Question 1

Which of the following is considered a durable good?
A)silverware
B)caviar
C)marketing research
D)chewing gum
E)glue

Accepted Answer

Silverware is considered a durable good because it is a long-lasting item that can be used repeatedly over a extended period of time.

Question 2

Business products are also referred to as __________.
A)B2B products
B)121 products
C)2N1 products
D)INC products
E)2B1 products

Accepted Answer

B2B stands for business-to-business, meaning products and services that are sold from one business to another. This term is commonly used interchangeably with "business products." The other options, such as 121 or 2N1, are not common terms used to refer to business products.

Question 3

Services refer to
A)tangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
B)intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
C)activities provided to complement a tangible good-such as technical support for a computer.
D)any activity required for the production of a good that cannot be completed "in-house" and must be outsourced to another firm.
E)the human (non-mechanical) component (the workforce) that is part of the manufacturing process.

Accepted Answer

Services are intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. Unlike tangible goods, services cannot be touched or seen, but they provide value and benefits to the customers. Examples of services include consulting, education, healthcare, transportation, and entertainment.

Question 4

The division of products into durable and nondurable goods is to __________.
A)comply with governmental guidelines
B)address issues of environmental concern
C)clarify classification in IS09000
D)classify products for tax purposes
E)provide direction for marketing actions

Accepted Answer

The division of products into durable and nondurable goods helps provide direction for marketing actions, such as pricing, promotion, and distribution strategies. It helps companies understand how consumers use and purchase their products, and how they should be marketed to effectively communicate their benefits.

Question 5

In marketing, an idea is
A)a thought that leads to an action.
B)an inspiration that evolved from market research.
C)an observation about a series of events.
D)a concept explaining the behavior of an individual or group.
E)an observation about an individual or group and how they use a service or product.

Accepted Answer

An idea in marketing is typically a thought that leads to an action, as it involves conceptualizing a strategy or plan that can be implemented to achieve marketing goals.

Question 6

Advertising is important for products such as Butterfinger candy bars and Dasani bottled water that is purchased frequently and at relatively low cost.Wide distribution in retail outlets is essential.Why?
A)They are highly sought brand sensitive goods that one purchases from a wholesaler.
B)They are unsought products, so advertising targets consumers' impulsiveness.
C)They are nondurable goods and easily substitutable so consumers need to be reminded of their existence.
D)They are shopping products and can easily go out of stock.
E)They are semidurable goods, and advertising helps to maintain high inventories.

Accepted Answer

Butterfinger candy bars and Dasani bottled water are nondurable goods that are easily substitutable. Thus, advertising is necessary to remind consumers of their existence and encourage them to purchase these products over their substitutes. Wide distribution in retail outlets is also crucial for easy accessibility to the target market.

Question 7

Products that usually last over many uses, such as cars and appliances are referred to as
A)enduring goods.
B)durable goods.
C)perpetual goods.
D)reliability products.
E)nondisposable goods.

Accepted Answer

Durable goods are products that are designed to last over multiple uses. Examples include cars, appliances, and furniture. These products are typically more expensive than non-durable goods and are purchased less frequently, often requiring significant investment.

Question 8

Business products are also referred to as __________ products.
A)manufacturing
B)industrial
C)business services
D)support
E)maintenance

Accepted Answer

Business products are also known as industrial products, as they are typically used in the production process or for resale to other businesses. Manufacturing, business services, support, and maintenance may all be types of business products or related to them, but they do not encompass the full range of products sold to businesses.

Question 9

Services are a significant part of the U.S.economy, exceeding __________ percent of its gross domestic product (GDP).
A)19
B)27
C)30
D)40
E)55

Accepted Answer

The answer of Services are a significant part of the...

Question 10

A durable good is defined as a(n)
A)item consumed in one or a few uses.
B)item that usually lasts over an extended number of uses.
C)item that lasts at least one year without becoming obsolete.
D)product purchased for ultimate consumer use.
E)product used in the production of other products.

Accepted Answer

A durable good is defined as an item that usually lasts over an extended number of uses. This includes items such as appliances, furniture, and electronics that are expected to last for several years.

Question 11

Products that organizations buy that assist in providing other products for resale are referred to as __________.
A)reseller goods
B)wholesale goods
C)ancillary products
D)retail assortment
E)business products

Accepted Answer

Business products are products that are purchased by organizations to support their own production or operations, or for resale to their customers. These products can include raw materials, equipment, supplies, and other goods that are not intended for personal use.

Question 12

Industrial products are also referred to as __________ products.
A)manufacturing
B)business
C)organizational services
D)support
E)maintenance

Accepted Answer

Industrial products are often referred to as business products because they are used in the production of other goods or services, for resale, or for use in an organization's operations.

Question 13

In marketing, a(n) __________ is a thought that leads to an action.
A)observation
B)inspiration
C)innovation
D)perception
E)idea

Accepted Answer

An idea is a thought or suggestion that can lead to an action, especially in the context of marketing where ideas are developed into strategies or campaigns.

Question 14

Which of the following would most likely be considered a consumer product?
A)ball bearings
B)back hoe
C)printing press
D)suitcase
E)mainframe computer

Accepted Answer

A suitcase is a product designed for personal use or consumption and therefore falls under the category of consumer product. The other options are industrial products used for business purposes.

Question 15

Which of the following statements regarding "product" is most accurate?
A)Nondurable goods would rely more on advertising while durable goods would benefit more from a personal selling strategy.
B)Durable goods would benefit more on advertising while nondurable goods would benefit more from a personal selling strategy.
C)There is little if any difference between marketing actions between durable and nondurable goods; the key difference occurs between shopping and specialty products.
D)There is little if any difference between marketing actions between durable and nondurable goods; the key difference occurs between for profit and not for profit products and services.
E)The durable and nondurable classification applies to services as well as to products.

Accepted Answer

This statement is most accurate as non-durable goods such as food, cleaning products, and personal care items have a shorter lifespan and require frequent replenishment. Therefore, it's essential to reach out to the target audience using advertising. Conversely, durable goods, such as appliances, cars, and electronics, require a more significant investment, and most consumers usually research the product and make informed decisions. This approach will benefit from a personal selling strategy.

Question 16

Among consumer products, advertising and wide distribution are especially important for
A)durable goods.
B)unsought products.
C)nondurable goods.
D)production goods.
E)semidurable goods.

Accepted Answer

Nondurable goods are products that are consumed or used up in a short period of time, such as food, toiletries, and cleaning supplies. As a result, advertising and wide distribution are crucial for maintaining customer demand, as consumers need to be constantly reminded to replenish their supplies.

Question 17

Products that are purchased by ultimate consumers are referred to as __________.
A)generic goods
B)shopping goods
C)personal items
D)commercial items
E)consumer products

Accepted Answer

The term "consumer products" specifically refers to products that are purchased by ultimate consumers. Therefore, choice E is the best answer. Generic goods refers to unbranded, basic products. Shopping goods are products that consumers compare and shop for, such as clothing or electronics. Personal items could refer to any type of individual's possessions. Commercial items typically refer to products that are used by businesses rather than individuals.

Question 18

Consumer products refer to
A)products purchased by ultimate consumers.
B)products used in the production of other items.
C)products a consumer will make an effort to seek out and buy.
D)items the consumer purchases frequently and with a minimum of shopping effort.
E)products purchased for individual or private use rather than as a gift or for one's job.

Accepted Answer

Consumer products are products that are purchased by ultimate consumers for their personal or household use, rather than for resale or use in producing other items.

Question 19

In marketing, a(n) __________ generally includes not only physical goods, but services and ideas as well.
A)action
B)product
C)concept
D)inspiration
E)observation

Accepted Answer

A product is a bundle of physical goods, services, and ideas that are offered to the market to satisfy customers' needs and wants. It is the core element of the marketing mix and includes tangible objects, services, events, persons, places, organizations, and ideas.

Question 20

Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as __________.
A)services
B)enhancements
C)performance factors
D)marketing activities
E)customer facilitation

Accepted Answer

The definition provided clearly matches that of services, making it the most appropriate choice. The other options do not accurately describe the concept. Enhancements could refer to improvements made to a product or service, performance factors could be metrics for evaluating performance, marketing activities are the activities performed to promote the product or service, and customer facilitation refers to assistance provided to customers in using the product or service.

Quiz 10: Developing New Products and Services

Which of the following is considered a durable good?

Business products are also referred to as __________.

Services refer to

The division of products into durable and nondurable goods is to __________.

In marketing, an idea is

Advertising is important for products such as Butterfinger candy bars and Dasani bottled water that is purchased frequently and at relatively low cost.Wide distribution in retail outlets is essential.Why?

Products that usually last over many uses, such as cars and appliances are referred to as

Business products are also referred to as __________ products.

Services are a significant part of the U.S.economy, exceeding __________ percent of its gross domestic product (GDP) .

A durable good is defined as a(n)

Products that organizations buy that assist in providing other products for resale are referred to as __________.

Industrial products are also referred to as __________ products.

In marketing, a(n) __________ is a thought that leads to an action.

Which of the following would most likely be considered a consumer product?

Which of the following statements regarding "product" is most accurate?

Among consumer products, advertising and wide distribution are especially important for

Products that are purchased by ultimate consumers are referred to as __________.

Consumer products refer to

In marketing, a(n) __________ generally includes not only physical goods, but services and ideas as well.

Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as __________.