Deck 10: Product Concepts

Question 1

Eve Aura,a manufacturer of bath and beauty products,predominantly sells convenience products.Given this information,which is a characteristic of Eve Aura's products?

A) They are bought very rarely by consumers.
B) They require wide distribution in order to sell sufficient quantities.
C) They are purchased after more planning effort than specialty products.
D) They will be more expensive than shopping products.

Answer 1

B

Question 2

Which of the following best defines an unsought product?

A) A relatively inexpensive item that merits little shopping effort
B) Everything,both favorable and unfavorable,that a person receives in an exchange
C) A product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores
D) A product unknown to the potential buyer or a known product that the buyer does not actively seek

Answer 2

D

Question 3

Which of the following statements is true of a specialty product?

A) It is widely distributed in a geographic area so that sufficient quantities can be sold.
B) It is marketed using selective,status-conscious advertising to maintain its exclusive image.
C) It is easily substituted with products that have the same features.
D) It is unknown to a potential buyer or a known product that the buyer does not actively seek.

Answer 3

B

Question 4

Consumers usually buy a(n)_____ only after comparing several brands or stores on style,practicality,price,and lifestyle compatibility.

A) unsought product
B) specialty product
C) convenience product
D) shopping product

Question 5

Compared to convenience products,shopping products are:

A) less expensive.
B) found in fewer stores.
C) purchased without significant planning.
D) new products unknown to a potential buyer.

Question 6

Which of the following refers to everything,both favorable and unfavorable,that a person receives in an exchange?

A) Product
B) Design
C) Distribution
D) Promotion

Question 7

A(n)_________________ is a product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores.

A) shopping product
B) specialty product
C) unsought product
D) sought product

Question 8

A relatively inexpensive item that merits little shopping effort is called a(n)______________.

A) convenience product
B) shopping product
C) industrial product
D) unsought product

Question 9

Fournotts Corp.manufactures a special kind of filter that can purify water quickly,but consumers in the market are not aware of the product's existence.In this case,which of the following strategies will increase the sales of the filter?

A) Using status-conscious advertising
B) Using direct response advertising
C) Using selective advertising
D) Using customer-generated advertising

Question 10

Which of the following statements is true of convenience products?

A) A consumer is unwilling to shop extensively for convenience products.
B) These are products that are perceived to have similar features.
C) A consumer is unwilling to accept other substitutes for convenience products.
D) These are products that are not actively sought after by consumers.

Question 11

Which of the following statements is true of an unsought product?

A) Marketers of unsought products often use selective,status-conscious advertising to maintain a product's exclusive image.
B) Consumers buy unsought products regularly,usually without much planning and at inexpensive prices.
C) Companies dealing with unsought products must go directly to consumers through a salesperson,direct mail,or direct response advertising to create awareness about their products.
D) Consumers usually buy an unsought product only after comparing several brands or stores on style,practicality,price,and lifestyle compatibility.

Question 12

Define product and discuss the importance of product offerings in creating a marketing mix.

Question 13

The term product refers to which of the following?

A) Tangible goods
B) Services
C) Ideas
D) All of these are correct.

Question 14

A particular item for which consumers search extensively and are very reluctant to accept substitutes is called a(n)__________.

A) convenience product
B) shopping product
C) specialty product
D) unsought product

Question 15

Paulette goes to an appliance store to purchase a refrigerator.After comparing the technical features,prices,and durability of the various brands of refrigerators available,she purchases the cheapest and smallest in size.In this case,Paulette has purchased a _____.

A) shopping product
B) business product
C) specialty product
D) convenience product

Question 16

Identify which statement is true of specialty products.

A) They are made directly available to a consumer through direct mail.
B) They are relatively inexpensive and merit little shopping effort.
C) They are easily substituted with other products.
D) They are distributed to only a few outlets in a geographic area.

Question 17

Caroline Perfumes is a premium,exotic women's fragrance company.The manufacturers of Caroline Perfumes want to establish its products as specialty products.In this case,which of the following would be an objective of the manufacturers of Caroline Perfumes?

A) To employ mass advertising strategies
B) To increase the distribution network
C) To focus on establishing a brand name
D) To decrease the prices of the products

Question 18

The key distinction between consumer products and business products is their intended use.

Question 19

The definition of product includes only tangible goods.

Question 20

The term product refers to a tangible good.Services and ideas are not classified as products because of their intangible nature.

Question 21

Specialty products normally require wide distribution to sell sufficient quantities to meet profit goals.

Question 22

Which of the following refers to a group of closely related product items?

A) Product line
B) Product mix
C) Product mix width
D) Product line depth

Question 23

Prospective home buyers perceive houses as a heterogeneous shopping product,therefore they find it harder to compare homogeneous shopping products because the prices,quality,and features of such products are similar.

Question 24

Product modification may refer to which of the following?

A) Quality modification
B) Functional modification
C) Style modification
D) All of these are correct.

Question 25

Which of the following refers to changing one or more of a product's characteristics?

A) Product modification
B) Repositioning
C) Product line extension
D) Planned obsolescence

Question 26

Differentiate between business and consumer products and discuss various types of consumer products.

Question 27

A convenience product is a relatively inexpensive item that merits little shopping effort-that is,a consumer is unwilling to shop extensively for such an item.

Question 28

A shopping product is a particular item for which consumers search extensively and are very reluctant to accept substitutes.

Question 29

________________ is the number of product lines an organization offers.

A) A product item
B) The product mix
C) The product mix width
D) The product line depth

Question 30

Which of the following refers to a specific version of a product that can be designated as a distinct offering among an organization's products?

A) Product item
B) Unsought product
C) Specialty product
D) Consumer product

Question 31

All products that an organization sells constitute its ______________.

A) product line
B) product mix
C) product mix width
D) product line depth

Question 32

Which of the following describes product line depth?

A) It is the number of product items in a product line.
B) It is the number of product lines an organization offers.
C) It refers to all products that an organization sells.
D) It is a group of closely related product items.

Question 33

__________________ is the practice of modifying products so those that have already been sold become obsolete before they actually need replacement.

A) Product modification
B) Repositioning
C) Product line extension
D) Planned obsolescence

Question 34

Washers,dryers,refrigerators,and televisions are examples of unsought products.

Question 35

Elsem Foods Inc.is a company that manufactures packaged food.It sells several varieties of packaged food such as chips,cupcakes,candies,crackers,fruit juices,and carbonated drinks.It receives its largest profit from its newly introduced line of tropical fruit juices that are available in different flavors,such as orange,apple,lychee,and cranberry.Given this information,which of the following is a product item of Elsem Foods?

A) Chips
B) Candies
C) Orange juice
D) Carbonated drinks

Question 36

Which of the following statements is true of product items?

A) They are the test products that are released by a company before starting a product line.
B) They include all the products that an organization manufactures and sells to its consumers.
C) They are never made part of any product lines and are sold only in select outlets.
D) They can be easily distinguished from other products produced by the same organization.

Question 37

Salespeople actively seek leads for selling unsought products to potential buyers.

Question 38

Which of the following refers to adding additional products to an existing product line to compete more broadly in the industry?

A) Product line extension
B) Product modification
C) Repositioning
D) Planned obsolescence

Question 39

With homogeneous shopping products,consumers typically look for the lowest priced brand that has the desired features.

Question 40

Insurance,burial plots,and similar items fall under the convenience product category.

Question 41

A brand that obtains at least one-third of its earnings from outside its home country,is recognizable outside its home base of customers,and has publicly available marketing and financial data is called ____________.

A) a local brand
B) a global brand
C) brand equity
D) a brand mark

Question 42

Nestor's Nesties,a confectionery company,sells a variety of dark chocolates,milk chocolates,gummies,fruit juices,crackers,cereals,and even cheese.These products together constitute the company's _____.

A) brand symbol
B) product line
C) brand mark
D) product mix

Question 43

Discuss the concept of planned obsolescence.

Question 44

A cell phone manufacturing company is said to functionally modify one of its products if it:

A) introduces a sleek and stylish version of the cell phone with the same specifications.
B) reduces the price of the cell phone ahead of a sale.
C) introduces stylish headphones for the cell phone.
D) releases a software update to fix the cell phone's overheating problem.

Question 45

Each product item in the product mix may require a separate marketing strategy.

Question 46

Product line width refers to the number of product items in a product line.

Question 47

Which of the following statements is true of an organization's product mix?

A) Firms widen their product mix to capitalize on established reputations.
B) A wide product mix decreases sales and profit-making potential.
C) A wide product mix means that the product line is deep.
D) All product items in a product mix follow a standard marketing strategy.

Question 48

An organization's product mix includes all the products it sells.

Question 49

If a product is modified by reducing its quality,the marketer's likely intent is to:

A) provide new opportunities for market segmentation.
B) allow a manufacturer to lower the price of the product.
C) increase brand loyalty.
D) help firms cater more effectively to higher socioeconomic classes.

Question 50

A _____ occurs when a company's management decides to add products to an existing product line to compete more broadly in the industry.

A) product line reeling
B) product line extension
C) product line classification
D) product line contraction

Question 51

Remonet,a smartphone manufacturer,has launched its new products-HY15,HY20,and HY50.These smartphone models are part of its HY series.HY15,being the most budget friendly,attracts more consumers and achieves better sales.In this scenario,Remonet's HY15 smartphone model is an example of a(n)_____.

A) convenience product
B) product item
C) unsought product
D) product line

Question 52

Which of the following best defines brand equity?

A) The value of a company or brand name
B) The elements of a brand that cannot be spoken
C) A name,term,symbol,design,or combination thereof that identifies a seller's products and differentiates them from competitors' products
D) That part of a brand that can be spoken,including letters,words,and numbers

Question 53

Discuss product mix width and product line depth and how they are relevant for marketers.

Question 54

Three Arrows Inc.is a company that manufactures paper bags from recycled paper.Its marketers receive complaints that the bags get wet easily and tear after a few weeks of use.The company decides to respond to their customers' complaints by using a thicker,waterproof paper.This is an example of _____.

A) product placement
B) functional modification
C) planned obsolescence
D) quality modification

Question 55

Dunchen Moo,a manufacturer of dairy products,sells evaporated milk,flavored whipped cream,and yogurts.It markets a number of yogurts,including Dunchen All Natural,Dunchen Fruit on the Bottom,Dunchen Light & Fit,DunActive,and Dun-o-nino.The large variety of yogurts sold by the Dunchen brand is collectively an example of a _____.

A) market segment
B) target market
C) product mix
D) product line

Question 56

___________ is a name,term,symbol,design,or combination thereof that identifies a seller's products and differentiates them from competitors' products.

A) A brand
B) Positioning
C) A global brand
D) Brand equity

Question 57

Product line depth refers to the number of:

A) competitors present in the market for a particular product line.
B) product lines that an organization offers.
C) market segments a firm is willing to target or serve.
D) product items in a product line.

Question 58

Which of the following illustrates a difference between individual branding and family branding?

A) In individual branding,different brand names are used for different products,whereas in family branding,several different products are marketed under the same brand name.
B) Companies use individual branding when products do not vary in use or performance,whereas companies use family branding when products vary greatly in use or performance.
C) Individual branding identifies the brand of a part that makes up a product,whereas family branding identifies the entire product.
D) Individual branding is used when two brands receive equal treatment,whereas family branding is used when two brands borrow from each other's brand equity.

Question 59

Which statement is a reason why many retailers are creating and promoting their own captive brands?

A) Captive brands carry evidence of a store's affiliation and are available everywhere.
B) Captive brands are displayed separately from mainstream products in a store.
C) A captive brand strategy allows retailers to ask a price similar or equal to manufacturers' brands.
D) A captive brand strategy allows retailers to market private brands as inferior to manufacturers' brands.

Question 60

Which of the following statements is true of product lines?

A) They limit the product choices offered to customers to one or two product items.
B) They provide economies of scale in advertising.
C) They require greater transportation and warehousing costs than product items.
D) They increase a firm's manufacturing and inventory costs.

Question 61

The elements of a brand that cannot be spoken are called ____________.

A) a brand name
B) a brand mark
C) brand equity
D) brand loyalty

Question 62

Which of the following refers to placing two or more brand names on a product or its package?

A) Co-branding
B) Family branding
C) A trademark
D) A service mark

Question 63

_____________ is that part of a brand that can be spoken,including letters,words,and numbers.

A) A brand name
B) A brand mark
C) Brand equity
D) Brand loyalty

Question 64

Captive brands allow the retailer to ask a price similar or equal to manufacturers' brands,and the retailer typically displays captive brands alongside mainstream products.

Question 65

A service mark is the exclusive right to use a brand or part of a brand.

Question 66

Trademark rights come from registration rather than use.

Question 67

Family branding is about using different brand names for different products.

Question 68

A(n)________________ is a brand name owned by a wholesaler or a retailer.

A) captive brand
B) private brand
C) manufacturer's brand
D) individual brand

Question 69

In the case of private brands,overhead is low and there are no marketing costs.

Question 70

________________ identifies a product by class or type and cannot be trademarked.

A) A generic product name
B) A brand name
C) A service brand
D) Family branding

Question 71

Which of the following options defines brand loyalty?

A) It is the value of a company or brand name.
B) It is that part of a brand that can be spoken,including letters,words,and numbers.
C) It is a name,term,symbol,design,or combination thereof that identifies a seller's products and differentiates them from competitors' products.
D) It is a consistent preference for one brand over all others.

Question 72

_______________ is the exclusive right to use a tangible product brand or part of a product brand.

A) A service mark
B) Family branding
C) A trademark
D) A captive brand

Question 73

Which of the following correctly defines co-branding?

A) Placing two or more brand names on a product or its package
B) Marketing several different products under the same brand name
C) A trademark for a service
D) The exclusive right to use a brand or part of a brand

Question 74

A brand manufactured by a third party for an exclusive retailer,without evidence of that retailer's affiliation,is called a(n)______________.

A) captive brand
B) private brand
C) manufacturer's brand
D) individual brand

Question 75

Torque Roz,an automobile company,uses a unique tire design on its vehicles.A rival company was found copying the exact design for its automobiles.Torque Roz filed a legal claim against the rival company regarding this issue and won the lawsuit.In this scenario,Torque Roz's unique tire design is a registered _____.

A) captive brand
B) trademark
C) private brand
D) service mark

Question 76

The success of any business or consumer product depends in part on the ability of consumers in the target market to distinguish one product from another.

Question 77

_____ occurs when two brands receiving equal treatment (in the context of an advertisement)borrow from each other's brand equity.

A) Ingredient branding
B) Cooperative branding
C) Complementary branding
D) Family branding

Question 78

Which statement is true of trademarks?

A) Trademark rights are effective from the date of registration.
B) Rights to trademarks are also given to generic product names.
C) Trademark protection must be renewed every year.
D) Rights to trademarks last as long as the mark is used.

Question 79

Which statement indicates a key advantage of carrying private brands?

A) A manufacturer can decide to drop a brand or a reseller at any time or even become a direct competitor to its dealers.
B) Many manufacturers offer rapid delivery,enabling the dealer to carry less inventory.
C) If a dealer happens to sell a manufacturer's brand of poor quality,the customer may simply switch brands and remain loyal to the dealer.
D) Heavy advertising to the consumer by manufacturers helps develop strong consumer loyalties.

Question 80

Ingredient branding occurs when two brands receiving equal treatment borrow from each other's brand equity.