Chapter 7 Of Marketing
Chapter 7 quiz for Univ of Portland Marketing Quiz. This will help in preparing for exams.
Questions and Answers
- 1.
Anything that can be offered to a market for attention, acqusition, use or consumption that might satisfy a want or need is a
- A.
Service
- B.
Product
- C.
Market
- D.
Brand
Correct Answer
B. ProductExplanation
A product is something that can be offered to a market to satisfy a want or need. It can be tangible, such as a physical item, or intangible, such as a service or experience. This can include goods, services, or a combination of both. A product is created to fulfill a specific purpose or to provide a solution to a problem. It is designed to be consumed or used by customers, and it is offered in exchange for money or other forms of value.Rate this question:
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- 2.
Form of product that consists of activities, benefits or satisfaction offered for sale that are intangible and do not result in ownership are called
- A.
Brand
- B.
Convenience Product
- C.
Services
- D.
Pseudo Product
Correct Answer
C. ServicesExplanation
Services are the correct answer because they are intangible and do not result in ownership. Unlike physical products, services cannot be touched or possessed. They are activities or benefits provided by one party to another, usually in exchange for payment. Examples of services include haircuts, legal advice, and car repairs.Rate this question:
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- 3.
When you go to a dentist for tooth extraction and receive a bill. The dentist has charged you for
- A.
Augmented Product
- B.
Capital Items
- C.
Image Advertising
- D.
Services
Correct Answer
D. ServicesExplanation
The dentist has charged you for services rendered during the tooth extraction. Services refer to the intangible activities or tasks performed by the dentist, such as the examination, anesthesia administration, tooth extraction, and any follow-up care. These services are the primary offering of the dentist and are the reason for the bill. The other options, such as augmented product, capital items, and image advertising, do not apply in this context as they do not directly relate to the services provided during the tooth extraction.Rate this question:
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- 4.
A person buying Coca Cola is really buying thirst quencher. This is an example of
- A.
Core benefit
- B.
Actual Product
- C.
Augmented Product
- D.
Service
Correct Answer
A. Core benefitExplanation
The core benefit refers to the fundamental need or problem that a product or service solves for the customer. In this case, the person buying Coca Cola is seeking to quench their thirst, which is the core benefit provided by the product. The actual product refers to the tangible features and attributes of the product, such as the taste and packaging of Coca Cola. Augmented product refers to additional services or benefits that accompany the product, such as customer support or loyalty programs, which may not be applicable in this scenario. Service refers to the assistance or support provided by the company, which may also not be relevant in the context of buying Coca Cola.Rate this question:
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- 5.
Example of augmented product is (more than one may be correct)
- A.
Honda providing warranty with its car
- B.
Pamper selling diapers
- C.
Dell selling printers
- D.
Amazon giving away a free set of books with Kindle
Correct Answer(s)
A. Honda providing warranty with its car
D. Amazon giving away a free set of books with KindleExplanation
The examples provided demonstrate augmented products, which refer to additional features or services that go beyond the core product. Honda providing a warranty with its car is an example of an augmented product as it offers a guarantee of quality and assurance to the customer. Similarly, Amazon giving away a free set of books with Kindle enhances the value of the product by providing additional content and enhancing the user experience.Rate this question:
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- 6.
A light bulb can be considered all of the following EXCEPT
- A.
A consumer product.
- B.
An business-to-business product.
- C.
Either a consumer product or an industrial product.
- D.
An industrial product if it is used to light an assembly line in a factory.
- E.
A consumer product if it is used to light the office of the board of directors.
Correct Answer
E. A consumer product if it is used to light the office of the board of directors.Explanation
A light bulb can be considered a consumer product because it is commonly used by individuals in their homes. It can also be considered an industrial product if it is used to light an assembly line in a factory, as it serves a commercial purpose. However, if it is used to light the office of the board of directors, it may not be considered a consumer product as it is being used in a professional setting rather than for personal use.Rate this question:
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- 7.
An example of a convenience consumer product is
- A.
Stereo equipment.
- B.
Petrol.
- C.
A motorcycle.
- D.
A bicycle.
- E.
Athletic shoes.
Correct Answer
B. Petrol.Explanation
Petrol is considered a convenience consumer product because it is widely available and easily accessible to consumers. It is a product that is commonly used for transportation purposes and is often purchased on a regular basis. Additionally, petrol is a product that is convenient to use and does not require any additional equipment or accessories for its consumption.Rate this question:
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- 8.
Sue North called several airlines to compare rates and chose a flight on Alaska Airlines as it had a better reputation for service and competitive prices. The airline ticket is an example of which type of product?
- A.
Convenience
- B.
Shopping
- C.
Specialty
- D.
Unsought
Correct Answer
C. SpecialtyExplanation
The airline ticket is an example of a specialty product. Specialty products are unique or high-end items that consumers are willing to make a special effort to obtain. In this case, Sue North specifically chose Alaska Airlines because of its better reputation for service and competitive prices, indicating that she considered it to be a special and unique option compared to other airlines.Rate this question:
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- 9.
If a customer compares a good based on suitability, quality, price and style then this good is a ______
- A.
Convenience Product
- B.
Shopping Product
- C.
Specialty Product
- D.
Augmented Product
Correct Answer
B. Shopping ProductExplanation
A shopping product is the correct answer because it is a type of product that requires more time and effort from the customer to compare and evaluate different options based on factors like suitability, quality, price, and style. Shopping products are usually more expensive and less frequently purchased than convenience products.Rate this question:
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- 10.
If Microsoft orders pens, pencils and staplers for its office it is an example of
- A.
Unsought Product
- B.
Materials and Parts
- C.
Capital Items
- D.
Supplies and Services
Correct Answer
D. Supplies and ServicesExplanation
Microsoft ordering pens, pencils, and staplers for its office is an example of "Supplies and Services." This is because these items are necessary for the day-to-day operations of the office and are considered as essential supplies. They are not considered as capital items, which are long-term assets, nor are they materials and parts used in the production process. Additionally, they are not unsought products, as Microsoft actively seeks and orders these items for its office needs.Rate this question:
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- 11.
A life insurance agent's task is very difficult because he is trying to sell _______
- A.
Augmented Product
- B.
Capital Item
- C.
Unsought Product
- D.
Convenience Product
Correct Answer
C. Unsought ProductExplanation
A life insurance agent's task is very difficult because he is trying to sell an unsought product. Unsought products are those that consumers do not actively seek out or think about purchasing. Life insurance falls into this category as it is not something that people typically think about or consider purchasing until a specific need arises, such as starting a family or reaching a certain age. Therefore, the agent faces the challenge of convincing potential customers of the importance and value of life insurance, making their task difficult.Rate this question:
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- 12.
Apple Computer's logo (see below) is an example of
- A.
Materials and Parts
- B.
Corporate Image Advertising
- C.
Personal Advertising
- D.
Personal Selling
Correct Answer
B. Corporate Image AdvertisingExplanation
The Apple Computer logo is a well-known symbol that represents the company's image and brand identity. It is widely recognized and associated with Apple's products and innovation. The logo serves as a visual representation of the company's values, reputation, and overall corporate image. Through consistent use and exposure, the logo helps to build and maintain a positive perception of Apple in the minds of consumers. Therefore, the Apple Computer logo is an example of corporate image advertising, as it effectively promotes and reinforces the company's brand image.Rate this question:
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- 13.
_________________ is defined as ability of a product to perform its functions.
- A.
Labeling
- B.
Packaging
- C.
Product Features
- D.
Product Quality
Correct Answer
D. Product QualityExplanation
Product quality refers to the ability of a product to perform its functions effectively and meet the expectations of the customers. It includes various aspects such as durability, reliability, performance, and overall satisfaction. A product with high quality is able to deliver the desired outcomes and provide value to the customers. Therefore, product quality is the most suitable option among the given choices to define the ability of a product to perform its functions.Rate this question:
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- 14.
Toyota offers multiple versions of Camry. These versions differ in _____________
- A.
Product Quality
- B.
Product Features
- C.
Product Style
- D.
Product Design
Correct Answer
B. Product FeaturesExplanation
Toyota offers multiple versions of the Camry, each with different product features. This means that the various versions of the Camry have distinct characteristics and attributes that set them apart from one another. These features may include different technology options, interior amenities, safety features, and performance enhancements. By offering a range of product features, Toyota caters to different customer preferences and needs, allowing individuals to choose the Camry version that best suits their requirements and desires.Rate this question:
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- 15.
Style is described as the appearance of a product whereas Design includes BOTH
- A.
Features
- B.
Functionality
- C.
Looks
- D.
Quality
Correct Answer(s)
B. Functionality
C. LooksExplanation
This statement suggests that style refers to the appearance of a product, while design encompasses both functionality and looks. It implies that design is not solely focused on the visual aesthetics but also includes the practicality and performance of the product. Therefore, the correct answer includes both functionality and looks as essential components of design.Rate this question:
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- 16.
A Brand
- A.
Helps consumers identify products that might benefit them
- B.
Is the basis on which whole stories about product can be build
- C.
Provide legal protection to manufacturer from piracy
- D.
Allows manufacturer to segment market
Correct Answer(s)
A. Helps consumers identify products that might benefit them
B. Is the basis on which whole stories about product can be build
C. Provide legal protection to manufacturer from piracy
D. Allows manufacturer to segment marketExplanation
A brand helps consumers identify products that might benefit them by creating a recognizable and trustworthy image. It is the basis on which whole stories about a product can be built, as it represents the values, benefits, and unique selling points of the product. Brands also provide legal protection to manufacturers from piracy, as they can be trademarked and protected by intellectual property laws. Additionally, brands allow manufacturers to segment the market by targeting specific consumer groups with tailored marketing strategies and product offerings.Rate this question:
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- 17.
While shopping for financial products at Bank of America, a chat window will pop up inviting you to chat with a live agent. This is an example of ______________
- A.
Branding
- B.
Product Support Services
- C.
Labeling
- D.
Packaging
Correct Answer
B. Product Support ServicesExplanation
The correct answer is Product Support Services. When shopping for financial products at Bank of America, a chat window pops up inviting you to chat with a live agent. This indicates that the bank offers product support services to assist customers in their shopping experience.Rate this question:
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- 18.
Timex sells it watches under different groups like Automatic, Expedition, IronMan. These are examples of
- A.
Product Line
- B.
Augmented Product
- C.
Unwanted Products
- D.
Industrial Products
Correct Answer
A. Product LineExplanation
The given options include "Product Line," "Augmented Product," "Unwanted Products," and "Industrial Products." Among these options, "Product Line" is the correct answer because it accurately describes the different groups under which Timex sells its watches. A product line refers to a group of related products that are marketed and sold by a company. In this case, Timex has different groups or categories such as Automatic, Expedition, and IronMan, which are examples of their product line.Rate this question:
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- 19.
Procter & Gamble makes at least eight different detergents This illustrates:
- A.
Product mix width
- B.
Product mix consistency
- C.
Product mix depth
- D.
Product line depth
Correct Answer
A. Product mix widthExplanation
The correct answer is product mix width. This is because product mix width refers to the number of different product lines that a company offers. In this case, Procter & Gamble offers at least eight different detergents, indicating a wide range of product lines within their product mix.Rate this question:
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- 20.
Honda offers following models of Civic: LX, GX, ES, EX. These different models are examples of
- A.
Product Mix Width
- B.
Product Mix Length
- C.
Consistency
- D.
Product line depth
Correct Answer
C. ConsistencyExplanation
The different models of Civic offered by Honda, namely LX, GX, ES, and EX, represent the consistency of their product mix. Consistency refers to the similarity or relatedness of the products within a product line. In this case, all the Civic models share the same brand name and are variations of the same product line, differing mainly in features and specifications. Therefore, the correct answer is consistency.Rate this question:
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- 21.
Which of these are examples of low consistency in Product Mix
- A.
Toyota offers Camry, Prius and Corolla cars
- B.
Tata offers trucks, hair oil and salt
- C.
Marriott offers differnt types of hotels like Courtyardm Fairfield Inn etc
- D.
GE offers jet engines, electric bulbs, appliances
Correct Answer(s)
B. Tata offers trucks, hair oil and salt
D. GE offers jet engines, electric bulbs, appliancesExplanation
The examples of low consistency in product mix are Tata offering trucks, hair oil, and salt, and GE offering jet engines, electric bulbs, and appliances. This is because both Tata and GE have a wide range of products that are unrelated to each other and do not have a common theme or target market. This lack of consistency can make it difficult for consumers to associate the brand with a specific product or industry.Rate this question:
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- 22.
__________ is positive differential effect that knowing the brand name has on customer response to a product or service.
- A.
Customer satisfaction
- B.
Brand Loyalty
- C.
Brand Equity
- D.
Product mix
Correct Answer
C. Brand EquityExplanation
Brand equity refers to the positive impact that knowing and recognizing a brand name has on customer response to a product or service. It represents the value and perception that customers associate with a particular brand, including their trust, loyalty, and willingness to pay a premium for that brand. Brand equity is built over time through consistent branding, marketing efforts, and delivering a superior customer experience. It is an important asset for companies as it can lead to increased customer satisfaction, brand loyalty, and ultimately, higher sales and profits.Rate this question:
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- 23.
Victoria's Secret is able to sell mundane and basic commodity at a premium price by creating an aura around the products. This is an example of what kind of brand positioning
- A.
Basic Branding
- B.
Product Attributes
- C.
Desirable benefits
- D.
Beliefs and Values
Correct Answer
D. Beliefs and ValuesExplanation
Victoria's Secret is able to sell mundane and basic commodities at a premium price by creating an aura around the products. This suggests that the brand has successfully positioned itself based on beliefs and values. By associating their products with a certain lifestyle, exclusivity, and desirability, Victoria's Secret creates a perception that goes beyond the product attributes. This positioning strategy appeals to customers who share similar beliefs and values, allowing the brand to command a higher price for their products.Rate this question:
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- 24.
QC at Winco, Sam's Club at Wal Mart are examples of
Correct Answer
Private Brand
Private Brands
Store Brand
Store BrandsExplanation
Private brand and store brand are interchangeable terms used to describe products that are exclusively sold by a particular retailer. These products are typically manufactured by a third-party company but are labeled with the retailer's own branding. Examples of private brands include QC at Winco and Sam's Club at Walmart. These brands offer retailers the opportunity to differentiate themselves from competitors and provide unique products to their customers.Rate this question:
- 25.
Use of a successful brand name to launch new or modified products in a new category is called ______________
- A.
Co-branding
- B.
Line extension
- C.
Private Brands
- D.
Brand Extension
Correct Answer
D. Brand ExtensionExplanation
Brand extension refers to the use of an established and successful brand name to introduce new or modified products in a different category. This strategy leverages the existing brand equity and consumer trust to expand into new markets or product categories. By associating the new products with a well-known brand, companies aim to capitalize on the brand's reputation and customer loyalty to drive sales and gain a competitive advantage in the new category.Rate this question:
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Mar 22, 2023Quiz Edited by
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Feb 24, 2010Quiz Created by
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