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Principles of Marketing(6)

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					Prriinciiplles off Marrkettiing
P nc p es o Ma ke ng                                          Date: Sunday (12/5/10) by 12 midnight
Testt 11,, Chaptterr Elleven
Tes 11 Chap e E even
Fall 2010

                              Product and Service Strategies

Test 11 is Multiple Choice and Matching, and is worth 10 total points (with 65 actual points).
All your answers must be in the upper case, e.g., A, B, C, D. Read each question carefully before
entering your answer. If any question is unclear, contact your instructor for clarification. You
must use the ANSWER SHEET.

MATCHING

1. Marketing decision makers realize that people buy
   a. due to high pressure tactics.
   b. to satisfy their wants.
   c. only when it is required.
   d. when the price is at its lowest.

2. Using the broad application of the word "product," your television set is
   a. the most recent development of the telephone concept.
   b. a means of providing entertainment.
   c. a "black box" with a screen and a remote control.
   d. a machine that tunes certain frequencies in the broadcasting bands.

3. A product is
   a. the physical and chemical attributes of something one can buy.
   b. whatever the seller says it is.
   c. a bundle of physical, service, and symbolic attributes designed to satisfy a customer's
       wants and needs.
   d. a thing that's impossible to define, since everyone sees them differently.
4. Distinguishing services from goods, all of the following are correct except
   a. services are intangible.
   b. services are inseparable from service providers.
   c. services are easy to standardize.
   d. services are perishable.

5. Prices of services rise during times of peak demand only to fall -- often drastically -- when demand
   declines because
   a. services are intangible.
   b. buyers get involved in service design and distribution.
   c. services are perishable.
   d. services are inseparable from their providers.

6. Which of the following companies is a pure service firm?
   a. Dell Computer
   b. Microsoft
   c. Starbucks
   d. Delta Airlines




                                                      365
                                                          Chapter 11 Product and Service Strategies 366

 7. As consumer goods, milk, bread, and soft drinks are all generally classified as
    a. convenience products.
    b. utilitarian products.
    c. shopping products.
    d. specialty products.


 8. As consumer goods, chewing gum, candy, and most vending machine items are classified as
    a. shopping products.
    b. health and beauty aids.
    c. essential needs.
    d. convenience products.


 9. Products that are marketed to consumers who may not yet recognize any need for them, are
    a. unsought products.
    b. consumer products.
    c. convenience products.
    d. specialty products.


10. Which of the following products is, for most consumers, unsought?
    a. designer clothes
    b. magazines
    c. long-term care insurance
    d. furniture

11. Convenience products that consumers constantly replenish to maintain a ready inventory may be
    categorized as
    a. staples.
    b. impulse items.
    c. emergency items.
    d. specialty items.

12. Which of the following products would generally be classified as a staple?
    a. plumbing repair kit
    b. a personal computer
    c. gasoline
    d. a newspaper
13. Supermarkets usually display items such as candy, gum, photo film, and magazines near the checkout
    counter. These products are placed in these locations because they are often bought
    a. on impulse.
    b. based on price.
    c. for trial use.
    d. in large quantities.
14. Money paid to retailers by manufacturers or distributors to guarantee prominent display in stores is
    called a
    a. commercial bribe.
    b. specialty fee.
    c. fabrication payment.
    d. slotting allowance.
                                                           Chapter 11 Product and Service Strategies 367

15. When a consumer sets out to purchase convenience products, he or she
    a. often lacks complete information about what is sought.
    b. seeks to do so immediately with minimal effort.
    c. often visits numerous stores before making a purchase.
    d. may be willing to travel a substantial distance to get what is wanted.


16. Of the following, which would most appropriately be called a convenience store?
    a. a full-service supermarket with a deli, salad bar, and huge parking lot
    b. a walk-in hair salon on a major street
    c. a department store located in a major mall
    d. a freestanding furniture store in a residential neighborhood

17. Consumer shopping products typically include such items as
    a. Coca-Cola and Snapple Iced Tea.
    b. bread, milk, and gasoline.
    c. clothing, furniture, and appliances.
    d. Rolex watches and BMW autos.


18. Of the following, which of the following would most likely be the factor having the greatest influence on
    the decision to buy a homogeneous shopping product?
    a. the product's style
    b. the store's name and reputation
    c. the brand name of the product
    d. the price and perceived value of the product

19. While in Sears, a consumer takes a lot of time to compare the quality, features, and prices of a number
    of refrigerators. This consumer is examining
    a. heterogeneous shopping products.
    b. convenience products.
    c. homogeneous shopping products.
    d. homosapient specialty products.
20. A consumer who is well aware of what he or she wants and who is willing to make a special effort to
    obtain it is interested in
    a. impulse items.
    b. convenience products.
    c. shopping products.
    d. specialty products.
    e. point-of-purchase items.
21. Which of the following products relies least on personal selling?
    a. specialty products
    b. shopping products
    c. unsought products
    d. convenience products
22. When shopping for a __________ product, consumers typically spend a great deal of time comparing
    offerings on the basis of price and quality.
    a. unsought
    b. specialty
    c. shopping
    d. Convenience
                                                            Chapter 11 Product and Service Strategies 368

23. Roberta is buying a product she only buys, at most, once every ten years. She spent a great deal of
    time comparing offerings on the basis of price and quality, and visiting the few retail outlets that sell the
    product. Which type of product is Roberta about to purchase?
    a. unsought
    b. specalty
    c. convenience
    d. shopping


24. Business products would ordinarily not include
    a. installations.
    b. accessory equipment.
    c. specialty products.
    d. component parts.
25. Which of the following business products would be classified as an installation?
    a. jet engines
    b. office furniture
    c. copy paper
    d. regional shopping center
26. The business products most like consumer specialty products are
    a. installations.
    b. accessory equipment.
    c. raw materials.
    d. component parts and materials.
27. As business products, items that are considered capital investments but whose useful lives are
    generally much shorter than those of installations are known as
    a. accessory equipment.
    b. operating supplies.
    c. component parts.
    d. business services.
28. The most expensive category of industrial products on an individual basis is
    a. component parts and materials.
    b. accessory equipment.
    c. installations.
    d. raw materials.
29. In the business market, purchasing installations usually involves
    a. making purchases of a large number of units at a time.
    b. negotiations extending over several months.
    c. dominance of price as a decision factor.
    d. frequent reorders.
30. In the business market, the firm is more interested in efficiency and performance than in price when
    considering the purchase of
    a. accessory equipment.
    b. component parts and materials.
    c. raw materials.
    d. installations.

31. Spark plugs, batteries, and tires that are included with the purchase of an automobile are examples of
    a. installations.
    b. accessory equipment.
    c. component parts and materials.
    d. supplies.
                                                          Chapter 11 Product and Service Strategies 369


32. Raw materials resemble component parts and materials in that they
    a. are considered capital investments to be held for several years.
    b. become part of the buyers' final products.
    c. are finished products before they enter into the production of other products.
    d. are expended without finding their way into finished goods.


33. Business products classified as raw materials are
    a. price-sensitive items.
    b. specialty products for the industrial market.
    c. either farm products or natural products.
    d. MRO items.

34. All of the following are raw materials except
    a. coal
    b. copper
    c. iron ore
    d. steel
35. The "convenience products" of the industrial market are
    a. operating supplies.
    b. accessory equipment.
    c. component parts and materials.
    d. raw materials.
36. In the business market, fax paper, pencils, and office stationery are examples of
    a. maintenance items.
    b. repair items.
    c. operating supplies.
    d. accessory equipment.

37. In the business market, price often exerts a strong influence in the purchase of
    a. business services.
    b. installations.
    c. MRO items.
    d. raw materials.
38. In the decision process for installations in the business market, the purchasing firm buys such a
    product
    a. from the vendor who offers it at the lowest price.
    b. to be as generally useful as possible, not for a specific purpose.
    c. for its efficiency and performance over its useful life.
    d. as quickly as possible without extensive negotiations.
39. In the business market, supplies are also called MRO items because they
    a. are also known as manufacturing requirement options.
    b. fall into the categories of maintenance items, repair items, and operating supplies.
    c. are purchased by specialists called merit re-evaluation officers.
    d. constitute main requirements for operations.

40. For the last twenty years, many firms have devoted much effort to creating goods and services equal
    to any in the world in a movement known as
    a. benchmarking production.
    b. total quality management.
    c. work and time management.
    d. the quality circle phenomenon.
                                                        Chapter 11 Product and Service Strategies 370

41. Zardoz has instituted a continuous effort to improve products and work processes. This is known as
    a. total quality management.
    b. benchmarking.
    c. ISO 9002 certification.
    d. process improvement.


42. Many __________ companies require suppliers to complete ISO certification as a condition of doing
    business with them.
    a. Japanese
    b. Chinese
    c. European
    d. North American

43. Mia works for a cell phone provider. When dealing with customers she always communicates
    confidence that she can help the customer. Which service quality variable is Mia exhibiting?
    a. assurance
    b. responsiveness
    c. empathy
    d. reliability

44. A product line is a group of _________ products marked by physical _______.
    a. related; similarities.
    b. unrelated; similarities.
    c. related; differences.
    d. unrelated; differences.
45. A ___________ is a series of related products offered by one company.
    a. product assortment
    b. product mix
    c. product line
    d. product formula
46. Which of the following is a single product line?
    a. Four-door sedans offered by various automakers.
    b. 125 passenger jets manufactured by Airbus and Boeing.
    c. The five recognized restaurants of Yum! Brands.
    d. Brands of toothpaste.

47. The combination of product lines represents a company’s
    a. product mix.
    b. product cluster.
    c. product lifecycle.
    d. product concept.

48. If Honda was to acquire a bicycle manufacturer, it would add to the ______ of Honda’s product mix.
    a. depth
    b. width
    c. length
    d. cluster

49. Procter & Gamble produces several brands of toothpaste which adds _______ to its product mix.
    a. depth
    b. width
    c. length
    d. clusters
                                                             Chapter 11 Product and Service Strategies 371

50. Adding individual offerings that appeal to difference market segments is known as
    a. the product mix.
    b. the product line.
    c. product line extensions.
    d. product line depth.

51. In a process called _________, products pass through a series of stages from their initial appearance
    to their decline.
    a. wheel of retailing
    b. promotional cycle
    c. pricing cycle
    d. product life cycle

52. During the introductory stage of the product life cycle
    a. the introducer of the product reaps very high profits.
    b. followers enter the producing market.
    c. losses to the introducing firm are common.
    d. the product receives great notoriety.
53. During the introductory stage of the product life cycle,
    a. competitors rush into the market with offerings similar to those of the innovator.
    b. technical problems are common as companies fine-tune product design.
    c. heavy promotional outlays emphasize differences that exist between products.
    d. profits for the product category decline, sometimes actually becoming negative.
54. In which stage do profits generally appear?
    a. decline stage
    b. introductory stage
    c. growth stage
    d. maturity stage
55. A characteristic of the growth stage of the product life cycle is that
    a. new competitors are attracted to the market.
    b. low prices are established.
    c. the early buyers of the product make their initial purchases.
    d. sellers exhaust their inventories.

56. A characteristic of the growth stage of the product life cycle is that

     a.   low prices are established.
     b.   effective competitors improve and modify their products.
     c.   the early buyers of the product make their initial purchases.
     d.   buyers are hesitant to make repurchases.
57. Competition between brands intensifies during which stage of the product life cycle?
    a. the maturity stage
    b. the introductory stage
    c. the growth stage
    d. the diminishing demand period

58. A characteristic of the decline stage of the product life cycle is that
    a. profits decline and may even be negative.
    b. distribution is increased.
    c. available products exceed demand for the first time.
    d. selective demand is cultivated.
                                                          Chapter 11 Product and Service Strategies 372

59. Sales and profits begin to decline markedly, profits sometimes even becoming negative, during which
    of the following stages of the product life cycle?
    a. the decline stage
    b. the diminishing demand period
    c. the growth stage
    d. the maturity stage
60. Fashions with abbreviated life cycles are called
    a. duds.
    b. nondurables.
    c. fads.
    d. staples.
61. A firm's marketing strategy should emphasize stimulating initial demand in the product life cycle stage
    of
    a. introduction.
    b. stabilization.
    c. growth.
    d. maturity.
62. Advertising warning consumers about the dangers of over exposure to the sun, even during the winter
    months, are an attempt by marketers of sunscreen
    a. to increase the number of users for the product.
    b. to find new uses for the product.
    c. to change product quality.
    d. to increase the frequency of use.
63. When Kraft promoted its Crystal Light powdered drink mix during January in addition to the hot
    weather months, it most likely extended the product life cycle by
    a. finding new uses for the product as a recipe ingredient.
    b. increasing the number of users of the product.
    c. increasing the frequency of use (promoting the product year round).
    d. repackaging the product in sizes suitable for use by one person.
64. An example of extending the product life cycle by increasing the frequency of use of a product would
    be
    a. convincing people that a glass of orange juice at every meal is good for them.
    b. marketing oatmeal as a cholesterol reducer.
    c. selling baking soda as an additive for municipal water supplies.
    d. promoting waxed paper as a food covering for microwave cooking.
65. The Walt Disney Company has recently aimed more of its promotional messages at adults. What is
    Disney attempting to do?
    a. increase the number of users
    b. increase the frequency of use.
    c. improve product quality.
    d. increase the number of uses.




                                   Scroll down for Matching
                                                          Chapter 11 Product and Service Strategies 373



MATCHING

      a.   marketing mix                             g.   product line
      b.   good                                      h.   product mix
      c.   product                                   i.   unsought product
      d.   convenience product                       j.   component
      e.   shopping product                          k.   raw material
      f.   specialty product                         l.   total quality management

 66. ________ is a continuous effort to improve products and work processes.
 67. The _____________ is the blending of the four strategy elements to fit the needs and preferences of a
     target market.
 68. Farm products and natural products are examples of __________s.
 69. A(n) ________ is a tangible product.
 70. ___________s are finished products that become part of other products.
 71. Bundle of physical, service, and symbolic attributes is a(n) __________.
 72. A(n) _________ is purchased frequently, immediately, and with minimal effort.
 73. A(n) _________ is marketed to consumers who may not yet recognize the need for it.
 74. A product that a consumer purchases after comparing competing offerings is called a(n) __________.
 75. Assortment of product offerings sold by a firm is called the _________.
 76. A(n) ___________ offers unique characteristics that cause buyers to prize those particular brands.
 77. A(n) ___________ is a series of related products offered by one company.




                                             THE END
                       Scroll down for the ANSWER SHEET
                                                Chapter 11 Product and Service Strategies 374



Prriinciiplles off Marrkettiing
P nc p es o Ma ke ng                        Name:
Testt 11,, Chaptterr Elleven
Tes 11 Chap e E even
Fall 2010                                Due Date: Sunday (12/5/10) by 12 midnight

                                  ANSWER SHEET
                                  ANSWER SHEET

Test 11 is Multiple Choice and Matching, and is worth 10 total points (with 77
actual points including 5 bonus points). All your answers must be in the upper case,
e.g., A, B, C, D. Read each question carefully before entering your answer. KEY IN
YOUR NAME ABOVE.


CORRECT: /72 = .00 = /10


       1.            14.          27.        40.           53.           66.

       2.            15.          28.        41.           54.           67.

       3.            16.          29.        42.           55.           68.

       4.            17.          30.        43.           56.           69.

       5.            18.          31.        44.           57.           70.

       6.            19.          32.        45.           58.           71.

       7.            20.          33.        46.           59.           72.

       8.            21.          34.        47.           60.           73.

       9.            22.          35.        48.           61.           74.

       10.           23.          36.        49.           62.           75.

       11.           24.          37.        50.           63.           76.
                                                                 Bonus         Bonus
       12.           25.          38.        51.           64.           77.
                                                                 Bonus         Bonus
       13.           26.          39.        52.           65.
                                                                 Bonus

				
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