Question 1

A slotting allowance is money paid by a producer to a retailer to guarantee display of its merchandise.

Accepted Answer

A) True 
 B)False

Question 2

Representatives that sell installations to the business market often provide technical expertise along with tangible goods.

Accepted Answer

A) True 
 B)False

Question 3

Define benchmarking and discuss how it helps to improve a marketing strategy.

Accepted Answer

Benchmarking is a process in which an or...

Question 4

How might you categorize convenience products that customers constantly replenish in order to maintain a ready inventory?

Accepted Answer

A)   staples
B)   impulse items
C)   emergency items
D)   specialty itemsE) B) and D)
F) A) and D) A

Question 5

Which of the following are consumer shopping products?

Accepted Answer

A)   Coca-Cola and Gatorade
B)   bread, milk, and gasoline
C)   clothing, furniture, and appliances
D)   Rolex watches and BMW automobilesE) A) and D)
F) B) and C)

Question 6

What is a characteristic of the decline stage of the product life cycle?

Accepted Answer

A)   Profits can become negative.
B)   Distribution is increased.
C)   Available products exceed demand for the first time.
D)   Selective demand is cultivated.E) A) and B)
F) A) and C)

Question 7

Accessory equipment for the business market includes products such as hand tools, portable drills, and laptop computers.

Accepted Answer

A) True 
 B)False

Question 8

The moderately priced Days Inn and the upscale Four Seasons Hotel both provide sleeping accommodations, but their respective guests have considerably different expectations of service.Why do their expectations differ?

Accepted Answer

A)   Companies cannot standardize services.
B)   Service quality shows wide variations.
C)   Services are inseparable from their providers.
D)   Services have a high perishable rate.E) C) and D)
F) All of the above

Question 9

The marketing mix is the blend of product, price, distribution, and promotion that a firm develops as its marketing strategy to satisfy a chosen target market.

Accepted Answer

A) True 
 B)False

Question 10

Examples of impulse goods and services include stopping at a car wash on the way home or buying a pack of gum while standing in the checkout line.

Accepted Answer

A) True 
 B)False

Question 11

After researching and comparing several types of alarm clocks, Trisha decided on one that gives a choice of being wakened to music, bird calls, or ocean waves.In this case, what type of product would the alarm clock be classified as?

Accepted Answer

A)   shopping
B)   impulse
C)   convenience
D)   specialtyE) All of the above
F) B) and C) A

Question 12

Which of the following is a single product line?

Accepted Answer

A)   four-door sedans offered by various automakers
B)   125-passenger jets manufactured by Airbus and Boeing
C)   Hershey Kisses in a variety of flavours
D)   different brands of toothpasteE) C) and D)
F) B) and D)

Question 13

In the business market, what are computer paper, pencils, and office stationery examples of?

Accepted Answer

A)   maintenance items
B)   repair items
C)   operating supplies
D)   accessory equipmentE) C) and D)
F) B) and C)

Question 14

During what stage of the product life cycle does product differentiation and heavy advertising MOST often occur?

Accepted Answer

A)   maturity
B)   introductory
C)   growth
D)   declineE) A) and C)
F) B) and D)

Question 15

On the goods-services continuum, a meal at a fine restaurant is considered a pure good, even when one considers that excellent service is part of what one values in the experience.

Accepted Answer

A) True 
 B)False

Question 16

Identify and describe the stages of the product life cycle.

Accepted Answer

a. Introductory stage-Demand is stimulat...

Question 17

What type of product is marketed to consumers who may NOT yet recognize a need for them?

Accepted Answer

A)   specialty
B)   consumer
C)   convenience
D)   unsoughtE) A) and B)
F) B) and C)

Question 18

What is a series of related products offered by one company called?

Accepted Answer

A)   a product assortment
B)   a product mix
C)   a product formula
D)   a product lineE) B) and C)
F) A) and D) D

Question 19

Hershey's introduction of a sugar-free version of its candy bar is an example of line extension.

Accepted Answer

A) True 
 B)False

Question 20

Homogeneous products can be easily differentiated, often using obvious characteristics such as style, colour, and fit.

Accepted Answer

A) True 
 B)False

Exam 9: Product and Service Strategies

A slotting allowance is money paid by a producer to a retailer to guarantee display of its merchandise.

Correct AnswerverifiedShow Answer

Representatives that sell installations to the business market often provide technical expertise along with tangible goods.

Correct AnswerverifiedShow Answer

Define benchmarking and discuss how it helps to improve a marketing strategy.

Correct AnswerverifiedBenchmarking is a process in which an or...View AnswerShow Answer

How might you categorize convenience products that customers constantly replenish in order to maintain a ready inventory?

Correct AnswerverifiedA

Which of the following are consumer shopping products?

Correct AnswerverifiedShow Answer

What is a characteristic of the decline stage of the product life cycle?

Correct AnswerverifiedShow Answer

Accessory equipment for the business market includes products such as hand tools, portable drills, and laptop computers.

Correct AnswerverifiedShow Answer

The moderately priced Days Inn and the upscale Four Seasons Hotel both provide sleeping accommodations, but their respective guests have considerably different expectations of service.Why do their expectations differ?

Correct AnswerverifiedShow Answer

The marketing mix is the blend of product, price, distribution, and promotion that a firm develops as its marketing strategy to satisfy a chosen target market.

Correct AnswerverifiedShow Answer

Examples of impulse goods and services include stopping at a car wash on the way home or buying a pack of gum while standing in the checkout line.

Correct AnswerverifiedShow Answer

After researching and comparing several types of alarm clocks, Trisha decided on one that gives a choice of being wakened to music, bird calls, or ocean waves.In this case, what type of product would the alarm clock be classified as?

Correct AnswerverifiedA

Which of the following is a single product line?

Correct AnswerverifiedShow Answer

In the business market, what are computer paper, pencils, and office stationery examples of?

Correct AnswerverifiedShow Answer

During what stage of the product life cycle does product differentiation and heavy advertising MOST often occur?

Correct AnswerverifiedShow Answer

On the goods-services continuum, a meal at a fine restaurant is considered a pure good, even when one considers that excellent service is part of what one values in the experience.

Correct AnswerverifiedShow Answer

Identify and describe the stages of the product life cycle.

Correct Answerverifieda. Introductory stage-Demand is stimulat...View AnswerShow Answer

What type of product is marketed to consumers who may NOT yet recognize a need for them?

Correct AnswerverifiedShow Answer

What is a series of related products offered by one company called?

Correct AnswerverifiedD

Hershey's introduction of a sugar-free version of its candy bar is an example of line extension.

Correct AnswerverifiedShow Answer

Homogeneous products can be easily differentiated, often using obvious characteristics such as style, colour, and fit.

Correct AnswerverifiedShow Answer

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Benchmarking is a process in which an or...
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A

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a. Introductory stage-Demand is stimulat...
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D

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