Question 1

Which of the following statements regarding goods is most accurate?

Accepted Answer

Some goods, such as services, also have intangible attributes. For example, a massage is a service, but the relaxation and stress relief it provides are intangible attributes.

Question 2

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

Accepted Answer

Tangible attributes of a good can be perceived by a consumer's five senses, including touch, taste, sight, smell, and sound.

Question 3

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 is referred to as __________.

Accepted Answer

The definition given describes a product, which consists of both tangible (physical) and intangible (perceived) attributes that satisfy consumer needs and are exchanged for money or something else of value.

Question 4

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

Accepted Answer

A nondurable good is defined as an item that is consumed in one or a few uses. Examples of nondurable goods include food, beverages, toiletries, and cleaning supplies.

Question 5

Which of the following is the best example of a nondurable good?

Accepted Answer

Nondurable goods are items that are used up or consumed in a short period of time, usually less than three years. Laundry detergent is an example of a nondurable good because it is used up quickly and needs to be purchased again. The other choices are durable goods or services that have a longer lifespan or are not consumed at all.

Question 6

A nondurable good is defined as a(n)

Accepted Answer

A nondurable good is a product that is consumed in one or a few uses, such as food, drink, or personal care items. Therefore, choice A is the best answer as it defines a nondurable good accurately.

Question 7

A 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

Accepted Answer

A product can be exchanged for money or something else of value, not just legal tender or barter, as it provides value to the consumer.

Question 8

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

Accepted Answer

The division of products into durable and nondurable goods helps to provide direction for marketing actions, as marketing strategies for durable and non-durable goods may differ significantly.

Question 9

The Apple II, Macintosh, iPod, iPhone, iPad, and CarPlay are all examples of Apple's commitment to __________.

Accepted Answer

These products represent Apple's ongoing dedication to developing new and innovative technologies to meet evolving consumer needs.

Question 10

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

Accepted Answer

Nondurable goods are items that are consumed quickly or have a short lifespan, such as food and fuel. Services refer to activities performed for the benefit of others, while durable goods are items that are expected to have a longer lifespan, such as appliances and furniture. Disposable goods are a type of nondurable good that are intended to be used once and then thrown away, such as paper plates or plastic utensils, but this term is not as commonly used as nondurable goods. Therefore, the best choice is D) nondurable goods.

Question 11

Advertising Age named its CEO Marketer of the Decade, Fortune rated it as the world's most admired company and Bloomberg Businessweek perennially identifies it as the most innovative company in the world. This firm is

Accepted Answer

The firm in question has been recognized by Advertising Age as its CEO Marketer of the Decade, by Fortune as the world's most admired company, and by Bloomberg Businessweek as the most innovative company in the world, all of which are consistent with the accolades that Apple has received in recent years.

Question 12

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

Accepted Answer

A good is a physical product that can be seen, touched, tasted, smelled, and heard. It has tangible attributes that can be perceived by the consumer's senses. Examples include clothing, cars, and smartphones.

Question 13

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

Accepted Answer

Nondurable goods are typically low-cost products that are consumed or used up quickly, such as food, toiletries, and cleaning supplies. As a result, advertising and wide distribution are crucial to ensure that these products are top of mind for consumers and readily available for purchase. This is why you see so many ads for brands like Coca-Cola, Tide, and Campbell's Soup, and why these products are sold in a variety of retail locations, from grocery stores to convenience stores to drugstores.

Question 14

As a marketing term, __________ generally includes not only physical goods, but also services and ideas as well.

Accepted Answer

The term "product" is used to refer to physical goods, services, and even ideas that can be offered to customers for their use or consumption. Therefore, it is the most appropriate choice for the given statement. The other options, such as "marketing," "invention," "merchandise," and "concept", do not encompass all the elements that the term "product" does.

Question 15

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

Accepted Answer

Steve Jobs did not oversee or invent innovations that revolutionized the cable television industry.

Question 16

Goods can be divided into __________ goods and __________ goods.

Accepted Answer

Goods can be classified as durable or nondurable based on their ability to last for a longer period of time. Durable goods are those goods that have a longer life span and can be used repeatedly, for example, a car. Nondurable goods, on the other hand, are those goods that are used up quickly or have a shorter life span, for example, food or toiletries. Other classifications are not as applicable to goods in general.

Question 17

A product refers to

Accepted Answer

The definition of a product includes a bundle of tangible and intangible attributes that satisfy consumers' needs and are received in exchange for money or something else of value. This definition best aligns with option E. Option A refers specifically to tangible goods, while option B refers only to intangible benefits. Option C refers specifically to goods sold to organizational buyers, while option D is not a accurate definition of a product.

Question 18

The Apple innovation that leading car manufacturers are incorporating into their offering that allows users a "smarter, safer, and more fun way to use iPhone in the car" is referred to as

Accepted Answer

E is the correct answer as CarPlay is the Apple innovation that leading car manufacturers are incorporating into their offering that allows users a "smarter, safer, and more fun way to use iPhone in the car". It is a software interface that integrates with the car's built-in display and controls to provide access to phone functionalities, music, messages, maps, and other apps through voice commands or touch input. This feature improves the driving experience by minimizing distractions and keeping the driver focused on the road.

Question 19

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

Accepted Answer

A product can be a good (tangible item), a service (intangible activity performed for someone else), or an idea (intangible concept or belief). It consists of a bundle of attributes that satisfy consumers' needs and is exchanged for money or something else of value.

Question 20

Which of the following statements regarding goods is most accurate?

Accepted Answer

Nondurable goods, such as food and personal care items, have a shorter lifespan and therefore require more frequent purchasing. As a result, they rely more on advertising to encourage repeat purchases and brand loyalty. Durable goods, such as appliances and furniture, typically have a longer lifespan and do not require as much advertising to encourage repeat purchases.

Quiz 9: Developing New Products and Services

Which of the following statements regarding goods is most accurate?

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

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 is referred to as __________.

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

Which of the following is the best example of a nondurable good?

A nondurable good is defined as a(n)

A 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

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

The Apple II, Macintosh, iPod, iPhone, iPad, and CarPlay are all examples of Apple's commitment to __________.

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

Advertising Age named its CEO Marketer of the Decade, Fortune rated it as the world's most admired company and Bloomberg Businessweek perennially identifies it as the most innovative company in the world. This firm is

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

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

As a marketing term, __________ generally includes not only physical goods, but also services and ideas as well.

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

Goods can be divided into goods and goods.

A product refers to

The Apple innovation that leading car manufacturers are incorporating into their offering that allows users a "smarter, safer, and more fun way to use iPhone in the car" is referred to as

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

Which of the following statements regarding goods is most accurate?