Products
You have visited every bridal shop in town to find the best wedding gown and tuxedo. You consider this purchase to be very important. What type of product is this?
Specialty Good
What country is biggest by area?
Russia
______ is a series of stages in a product's commercial life.
Product Life cycle
A ________ groups several products together to be sold as a single unit, rather than individually.
Bundling
Who is on the US 20 dollar bill?
Andrew Jackson
Which type of consumer good is a little more expensive and consumers usually shop around for alternatives?
Shopping Goods
What is the first step in the product development process?
Generation of product ideas
What is the chemical formula for table salt?
NaCl
What is the hottest planet in our solar system?
Venus
3M offers a variety of items including Post-it Notes, optical system, adhesive products, and a wide variety of tape products. These are referred to as 3M's _______.
product mix
Jimmy Johnny owns a small commercial cleaning business. He purchases a carton of paper towels, a box of trash bags, and a gallon container of toilet bowl cleaner from a janitorial supply vendor. How would these products be characterized?
Expense Items
In which stage of the new development process does a company begin full-scale production of a new product and establish distribution channels and promotion plans?
Commercialization
During which stage of the product life cycle does sales growth peak and then ultimately begin to slow?
Maturity
When a company uses penetration pricing, it tends to set an initial price that is ________.
low enough to establish the product in the market
Which president was the oldest at the start of their presidential term?
Donald Trump
L'Meese was looking at the candy bars while waiting in line at the gas station; they all looked good, so L'Meese bought one to eat immediately, and one to eat later in the day. Which type of product did L'Meese purchase?
Convenience good
IKEA shows up in Deadpool,and Audi is used in The Avengers and Captain America.In print, HP computers appear in the photo layouts in the IKEA catalog. These are examples of _______.
Product Placement
As a result of loss of profits and market share, Kodak quit marketing traditional film cameras in the United States in 2004. In 2012, the company announced it would stop making its newer line of digital cameras, too, because of low profits. In the stages of the product life cycle, Kodak's digital camera is in the stage of _______.
Decline
What is the common name of the object that is formerly known as a besom, has a common association with Halloween, and is produced and sold by brands such as Treelen, Libman, and SWOPT?
A broom
Which of the following represents the group of products that are closely related or are sold to the same customer group?
Product Line
Who was the shortest NBA player of all time?
Muggsy Bogues
When the company figures out if the product is a fit for the market and will positively effect the company, this is before development.
Screening
This stage is where there is increasing demand and customers become more aware of their benefits.
Growth
Granny's Knitting Shop just purchased a building that allows for a larger sales floor, and the ability to hold in-store classes. Which type of purchase did Granny's Knitting Shop make?
Capital
When conducting a breakeven analysis, rent and insurance are ________ costs.
Fixed