Question 1

The first stage in the product life cycle is known as what?

Accepted Answer

A)  Decline
B)  Growth
C)  Introduction
D)  MaturityE) None of the above
F) A) and B)

Question 2

Mobile marketing can help build brand awareness.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market?

Accepted Answer

A)  Product mix.
B)  Product line.
C)  Total product offer.
D)  Product matrix.E) None of the above
F) B) and C)

Question 4

Creative product differentiation can enable a small business to increase market share.

Accepted Answer

A) True 
 B)False

Question 5

In marketing today,packaging carries the added responsibility of:

Accepted Answer

A)  promotion and sales responsibility.
B)  gaining access to international markets.
C)  keeping product costs down.
D)  minimizing product liability.E) All of the above
F) B) and C)

Question 6

An effective channel of distribution does more than simply ensure that goods are transported efficiently from producer to buyer.

Accepted Answer

A) True 
 B)False

Question 7

Vending machines are used primarily to sell goods where consumers have little interest in convenience.

Accepted Answer

A) True 
 B)False

Question 8

What does a brand name assure for the buyer?

Accepted Answer

A brand name assures quality,r...

Question 9

The several product lines that a company offers for sale make up that organization's product mix.

Accepted Answer

A) True 
 B)False

Question 10

Mystic Beverages,a producer of soft drinks,wants to differentiate its products from those of other soft drink providers.To implement this strategy successfully will require Mystic to create recognizable differences in the physical product it offers.

Accepted Answer

A) True 
 B)False

Question 11

The combination of product lines offered by a manufacturer is called the firm's:

Accepted Answer

A)  total product offer.
B)  product mix.
C)  product portfolio.
D)  product matrix.E) A) and B)
F) A) and D)

Question 12

Mark believes he has found a sure-fire way to save money.He advises his friends,"Buy directly from the manufacturer.Any time intermediaries get involved,you'll pay a higher price.After all,every intermediary involved in the marketing process must charge enough to earn a profit." Mark's advice:

Accepted Answer

A)  is never true.Markets that make use of intermediaries can always provide goods at lower cost than those that rely on direct distribution.
B)  is not valid in many cases.Intermediaries do add costs to products,but they also create values by performing marketing functions efficiently.In many cases the values they create more than offset the costs.
C)  is impractical,because in most markets the distribution process is so complex that it is impossible to determine who the actual producer really is.
D)  is entirely correct.Intermediaries must charge a high enough price for the activities they perform to earn a profit,so using intermediaries must result in a higher price.E) A) and C)
F) A) and D)

Question 13

A firm's promotion mix consists of their pricing and distribution strategies.

Accepted Answer

A) True 
 B)False

Question 14

Category killer stores tend to compete mainly on the basis of superior service.

Accepted Answer

A) True 
 B)False

Question 15

A long-run pricing objective of almost all firms is to optimize profit.

Accepted Answer

A) True 
 B)False

Question 16

The purpose of a brand name is to establish an image of generic goods or services.

Accepted Answer

A) True 
 B)False

Question 17

Direct mail is usually the best advertising medium to reach specific target markets.

Accepted Answer

A) True 
 B)False

Question 18

Successful product differentiation:

Accepted Answer

A)  is prohibited if it restricts price competition and market access.
B)  of consumer goods is determined exclusively by price.
C)  is less important due to the growth of the Internet.
D)  can be based on either real or perceived differences in products.E) A) and D)
F) None of the above

Question 19

Direct selling has all but disappeared as a major form of non-store retailing because the trend toward two-income households means fewer opportunities for selling in the home.

Accepted Answer

A) True 
 B)False

Question 20

The marketing strategy where you improve the product and keep the product mix limited goes with what stage of the product life cycle?

Accepted Answer

A)  Growth
B)  Decline
C)  Introduction
D)  MaturityE) None of the above
F) A) and D)

Exam 15: Managing the Marketing Mix: Product, Price, Place, and Promotion

The marketing strategy where you improve the product and keep the product mix limited goes with what stage of the product life cycle?

Correct AnswerverifiedShow Answer

Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market?

Correct AnswerverifiedShow Answer

A long-run pricing objective of almost all firms is to optimize profit.

Correct AnswerverifiedShow Answer

The several product lines that a company offers for sale make up that organization's product mix.

Correct AnswerverifiedShow Answer

What does a brand name assure for the buyer?

Correct AnswerverifiedA brand name assures quality,r...View AnswerShow Answer

Successful product differentiation:

Correct AnswerverifiedShow Answer

Vending machines are used primarily to sell goods where consumers have little interest in convenience.

Correct AnswerverifiedShow Answer

Creative product differentiation can enable a small business to increase market share.

Correct AnswerverifiedShow Answer

A firm's promotion mix consists of their pricing and distribution strategies.

Correct AnswerverifiedShow Answer

The combination of product lines offered by a manufacturer is called the firm's:

Correct AnswerverifiedShow Answer

The first stage in the product life cycle is known as what?

Correct AnswerverifiedShow Answer

The purpose of a brand name is to establish an image of generic goods or services.

Correct AnswerverifiedShow Answer

Direct selling has all but disappeared as a major form of non-store retailing because the trend toward two-income households means fewer opportunities for selling in the home.

Correct AnswerverifiedShow Answer

Mark believes he has found a sure-fire way to save money.He advises his friends,"Buy directly from the manufacturer.Any time intermediaries get involved,you'll pay a higher price.After all,every intermediary involved in the marketing process must charge enough to earn a profit." Mark's advice:

Correct AnswerverifiedShow Answer

Mystic Beverages,a producer of soft drinks,wants to differentiate its products from those of other soft drink providers.To implement this strategy successfully will require Mystic to create recognizable differences in the physical product it offers.

Correct AnswerverifiedShow Answer

Direct mail is usually the best advertising medium to reach specific target markets.

Correct AnswerverifiedShow Answer

In marketing today,packaging carries the added responsibility of:

Correct AnswerverifiedShow Answer

An effective channel of distribution does more than simply ensure that goods are transported efficiently from producer to buyer.

Correct AnswerverifiedShow Answer

Category killer stores tend to compete mainly on the basis of superior service.

Correct AnswerverifiedShow Answer

Mobile marketing can help build brand awareness.

Correct AnswerverifiedShow Answer

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A brand name assures quality,r...
View Answer

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