Marketing Final Exam

Marketing Final Exam

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Unformatted text preview: egies are often the starting point. ANS: C The product is the first decision around which the others are based. PTS: 1 REF: 157 OBJ: 10-1 Thinking KEY: CB&E Model Product | CB&E Model Strategy TOP: AACSB Reflective MSC: BLOOMS Analysis 4. Which of the following is NOT an example of a product’s tangible feature? a. Brand equity b. Packaging c. Color d. Options e. Size ANS: A Brand equity is the value of company and brand names. PTS: 1 REF: 157 Thinking KEY: CB&E Model Product OBJ: 10-1 TOP: AACSB Reflective MSC: BLOOMS Analysis 5. When a greenhouse plant grower sells plants to nursery retailers, the grower is selling _____ products. a. specialty b. consumer c. convenience d. business e. unsought ANS: D Retailers resell the plants, so they are considered a business product. PTS: 1 REF: 158 Thinking KEY: CB&E Model Product OBJ: 10-2 TOP: AACSB Reflective MSC: BLOOMS Application 6. Rock-Tenn produces cardboard cartons to be used by companies in the food industry. Rock-Tenn is selling _____ products. a. specialty b. consumer c. business d. convenience e. unsought ANS: C 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. PTS: 1 REF: 158 Thinking KEY: CB&E Model Product OBJ: 10-2 TOP: AACSB Reflective MSC: BLOOMS Application 7. 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 d. the physical attributes of the product e. the amount of effort consumers spend to acquire the product ANS: E Products are classified by the amount of effort that is normally expended in the acquisition process. PTS: 1 REF: 158 Thinking KEY: CB&E Model Product OBJ: 10-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 8. There are many HD television sets on the market, and they vary so much on price, quality, and features that consumers often have trouble comparing them. An HD television would probably be considered a _____ product. a. convenience b. specialty c. heterogeneous shopping good d. homogeneous shopping good e. generic ANS: C Heterogeneous shopping products are essentially different, and consumers often have trouble comparing them. PTS: 1 REF: 158 Thinking KEY: CB&E Model Product OBJ: 10-2 TOP: AACSB Reflective MSC: BLOOMS Application 9. _____ 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 ANS: A This is the definition of convenience products. PTS: 1 REF: 158 Thinking KEY: CB&E Model Product OBJ: 10-2 TOP: AACSB Reflective MSC: BLOOMS Knowledge 10. 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. signif...
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This document was uploaded on 09/29/2013.

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