Chapter 9
Interests, hobbies, values and beliefs, religion, attitudes, and leisure activities all fall under which category of factors used to segment a market?
a. behavioral
b. demographics
c. psychographics/lifestyle
d. needs and wants
c. psychographics/lifestyle
Which of the following is NOT one of the three important roles for marketers in the product development process?
a. gather information
b. design products
c. design strategies
d. conduct market tests
b. design products
Tangible objects—such as cars, furniture, and electronic equipment—are called ____________________.
a. services
b. products
c. endorsements
d. promotional strategies
b. products
In a particular city, many independent restaurants serve various types of cuisines, but most of them get their ingredients from the local restaurant supply store. This circumstance best represents which characteristic of business markets?
a. derived demand
b. purchase volume
c. similar purchases
d. number of businesses
c. similar purchases
The clearly identified segment of a market to which the company wants to appeal is called the ____________________.
a. marketing strategy
b. demographic segmentation
c. target market
d. specialty market
c. target market
With purchase, a firm that sells home gyms offers an option for a visit from a fitness expert to set up the gym and demonstrate how to use it. The fitness expert option best represents the ____________________ level of product design.
a. basic
b. enhanced
c. extended
d. metaphysical
c. extended
The most important difference between goods and services is that services are ____________________.
a. intangible
b. heterogeneous
c. inseparable
d. perishable
a. intangible
The most difficult purchasing situation occurs when ____________________.
a. changes and improvements are needed to new orders of previously purchased products for resale
b. the same products and services are purchased over and over
c. a business buys a product or service for the first time
d. an inventoried item has reached the reorder point
c. a business buys a product or service for the first time
A general promise or assurance of quality is called a(n) ____________________.
a. warranty
b. brand
c. associated service
d. guarantee
d. guarantee
Which of the following is an example of a product assortment?
a. several varieties of toothpaste with variations for extra whitening, cavity prevention, and sensitive teeth
b. several kinds of garden tools, fertilizer, seeds, and sprinkler systems
c. laundry soap packaged in small, large, and mega-sized boxes
d. a model of car that is available in numerous colors with various features
b. several kinds of garden tools, fertilizer, seeds, and sprinkler systems
Which of the following is NOT an equipment-based service?
a. automated car wash
b. vending machine
c. haircut
d. dry cleaner
c. haircut
With just-in-time (JIT) supply systems, inventory levels, ____________________.
a. are kept at a maximum
b. are resupplied as needed
c. are resupplied in large quantities
d. need not be closely monitored
b. are resupplied as needed
The stage of the product life cycle where there is little profit in the market and only the most loyal customers continue to buy is called ____________________.
a. decline
b. maturity
c. growth
d. introduction
a. decline
The name, symbol, word, or design that identifies a product, service, or company is its ____________________.
a. trademark
b. brand
c. product line
d. product assortment
b. brand
A prominent local musician appears in a radio commercial for a music shop, stating that it is the only place where she will buy instruments. What is this form of promotion called?
a. word-of-mouth
b. endorsement
c. personal selling
d. distribution
b. endorsement
Tariffs or duties imposed on products fall into which category of international business factors?
a. supplier qualifications
b. pricing considerations
c. reciprocal trading
d. transportation
b. pricing considerations
In this stage of the product life cycle, many companies offer a service that consumers view as quite similar. Because of the intense competition, the businesses emphasize promotion and often give customers price discounts.
a. decline
b. maturity
c. growth
d. introduction
b. maturity
A designer considers how the product will be displayed in a store and designs the packaging to accommodate the space it is likely to fill in a display. Which element of packaging does this describe?
a. ease of use
b. safety
c. environment
d. handling
d. handling
This type of promotion uses well-trained sales staff to interact with customers to reduce uncertainty, give reassurance, and promote the business's reputation.
a. bundling
b. word-of-mouth
c. endorsements
d. personal selling
d. personal selling
An objective rating system that buyers use to compare potential suppliers on important purchasing criteria is called ____________________.
a. a request for proposal
b. bidding
c. vendor analysis
d. total quality management
c. vendor analysis