1) ________ are tangible goods that normally survive many uses.
A) Durable goods
B) Nondurable goods
C) Consumption systems
D) Services
E) Potential products
2) Most products can be offered with varying ________ that supplement its basic
function.
A) conformance qualities
B) reliability
C) features
D) forms
E) none of the above
3) A ________ is the set of all products and items a particular seller offers for
sale.
A) family of products
B) product class
C) product system
D) product mix
E) product line
4) The ________ of the product mix refers to the total number of items in the mix.
A) width
B) length
C) height
D) depth
E) consistency
5) In offering a product line, companies normally develop a ________ and modules
that can be added to meet different customer requirements.
A) product
B) basic platform
C) convenience item
D) "best selling" item
E) staple item
6) The ________ of a product mix refers to how many variants are offered of each
product in the line.
A) height
B) depth
C) consistency
D) length
E) width
7) Price-setting logic must be modified when the product is part of a product mix.
In that case, the firm searches for a set of prices that ________ profits on the
total mix.
A) have no effect on total
B) maximize
C) are ineffective on total
D) minimize
E) capitalize upon
8) Some services require that the client be present to conduct the service. An
example of such a service is a ________.
A) car repair
B) fast-food meal
C) medical operation
D) vending machine
E) tax service
9) Services high in ________ qualities are those services that have characteristics
the buyer normally finds hard to evaluate even after consumption.
A) search
B) equipment
C) personal attention
D) experience
E) credence
10)There are shifts that favor the customer in the client relationship. Customers
are now becoming more sophisticated about buying product-support services
and are pressing for ________.
A) selective pricing
B) services unbundling
C) substitute services
D) institutional pricing/services
E) promotional pricing
11) Top service companies are "customer obsessed." They have a clear sense of
their target customers and their needs. Their management looks not only at
financial performance on a monthly basis, but also at ________.
A) consumer complaints
B) service performance
C) tangible rewards
D) marketing activities
E) none of the above
12) Manufacturers of equipment all must provide product-support services. Companies
in these industries must define customer needs carefully in designing
their service support program. Customers have three specific worries when discussing
product-support services. These three worries include all of the following
EXCEPT ________.
A) downtime
B) failure frequency
C) reputation of manufacturer
D) out-of-pocket costs
E) service dependability
13) When restaurants and theme parks add summer workers, they are attempting
to manage supply and demand for their services by ________.
A) sharing services
B) increasing enrollment
C) maximizing non-peak demand
D) introducing complementary services
E) using part-time employees
14) ________ communicates to the market the company's intended value positioning
of its product or brand.
A) Place
B) Packaging
C) Price
D) Product features
E) Promotion
15) Despite its weaknesses, markup pricing remains popular for which of the following
reasons?
A) Sellers can determine demand much more easily than they can estimate costs.
B) Many people feel that cost-plus pricing is fairer to both buyers and sellers.
C) By tying the price to cost, sellers make the pricing task more nuanced.
D) When all firms in the industry use markup pricing, price competition flourishes.
E) Sellers take advantage of buyers when the latter's demand becomes acute.
16) In recent years, companies have adopted ________, trying to win loyal customers
by charging a fairly low price for a high-quality offering.
A) high-low pricing
B) value pricing
C) everyday low pricing
D) EDLP
E) none of the above
17) In ________ pricing, the company decides how to price its products to different
customers in different locations and countries.
A) offset
B) regional
C) specialty
D) geographical
E) none of the above
18) In exchange for the distribution of your products overseas, your firm has accepted
to receive a shipment of imported products in trade. This is an example
of what type of countertrade?
A) Compensation deal
B) Offset
C) Barter
D) Buyback agreement
E) None of the above
19) Transportation companies, independent warehouses, banks, and advertising
agencies that assist in the distribution process but neither take title to goods
nor negotiate purchases or sales are called ________.
A) merchants
B) marketers
C) facilitators
D) agents
E) none of the above
20) Generally speaking, buyers fall into four categories. Which of the following is
NOT one of these categories?
A) Habitual shoppers
B) Variety-loving shoppers
C) High-value deal seekers
D) High-involvement shoppers
E) Low-involvement shoppers
21) A(n) ________ consists of independent firms at different levels of production
and distribution integrating their programs on a contractual basis to obtain
more economies or sales impact than they could achieve alone.
A) distributor VMS
B) contractual VMS
C) vertical marketing system
D) administered VMS
E) none of the above
22) Causes of channel conflict include all of the following, EXCEPT ________.
A) dependency
B) unclear goals and rights
C) differences in perception
D) goal incompatibility
E) channel power usage
23) Intermediaries include retailers, ________, and logistical organizations.
A) Internet companies
B) competitors
C) box stores
D) wholesalers
E) none of the above
24) According to A.C. Nielsen Company, when considering whether to stock a new
product, store managers are most influenced by ________.
A) strong evidence of customer acceptance
B) attractive packaging that will catch consumers' attention
C) generous financial incentives to the trade
D) a well-designed advertising and sales promotion plan
E) none of the above
25)________ are independently owned businesses that take title to the merchandise
they handle. They are full-service and limited-service jobbers, distributors,
and mill supply houses.
A) Retailers' branches
B) Brokers
C) Specialized wholesalers
D) Merchant wholesalers
E) Agents
A) Durable goods
B) Nondurable goods
C) Consumption systems
D) Services
E) Potential products
2) Most products can be offered with varying ________ that supplement its basic
function.
A) conformance qualities
B) reliability
C) features
D) forms
E) none of the above
3) A ________ is the set of all products and items a particular seller offers for
sale.
A) family of products
B) product class
C) product system
D) product mix
E) product line
4) The ________ of the product mix refers to the total number of items in the mix.
A) width
B) length
C) height
D) depth
E) consistency
5) In offering a product line, companies normally develop a ________ and modules
that can be added to meet different customer requirements.
A) product
B) basic platform
C) convenience item
D) "best selling" item
E) staple item
6) The ________ of a product mix refers to how many variants are offered of each
product in the line.
A) height
B) depth
C) consistency
D) length
E) width
7) Price-setting logic must be modified when the product is part of a product mix.
In that case, the firm searches for a set of prices that ________ profits on the
total mix.
A) have no effect on total
B) maximize
C) are ineffective on total
D) minimize
E) capitalize upon
8) Some services require that the client be present to conduct the service. An
example of such a service is a ________.
A) car repair
B) fast-food meal
C) medical operation
D) vending machine
E) tax service
9) Services high in ________ qualities are those services that have characteristics
the buyer normally finds hard to evaluate even after consumption.
A) search
B) equipment
C) personal attention
D) experience
E) credence
10)There are shifts that favor the customer in the client relationship. Customers
are now becoming more sophisticated about buying product-support services
and are pressing for ________.
A) selective pricing
B) services unbundling
C) substitute services
D) institutional pricing/services
E) promotional pricing
11) Top service companies are "customer obsessed." They have a clear sense of
their target customers and their needs. Their management looks not only at
financial performance on a monthly basis, but also at ________.
A) consumer complaints
B) service performance
C) tangible rewards
D) marketing activities
E) none of the above
12) Manufacturers of equipment all must provide product-support services. Companies
in these industries must define customer needs carefully in designing
their service support program. Customers have three specific worries when discussing
product-support services. These three worries include all of the following
EXCEPT ________.
A) downtime
B) failure frequency
C) reputation of manufacturer
D) out-of-pocket costs
E) service dependability
13) When restaurants and theme parks add summer workers, they are attempting
to manage supply and demand for their services by ________.
A) sharing services
B) increasing enrollment
C) maximizing non-peak demand
D) introducing complementary services
E) using part-time employees
14) ________ communicates to the market the company's intended value positioning
of its product or brand.
A) Place
B) Packaging
C) Price
D) Product features
E) Promotion
15) Despite its weaknesses, markup pricing remains popular for which of the following
reasons?
A) Sellers can determine demand much more easily than they can estimate costs.
B) Many people feel that cost-plus pricing is fairer to both buyers and sellers.
C) By tying the price to cost, sellers make the pricing task more nuanced.
D) When all firms in the industry use markup pricing, price competition flourishes.
E) Sellers take advantage of buyers when the latter's demand becomes acute.
16) In recent years, companies have adopted ________, trying to win loyal customers
by charging a fairly low price for a high-quality offering.
A) high-low pricing
B) value pricing
C) everyday low pricing
D) EDLP
E) none of the above
17) In ________ pricing, the company decides how to price its products to different
customers in different locations and countries.
A) offset
B) regional
C) specialty
D) geographical
E) none of the above
18) In exchange for the distribution of your products overseas, your firm has accepted
to receive a shipment of imported products in trade. This is an example
of what type of countertrade?
A) Compensation deal
B) Offset
C) Barter
D) Buyback agreement
E) None of the above
19) Transportation companies, independent warehouses, banks, and advertising
agencies that assist in the distribution process but neither take title to goods
nor negotiate purchases or sales are called ________.
A) merchants
B) marketers
C) facilitators
D) agents
E) none of the above
20) Generally speaking, buyers fall into four categories. Which of the following is
NOT one of these categories?
A) Habitual shoppers
B) Variety-loving shoppers
C) High-value deal seekers
D) High-involvement shoppers
E) Low-involvement shoppers
21) A(n) ________ consists of independent firms at different levels of production
and distribution integrating their programs on a contractual basis to obtain
more economies or sales impact than they could achieve alone.
A) distributor VMS
B) contractual VMS
C) vertical marketing system
D) administered VMS
E) none of the above
22) Causes of channel conflict include all of the following, EXCEPT ________.
A) dependency
B) unclear goals and rights
C) differences in perception
D) goal incompatibility
E) channel power usage
23) Intermediaries include retailers, ________, and logistical organizations.
A) Internet companies
B) competitors
C) box stores
D) wholesalers
E) none of the above
24) According to A.C. Nielsen Company, when considering whether to stock a new
product, store managers are most influenced by ________.
A) strong evidence of customer acceptance
B) attractive packaging that will catch consumers' attention
C) generous financial incentives to the trade
D) a well-designed advertising and sales promotion plan
E) none of the above
25)________ are independently owned businesses that take title to the merchandise
they handle. They are full-service and limited-service jobbers, distributors,
and mill supply houses.
A) Retailers' branches
B) Brokers
C) Specialized wholesalers
D) Merchant wholesalers
E) Agents
