Question 1

Services refer to
A)ideas that consist of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value.
B)intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
C)philanthropic activities performed in without expectations of monetary remuneration.
D)any intangible activity that provides a benefit to a consumer that he or she could not have obtained or performed on his or her own.
E)any tangible activity that provides a benefit to a consumer that he or she could not have obtained or performed on his or her own.

Accepted Answer

Services are intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. This definition distinguishes services from tangible goods, which are physical products that can be seen, touched, and possessed. Services can include a wide range of activities, from legal and financial advice to entertainment and hospitality.

Question 2

Services are
A)the tangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
B)the activities provided to complement a tangible good,such as technical support for a computer.
C)the intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
D)any activity required for the production of a good that cannot be completed "in-house" and must be outsourced to another firm.
E)the human (nonmechanical)component that is part of the manufacturing process.

Accepted Answer

Services are intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. Examples of services include consulting, healthcare, education, and entertainment.

Question 3

Which of the following is the BEST example of a nondurable good?
A)automobile
B)e-reader
C)baseball
D)gasoline
E)shoes

Accepted Answer

Gasoline is a consumable good that is used up relatively quickly and must be purchased frequently, making it a clear example of a nondurable good.

Question 4

Which of the following is considered a durable good?
A)silverware
B)caviar
C)marketing research
D)chewing gum
E)voting

Accepted Answer

Silverware is a physical good that is meant to last for a long time and can be reused multiple times, making it a durable good. Caviar is a perishable good and does not last for a long time, making it a non-durable good. Marketing research is a service and cannot be considered a good. Chewing gum is a consumable good that is used up quickly, making it a non-durable good. Voting is an activity and cannot be considered a good.

Question 5

Cars and appliances are classified as
A)reusable goods.
B)nondisposable goods.
C)imperishable goods.
D)reliable products.
E)durable goods.

Accepted Answer

Cars and appliances are both examples of durable goods, which are products designed to last a significant amount of time and be used repeatedly. This sets them apart from nondurable goods, which have a shorter lifespan and are typically consumed after one use.

Question 6

Which of the following is considered a service?
A)lamp
B)motorcycle
C)potato chips
D)a marketing class
E)environmentalism

Accepted Answer

A marketing class is considered a service as it is an intangible offering that provides expertise or education to a customer. The other options are all tangible goods.

Question 7

Which of the following is the BEST example of a nondurable good?
A)laundry detergent
B)shoes
C)insurance
D)iPod
E)laser surgery

Accepted Answer

Nondurable goods are products that are consumed or used up in a short period of time. Laundry detergent is an example of a nondurable good because it is used up quickly and needs to be replaced often.

Question 8

Products that usually last over many uses,such as cars and appliances,are referred to as
A)endurable goods.
B)nondisposable goods.
C)imperishable goods.
D)reliable products.
E)durable goods.

Accepted Answer

The term commonly used for products that are expected to last over multiple uses is durable goods. Thus, option E is the correct choice. Options A and B are not specific enough as not all endurable goods are durable goods (e.g. a diamond is an endurable good but not a durable good), while options C and D are not commonly used terms.

Question 9

A durable good is defined as a(n)
A)item consumed in one or a few uses.
B)item that usually lasts over an extended number of uses.
C)item that lasts at least one year without becoming obsolete.
D)product purchased only for the use of ultimate consumers.
E)product used in the production of other products.

Accepted Answer

A durable good is an item that is expected to last over an extended period of use, usually at least three years. Examples of durable goods include cars, appliances, and furniture.

Question 10

Intangible items such as airline trips,financial advice,or telephone calls that an organization provides to consumers are referred to as
A)production goods.
B)support products.
C)services.
D)goods.
E)benefits.

Accepted Answer

Intangible items such as airline trips, financial advice, or telephone calls are examples of services that an organization provides to consumers. Services are different from goods in that they are intangible and are not physical products that can be touched or seen. Support products and benefits may also be associated with services, but they are not the main classification for this type of offering. Production goods are tangible items that are produced for sale, making it an incorrect option.

Question 11

In marketing,a(n)__________ is a thought that leads to a product or action.
A)observation
B)inspiration
C)innovation
D)idea
E)perception

Accepted Answer

An idea is a thought that leads to a product or action in marketing. This is a common term used in brainstorming sessions, marketing research, and idea generation for new products or campaigns. A marketing idea can come from a variety of sources such as consumer needs, market trends, competitive analysis, and internal team brainstorming.

Question 12

Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as __________.
A)services
B)goods
C)products
D)marketing mix
E)ideas

Accepted Answer

Services are intangible activities or benefits that are provided by an organization to satisfy consumers' needs. Goods and products refer to tangible objects that are sold in exchange for money or something else of value. The marketing mix refers to the combination of product, price, promotion, and place (distribution) that a company uses to satisfy its target market. Ideas refer to concepts or suggestions that can be used to solve problems or address needs.

Question 13

Which of the following statements about services is most accurate?
A)Although a major contributor to the GDP nationally,services play only a minor role in GDP on a global scale.
B)Whether tangible or not,the marketing of services is exactly the same as the marketing of products or ideas since they both satisfy customer needs.
C)Almost 65% of all jobs created in the United States are in the services sector.
D)In the U.S. ,almost 50% of the GDP comes from services.
E)There is much more in common with the marketing of services and business products than there is between the marketing of services and consumer products.

Accepted Answer

According to data from the Bureau of Economic Analysis, in 2019, services accounted for 47.8% of the U.S. GDP, making statement D the most accurate choice.

Question 14

In marketing,an idea is
A)a thought that leads to a product or action.
B)an inspiration that evolved from market research.
C)an observation about a series of events.
D)a concept explaining the behavior of an individual or group.
E)an observation about an individual or group and how they use a service or product.

Accepted Answer

An idea is a thought that leads to a product or action in marketing. It is the initial spark that sets the marketing process in motion.

Question 15

Advertising is most important for which of the following products?
A)bicycle
B)toaster
C)orange juice
D)deck furniture
E)watch

Accepted Answer

Orange juice is a highly competitive market with many different brands available. Advertising plays a crucial role in distinguishing one brand from another and in convincing consumers to choose a particular option.

Question 16

Services are a significant part of the U.S.economy,reaching almost __________ percent of its gross domestic product.
A)20
B)25
C)30
D)40
E)50

Accepted Answer

Services account for a significant portion of the U.S. economy, contributing to nearly 50% of its gross domestic product (GDP).

Question 17

Which of the following is considered an idea?
A)haircut
B)birdfeeder
C)chewing gum
D)marketing class
E)security

Accepted Answer

The answer of Which of the following is considered an...

Question 18

Advertising is important for products such as Butterfinger candy bars and Dasani bottled water that are purchased frequently and at relatively low cost.Also,wide distribution in retail outlets is essential.Why?
A)They are highly sought after goods that one purchases from wholesalers.
B)They are unsought products,so advertising promotes consumers' impulse purchases.
C)They are nondurable goods and easily substitutable,so consumers need to be reminded of their existence.
D)They are shopping products and can easily go out of stock.
E)They are semidurable goods,so advertising helps to maintain steady demand.

Accepted Answer

Butterfinger candy bars and Dasani bottled water are both low cost and frequently purchased nondurable goods. Advertising helps to remind consumers of their existence and maintain steady demand since they are easily substitutable. Wide distribution in retail outlets is also important to ensure that they are readily available to consumers.

Question 19

Which of the following is considered a service?
A)online banking
B)silverware
C)washing machine
D)chewing gum
E)freedom

Accepted Answer

Online banking is a service because it is an intangible activity or benefit provided to consumers, while the rest are physical goods.

Question 20

Durable goods emphasize which of the following elements of the promotional mix?
A)sales promotion
B)personal selling
C)advertising
D)public relations
E)direct marketing

Accepted Answer

Durable goods emphasize the personal selling element of the promotional mix as compared to nondurable goods where advertising is more important.

Quiz 10: Developing New Products and Services

Services refer to

Services are

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

Which of the following is considered a durable good?

Cars and appliances are classified as

Which of the following is considered a service?

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

Products that usually last over many uses,such as cars and appliances,are referred to as

A durable good is defined as a(n)

Intangible items such as airline trips,financial advice,or telephone calls that an organization provides to consumers are referred to as

In marketing,a(n) __________ is a thought that leads to a product or action.

Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as __________.

Which of the following statements about services is most accurate?

In marketing,an idea is

Advertising is most important for which of the following products?

Services are a significant part of the U.S.economy,reaching almost __________ percent of its gross domestic product.

Which of the following is considered an idea?

Advertising is important for products such as Butterfinger candy bars and Dasani bottled water that are purchased frequently and at relatively low cost.Also,wide distribution in retail outlets is essential.Why?

Which of the following is considered a service?

Durable goods emphasize which of the following elements of the promotional mix?