Which of the following is an example of a pure tangible good

Subject: Business / Marketing
Question
Marketing Principles Test Preparation 2

1. Which of the following is an example of a pure tangible good?

A) a laptop with a comprehensive warranty for three years
B) an online shoe retailer that provides free home delivery
C) an agency that offers free legal advice
D) a credit card
E) a bag of potato chips

2. ________ are industrial products.

A) Capital items
B) Specialty products
C) Retail items
D) Shopping products
E) Convenience products

3. ________ are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.

A) Unsought products
B) Capital items
C) Shopping products
D) Convenience products
E) Supplies and repair services

4. Which of the following is an example of a convenience product? A) fast food

B) diamond ring C) furniture
D) life insurance E) refrigerator

5. ________ are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.

A) Shopping products
B) Convenience products
C) Unsought products
D) Capital items
E) Supplies and repair services

6. Erica wants to replace her old washing machine with a new one. In order to get the maximum value for her money, she plans to spend substantial time and effort in gathering information and making product comparisons before making the actual purchase. In this instance, Erica is planning to buy a ________ product.

A) convenience

B) unsought

C) specialty
D) shopping

E) exclusive

7. ________ are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.

A) Shopping products B) Unsought products C) Specialty products D) Capital items

E) Convenience products

8. A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania from locally grown wood, is an example of a(n) ________.

A) convenience product B) capital item
C) specialty product
D) service

E) product attribute

9. ________ are consumer products that the consumer either does not know about or knows about but does not normally think about buying.

A) Specialty products
B) Convenience products C) Unsought products
D) Shopping products
E) Capital items

10. ________ are those products purchased for further processing or for use in conducting a business.

A) Unsought products B) Specialty products
C) Shopping products
D) Industrial products
E) Convenience products

11. ________ are industrial products that aid in the buyer’s production or operations, including installations and accessory equipment.

A) Unsought products
B) Convenience products C) Capital items
D) Specialty items
E) Repair items

12. A ________ is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges.

A) product line B) line extension C) private brand D) multibrand E) new brand

13. A ________ consists of all the product lines and items that a particular seller offers for sale.

A) product mix B) store brand C) supply chain D) value chain E) line extension

14. ________ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought.

A) Service inseparability B) Service variability
C) Service intangibility D) Service perishability E) Service heterogeneity

15. Which of the following actions is a restaurant owner most likely to take in order to reduce problems associated with service intangibility?

A) increase entree prices after 6 p.m.
B) provide clean tablecloths and fresh napkins for each new customer C) empower employees to handle customer complaints
D) offer discounted prices for appetizers ordered during happy hour E) hold regular employee workshops focusing on customer service

16. ________ means that the quality of services depends on who provides them as well as when, where, and how they are provided.

A) Service intangibility B) Service inseparability C) Service variability
D) Service perishability E) Service heterogeneity

17. ________ means that services cannot be stored for later sale or use. A) Service consistency
B) Service perishability
C) Service variability
D) Service intangibility
E) Service inseparability

18. Which of the following is an internal source for new-product ideas? A) competitors
B) company executives
C) marketing research firms
D) trade magazines
E) government agencies

19. A review of the sales, costs, and profit projections for a new product to find out whether they satisfy the company’s objectives is called a ________.

A) business feasibility plan
B) marketing strategy development C) business analysis
D) product acceptance
E) business proposal

20. Once the prototype of Wainwright Industries’ new riding lawnmower, made especially for women, passes product tests, the next step is ________.

A) test marketing
B) focus group surveys C) commercialization D) concept testing
E) business analysis

21. Yummy Peanut Butter created a new coconut-flavored peanut butter that it tested in a small number of representative cities. The company plans to use the results to forecast national sales and profits. Which of the following did the firm use?

A) controlled test markets B) simulated test markets C) standard test markets D) ambush marketing

E) affinity marketing

22. Introducing a new product into the market is called ________. A) test marketing
B) simulation
C) co-marketing
D) commercialization
E) segmentation

23. A company getting ready to launch a new product must make several decisions. The company must first decide on ________.

A) whether to launch the product in a single location
B) whether to launch the product in a region
C) whether to launch the product into full national distribution D) when to introduce the product
E) when to develop a planned market rollout

24. Which of the following statements characterizes the introduction stage of the PLC? A) There are increased marketing outlays.
B) Profits are nonexistent.
C) The company incurs minimal expenses.
D) The product achieves acceptance by most potential buyers.
E) Promotional expenditures are zero.

25. ________ involves adding more items within the present range of the product line. A) Market diversification
B) Brand extension
C) Product line filling
D) Upward product line stretching
E) Downward product line stretching

26. The strongest brands are positioned on ________. A) desirable benefit
B) good packaging
C) service inseparability
D) strong beliefs and values
E) product attributes

27. ________ involves the use of a successful brand name for new or modified products in a new category.

A) A line extension B) A product line
C) A brand extension D) Co-branding

E) Cannibalization

28. Which stage of new-product development requires management to estimate minimum and maximum sales to assess the range of risk in launching a new product?

A) concept testing
B) marketing strategy development C) business analysis
D) product development
E) test marketing

29. Over the past few years, Binney and Smith’s Crayola crayons have been preferred by users in more than 80 countries around the world. Crayola crayons are in the ________ stage of the PLC.

A) introduction B) laggard
C) maturity
D) decline

E) incubation

30. Which of the following stages of the PLC is characterized with the same level or slightly higher level of promotional expenditures in an attempt to respond to increasing competition?

A) growth
B) decline
C) maturity
D) product development E) adoption

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