quiz008 - Chapter 08 Quiz - Elements of Product Planning...

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Chapter 08 Quiz - Elements of Product Planning for Goods and Services 1. "Product" means: 1. all the services needed with a physical good. 2. a physical good with all its related services. 3. the need-satisfying offering of a firm. 4. all of a firm's producing and distribution activities. 5. a well-packaged item with a well-advertised brand name. Feedback: LearnObj: 1 Page: 193 2. Regarding quality: 1. the best credit card may not be the one with the highest credit limit. 2. the best clothing may not be a pair of slacks, but a pair of jeans. 3. the best computer may not be the most powerful one. 4. All of the above are true. 5. None of the above is true. Feedback: LearnObj: 1 Pages: 193-194 3. A company with a large product assortment might 1. have many product lines with little selection in each. 2. have a single product line. 3. have many individual products. 4. All of the above are true. 5. Only A and C are true. Feedback: LearnObj: 1 Page: 196 4. Which of the following conditions would not be favorable to branding? 1. Dependable and widespread availability is possible 2. Economies of scale in production 3. Fluctuations in product quality due to inevitable variations in raw materials
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4. Product easy to identify by brand or trademark 5. Demand is strong so the price can be high enough to be profitable Feedback: LearnObj: 3 Page: 198 5. Nonrecognition of the brand name of a firm's product is likely to be LEAST important for: 1. Coal 2. Photographic film 3. Lubricating oils for machinery 4. Cold tablets 5. Replacement auto repair parts Feedback: LearnObj: 3 Page: 199 6. Which of the following statements about the Lanham Act is TRUE: 1. It spells out what kinds of brand names can be protected. 2.
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quiz008 - Chapter 08 Quiz - Elements of Product Planning...

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