Chapter 9 - Chapter 9-Product Concepts 203 questions (29...

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Chapter 9—Product Concepts 203 questions (29 true/false, 152 multiple choice, 22 essay) MULTIPLE CHOICE 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 ANS: E PTS: 1 REF: 274 OBJ: 09-1 TYPE: Def TOP: 2. The _____ is the starting point in creating a marketing mix. a. price b. product c. distribution channel d. promotional media e. production line ANS: B PTS: 1 REF: 274 OBJ: 09-1 TYPE: Comp The product must be specified before other marketing mix variables can be planned. TOP: 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. ANS: C PTS: 1 REF: 274 OBJ: 09-1 TYPE: Comp The product is the first decision around which the others are based. TOP: 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
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ANS: A PTS: 1 REF: 274 OBJ: 09-1 TYPE: Def TOP: AACSB Reflective Thinking| TB&E Model Product
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5. In the long run, regardless of the effort put into the product management process, the most important factor determining if a consumer product will succeed or fail is: a. the product mix plan b. the way the firm implements its production strategy c. the marketing plan it selects for its products d. how well the manufacturer satisfies its customers' needs e. the competition encountered by the manufacturer ANS: D PTS: 1 REF: 274 OBJ: 09-1 TYPE: Comp Products succeed because they deliver benefits and satisfy customer needs. TOP: 6. 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 ANS: C PTS: 1 REF: 274 OBJ: 09-2 TYPE: Comp Business products are purchased for (1) use in the production of other goods or services, (2) use in an organization's operations, or (3) resale to other customers. TOP:
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This note was uploaded on 02/11/2012 for the course MARK 3371 taught by Professor Staff during the Spring '08 term at Texas Pan American.

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Chapter 9 - Chapter 9-Product Concepts 203 questions (29...

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