Marketing Final Exam

Product 5 inez believes that makeup is the most

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Unformatted text preview: &E Model Product OBJ: 10-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 4. Given the many differences in majors available, living options, and image differences, universities would be classified as a heterogeneous shopping product for most people. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Comprehension REF: 158 OBJ: 10-2 KEY: CB&E Model Product 5. Inez believes that makeup is the most important part of her wardrobe. She spends considerable time comparing the prices, skin tones, and color options available at various cosmetics counters in department stores. For Inez, makeup is a convenience product. ANS: F For Inez, makeup is a shopping product. PTS: 1 REF: 158 Thinking KEY: CB&E Model Product OBJ: 10-2 TOP: AACSB Reflective MSC: BLOOMS Application 6. Rolex watches are very expensive and can only be purchased in high-end jewelry stores located in large metropolitan areas. Most buyers will accept no substitutes. Rolex watches are an example of a shopping product. ANS: F This is an example of a specialty product. PTS: 1 REF: 158 Thinking KEY: CB&E Model Product OBJ: 10-2 TOP: AACSB Reflective MSC: BLOOMS Application 7. A product unknown to the potential buyer or a known-product that the buyer does not actively seek is referred to as an undesirable product. ANS: F This is an unsought product. PTS: 1 REF: 159 Thinking KEY: CB&E Model Product OBJ: 10-2 TOP: AACSB Reflective MSC: BLOOMS Knowledge 8. Coca-Cola is one of the world’s largest manufacturers of beverages. It makes over 2,800 different beverage products, including sparkling drinks, waters, juices, juice drinks, teas, coffees, sports drinks, and energy drinks. The great variety of beverages made by Coca-Cola represents its product mix. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Application REF: 159 OBJ: 10-3 KEY: CB&E Model Product 9. Product modification occurs when changes are made in how the product functions, its quality, or some aesthetic characteristic of the product. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Knowledge REF: 160 OBJ: 10-3 KEY: CB&E Model Product 10. Chef’s Catalog built its reputation on selling the highest-quality baking ingredients. The catalog retailer has added a line of fine kitchen tools and wants its customers to think of the retailer as a place to buy everything needed to bake the finest breads and desserts––not just for buying the ingredients. The marketing term for changing consumers’ perceptions of the Chef’s Catalog is segmentation. ANS: F Changing consumers’ perceptions is called repositioning. PTS: 1 REF: 161 Thinking KEY: CB&E Model Product OBJ: 10-3 TOP: AACSB Reflective MSC: BLOOMS Application 11. Apple is known for its Macintosh and iPod products. Apple recently added the iPhone product to its list of products. The addition of the iPhone was an example of a product line extension for the company. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Application R...
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