Question 1

A product strategy that includes a new product that is quite different from existing products

Accepted Answer

Introducing a new product that is quite different from existing products can be more challenging to manage as it may require significant resources and changes in the company's processes and infrastructure. It may also require educating consumers and building new distribution channels.

Question 2

The intermediary relationship that involves the transfer of ownership is

Accepted Answer

Merchant middlemen take ownership of the goods they sell, unlike agents or brokers who facilitate sales without taking ownership.

Question 3

A copyright provides protection for the duration of the creator's life, plus

Accepted Answer

A copyright provides protection for the duration of the creator's life plus 70 years. This is the standard term for works created after 1978 in the United States. The term may vary for works created before 1978 or in other countries.

Question 4

Euginie has written a poem that she plans to print inside the greeting cards she will publish. Her work is automatically protected but Euginie should include on the back of her greeting cards

Accepted Answer

The symbol © indicates that the work is copyrighted and who the copyright belongs to. This can protect Euginie's work from being plagiarized or copied without her permission. The date and other copyright information may also be useful, but including the © symbol is the most important.

Question 5

Love Languages is introducing an improved version of its tutoring targeted to students wanting more in-depth assistance using a CD format. The company has decided to continue to offer their original tutoring package and aim the new product at the original target market; therefore they are employing a ____ product strategy.

Accepted Answer

Love Languages is modifying its existing product by offering an improved version of tutoring in a CD format. The company is continuing to target the same market as before, but with a modified product. Therefore, the best choice is C, modified product/one market.

Question 6

The three considerations in building a channel of distribution are

Accepted Answer

Cost, coverage, and control are the three main considerations when building a channel of distribution. Cost refers to the expenses involved in setting up and operating the distribution channel. Coverage relates to the extent to which the channel enables the marketer to reach their target audience. Control refers to the degree of influence or authority that the marketer has over the channel members to ensure that they represent the brand correctly, provide good customer service, and follow the company's policies and procedures. Compatibility can also be a consideration, but it is often a prerequisite for effective distribution, rather than a specific consideration in its own right.

Question 7

Both the physical movement of products and the establishment of intermediary relationships to guide and support the movement of the products are included in

Accepted Answer

The answer of Both the physical movement of products and...

Question 8

When Gavin sells his product to a ____, the storage function is transferred to the intermediary.

Accepted Answer

Wholesalers purchase goods from the manufacturer and store them in their own warehouses before reselling them to retailers. In this process, the storage function is transferred to the wholesaler. Agents and brokers do not typically take ownership of the products, while common carriers are responsible for transportation rather than storage.

Question 9

The distinctive operating image of a product, including features such as size, shape, color or color combinations, texture, graphics, or even particular sales techniques, can be protected

Accepted Answer

The distinctive operating image of a product, including features such as size, shape, color or color combinations, texture, graphics, or even particular sales techniques, can be protected as trade dress. Trade dress refers to the visual appearance of a product that identifies and distinguishes it from other products in the marketplace. It includes the overall impression created by the product's packaging, design, shape, and color. Trade dress protection can be obtained through registration with the United States Patent and Trademark Office (USPTO) or through common law rights.

Question 10

Franklin sells his product in a bricks-and-mortar store and online. Franklin is using:

Accepted Answer

Dual distribution refers to the practice of selling a product through two or more different channels. In this case, Franklin is selling his product both in a bricks-and-mortar store and online. Therefore, Franklin is using dual distribution.

Question 11

Small businesses should view distribution costs as

Accepted Answer

Distribution costs should be viewed as an investment, as they are necessary expenses that can help a small business reach a wider customer base and ultimately generate more revenue. While they may be significant, they are not necessarily prohibitive or sunk costs that cannot be recovered.

Question 12

Match the term with its definition.
-A distribution system without intermediaries

Accepted Answer

A direct channel is a distribution system without intermediaries.

Answer: A 
 A brand is a unique name, symbol, or design that identifies a product or company.

Answer: B 
 Brand image refers to the perception or impression that consumers have of a brand.

Answer: D 
 A brandmark is a unique symbol or design that represents a brand.

Answer: E 
 A design patent protects a new, original, and ornamental design for an article of manufacture.

Answer: F 
 A direct channel is a distribution system without intermediaries.

Answer: G 
 An indirect channel is a distribution system that involves intermediaries such as wholesalers, retailers, or agents.

Answer: H 
 A patent is a legal monopoly granted by the government to an inventor for a certain period of time in exchange for public disclosure of the invention.

Answer: I 
 A service mark is a unique name, symbol, or design that identifies a service provider.

Answer: J 
 Trade dress refers to the visual appearance of a product or its packaging that creates a distinctive image or impression in the minds of consumers.

Answer: K 
 A trademark is a unique name, symbol, or design that identifies a product or company and is protected by law.

Answer: L 
 A utility patent protects a new and useful process, machine, manufacture, or composition of matter.

Question 13

The activities of physically moving a product is

Accepted Answer

The activities of physically moving a product from its point of origin to the end customer is known as logistics. This includes transportation, warehousing, inventory management, and other related activities. Therefore, option C is the correct answer. While channel management, distribution, and supply chain management are related concepts, they do not fully encompass the physical movement of goods.

Question 14

Since Love Languages has decided to sell its tutoring service on CD's through an online site as well as the traditional format of personal tutors, they are relying on

Accepted Answer

Love Languages is using both a direct channel of distribution (selling through their website) and an indirect channel of distribution (utilizing personal tutors). This is known as a dual distribution channel.

Question 15

Intermediaries exist because

Accepted Answer

Intermediaries provide more efficient means of distribution than the product producer, as they have developed specialized expertise, relationships, and networks that enable them to distribute products more efficiently and cost-effectively than the manufacturer could on their own.

Question 16

Match the term with its definition.
-The overall perception of a brand

Accepted Answer

Brand image refers to the overall perception that consumers have of a particular brand, including its reputation, quality, and identity.

Answer: A
 Brand refers to a unique name, symbol, design, or combination of these used to identify a product or service and differentiate it from competitors.

Answer: C
 Brand name is the word or words used to identify a product, service, or company.

Answer: D
 Brandmark is a unique symbol, design, or emblem that is used to identify a company or product.

Answer: J
 Trade dress refers to the visual appearance of a product, including its design, shape, color, and packaging.

Answer: K
 A trademark is a unique word, phrase, symbol, or design that is used to identify a particular product or service and distinguish it from competitors.

Answer: F
 A direct channel is a distribution channel in which a company sells its products or services directly to consumers, without the use of intermediaries or middlemen.

Answer: G
 An indirect channel is a distribution channel in which a company sells its products or services through intermediaries or middlemen, such as wholesalers or retailers.

Answer: H
 A patent is a legal right granted to an inventor for a fixed period of time, giving the inventor exclusive rights to make, use, and sell an invention.

Answer: I
 A service mark is a unique symbol, design, or name used to identify and distinguish a particular service from competitors.

Answer: E
 A design patent is a legal right granted to the owner of a unique and original design for a limited period of time, giving the owner exclusive rights to the design.

Answer: L
 A utility patent is a legal right granted to inventors for new and useful processes, machines, articles of manufacture, or compositions of matter for a limited period of time, giving the inventor exclusive rights to the invention.

Question 17

Match the term with its definition.
-A legal term indicating that a company has the exclusive right to use a brand to identify a service

Accepted Answer

A service mark is a legal term indicating that a company has the exclusive right to use a brand to identify a service.

Answer: K 
 A trademark is a legal term indicating that a company has the exclusive right to use a brand to identify a product.

Answer: J 
 Trade dress is a legal term indicating that a company has the exclusive right to use a specific look or appearance to identify their product or service.

Answer: H 
 A patent is a legal term indicating that a company has exclusive rights to an invention or process for a set period of time.

Answer: E 
 A design patent is a legal term indicating that a company has exclusive rights to the unique design of a product for a set period of time.

Answer: L 
 A utility patent is a legal term indicating that a company has exclusive rights to a useful invention or process for a set period of time.

Answer: A, C, D 
 Brand, brand name, and brandmark are all terms used to refer to a company's specific logo or symbol that identifies their product or service.

Answer: F 
 A direct channel refers to a distribution channel where a company sells their product or service directly to consumers.

Answer: G 
 An indirect channel refers to a distribution channel where a company sells their product or service through intermediaries or third-party vendors.

Question 18

Cooking for Collin, a small manufacturer of holiday cakes, sells its product through independent retailers and mail-order marketing. Cooking for Collin is relying on

Accepted Answer

The answer of Cooking for Collin, a small manufacturer of...

Question 19

Devon has registered protection for 14 years that covers his product's inseparable parts. Devon owns a:

Accepted Answer

The answer of Devon has registered protection for 14 years...

Question 20

Equine Express, a small firm that transports horses both domestically and internationally, flies the horses it purchases on one of two company-owned planes. Equine Express operates as a

Accepted Answer

Equine Express owns and operates its own planes to transport horses, making it a private carrier. Common carriers offer their services to the public, while public carriers are regulated and required to transport goods for anyone who requests it. Contract carriers operate under individual contracts and agreements.

Quiz 15: Product Development and Supply Chain Management