45. According to the text, a "new product" is one that is;A) unique.;B) new in any way for the company concerned.;C) completely new physically and conceptually.;D) physically changed.;E) None of the above.;46. According to the FTC, for a producer to call a product "new," the product;A) must be no more than two months old.;B) must have achieved brand insistence.;C) must be entirely new or changed in a functionally significant or substantial respect.;D) must have been changed in some way during the last year.;E) Both A and C.;47. The last step in the new-product development process is;A) commercialization.;B) idea evaluation.;C) development.;D) screening.;E) idea generation.;48. The legal obligation of sellers to pay damages to individuals who are injured by defective or unsafely designed products is called;A) breach of warranty.;B) rule of reason.;C) product liability.;D) design enforcement.;E) product responsibility.;49. Which of the following statements about organizing for new-product development is TRUE?;A) Few new-product ideas fail when product managers control the new-product development process.;B) The specific organization arrangement may not be too important--as long as there is top-level support.;C) Marketing managers should control new-product development.;D) New-product development departments or committees usually cause delays and should be avoided.;E) All of the above are true.;50. Which of the following is NOT an example of an organizational buyer?;A) a woman buying cookware to sell to her friends and neighbors.;B) a sales rep buying a new necktie to make a good impression.;C) a wholesaler buying a delivery truck.;D) a government buyer purchasing a new desk for the mayor's office.;E) None of the above is a good example.
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