Question 1

Which of the following statements is true of a specialty product?

Accepted Answer

A)  It is widely distributed in a geographic area so that sufficient quantities can be sold.
B)  It is marketed using selective, status-conscious advertising to maintain its exclusive image.
C)  It is easily substituted with products that have the same features.
D)  It is unknown to a potential buyer or a known product that the buyer does not actively seek.E) B) and D)
F) A) and B)

Question 2

Which of the following statements is true of an implied warranty?

Accepted Answer

A)  It prohibits other firms from using a brand or part of a brand without permission.
B)  It gives the impression of environmental friendliness to a product.
C)  It ranges from simple statements to extensive documents written in technical language.
D)  It comes with the sale of every product under the Uniform Commercial Code.E) None of the above
F) A) and D)

Question 3

In the context of product modification, reducing a product's quality:

Accepted Answer

A)  provides new opportunities for market segmentation.
B)  lets a manufacturer lower the price of the product.
C)  results in increased brand loyalty or new opportunities for market segmentation.
D)  helps firms cater to the upper classes effectively.E) A) and D)
F) A) and C) B

Question 4

Three Arrows Inc. is a company that manufactures bags from recycled paper. Its marketers receive complaints that the bags get wet easily and tear after a few weeks of use. They decide to respond to their customers' complaints by using a thicker, waterproof paper. This is an example of _____.

Accepted Answer

A)  product placement
B)  functional modification
C)  planned obsolescence
D)  quality modificationE) None of the above
F) B) and C)

Question 5

Discuss the concept of planned obsolescence.

Accepted Answer

Answers will vary. Planned obsolescence is a term commonly used to describe the practice of modifying products so that those that have already been sold become obsolete before they actually need replacement. For example, products such as printers and cell phones become obsolete because technology changes so quickly.Some argue that planned obsolescence is wasteful; some claim it is unethical. Marketers respond that consumers favor style modifications because they like changes in the appearance of goods such as clothing and cars. Marketers also contend that consumers, not manufacturers and marketers, decide when styles are obsolete.

Question 6

The most obvious function of packaging is to:

Accepted Answer

A)  secure the right of a company to use a brand or part of a brand.
B)  protect a brand name from being declared a generic product name.
C)  even out seasonal sales patterns.
D)  contain products that are liquid, granular, or otherwise divisible.E) B) and D)
F) A) and B)

Question 7

Compare the four categories of consumer products with examples of each category.

Accepted Answer

Answers will vary. Convenience products ...

Question 8

Discuss the significance of product mix width and product line depth in marketing.

Accepted Answer

Answers will vary. Product mix width (or breadth) refers to the number of product lines an organization offers. Product line depth is the number of product items in a product line. Firms increase the width of their product mix to diversify risk. To generate sales and boost profits, firms spread risk across many product lines rather than depend on only one or two. Firms also widen their product mix to capitalize on established reputations. Firms increase the depth of their product lines to attract buyers with different preferences, to increase sales and profits by further segmenting the market, to capitalize on economies of scale in production and marketing, and to even out seasonal sales patterns.

Question 9

The universal product code (UPC) system and scanners are used in scanner-based research.

Accepted Answer

A) True 
 B)False

Question 10

The three aspects of packaging that are especially important in international marketing are product line extension, product mix width, and brand equity.

Accepted Answer

A) True 
 B)False

Question 11

Explain the importance of product offerings in creating a marketing mix.

Accepted Answer

Answers will vary. The product offering,...

Question 12

Which of the following statements is true of product lines?

Accepted Answer

A)  They limit the product choices offered to customers to one or two product items.
B)  They provide economies of scale in advertising.
C)  They require greater transportation and warehousing costs than product items.
D)  They increase a firm's manufacturing and inventory costs.E) B) and D)
F) C) and D)

Question 13

Which of the following statements is true of trademarks?

Accepted Answer

A)  Trademark rights are effective from the date of registration.
B)  Rights to trademarks are also given to generic product names.
C)  Trademark protection must be renewed every year.
D)  Rights to trademarks last as long as the mark is used.E) All of the above
F) C) and D)

Question 14

Yater's Inc. is a food and beverage company based in the United States. The company decides to market and sell its products in all European countries under the same brand name. In this scenario, Yater's Inc. has decided to use a(n)  _____.

Accepted Answer

A)  transactional marketing strategy
B)  co-branding strategy
C)  one-brand-name strategy
D)  individual branding strategyE) B) and C)
F) A) and B)

Question 15

The key distinction between consumer products and business products is their intended use.

Accepted Answer

A) True 
 B)False

Question 16

Each product item in the product mix may require a separate marketing strategy.

Accepted Answer

A) True 
 B)False

Question 17

Specialty products normally require wide distribution in order to sell sufficient quantities to meet profit goals.

Accepted Answer

A) True 
 B)False

Question 18

Most major furniture manufacturers affix labels to their wares that explain the products' construction features, such as type of frame, number of coils, and fabric characteristics. This form of labeling is an example of _____.

Accepted Answer

A)  informational labeling
B)  persuasive labeling
C)  grade labeling
D)  promotional labelingE) None of the above
F) A) and C)

Question 19

Define express warranty and implied warranty.

Accepted Answer

Answers will vary. An express warranty i...

Question 20

Insurance, burial plots, and similar items fall under the convenience product category.

Accepted Answer

A) True 
 B)False

Exam 10: Product Concepts

Which of the following statements is true of a specialty product?

Correct Answer
verified

Which of the following statements is true of an implied warranty?

Correct Answer
verified

In the context of product modification, reducing a product's quality:

Correct Answer
verified
B

Three Arrows Inc. is a company that manufactures bags from recycled paper. Its marketers receive complaints that the bags get wet easily and tear after a few weeks of use. They decide to respond to their customers' complaints by using a thicker, waterproof paper. This is an example of _____.

Correct Answer
verified

Discuss the concept of planned obsolescence.

The most obvious function of packaging is to:

Correct Answer
verified

Compare the four categories of consumer products with examples of each category.

Correct Answer
verified
Answers will vary. Convenience products ...
View Answer

Discuss the significance of product mix width and product line depth in marketing.

The universal product code (UPC) system and scanners are used in scanner-based research.

Correct Answer
verified

The three aspects of packaging that are especially important in international marketing are product line extension, product mix width, and brand equity.

Correct Answer
verified

Explain the importance of product offerings in creating a marketing mix.

Correct Answer
verified
Answers will vary. The product offering,...
View Answer

Which of the following statements is true of product lines?

Correct Answer
verified

Which of the following statements is true of trademarks?

Correct Answer
verified

Yater's Inc. is a food and beverage company based in the United States. The company decides to market and sell its products in all European countries under the same brand name. In this scenario, Yater's Inc. has decided to use a(n) _____.

Correct Answer
verified

The key distinction between consumer products and business products is their intended use.

Correct Answer
verified

Each product item in the product mix may require a separate marketing strategy.

Correct Answer
verified

Specialty products normally require wide distribution in order to sell sufficient quantities to meet profit goals.

Correct Answer
verified

Most major furniture manufacturers affix labels to their wares that explain the products' construction features, such as type of frame, number of coils, and fabric characteristics. This form of labeling is an example of _____.

Correct Answer
verified

Define express warranty and implied warranty.

Correct Answer
verified
Answers will vary. An express warranty i...
View Answer

Insurance, burial plots, and similar items fall under the convenience product category.

Correct Answer
verified

Exam 10: Product Concepts

Which of the following statements is true of a specialty product?

Correct AnswerverifiedShow Answer

Which of the following statements is true of an implied warranty?

Correct AnswerverifiedShow Answer

In the context of product modification, reducing a product's quality:

Correct AnswerverifiedB

Three Arrows Inc. is a company that manufactures bags from recycled paper. Its marketers receive complaints that the bags get wet easily and tear after a few weeks of use. They decide to respond to their customers' complaints by using a thicker, waterproof paper. This is an example of _____.

Correct AnswerverifiedShow Answer

Discuss the concept of planned obsolescence.

The most obvious function of packaging is to:

Correct AnswerverifiedShow Answer

Compare the four categories of consumer products with examples of each category.

Correct AnswerverifiedAnswers will vary. Convenience products ...View AnswerShow Answer

Discuss the significance of product mix width and product line depth in marketing.

The universal product code (UPC) system and scanners are used in scanner-based research.

Correct AnswerverifiedShow Answer

The three aspects of packaging that are especially important in international marketing are product line extension, product mix width, and brand equity.

Correct AnswerverifiedShow Answer

Explain the importance of product offerings in creating a marketing mix.

Correct AnswerverifiedAnswers will vary. The product offering,...View AnswerShow Answer

Which of the following statements is true of product lines?

Correct AnswerverifiedShow Answer

Which of the following statements is true of trademarks?

Correct AnswerverifiedShow Answer

Yater's Inc. is a food and beverage company based in the United States. The company decides to market and sell its products in all European countries under the same brand name. In this scenario, Yater's Inc. has decided to use a(n) _____.

Correct AnswerverifiedShow Answer

The key distinction between consumer products and business products is their intended use.

Correct AnswerverifiedShow Answer

Each product item in the product mix may require a separate marketing strategy.

Correct AnswerverifiedShow Answer

Specialty products normally require wide distribution in order to sell sufficient quantities to meet profit goals.

Correct AnswerverifiedShow Answer

Most major furniture manufacturers affix labels to their wares that explain the products' construction features, such as type of frame, number of coils, and fabric characteristics. This form of labeling is an example of _____.

Correct AnswerverifiedShow Answer

Define express warranty and implied warranty.

Correct AnswerverifiedAnswers will vary. An express warranty i...View AnswerShow Answer

Insurance, burial plots, and similar items fall under the convenience product category.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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B

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary. Convenience products ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary. The product offering,...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary. An express warranty i...
View Answer

Correct Answer
verified