Question 1

Describe the supply chain.

Accepted Answer

The answer of Describe the supply chain....

Question 2

Which of the following is a specialty product?
A) Armani designer clothing
B) Dining room set
C) Insurance policy
D) Gallon of milk

Accepted Answer

Armani designer clothing is a luxury item that is not widely available and only appeals to a specific segment of the market. It is considered a specialty product. The other options are either common or more utilitarian products that are readily available to most consumers.

Question 3

A bundle of physical, service, and symbolic characteristics designed to satisfy customer wants is called _____.
A) the marketing mix
B) packaging
C) a product
D) a brand name

Accepted Answer

The definition provided clearly describes a product as a bundle of physical, service, and symbolic characteristics designed to satisfy customer wants. The marketing mix refers to the strategies and tactics used to market a product, packaging is the physical container or wrapping of a product, and a brand name is a unique name and identity given to a product or company.

Question 4

Andrew wants to replace his old mattress with a new soft-foam mattress and has spent almost a week researching different brands and prices. When he is ready to buy, Andrew will be purchasing a(n) _____ product.
A) convenience
B) shopping
C) specialty
D) accessory

Accepted Answer

Andrew's purchase involves a significant amount of research and comparison, indicating that he is in the shopping product category.

Question 5

Goods and services are classified as either consumer or business, depending on the _____.
A) amount of service required on the item
B) buying motives of the purchasers
C) cost of the particular item
D) purchasers of the particular item as consumers or businesses

Accepted Answer

Goods and services are classified as either consumer or business based on the purchasers of the particular item as consumers or businesses. Consumer goods and services are intended for personal or household use, while business goods and services are bought by companies for production or other business purposes. The buying motives, cost, and amount of service required on the item are not factors in determining whether a product or service is classified as consumer or business.

Question 6

Explain the difference between direct distribution channels and distribution channels that involve several different marketing intermediaries. Provide an example of each type.

Accepted Answer

The answer of Explain the difference between direct distribution channels...

Question 7

Explain why choosing the right package and label is especially crucial in international marketing.

Accepted Answer

The answer of Explain why choosing the right package and...

Question 8

A marketer's product strategy focuses on a product's _____.
A) benefits
B) symbolic attributes
C) service attributes
D) physical characteristics

Accepted Answer

A marketer's product strategy focuses on the benefits of the product, which refers to the value or satisfaction customers derive from using the product. This includes benefits such as functional or emotional benefits, convenience, durability, and quality. Symbolic attributes, service attributes, and physical characteristics are also important considerations in marketing, but they are not the primary focus of a product strategy.

Question 9

Nicole takes her car to Ken Oil Inc. for an oil change. This is an example of a _____.
A) business service
B) convenience product
C) specialty product
D) consumer service

Accepted Answer

An oil change is a service provided to a consumer, making it a consumer service.

Question 10

Describe the benefits of having marketing intermediaries and provide an example.

Accepted Answer

The answer of Describe the benefits of having marketing intermediaries...

Question 11

Only a few dealers of Nebula Corp., an automobile manufacturer, are located in the New York metropolitan area. For buyers who will accept no substitute, Nebula automobiles are _____.
A) specialty products
B) convenience products
C) shopping products
D) business products

Accepted Answer

Since there are only a few dealers in the area and the buyers are specifically looking for Nebula automobiles, it can be considered as a specialty product.

Question 12

Describe direct-response retailing and internet retailing and provide examples.

Accepted Answer

The answer of Describe direct-response retailing and internet retailing and...

Question 13

Differentiate between a merchant wholesaler and an agent or broker in terms of title to the goods.

Accepted Answer

The answer of Differentiate between a merchant wholesaler and an...

Question 14

Products purchased only after the consumer has compared competing products in competing stores on the basis of price, quality, style, and color would be classified as _____.
A) business products
B) shopping products
C) specialty products
D) convenience products

Accepted Answer

Shopping products are products that consumers buy after comparing several brands or stores based on price, quality, style, and color before making a purchase decision. These products are not typically purchased on impulse and require the consumer to research and consider their options before buying.

Question 15

Provide examples of products using the three levels of distribution intensity.

Accepted Answer

The answer of Provide examples of products using the three...

Question 16

Consumer products are usually classified as _____.
A) capital items, convenience items, and specialty products
B) convenience products, shopping products, and specialty products
C) convenience products and expense items
D) expense items and capital items

Accepted Answer

Consumer products are usually classified as convenience products, shopping products, and specialty products. Convenience products are low-cost items that consumers purchase frequently and easily, such as toothpaste or paper towels. Shopping products are higher-priced items that require more effort and comparison before purchase, such as a new laptop or car. Specialty products are unique and high-end items that consumers actively seek out, such as designer clothing or luxury cars.

Question 17

Differentiate among a brand, a brand name, and a trademark.

Accepted Answer

The answer of Differentiate among a brand, a brand name,...

Question 18

Olivia owns a store that prepares gourmet chocolates, which are hand-made and sold on the premises. What type of product is Olivia selling?
A) Accessory
B) Specialty
C) Shopping
D) Convenience

Accepted Answer

Olivia is selling specialty products, which are unique and high-quality items that are not typically found in regular retail stores. Her hand-made gourmet chocolates are a specialty item that customers cannot find elsewhere.

Question 19

A refrigerator falls into which of the following classifications of goods?
A) Accessory equipment
B) Specialty products
C) Convenience products
D) Shopping products

Accepted Answer

A refrigerator falls under the category of shopping products as it requires a considerable amount of time and effort to compare and select the right one regarding features, specifications, and price. It is not considered an accessory equipment as it is not used to produce other goods. It is also not a specialty product as it is widely available and not limited to a certain geographical area or specific brands. And finally, it is not a convenience product as consumers don't buy refrigerators frequently, and they don't habitually stock up on them.

Question 20

Which of the following best describes convenience products?
A) Items a consumer seeks to purchase frequently, immediately, and with little effort
B) Items typically purchased only after the buyer has compared competing products in competing stores
C) Goods that a purchaser is willing to make a special effort to obtain
D) Goods and services such as payroll services and huge multifunction copying machines used in operating an organization

Accepted Answer

Convenience products are items that consumers seek to purchase frequently, immediately, and with little effort. Examples include snacks, toiletries, and basic household items.

Quiz 12: Product and Distribution Strategies

Describe the supply chain.

Which of the following is a specialty product?

A bundle of physical, service, and symbolic characteristics designed to satisfy customer wants is called _____.

Andrew wants to replace his old mattress with a new soft-foam mattress and has spent almost a week researching different brands and prices. When he is ready to buy, Andrew will be purchasing a(n) _____ product.

Goods and services are classified as either consumer or business, depending on the _____.

Explain the difference between direct distribution channels and distribution channels that involve several different marketing intermediaries. Provide an example of each type.

Explain why choosing the right package and label is especially crucial in international marketing.

A marketer's product strategy focuses on a product's _____.

Nicole takes her car to Ken Oil Inc. for an oil change. This is an example of a _____.

Describe the benefits of having marketing intermediaries and provide an example.

Only a few dealers of Nebula Corp., an automobile manufacturer, are located in the New York metropolitan area. For buyers who will accept no substitute, Nebula automobiles are _____.

Describe direct-response retailing and internet retailing and provide examples.

Differentiate between a merchant wholesaler and an agent or broker in terms of title to the goods.

Products purchased only after the consumer has compared competing products in competing stores on the basis of price, quality, style, and color would be classified as _____.

Provide examples of products using the three levels of distribution intensity.

Consumer products are usually classified as _____.

Differentiate among a brand, a brand name, and a trademark.

Olivia owns a store that prepares gourmet chocolates, which are hand-made and sold on the premises. What type of product is Olivia selling?

A refrigerator falls into which of the following classifications of goods?

Which of the following best describes convenience products?