Marketing T2

Question 1 of 116

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1. A service is the tangible component of an offering

Select one of the following:

  • True
  • False

Question 2 of 116

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2. Line depth refers to whether the product line is broad or narrow

Select one of the following:

  • True
  • False

Question 3 of 116

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3. The entire assortment of products that a firm offers is called the product line.

Select one of the following:

  • True
  • False

Question 4 of 116

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4. Price entails how much money a customer gives up to obtain an offering

Select one of the following:

  • True
  • False

Question 5 of 116

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5. The total amount someone pays to own, use, and eventually dispose of a product is the TCO

Select one of the following:

  • True
  • False

Question 6 of 116

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6. Most offerings are either a product or a service.

Select one of the following:

  • True
  • False

Question 7 of 116

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1. Offerings are _____.

Select one of the following:

  • a. products and services designed to deliver value to customers

  • b. services designed to satisfy customer needs

  • c. products designed to satisfy customer wants

  • d. products and services designed to deliver value to a firm

  • e. products and services designed to add value to the firms marketing mix

Question 8 of 116

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2. A(n) _____ is a characteristic of an offering.

Select one of the following:

  • a. tangible good

  • b. feature

  • c. intangible value

  • d. price point

  • e. need

Question 9 of 116

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3. When a feature satisfies a need or want, then there is a(n) _____.

Select one of the following:

  • a. added value

  • b. high quality level

  • c. benefit

  • e. value

Question 10 of 116

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4. A product-dominant approach to marketing is based on the belief that

Select one of the following:

  • a. enjoyment of a product and its disposal are important in understand consumer needs

  • b. marketers should consider what services it takes for the customer to acquire their offerings

  • c. sales personnel and marketing can drive consumerism

  • d. the best way to capture market share is to create and manufacture better products at lower prices.

  • e. marketers should assess the value customers place on products in their daily lives.

Question 11 of 116

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5. A group of related offerings is known as a _____.

Select one of the following:

  • a. technology platform

  • b. product mix

  • c. service mix

  • d. product category

  • e. product line

Question 12 of 116

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6. The four offering levels include all of the following EXCEPT

Select one of the following:

  • a. the product mix.

  • b. the product category.

  • c. the product line

  • d. the basic offering

  • e. the offering’s technology platform

Question 13 of 116

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7. A group of offerings that are sold under the same name is known as a _____.

Select one of the following:

  • a. technology platform

  • b. product mix

  • c. service mix

  • d. product category

  • e. product line

Question 14 of 116

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8. A number of variations in a single product line is known as _____.

Select one of the following:

  • a. line depth

  • b. a product mix

  • c. line breadth

  • d. a product category

  • e. a product line

Question 15 of 116

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9. The number of different or distinct product lines offered by a company is known as _____.

Select one of the following:

  • a. line depth

  • b. a product mix

  • c. line breadth

  • d. a product category

  • e. a product line

Question 16 of 116

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1. Offerings are products and services designed to deliver _____ to customers

Select one of the following:

  • : tangible

  • : features

  • line breadth

  • : value

Question 17 of 116

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2. A product is a(n) _____ that can be bought, sold, and owned.

Select one of the following:

  • : features

  • : value

  • : tangible

  • line breadth

Question 18 of 116

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3. The characteristics of an offering are known as the _____.

Select one of the following:

  • : features

  • : value

  • breadth

Question 19 of 116

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5. A product-orientation is an approach to business that focuses on capturing business by focusing on _____ and _____ better products at lower prices.

Select one of the following:

  • : creating; manufacturing

  • product; mixing

Question 20 of 116

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1. A frequently purchased product that requires little shopping effort is known as an impulse offering.

Select one of the following:

  • True
  • False

Question 21 of 116

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2. A consumer opts not to buy Brand B of potato chips when the grocery store is out of Brand A because it is a shopping offering in the eyes of the consumer.

Select one of the following:

  • True
  • False

Question 22 of 116

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3. Milk, fuel, bread, and other examples of life’s necessities are specialty offerings

Select one of the following:

  • True
  • False

Question 23 of 116

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4. The fact that many consumers would not consider shopping for a taillight until it is in need of repair is an example of an unsought offering.

Select one of the following:

  • True
  • False

Question 24 of 116

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5. Marketers use intensive distribution strategies to ensure consumers see convenience offerings at the right time.

Select one of the following:

  • True
  • False

Question 25 of 116

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6. The categories in which consumer offerings are placed are based on the characteristic of the offerings themselves.

Select one of the following:

  • True
  • False

Question 26 of 116

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1. Marketing of _____ items is often limited to simply trying to get the product in as many places as possible where a purchase could occur.

Select one of the following:

  • a. convenience offerings

  • b. shopping offerings

  • c. specialty offerings

  • d. unsought offerings

Question 27 of 116

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2. Consumers often care about brand names when they’re deciding on _____.

Select one of the following:

  • a. convenience offerings

  • b. shopping offerings

  • c. specialty offerings

  • e. product offerings

Question 28 of 116

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3. _____ are specialty items that are available only through limited channels.

Select one of the following:

  • a. Convenience offerings

  • d. Unsought offerings

  • c. Specialty offerings

  • b. Shopping offerings

Question 29 of 116

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4. Marketing _____ requires building brand name recognition in the minds of consumers and educating them about your product’s key differences.

Select one of the following:

  • a. convenience offerings

  • b. shopping offerings

  • c. specialty offerings

  • d. unsought offerings

  • e. product offerings

Question 30 of 116

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5. _____ are those that buyers do not generally want to have to shop for until they need them.

Select one of the following:

  • a. Convenience offerings

  • b. Shopping offerings

  • c. Specialty offerings

  • d. Unsought offerings

  • e. Product offerings

Question 31 of 116

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1. A convenience offering is a(n) _____-priced product or service.

Select one of the following:

  • low

  • moderate

  • high

Question 32 of 116

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2. A(n) _____ offering is purchased without prior planning.

Select one of the following:

  • impulse

  • unsought

  • specialty

Question 33 of 116

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3. An unsought offering is one that a customer typically does not shop for until _____.

Select one of the following:

  • a need arises

  • extra income is available

  • it is on sale

Question 34 of 116

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4. A crown on a tooth can be considered a(n) _____ offering

Select one of the following:

  • unsought

  • specialty

  • impulse

Question 35 of 116

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5. _____ are products and services consumers generally don’t want to put much effort into shopping for because they see little difference between competing brands.

Select one of the following:

  • convenience offerings

  • specialty offerings

  • unsought offerings

Question 36 of 116

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1. A company that assembles and manufactures a product into its final form is known as an OFM.

Select one of the following:

  • True
  • False

Question 37 of 116

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1. A company that assembles and manufactures a product into its final form is known as an OEM.

Select one of the following:

  • True
  • False

Question 38 of 116

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2. Manufacturing, repair, and operations offerings are those that keep a company’s depreciable assets in working order.

Select one of the following:

  • True
  • False

Question 39 of 116

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3. Facilitating offerings are products and services a company purchases to support its operations but are not part of the firm’s final product.

Select one of the following:

  • True
  • False

Question 40 of 116

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4. A manufactured material has been processed into a finished good and is a stand-alone product

Select one of the following:

  • True
  • False

Question 41 of 116

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5. Because most businesses buy MRO items in large quantities and because these firms also need products not available to the general public, they will generally buy these products from a distributor.

Select one of the following:

  • True
  • False

Question 42 of 116

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1. Banking and transportation services are types of _____.

Select one of the following:

  • a. original equipment manufacturing offerings

  • b. capital equipment offerings

  • c. facilitating offerings

  • d. raw materials offerings

  • e. maintenance, repair, operations offerings

Question 43 of 116

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2. Marketing _____ can be very challenging because many people within a firm are involved in the buying decision for these types of products.

Select one of the following:

  • a. original equipment manufacturing offerings

  • b. capital equipment offerings

  • c. facilitating offerings

  • d. raw materials offerings

  • e. maintenance, repair, operations offerings

Question 44 of 116

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3. _____ are typically thought of as commodities, so price and availability are very important in relation to the competition.

Select one of the following:

  • a. Original equipment manufacturing offerings

  • b. Capital equipment offerings

  • c. Facilitating offerings

  • d. Raw materials offerings

  • e. Maintenance, repair, operations offerings

Question 45 of 116

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4. _____ consist of final products that have been put together from raw materials, manufactured materials, and/or component parts.

Select one of the following:

  • a. Original equipment manufacturing offerings

  • b. Capital equipment offerings

  • c. Facilitating offerings

  • d. Raw materials offerings

  • e. Maintenance, repair, operations offerings

Question 46 of 116

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5. _____ are often sold by distributors but a consumer can also buy many of the same products at a retail store.

Select one of the following:

  • a. Original equipment manufacturing offerings

  • b. Capital equipment offerings

  • c. Facilitating offerings

  • d. Raw materials offerings

  • e. Maintenance, repair, operations offerings

Question 47 of 116

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6. _____ might not be central to the buyer’s business, but the offerings are very important to a person making the buying decision.

Select one of the following:

  • a. Original equipment manufacturing offerings

  • b. Capital equipment offerings

  • c. Facilitating offerings

  • d. Raw materials offerings

Question 48 of 116

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7. A _____ is a finished good that still has to be incorporated into something else to be usable

Select one of the following:

  • a. manufactured material

  • b. finalized material

  • c. component piece

  • d. dynamic product

Question 49 of 116

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1. Capital equipment offerings include tangible equipment business purchases that are _____.

Select one of the following:

  • specialized

  • depreciated

  • facilitated

Question 50 of 116

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2. A(n) _____ has been processed into a finished good but is not a stand-alone product

Select one of the following:

  • raw product

  • manufactured material

Question 51 of 116

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3. _____ support an organization’s ability to do business but do not go into the final product

Select one of the following:

  • Facilitating offerings

  • manufacturing offerings

  • OEM offerings

Question 52 of 116

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4. _____ are processed only to the point required for economic handling and distribution.

Select one of the following:

  • raw materials

  • manufactured material

  • OEM components

Question 53 of 116

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5. OEM offerings include products, or parts, sold by one manufacturer to another that get built into a final product without _____.

Select one of the following:

  • further modification

  • maintenance

Question 54 of 116

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1. A brand extension involves the creation of a brand and then positioning it in the mind of the consumer.

Select one of the following:

  • True
  • False

Question 55 of 116

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2. An example of a brand mark is Coca-Cola

Select one of the following:

  • True
  • False

Question 56 of 116

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3. A brand is used by a seller to differentiate its offerings from that of the competitors.

Select one of the following:

  • True
  • False

Question 57 of 116

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4. Ideally when you sell a new product, you hope that all of its sales come from your competitor’s customer base or customers new to the market.

Select one of the following:

  • True
  • False

Question 58 of 116

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5. Both a completely new offering and a line extension will likely result in cannibalization

Select one of the following:

  • True
  • False

Question 59 of 116

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6. Packaging can be part of the brand

Select one of the following:

  • True
  • False

Question 60 of 116

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7. Secondary packaging holds a single retail unit of a product

Select one of the following:

  • True
  • False

Question 61 of 116

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8. Packaging can add value to your product

Select one of the following:

  • True
  • False

Question 62 of 116

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1. A symbol or logo used to identify a brand is known as a _____.

Select one of the following:

  • a. brand mark

  • b. brand

  • c. brand name

  • d. brand extension

  • e. brand package

Question 63 of 116

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2. A brand is _____.

Select one of the following:

  • a. simply a label

  • b. a name, picture, design, or symbol used by a seller to differentiate their offerings

  • c. a picture that is similar to another company’s design

  • d. a slogan that conveys the firm’s image

  • e. an advertising campaign

Question 64 of 116

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3. A successful branding strategy

Select one of the following:

  • a. creates revenue for the company

  • b. invokes negative advertising campaigns from competitors

  • c. creates consumer recognition of what the brand means

  • d. results in a company being considered “cool.”

  • e. segments customers based on their needs.

Question 65 of 116

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4. Pepsi is an example of a(n) _____.

Select one of the following:

  • a. brand strategy

  • b. brand mark

  • c. brand statement

  • d. brand name

Question 66 of 116

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5. _____ occurs when a firm’s new offering eats into the sales of one of its older offerings.

Select one of the following:

  • a. Brand extension

  • b. Brand strategy

  • c. Saturation

  • d. Product failure

  • e. Cannibalization

Question 67 of 116

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1. A brand is used by a seller to _____ its offerings from competitors’ offerings.

Select one of the following:

  • compare

  • communicate

  • differentiate

Question 68 of 116

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2. A brand name is the _____ part of an identity used to describe the brand.

Select one of the following:

  • spoken

  • recognized

  • written

Question 69 of 116

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3. A brand mark is a(n) _____ or _____ used to identify a brand.

Select one of the following:

  • symbol; logo

  • word; phrase

Question 70 of 116

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4. _____ packaging is designed to hold a single wholesale unit of a product

Select one of the following:

  • secondary

  • primary

  • tertiary

Question 71 of 116

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5. Primary packaging is designed to hold a single _____ unit of a product

Select one of the following:

  • retail

  • wholesale

Question 72 of 116

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6. A brand extension entails the process of utilizing an existing brand name or brand mark for a(n)

Select one of the following:

  • new product category

  • new retail outlet

Question 73 of 116

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7. _____ is designed for the shipping and handling of large quantities of product.

Select one of the following:

  • tertiary

  • primary

  • secondary

Question 74 of 116

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1. Vertical market managers are found only in B2B markets.

Select one of the following:

  • True
  • False

Question 75 of 116

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2. Market managers have the most flexibility in terms of pricing and product decisions.

Select one of the following:

  • True
  • False

Question 76 of 116

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3. Market managers are likely to be tasked with implementing a product or brand manager’s strategy.

Select one of the following:

  • True
  • False

Question 77 of 116

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4. At the retail level, a category manager at each store is responsible for one manufacturer’s products.

Select one of the following:

  • True
  • False

Question 78 of 116

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5. Product managers are found at companies like Procter & Gamble, SC Johnson, and Kraft.

Select one of the following:

  • True
  • False

Question 79 of 116

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1. Which type of manager has the most marketing responsibility?

Select one of the following:

  • a. category manager

  • b. market manager

  • c. value manager

  • d. brand manager

  • e. vertical market manager

Question 80 of 116

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2. Market managers can be found in which types of markets?

Select one of the following:

  • a. consumer and B2B

  • b. consumer and regional

  • c. B2B and industrial

  • d. regional and B2B

  • e. industrial and consumer

Question 81 of 116

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3. _____ are found at Xerox, IBM, and Rockwell International; while _____ are found at Microsoft, General Mills, and Target.

Select one of the following:

  • a. Brand managers; market managers

  • b. Brand managers; product managers

  • c. Product managers; brand managers

  • d. Product managers; market managers

Question 82 of 116

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4. A _____ is responsible for a broad group of offerings, such as home cleaning products, which have various brands within each group.

Select one of the following:

  • a. product manager

  • b. brand manager

  • c. market manager

  • d. category manager

  • e. vertical integration manager

Question 83 of 116

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5. A _____ is the person responsible for all business decisions regarding offerings within one brand

Select one of the following:

  • a. product manager

  • b. brand manager

  • c. market manager

  • d. category manager

Question 84 of 116

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1. A(n) ______ is a person responsible for all business decisions regarding offerings within one brand.

Select one of the following:

  • brand manager

  • category manager

  • product manager

Question 85 of 116

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2. A product manager is responsible for a(n) _____ or _____.

Select one of the following:

  • product; product line

  • brand; brand name

Question 86 of 116

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3. Vertical marketing managers oversee _____ products sold to a particular industry

Select one of the following:

  • B2B

  • C2B

  • B2C

Question 87 of 116

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4. Market managers have _____ over the communication content of marketing campaigns or market strategies.

Select one of the following:

  • no control

  • complete control

  • some control

Question 88 of 116

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5. A(n) _____ has responsibility for business decisions within a broad grouping of offerings

Select one of the following:

  • category manager

  • brand manager

  • product manager

Question 89 of 116

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A market can be defined as

Select one of the following:

  • geographic market or region

  • a market segment

  • a type of business

  • channel of distribution

  • All of the above

Question 90 of 116

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_________ Decide what products are to be marketed and how

Select one of the following:

  • market managers

  • brand managers

Question 91 of 116

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1. The size of a company will affect how the different stages of their new product development process are conducted.

Select one of the following:

  • True
  • False

Question 92 of 116

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2. In B2B markets, customers are typically a large source of new product ideas

Select one of the following:

  • True
  • False

Question 93 of 116

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3. New product ideas typically move down the supply chain

Select one of the following:

  • True
  • False

Question 94 of 116

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4. Idea generation is typically the most expensive step in the process of developing new offerings

Select one of the following:

  • True
  • False

Question 95 of 116

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6. Focus groups are conducted during the testing stage of the new offerings development process.

Select one of the following:

  • True
  • False

Question 96 of 116

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7. Depth interviews involve gathering eight to twelve consumers and gauging their reaction to a product/service concept.

Select one of the following:

  • True
  • False

Question 97 of 116

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8. The purpose of concept testing is to get early consumer feedback before investing too much money in an offering that won’t work.

Select one of the following:

  • True
  • False

Question 98 of 116

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9. Financial feasibility is the degree to which the company can actually make and service the product.

Select one of the following:

  • True
  • False

Question 99 of 116

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10. The risk that there is a better idea that gets ignored because the firm has invested in the idea at hand is known as opportunity risk.

Select one of the following:

  • True
  • False

Question 100 of 116

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11. Quality function deployment is the process whereby a company starts with the innovation and then designs an offering.

Select one of the following:

  • True
  • False

Question 101 of 116

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12. Testing is a relatively inexpensive step in the product development process.

Select one of the following:

  • True
  • False

Question 102 of 116

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13. A company that makes an offering available to certain markets first and then other markets later is employing a rolling launch strategy.

Select one of the following:

  • True
  • False

Question 103 of 116

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14. Milestones utilized by companies to evaluate product performance are typically the same within an industry.

Select one of the following:

  • True
  • False

Question 104 of 116

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15. Most companies put new offering ideas through a seven-step process.

Select one of the following:

  • True
  • False

Question 105 of 116

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1. Customers who are good at generating new product ideas or applications of products are called _____.

Select one of the following:

  • lead users

  • alpha users

  • innovators

  • trend setters

Question 106 of 116

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2. A line extension occurs when a company comes out with another model based on the same _____ and _____ as one of its other products.

Select one of the following:

  • a. platform; advertising

  • b. platform; brand

  • c. brand; advertising

  • d. marketing mix; offering

  • e. offering; consumers

Question 107 of 116

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3. In the idea screening stage, companies evaluate new offerings by determining

Select one of the following:

  • a. if the product cost more during idea generation than expected

  • b. the product’s features.

  • c. if the product fits with the image and corporate strategy

Question 108 of 116

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4. In what stage of the new product development process does concept testing occur?

Select one of the following:

  • a. launch

  • b. idea generation

  • c. development

  • d. idea screening

Question 109 of 116

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5. To understand if a product offering is financially feasible, companies often consider the customer’s

Select one of the following:

  • a. potential interest in the product.

  • b. demographics, including income

  • c. value segmentation

  • d. price point

  • e. personal value equation

Question 110 of 116

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6. _____ refers to the possibility that the company will fail to earn the appropriate return on the money and effort it puts into the new product.

Select one of the following:

  • a. Investment risk

  • b. Financial risk

  • c. Opportunity risk

  • d. Innovation risk

Question 111 of 116

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7. Quality function deployment is a process utilized in which step of the product development process?

Select one of the following:

  • a. launch

  • b. feature specification

  • c. development

Question 112 of 116

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8. The feature specifications process begins with a strong understanding of

Select one of the following:

  • a. what risks are involved

  • b. what opportunity costs are entailed

  • c. what consumers want and need

Question 113 of 116

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9. A firm considers the product’s manufacturing process during which stage of the product development process?

Select one of the following:

  • a. launch

  • b. feature specification

  • c. development

Question 114 of 116

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10. In terms of a manufactured offering, using the same technology platform as another product can be

Select one of the following:

  • a. costly and cumbersome

  • b. seen as having a lack of innovative spirit

  • c. a subpar strategy

  • d. effective and less expensive

Question 115 of 116

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11. _____ ensures that a product meets its specifications in a variety of environments determined by the company.

Select one of the following:

  • a. Concept testing

  • b. Product testing

  • c. Alpha testing

Question 116 of 116

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12. _____ not only tests whether the offering works as advertised, but it also tests the offering’s delivery mechanisms, service processes, and other aspects of marketing the product.

Select one of the following:

  • Concept testing

  • Alpha testing

  • Beta testing

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Marketing T2

James Worthy
Quiz by , created about 2 years ago

Quiz on Marketing T2, created by James Worthy on 05/11/2014.

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James Worthy
Created by James Worthy about 2 years ago
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