Question 1

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

Accepted Answer

Goods and services are classified as either consumer or business based on the purchasers of the particular item. Consumer goods and services are purchased by individuals for personal use, while business goods and services are purchased by organizations for operational use or resale to consumers. The other options (A, B, and C) are not accurate determinants for distinguishing between consumer and business goods and services.

Question 2

A combination of product lines represents a company's ______.
A) product mix
B) product cluster
C) product life cycle
D) distribution strategy

Accepted Answer

A combination of product lines represents a company's product mix, which refers to the total set of products that a company offers to its customers. This includes all product lines and individual products within those lines.

Question 3

The tires built by Michelin that appear on Formula 1 race cars are classified as ______.
A) accessory equipment
B) component parts and materials
C) supplies
D) specialty products

Accepted Answer

The tires are component parts and materials because they are used in the production of the final product, which is the Formula 1 race car.

Question 4

Which of the following is a specialty product?
A) insurance policy
B) litre of milk
C) Armani clothing
D) dining room set

Accepted Answer

Armani clothing is a specialty product because it is expensive and has a limited target market. It is a luxury item that is not typically used by everyone.

Question 5

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

Accepted Answer

While all of these aspects can be important for a marketer to consider, ultimately the focus should be on the benefits that the product can offer to consumers. This includes both functional benefits (e.g. what the product does or how it performs) and emotional benefits (e.g. how the product makes the consumer feel). By emphasizing the benefits, marketers can more effectively communicate value to potential customers and differentiate their product from competitors.

Question 6

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

Accepted Answer

Consumer products are typically classified into three categories: convenience products, shopping products, and specialty products. Convenience products are frequently bought consumer goods and do not require much effort on the consumer's part. Shopping products require some effort on the consumer's part to compare different product options, and specialty products are unique and often expensive products that consumers are willing to go out of their way to purchase.

Question 7

Items that consumers purchase frequently, immediately, and with little effort are ______ products.
A) convenience
B) shopping
C) specialty
D) capital

Accepted Answer

Convenience products are items that customers buy frequently, with minimal effort, and without any extensive decision-making. These products are typically affordable and readily available at many locations, such as gas stations or grocery stores. Examples of convenience products include household items like toothpaste and laundry detergent, food items like snacks and beverages, and personal care products like shaving cream and shampoo.

Question 8

Jan takes her car to Oil Express for an oil change. This is an example of a(n) ______.
A) consumer service
B) specialty product
C) convenience product
D) business service

Accepted Answer

Jan is a consumer receiving a service from Oil Express.

Question 9

Which classification of business goods is usually consumed over a long period and usually involves large sums of money?
A) convenience items
B) capital items
C) installations
D) expense items

Accepted Answer

Capital items are usually consumed over a long period and involve large sums of money. They are considered major investments for a business, such as machinery, buildings, and vehicles. Convenience items and expense items are usually consumed quickly and involve smaller amounts of money, while installations are a type of capital item that involves installing equipment or systems within a building or property, but may not involve as much money as other capital items.

Question 10

When Smith Glass Factory purchases light bulbs for everyday use, it is purchasing ______.
A) expense items
B) component parts
C) raw materials
D) supplies

Accepted Answer

Light bulbs are considered supplies since they are used for general everyday use and are not directly incorporated into the production process.

Question 11

A new refrigerator falls into which of the following classifications of goods?
A) specialty products
B) accessory equipment
C) shopping products
D) convenience products

Accepted Answer

A refrigerator is a higher-priced item that consumers typically take time to research and compare before making a purchase. This makes it a shopping product, which is a type of product that consumers compare in terms of quality, price, and style before making a purchase decision. Specialty products are unique products that consumers actively seek out, such as luxury cars or designer clothing. Accessory equipment refers to items used alongside main products, such as printer ink cartridges. Convenience products are low-priced items that consumers purchase frequently without much thought or effort, such as food or toiletries.

Question 12

An example of supply items would be ______.
A) computers
B) paper clips
C) cotton
D) hand tools

Accepted Answer

The answer of An example of supply items would be...

Question 13

The purchase of a new jet by WestJet is an example of a(n) ______ purchase.
A) installation
B) supply
C) specialty good
D) component part

Accepted Answer

The answer of The purchase of a new jet by...

Question 14

Fax machines are classified as which of the following?
A) specialty products
B) capital items
C) accessory equipment
D) shopping products

Accepted Answer

Fax machines are considered accessory equipment because they are not crucial to the main business operations and are often used in conjunction with other equipment like computers and printers.

Question 15

Travis 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's ready to buy, Travis will be purchasing a(n) ______ product.
A) convenience
B) shopping
C) specialty
D) accessory

Accepted Answer

Travis has spent almost a week researching different brands and prices of soft-foam mattresses, indicating that he is willing to put in effort and time to make an informed decision. This makes his purchase a shopping product.

Question 16

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

Accepted Answer

Shopping products are those products that consumers buy after comparing different options based on price, quality, style, and color. These are typically higher-priced items that consumers are willing to put in more effort to research and compare before making a purchase. Examples include furniture, electronics, and clothing.

Question 17

Natural resources, such as iron ore used in producing finished goods, are classified as ______.
A) supplies
B) accessory equipment
C) component parts and materials
D) raw materials

Accepted Answer

Natural resources are considered raw materials as they are used in their natural state or with minimal processing before being transformed into finished goods. Supplies refer to items used in day-to-day operations such as office supplies, while accessory equipment refers to machinery used to support production but not directly involved in the production process. Component parts and materials are used to construct the finished good, but are not in their natural state like raw materials.

Question 18

Only a few Jaguar dealers are located in the Toronto metropolitan area. For buyers who will accept no substitute, Jaguar automobiles are ______.
A) specialty products
B) convenience products
C) shopping products
D) capital items

Accepted Answer

Jaguar automobiles are considered specialty products because they are unique and exclusive, and only a few dealerships in the area offer them. They are not convenience products because customers are willing to expend more effort to purchase them. They are not shopping products because customers do not compare them with other brands. They are not capital items because they are not purchased for long-term use in a business.

Question 19

Maria owns a store that prepares gourmet chocolates, which are hand made and sold on the premises. What type of product is Maria selling?
A) convenience
B) shopping
C) specialty
D) accessory

Accepted Answer

Maria's chocolates are hand made and sold on the premises, indicating that they are unique and of high quality. This makes them a specialty product, as customers are willing to seek out and pay a premium for such items. They are not a convenience product, which are typically low-cost goods that customers purchase frequently with little thought or effort. They are also not a shopping product, which are goods that customers compare across different stores before making a purchase. Finally, they are not an accessory product, which are items that complement or enhance the use of another product.

Question 20

Which of the following classifications of products apply to business goods and services?
A) supplies and specialty products
B) specialty products and convenience products
C) installation and accessory equipment
D) shopping products and expense items

Accepted Answer

Business goods and services can be classified as installation and accessory equipment, such as machinery and computers, as well as supplies that are necessary for day to day operations. While specialty and convenience products and shopping products and expense items are classifications for consumer goods and services.

Quiz 12: Product and Distribution Strategies

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

A combination of product lines represents a company's ______.

The tires built by Michelin that appear on Formula 1 race cars are classified as ______.

Which of the following is a specialty product?

A marketer focuses on a product's ______.

Consumer products are usually classified as ______.

Items that consumers purchase frequently, immediately, and with little effort are ______ products.

Jan takes her car to Oil Express for an oil change. This is an example of a(n) ______.

Which classification of business goods is usually consumed over a long period and usually involves large sums of money?

When Smith Glass Factory purchases light bulbs for everyday use, it is purchasing ______.

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

An example of supply items would be ______.

The purchase of a new jet by WestJet is an example of a(n) ______ purchase.

Fax machines are classified as which of the following?

Travis 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's ready to buy, Travis will be purchasing a(n) ______ product.

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

Natural resources, such as iron ore used in producing finished goods, are classified as ______.

Only a few Jaguar dealers are located in the Toronto metropolitan area. For buyers who will accept no substitute, Jaguar automobiles are ______.

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

Which of the following classifications of products apply to business goods and services?