Question 1

In recent years,the packaging of products has been given a greater role in product promotion.

Accepted Answer

Many companies have been focusing on creating eye-catching and attractive packaging to help promote their products and stand out among competitors.

Question 2

One function of effective packaging is to attract the attention of consumers.

Accepted Answer

Effective packaging should be designed to catch the eye of potential consumers and draw them in to examine the product further. It should be visually appealing, use appropriate colors and fonts, and effectively communicate the benefits of the product.

Question 3

The exclusive goal companies expect of packaging is to protect the product from damage in transit.

Accepted Answer

While protecting the product is an important goal, packaging is also expected to promote the product, provide information, and enhance the customer experience.

Question 4

Gabe intends to visit a variety of retailers of sound equipment comparing features,quality,and prices of different brands at each store.This behavior indicates that for Gabe a sound system is a shopping good.

Accepted Answer

Gabe is actively comparing different brands at different retailers, indicating that he is engaging in comparison shopping for a sound system. This behavior is typical of a consumer considering a shopping good.

Question 5

More than any other component of a total product offer,technology has reduced the importance of packaging.

Accepted Answer

Technology has certainly changed the way packaging is designed and produced, but packaging still plays a crucial role in protecting and promoting a product. It helps differentiate products on the shelf, provides important information to consumers, and can even influence the perceived value of the product.

Question 6

A brand includes practically all means of identifying a product.

Accepted Answer

A brand includes not only the name and logo of a product, but also its packaging, design, colors, symbols, slogans, and any other elements that create a unique identity and association in the mind of consumers.

Question 7

One function of effective packaging is to protect the goods inside during handling and storage,as well as deter product tampering and theft.

Accepted Answer

Effective packaging should provide protection to the goods inside during handling and storage. It should also act as a deterrent to product tampering and theft.

Question 8

While the packaging of services has not yet captured the attention of businesses,technological improvements will likely create new opportunities.

Accepted Answer

The answer of While the packaging of services has not...

Question 9

Thigpen Equipment Company sells used heavy construction equipment such as bulldozers and cranes.Thigpen's products represent examples of an accessory equipment industrial good.

Accepted Answer

Bulldozers and cranes are considered as capital equipment industrial goods, which are used for production purposes rather than as an accessory.

Question 10

The trend towards self-service retailers has increased the importance of packaging.

Accepted Answer

With self-service retailers, consumers are more likely to make decisions based on the packaging of the product as they cannot rely on the assistance of a salesperson. Therefore, packaging has become increasingly important in grabbing the attention of consumers and influencing their buying decisions.

Question 11

Stella strongly prefers a specific brand of gourmet coffee.Because there is only one store in her area that sells this brand,she makes an extra effort to purchase this item.Stella's purchasing behavior indicates for her this product is a specialty good.

Accepted Answer

Since Stella strongly prefers a specific brand of gourmet coffee and makes an extra effort to purchase it, it indicates that the product is a specialty good. Specialty goods are unique products that consumers are willing to go out of their way to purchase, even if it means spending more money or putting in more effort.

Question 12

As a result of increased advertising and well-trained salespeople,packaging is less important than in the past.

Accepted Answer

While advertising and salespeople may impact purchasing decisions, packaging still plays a crucial role in attracting and informing consumers about the product. Appealing and informative packaging can also make a product stand out on store shelves, increasing the chances of it being purchased.

Question 13

Healthy Pick designed a new type of packaging that significantly improves taste and texture of food when defrosted.Unfortunately,firms seldom find that improvements in packaging impact market share and profits.

Accepted Answer

The statement is false. Improvements in packaging can indeed impact market share and profits, as it can enhance the customer experience and make the product more appealing.

Question 14

One function of effective packaging is to provide information regarding warranties,benefits,and uses of the good inside the package.

Accepted Answer

Effective packaging should provide information about the product inside, including warranties, benefits, and uses. This helps consumers make informed decisions about the product and ensures that they are aware of any guarantees or limitations.

Question 15

Packaging is an important part of the total product offer.

Accepted Answer

Packaging is important as it protects the product during transit, provides information about the product, and is often a key element in marketing and branding.

Question 16

Changes in packaging can transform the product in the minds of consumers and open larger market opportunities.

Accepted Answer

Changes in packaging can create a new image of the product, attract customers who were not interested before, and help the product stand out in a crowded market. This can lead to increased sales and revenue, and open up new market opportunities.

Question 17

Regardless of changes in packaging,the total product offer remains unchanged.

Accepted Answer

The answer of Regardless of changes in packaging,the total product...

Question 18

While the Universal Product Code UPC)improves efficiency at the retail check-out counter,it has increased problems in controlling inventory.

Accepted Answer

The Universal Product Code (UPC) actually helps in controlling inventory by providing a standardized way to track products, reducing errors and improving inventory management.

Question 19

While packaging innovations benefit the consumer,they have vastly increased the workload of retailers.

Accepted Answer

The answer of While packaging innovations benefit the consumer,they have...

Question 20

Beyonce Financial Services purchased several new personal computers and a sophisticated color laser printer for office use.These items would be correctly classified as accessory equipment.

Accepted Answer

Accessory equipment refers to items that support the main equipment in an office or business setting. Personal computers and a color laser printer are examples of accessory equipment as they support the main equipment used in the office.

Quiz 14: Developing and Pricing Goods and Services