Question 1

division of products into durable and nondurable goods is to __________.
A) comply with NAICS guidelines
B) address issues of environmental concern
C) comply with ISO 9000 requirements
D) classify products for tax purposes
E) provide direction for marketing actions

Accepted Answer

The division of products into durable and nondurable goods provides direction for marketing actions, specifically in terms of how to market and promote these different types of products to consumers. This distinction helps companies determine the appropriate pricing, advertising, and distribution strategies for their products.

Question 2

product that has tangible attributes that a consumer's five senses can perceive is referred to as a(n)
A) service.
B) product concept.
C) good.
D) new idea.
E) artifact.

Accepted Answer

A good is a tangible product that can be perceived through a consumer's five senses. Services, on the other hand, are intangible and cannot be perceived through the five senses. Product concept refers to the idea or concept of a product, while new idea is a general term that does not necessarily refer to a tangible product. Artifact is a term that refers to a cultural, historical, or artistic object, and may not necessarily be a tangible consumer product.

Question 3

Which of the following statements regarding goods is MOST accurate?
A) In order to be classified as a good, an item must appeal to all five senses.
B) Music is not considered a good because it only involves a single sense-hearing.
C) In addition to appealing to the senses, some goods also have intangible attributes.
D) To market a good that contains visual attributes, you cannot use an auditory medium.
E) The aroma of chocolate chip cookies is considered an idea because it affects one's senses.

Accepted Answer

Some goods, such as luxury items or experiences, also have intangible attributes such as status, exclusivity, or emotional appeal that cannot be experienced through the senses alone. The other statements are not accurate. A is incorrect because goods do not have to appeal to all five senses. B is incorrect because music can be considered a good. D is incorrect because an auditory medium can still be used to market a visually appealing good. E is incorrect because the aroma of chocolate chip cookies is a physical sensation, not an idea.

Question 4

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

Accepted Answer

Nondurable goods typically have a shorter lifespan and need to be constantly replaced or replenished, making advertising and wide distribution crucial for their success. Examples of nondurable goods include food, beverages, toiletries, and cleaning products.

Question 5

late Steve Jobs oversaw or invented innovations that revolutionized six industries.Which industry below is NOT one of these six?
A) music
B) smartphones
C) personal computers
D) television
E) tablet computing

Accepted Answer

Steve Jobs did not revolutionize the television industry. While Apple did release a set-top box called Apple TV, it did not have the same level of impact as their other products in revolutionizing the industry.

Question 6

__________ is the marketing term for a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value.
A) idea
B) service
C) widget
D) utility bundle
E) product

Accepted Answer

The definition provided describes a product, which is the most appropriate option among the given choices. A widget is a specific type of product and not a general term. A service is an intangible product, but the definition includes tangible attributes as well. An idea can be marketed, but it is not a tangible product received in exchange for money. Utility bundle is not a commonly used marketing term.

Question 7

Goods can be divided into __________ goods and __________ goods.
A) functional; aesthetic
B) required; desired
C) tactile; conceptual
D) durable; nondurable
E) product; service

Accepted Answer

Goods can be classified into durable goods, which are products that last for a long period of time and can be used repeatedly, and nondurable goods, which are products that are used up quickly or have a short lifespan. Examples of durable goods include appliances, furniture, and vehicles, while examples of nondurable goods include food, clothing, and personal care products.

Question 8

Apple II,Macintosh,iPod,iPhone,MacBook Air,and iPad are all examples of a company's commitment to __________.
A) outselling their competitors
B) social responsibility
C) new product development
D) using renewable resources
E) respecting their workforce

Accepted Answer

All the products listed are examples of Apple's commitment to creating new and innovative products. The company is known for its focus on innovation and pushing the boundaries in technology, which is reflected in the release of these products.

Question 9

product is a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange
A) only for legal tender (money).
B) for providing value.
C) only for barter.
D) for a person's time and effort.
E) for money or something else of value.

Accepted Answer

A product can be exchanged for money or something else of value, such as goods or services, depending on the agreement between the buyer and seller.

Question 10

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

Accepted Answer

The term "product" in marketing refers to not only physical goods, but also services and ideas being marketed. Therefore, option D is the correct choice. Option A, "action", does not fit the definition of a product. Option B, "invention", refers to the creation of a new product/service/idea, rather than the product itself. Option C, "merchandise", is too limiting, as it only refers to physical goods being sold. Option E, "concept", is a possibility, but "product" is a more specific and appropriate term in the context of marketing.

Question 11

_________ is defined as an item consumed in one or a few uses.
A) durable good
B) convenience good
C) specialty good
D) shopping good
E) nondurable good

Accepted Answer

Nondurable goods are items that are consumed in one or a few uses, such as food, cleaning products, and toiletries. Durable goods, on the other hand, are items that are expected to last for a longer period of time, such as electronics, furniture, and vehicles. Convenience goods are items that consumers purchase frequently and with minimal effort, such as snacks or magazines, while specialty goods are unique or high-end items that consumers are willing to pay extra for, such as luxury cars or designer clothing. Shopping goods are items that consumers research and compare before making a purchase decision, such as appliances or furniture.

Question 12

Apple innovation that stores all your digital content and then pushes it to where it can then be sent to your other digital devices is referred to as
A) iPod
B) iCloud
C) iPad
D) iPhone
E) MacBook Air

Accepted Answer

The feature described in the question is iCloud, which is an Apple innovation that allows users to store their digital content and then access it from anywhere using their other devices. The other options listed (iPod, iPad, iPhone, MacBook Air) are all separate Apple products, but they do not have the specific feature described in the question.

Question 13

product refers to
A) a tangible good received in exchange for a person's time and effort.
B) intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
C) a good that has in some way been altered, combined, or improved and sold to organizational buyers consumers.
D) is a thought that leads to an action such as a concept for a new invention.
E) a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value.

Accepted Answer

Product can be classified as a good, service, or idea that satisfies consumers' needs and is exchanged for money or something else of value. A product can also consist of tangible (physical) and intangible (non-physical) attributes. Option E provides the most comprehensive definition of a product.

Question 14

good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is referred to as __________.
A) a widget
B) a product
C) a service
D) an idea
E) merchandise

Accepted Answer

A product is a good, service, or idea that is offered in exchange for money or something else of value. This can be a physical object (tangible attribute) or a service (intangible attribute) that satisfies the needs of a consumer. While the other options may be relevant in certain contexts, the most accurate and broadly applicable term for this description is "product".

Question 15

good has tangible attributes that a consumer's __________ can perceive.
A) cognitive intelligence
B) knowledge of past experiences
C) five senses
D) sixth sense
E) emotional intelligence

Accepted Answer

Good has tangible attributes that can be perceived through the five senses, such as taste, touch, smell, sight, and sound.

Question 16

product is a good,service,or idea consisting of a __________ that satisfy consumers' needs and is received in exchange for money or something else of value.
A) promise or commitment exchanged between a seller and a buyer
B) bundle of tangible and intangible attributes
C) bundle of tangible attributes
D) bundle of intangible attributes
E) bundle of tangible and intangible experiences

Accepted Answer

A product can be a good, service, or idea, but in any case, it consists of a bundle of tangible and intangible attributes that satisfy consumers' needs and are exchanged for money or something else of value. This bundle of attributes can include physical features, performance, design, packaging, branding, reputation, customer service, and various benefits and emotions that the product provides to the customer. Therefore, A, C, D, and E are not as accurate as B, which covers all the possible components of a product.

Question 17

nondurable 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 only for the use of ultimate consumers.
E) product used in the production of other products.

Accepted Answer

A nondurable good is an item that is consumed in one or a few uses, such as food, fuel, or cleaning supplies. It is not intended to last for an extended period of time or multiple uses.

Question 18

Items consumed in one or a few uses,such as food and fuel,are referred to as ________.
A) services
B) perishable goods
C) durable goods
D) disposable goods
E) nondurable goods

Accepted Answer

Nondurable goods are items that are consumed in a short period and have a limited lifespan, such as food and fuel. Perishable goods is also another term used to describe these types of goods. Services (A) are not physical goods, but rather activities or benefits provided to consumers. Durable goods (C) are items designed to last for an extended period, such as appliances or cars. Disposable goods (D) could be considered a synonym for nondurable goods, but it is not a commonly used term in economics.

Question 19

Which of the following statements regarding "goods" is MOST accurate?
A) Nondurable goods would rely more on advertising than durable goods.
B) Durable goods would benefit more on advertising than nondurable goods.
C) There is little if any difference between marketing actions between durable and nondurable goods.
D) Nondurable goods would rely more on personal selling than durable goods.
E) The durable and nondurable classification applies to services as well as to products.

Accepted Answer

Nondurable goods are typically low-cost items that customers purchase frequently, and therefore their demand is more influenced by short-term factors like price and promotion. Advertising plays a crucial role in creating brand awareness and persuading customers to choose one brand over another. On the other hand, durable goods are typically high-cost items that customers purchase infrequently, and hence their demand is more influenced by long-term factors like quality, features, and personal selling. Therefore, option A is the most accurate statement.

Question 20

company was rated by Fortune as the world's most admired company in 2011 and Bloomberg Businessweek perennially rates it as the most innovative company in the world.
A) IBM
B) Microsoft
C) 3M
D) Kodak
E) Apple

Accepted Answer

The company referred to in the statement is Apple, which was named the world's most admired company in 2011 by Fortune and is regularly rated as the most innovative company by Bloomberg Businessweek.

Quiz 10: Developing New Products and Services

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

product that has tangible attributes that a consumer's five senses can perceive is referred to as a(n)

Which of the following statements regarding goods is MOST accurate?

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

late Steve Jobs oversaw or invented innovations that revolutionized six industries.Which industry below is NOT one of these six?

__________ is the marketing term for a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value.

Goods can be divided into goods and goods.

Apple II,Macintosh,iPod,iPhone,MacBook Air,and iPad are all examples of a company's commitment to __________.

product is a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange

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

_________ is defined as an item consumed in one or a few uses.

Apple innovation that stores all your digital content and then pushes it to where it can then be sent to your other digital devices is referred to as

product refers to

good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is referred to as __________.

good has tangible attributes that a consumer's __________ can perceive.

product is a good,service,or idea consisting of a __________ that satisfy consumers' needs and is received in exchange for money or something else of value.

nondurable good is defined as a(n)

Items consumed in one or a few uses,such as food and fuel,are referred to as ________.

Which of the following statements regarding "goods" is MOST accurate?

company was rated by Fortune as the world's most admired company in 2011 and Bloomberg Businessweek perennially rates it as the most innovative company in the world.