Question 1

________ refer to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible.
A) Co-brands
B) Line extensions
C) Services
D) Pure products
E) Horizontal extensions

Accepted Answer

Services are intangible products that are offered for sale and provide activities, benefits or satisfactions to customers. Co-brands and line extensions refer to different marketing strategies, while pure products and horizontal extensions are not relevant terms in this context.

Question 2

Which statement about convenience products is most likely true?
A) They are distributed exclusively in only one or a few outlets per market area.
B) They are products that consumers rarely consider buying.
C) Luxury cars and designer clothes are examples of convenience products.
D) Consumers need to make special purchasing efforts to buy such products.
E) They are bought by consumers frequently and with minimal comparison.

Accepted Answer

Convenience products are products that are bought frequently, easily, and with minimal comparison. Examples of convenience products include basic food items, household cleaning supplies, and personal care products. They are widely available and distributed in many outlets per market area to make them easily accessible to consumers. Luxury cars and designer clothes, on the other hand, are examples of specialty products, which are purchased infrequently with much effort and extensive search.

Question 3

Silkskin Cosmetics is advertising its newest line of eye makeup. Made from all-natural ingredients, the products are hypoallergenic. Silkskin is selling the products in specially designed tubes that make application easier. Which of the following is a core customer value for Silkskin's line of eye makeup?
A) the natural ingredients
B) the Silkskin brand
C) the products' revolutionary packaging
D) the hypoallergenic properties of the products
E) the desire for having beautiful eyes

Accepted Answer

The core customer value for Silkskin's line of eye makeup is the desire for having beautiful eyes, as this is the fundamental reason consumers would be interested in purchasing eye makeup.

Question 4

Which of the following is an industrial product categorized under materials and parts?
A) factory
B) cement
C) generator
D) drill presses
E) coal

Accepted Answer

Cement is a material used in construction and is categorized as a material and part.

Question 5

Susan has been redecorating her new condo for a year. She is carefully selecting every item. Susan finds an oriental rug that matches her color scheme and décor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of a(n)________.
A) shopping product
B) convenience product
C) specialty product
D) industrial product
E) capital product

Accepted Answer

This is an example of a specialty product, which is a product that consumers are willing to spend time and effort to search for and purchase because of its unique characteristics or brand identity. The fact that Susan carefully selected every item for her condo and found an oriental rug that matches her color scheme and décor perfectly suggests that she values the uniqueness of the rug and is willing to invest in it, even without searching for other options.

Question 6

________ products are consumer products and services with unique characteristics or brand identifications for which a significant group of buyers is willing to make more effort than usual to purchase.
A) Unsought
B) Obsolete
C) Intangible
D) Convenience
E) Specialty

Accepted Answer

Specialty products have unique characteristics or brand identifications that a significant group of buyers is willing to make an extra effort to purchase. Examples of specialty products include luxury cars, designer clothing, and high-end electronics.

Question 7

Specialty products are consumer products and services that customers generally buy ________.
A) to conduct business
B) frequently and immediately
C) based on ready availability
D) without making comparisons
E) with minimal effort

Accepted Answer

Specialty products are products that are unique or have special features, which means customers often buy them without making direct comparisons with alternative products. They are high-involvement products that customers purchase after careful consideration and research.

Question 8

Which of the following is an example of a shopping product?
A) toothpaste
B) fast food
C) laundry detergent
D) television
E) candy

Accepted Answer

A television is an example of a shopping product, as it is a higher ticket item that requires more consideration and research before purchasing. Toothpaste, fast food, laundry detergent, and candy are all examples of convenience products, which are low-cost items that consumers typically purchase frequently and with minimal effort or consideration.

Question 9

Which of the following is an example of a convenience product?
A) candy
B) furniture
C) life insurance
D) automobile
E) refrigerator

Accepted Answer

Convenience products are items that consumers purchase frequently, quickly, and with a minimum of effort. Candy is a classic example of a convenience product because it is widely available, inexpensive, and easy to purchase on the go. Furniture, life insurance, automobiles, and refrigerators are not typically considered convenience products because they generally require more time, effort, and consideration before purchase.

Question 10

Howard Schultz, the founder of Starbucks, positioned his bistros as "a third place" between work and home where patrons could share and enjoy a cup of coffee with friends. This illustrates ________.
A) an actual product
B) a core customer value
C) simple bundling
D) an augmented product
E) complex bundling

Accepted Answer

The concept of "a third place" represents a core customer value, as it is not just about the product (coffee) but also the experience and atmosphere that Starbucks provides for its customers.

Question 11

Major appliances, furniture, and clothing are typical examples of ________ products.
A) convenience
B) shopping
C) unsought
D) specialty
E) capital

Accepted Answer

Shopping products are those that consumers buy after comparing quality, price, and style in different stores before making a purchase decision. Major appliances, furniture, and clothing are examples of these products, as they are not bought frequently, and consumers will invest time in determining which ones best meet their needs before making a purchase.

Question 12

Laundry detergent, candy, magazines, and fast food are purchased frequently by customers. They are examples of ________ products.
A) unsought
B) shopping
C) convenience
D) specialty
E) industrial

Accepted Answer

Convenience products are products that customers buy frequently, immediately and without much effort. They are usually low-priced and readily available, such as laundry detergent, candy, magazines, and fast food.

Question 13

Consumer products that the buyer either does not know about or knows about but does not normally consider buying are referred to as ________ products.
A) convenience
B) unsought
C) specialty
D) shopping
E) industrial

Accepted Answer

Unsought products are those that the consumer does not actively seek out or know about, such as funeral services or insurance products.

Question 14

Which of the following is most likely a true statement about shopping products?
A) Shopping products tend to be less expensive than convenience products.
B) The existence of such products is generally unknown to consumers.
C) Shopping products are purchased less frequently than convenience products.
D) Consumers typically spend very little time comparing shopping products.
E) A life insurance policy is an example of a shopping product.

Accepted Answer

Shopping products are those that consumers buy with more deliberation and research, compared to convenience products that are purchased frequently and with minimal thought. Therefore, shopping products are purchased less frequently than convenience products, making option C the most likely true statement.

Question 15

Which of the following is an example of an industrial product grouped under capital items?
A) factory
B) cement
C) crude petroleum
D) coal
E) paint

Accepted Answer

A factory is an example of an industrial product that is grouped under capital items. Capital items are long-lasting goods that are used in the production process of other goods and services. A factory is used as a production facility for creating multiple products, and it is a long-lasting investment. Cement, crude petroleum, coal, and paint are all considered raw materials or supplies, which are not classified as capital items.

Question 16

Which of the following is a pure tangible good?
A) shampoo
B) a spa treatment
C) financial advice
D) a meal at a restaurant
E) a medical check-up

Accepted Answer

Shampoo is a physical product that can be touched, seen, and smelled. It is a pure tangible good. The other options involve services or intangible elements, such as advice or experiences.

Question 17

Which of the following is an example of an unsought product?
A) furniture
B) laundry detergent
C) refrigerator
D) toothpaste
E) life insurance

Accepted Answer

An unsought product is one that consumers do not actively seek out, such as life insurance. Furniture, laundry detergent, refrigerator, and toothpaste are all examples of products that consumers actively seek out and purchase.

Question 18

________ products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.
A) Shopping
B) Specialty
C) Capital
D) Convenience
E) Unsought

Accepted Answer

Convenience products are those which customers buy frequently, immediately, and with minimal effort. Examples of convenience products are household staples like sugar, salt, toiletries, and groceries.

Question 19

Which of the following statements is most likely true about unsought products?
A) Unsought products are consumer products and services that customers buy frequently.
B) Marketers use aggressive advertising to convince consumers to buy unsought products.
C) Unsought products are typically purchased for further processing by industrial manufacturers.
D) Compared to convenience products, unsought products are purchased more frequently.
E) Unsought products offer many unique characteristics to status-conscious consumers.

Accepted Answer

Unsought products are products or services that consumers may not know about, or may not actively seek to purchase. Marketers often use aggressive advertising to raise awareness and convince consumers to buy these products.

Question 20

________ products are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.
A) Convenience
B) Capital
C) Unsought
D) Shopping
E) Secondary

Accepted Answer

Shopping products are not frequently bought products and require a comparison of features such as quality, suitability, price, and style before purchase. Convenience products are bought frequently and do not require much consideration, while unsought products are products that customers do not actively seek out, and capital and secondary products do not fit the description of being frequently bought consumer products.

Quiz 7: Products, Services, and Brands: Building Customer Value

________ refer to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible.

Which statement about convenience products is most likely true?

Which of the following is an industrial product categorized under materials and parts?

Susan has been redecorating her new condo for a year. She is carefully selecting every item. Susan finds an oriental rug that matches her color scheme and décor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of a(n) ________.

________ products are consumer products and services with unique characteristics or brand identifications for which a significant group of buyers is willing to make more effort than usual to purchase.

Specialty products are consumer products and services that customers generally buy ________.

Which of the following is an example of a shopping product?

Which of the following is an example of a convenience product?

Howard Schultz, the founder of Starbucks, positioned his bistros as "a third place" between work and home where patrons could share and enjoy a cup of coffee with friends. This illustrates ________.

Major appliances, furniture, and clothing are typical examples of ________ products.

Laundry detergent, candy, magazines, and fast food are purchased frequently by customers. They are examples of ________ products.

Consumer products that the buyer either does not know about or knows about but does not normally consider buying are referred to as ________ products.

Which of the following is most likely a true statement about shopping products?

Which of the following is an example of an industrial product grouped under capital items?

Which of the following is a pure tangible good?

Which of the following is an example of an unsought product?

________ products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.

Which of the following statements is most likely true about unsought products?

________ products are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.