Exam 3 Study Guide BUS312 FALL 2010

Exam 3 Study Guide BUS312 FALL 2010 - BUSINESS 312,...

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BUSINESS 312, PRINCIPLES OF MARKETING FALL 2010, PROFESSOR CHANDLER STUDY GUIDE EXAM 3 (Chapters 9,10,12,13) 1. A _____ is everything, both favorable and unfavorable, that a person receives in an exchange. It can be tangible, intangible, a service, an idea, or a combination of these things. a. brand equity b. quality c. warranty d. transaction e. product 2. The _____ is the starting point in creating a marketing mix. a. price b. product c. distribution channel d. promotional media e. production line 3. Why is creation of a product the starting point for the marketing mix? a. The production department must know what to produce first. b. Production strategy is the first of the four Ps listed in the marketing mix. c. Determination of the price, promotional campaign, and distribution network cannot begin until the product has been specified. d. Product development takes the longest amount of time to complete. e. Actually, the product does not have to be the starting point--promotional strategies are often the starting point. 4. Which of the following is NOT an example of a product's tangible feature? a. brand equity b. packaging c. color d. weight e. size 5. When PaintingsDirect, an online seller of contemporary original art, markets its art to home decor buyers for retailers, custom-framing stores, and intermediaries that supply furniture and home furnishings retailers, it is selling _____ products. a. specialty b. consumer c. business d. convenience e. unsought 6. The consumer product classification system is based on: a. how the market is segmented b. the way the products are manufactured c. the way products are used
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d. the physical attributes of the product e. the amount of effort consumers spend to acquire the product 7. _____ products are purchased with little shopping effort. These products typically are purchased regularly, usually with little planning, and require wide distribution. a. Convenience b. Specialty c. Branded shopping d. Unbranded shopping e. Generic 8. Arno stopped at a newsstand to buy today’s Wall Street Journal. While he was paying for his newspaper, he noticed a Sudoku puzzle book, which he also purchased. In this example, the puzzle book is an example of a(n) _____ product. a. specialty b. convenience c. business d. shopping e. unsought 10. Which of the following is the best example of a convenience product? a. the purchase of an engagement ring b. the weekly purchase of a TV Guide c. a one-of-a-kind bird bath for the garden d. a piano stool for the new piano e. the annual vacation cruise 11. The convenience product marketing strategy includes: a. wide distribution of the product b. higher than ordinary prices c. few retail outlets other than convenience stores d. significantly lower promotion budgets e. products that are not easily substitutable 12. Compared to the other classifications of consumer products, shopping products are: a. widely available so they need little or no promotion b. usually less expensive than convenience products
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Exam 3 Study Guide BUS312 FALL 2010 - BUSINESS 312,...

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