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Name:
Class:
Date:
chapter 12
Indicate whether the statement is true or false.
1. In the case of shopping products, a store’s name and reputation have considerable influence on people’s
buying behavior.
a.
True
b.
False
2. Career counseling session is an example of a pure service on the goods-services continuum.
a.
True
b.
False
3. Staples are convenience goods and services that consumers constantly replenish to maintain a ready
inventory.
a.
True
b.
False
4. An automated teller machine (ATM) is an example of a convenience service.
a.
True
b.
False
5. A company may limit its growth potential when it concentrates on a single product.
a.
True
b.
False
6. Product line extension refers to the development of items that would expand the width of the product mix a
company has to offer.
a.
True
b.
False
7. One way to distinguish goods from services is that services are inseparable from their service providers.
a.
True
b.
False
8. A product is a bundle of physical, service, and symbolic attributes designed to satisfy a customer’s wants and
needs.
a.
True
b.
False
9. Product strategies are essentially the same for consumer and business markets.
a.
True
b.
False
10. The decision about whether to delete products from the product line is usually faced during the late growth
and early maturity phases of the product lifecycle.
a.
True
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Class:
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chapter 12
b.
False
11. Sales of a product category continue to grow during the early part of the maturity stage but—eventually
reach a plateau as the backlog of potential customers dwindles.
a.
True
b.
False
12. Benchmarking is the method of measuring quality by comparing performance against industry leaders.
a.
True
b.
False
13. Procter & Gamble manufactures laundry detergents under the brand names of Tide, Cheer, and Gain. These
brands represent the width of the product mix that Procter & Gamble offers.
a.
True
b.
False
14. Internet security software that requires periodic updates and annual product upgrades is considered a pure
service on the goods-services continuum.
a.
True
b.
False
15. Hershey’s introduction of a sugar-free version of its candy bar is an example of line extension.
a.
True
b.
False
16. Providers can maintain inventories of their services.
a.
True
b.
False
17. Restaurant chains often use the same room decor and dining menu at all their locations in an attempt to
standardize the services they offer.
a.
True
b.
False
18. The width of a product mix refers to the number of product lines the firm offers.
a.
True
b.
False
19. Fad cycles are examples of traditional product lifecycles.
a.
True
b.
False
20. The seller’s image is very important for those marketers who sell convenience products.
a.
True
b.
False
Name:
Class:
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chapter 12
21. A product line is a series of related products offered by one company.
a.
True
b.
False
22. Slotting allowances refer to money paid by producers to retailers to guarantee display of their merchandise.
a.
True
b.
False
23. Advertising is an important component in the marketing mix for accessory equipments.
a.
True
b.
False
24. The trend of backshoring, firms returning their offshore work to the U.S., is growing.
a.
True
b.
False
25. In contrast to the purchase of shopping products, consumers buy convenience products only after comparing
competing offerings on such characteristics as price, quality, style, and color.
a.
True
b.
False
26. A company limits its growth potential when it concentrates on a single product, even though the company
may have started that way.
a.
True
b.
False
27. The motivations for marketing complete product lines include the desire to grow, enhancing the company’s
position in the market, optimal use of company resources, and exploiting the product lifecycle.
a.
True
b.
False
28. Purchasers of component parts and materials need regular, continuous supplies of uniform-quality products.
a.
True
b.
False
29. During the growth stage of the product lifecycle, available supplies exceed industry demand for the first
time.
a.
True
b.
False
30. In the maturity stage of a product lifecycle, differences between competing products diminish as competitors
discover the product and promotional characteristics most desired by customers.
a.
True
b.
False
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Class:
Date:
chapter 12
31. A service encounter is a point at which a consumer interacts with a service provider.
a.
True
b.
False
32. Supplies are also called MRO items.
a.
True
b.
False
33. A college education is an example of a pure product on the goods-services continuum.
a.
True
b.
False
34. Homeshoring enables firms to save on office space, furnishings, and supplies.
a.
True
b.
False
35. In the maturity stage, heavy promotional outlays emphasize any differences still separating competing
products, and brand competition intensifies.
a.
True
b.
False
36. The length of a product mix refers to the number of different products a firm sells.
a.
True
b.
False
37. The purchaser of a shopping product lacks complete information prior to the buying trip and gathers
information during the buying process.
a.
True
b.
False
38. During the introductory stage of the product lifecycle, the public becomes acquainted with the item’s merits
and begins to accept it.
a.
True
b.
False
39. The assortment of product lines and individual product offerings that a company sells is known as its
product cluster.
a.
True
b.
False
40. During the maturity stage of the product lifecycle, the industry sales curve for a product reaches a minimum
point as competitors exhaust the supply of potential customers.
a.
True
b.
False
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chapter 12
41. Managers are responsible for communicating the goals of total quality management to all staff members.
a.
True
b.
False
42. Internal analysis in the benchmarking process establishes a baseline for comparison.
a.
True
b.
False
43. The depth of product mix refers to the variations in each product the firm markets in its mix.
a.
True
b.
False
44. Buyers rarely play any role in the creation and distribution of services.
a.
True
b.
False
45. SUVs produced by different automobile companies constitute a single product line.
a.
True
b.
False
46. Firms that practice homeshoring experience the benefit of reduction in the use of energy and other natural
resources thereby decreasing their impact on the environment.
a.
True
b.
False
47. If advertisements are used for installations, they emphasize the company's reputation and direct potential
buyers to contact local sales representatives.
a.
True
b.
False
48. According to retailers, the purpose of slotting allowances is to cover their losses if products don’t sell.
a.
True
b.
False
49. The Malcolm Baldrige National Quality Award is the highest national recognition for quality a U.S.
company can receive.
a.
True
b.
False
50. When a manufacturer of vinegar, ordinarily used as a food ingredient, promotes its use as a metal cleaner,
the manufacturer is attempting to extend the product’s lifecycle by changing its package.
a.
True
b.
False
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chapter 12
51. The right blend of product lines and individual products allows a firm to maximize sales opportunities
within the limitations of its resources.
a.
True
b.
False
52. Although the United States runs a continuing trade deficit in services, it has maintained a trade surplus in
goods since 1992.
a.
True
b.
False
53. Unsought products are marketed to consumers who may not yet recognize any need for them.
a.
True
b.
False
54. Shopping products typically cost less than convenience purchases.
a.
True
b.
False
55. Services are intangible products.
a.
True
b.
False
56. The product lifecycle concept applies to individual brands of a product.
a.
True
b.
False
57. Price is generally the deciding factor in purchasing raw materials since the costs vary widely across markets.
a.
True
b.
False
58. Installations’ marketers typically focus their promotional efforts on employing highly trained sales
representatives, often with technical backgrounds.
a.
True
b.
False
59. As consumers are willing to exert considerable effort to obtain specialty products, producers can promote
them through relatively few retail locations.
a.
True
b.
False
60. A dinner at an exclusive restaurant is a pure good.
a.
True
b.
False
61. Convenience of location is unimportant to a consumer who wants to buy a specialty product.
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a.
True
b.
False
62. Marketers typically measure product mixes according to width, length, and depth.
a.
True
b.
False
63. Marketing accessory equipments requires continuous representation and dealing with the widespread
geographic dispersion of purchasers.
a.
True
b.
False
64. Milk is an example of a convenience product.
a.
True
b.
False
65. As consumers devote little effort to convenience product purchase decisions, marketers must strive to make
these exchanges as simple as possible.
a.
True
b.
False
66. Service quality refers to the expected and perceived quality of a service offering.
a.
True
b.
False
67. Most fads experience short-lived popularity and then quickly fade, although some maintain residual markets
among certain segments.
a.
True
b.
False
68. A chocolate bar bought while standing in the checkout line is an example of staples.
a.
True
b.
False
69. Tangible goods and intangible services both intend to satisfy consumer wants and needs, but the marketing
efforts supporting them may be vastly different.
a.
True
b.
False
70. Internal analysis involves gathering information about the benchmark partner to find out why the partner is
perceived as the industry’s best.
a.
True
b.
False
71. A dentist provides pure service.
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chapter 12
a.
True
b.
False
72. The U.S. service sector makes up only one-tenth of the nation’s economy.
a.
True
b.
False
73. Marketers classify goods and services by considering the purchase patterns of the majority of buyers.
a.
True
b.
False
74. Homeshoring is the practice of hiring workers to do jobs from home.
a.
True
b.
False
75. Marketers think in terms of a product as a compilation of package design and labeling, brand name, price,
availability, warranty, reputation, image, and customer service activities that add value for the customer.
a.
True
b.
False
76. The classification system for business products emphasizes customer buying behavior rather than product
uses.
a.
True
b.
False
77. The products whose lifecycles can be extended or stretched indefinitely are referred to as orphan brands.
a.
True
b.
False
78. Hiring employees to work from home is known as offshoring.
a.
True
b.
False
79. Changes in product packaging such as single-serve containers of Kraft Macaroni and Cheese have no
influence on a product's lifecycle.
a.
True
b.
False
80. Installations are major capital investments in the B2B markets and they are often designed specifically for
the purchasers.
a.
True
b.
False
81. The marketing mix is the blending of the four strategy elements—product, price, distribution, and
promotion—to satisfy the target market.
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chapter 12
a.
True
b.
False
82. Extensive planning time is required for the purchase of supplies.
a.
True
b.
False
83. Product lifecycles can stretch indefinitely as a result of decisions designed to increase the frequency of use
by current customers; increase the number of users for the product or change package sizes, labels, or product
quality.
a.
True
b.
False
Indicate the answer choice that best completes the statement or answers the question.
84. Financial Services Inc. had call centers in Malaysia where employees worked in shifts to cater to American
customers at all times. However, after receiving persistent complaints about unsatisfactory service quality and
increasing inefficiency, the organization decided to shift the call centers to the United States again. This is an
example of:
a.
outsourcing.
b.
onshoring.
c.
backshoring.
d.
homeshoring.
85. Which of the following examples illustrates an orphan brand?
a.
The line of fur blankets dropped in sales by 65% by the end of the first quarter.
b.
The cherry wood dresser line was successful only in the Northeast.
c.
Though company executives thought the line of picture frames would be a hit with customers, it did
not sell.
d.
The shoe line did not do well, but another company decided to purchase the rights to the design and
manufacture it.
e.
The line of handbags generated a 32% profit within the first quarter but the company ran out of raw
materials to make the bags.
86. Marketers acknowledge a broader conception of product; they realize that people buy want satisfaction.
Using this broad concept, a television set is a(n):
a.
obsolete technology in comparison with the Internet.
b.
means of providing entertainment.
c.
lucrative item for appliance stores.
d.
machine used to receive broadcast signals.
87. A bundle of physical, service, and symbolic attributes designed to satisfy a customer's wants and needs is
referred to as a(n) _____.
a.
byproduct
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b.
construct
c.
product
d.
cluster
88. The Nestle Company is celebrating 150 years of success and has evolved from a single product company -
sweet condensed milk to over 2000 brands across such categories of baby food, bottled water, pet food, drinks,
ice cream, nutritional foods, and chocolate. These various product categories reflect the product ______ of
Nestle.
a.
width
b.
depth
c.
complexity
d.
extension
89. In the context of business products, office stationery will fall under the category of:
a.
installations.
b.
shopping products.
c.
supplies.
d.
accessory equipments.
90. Which of the following statements is true regarding the maturity stage of the product lifecycle?
a.
It is the second stage of the product lifecycle.
b.
Since the product is unknown to the public during this stage, the promotional campaigns stress
information about its features.
c.
During this stage differences between competing products diminish.
d.
It is characterized by rapid growth in the volume of sales.
91. Procter and Gamble offers several varieties of Tide liquid detergent for high efficiency washers. It recently
added a "Sport" formulation plus Febreeze targeted to active consumers who have noticed that sports apparel
such as dri-fit shirts are difficult to clean. The "Sport" formulation represents a(n):
a.
line extension
b.
product fabrication
c.
novelty product
d.
evolved product
92. Sam works for a small IT management company. He is responsible for replenishing the supply of office
stationery. Every week he makes an inventory of the required items and gets them. Using the business products
classification system, which of the following is most likely to be true of Sam’s purchases?
a.
Sam’s purchases are influenced solely by the quality of the products.
b.
Sam plans extensively for his purchases.
c.
Sam’s purchases tend to be infrequent.
d.
Sam’s purchases are highly influenced by the prices of the products.
93. Which of the following consists of intangible products that firms buy to facilitate their production and
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operating processes?
a.
Installations
b.
Accessories
c.
Business services
d.
Operating supplies
94. During which of the following stages in the product lifecycle, do industry sales of the product level out?
a.
Introductory stage
b.
Growth stage
c.
Maturity stage
d.
Decline stage
95. You have been chosen to serve as a member of the committee that will select finalists for the Malcolm
Baldrige National Quality Award established by the U.S. Congress.
Required:
Which of the following companies would you select as one of the finalists for the award?
a.
a company with high market share
b.
a company with low employee turnover rates
c.
a company that ranks high on customer satisfaction
d.
a company that has received the ISO 9001:2008 certification
e.
a company that is typically referenced as a benchmark partner
96. Technology is changing consumer behavior in a variety of ways such as the adoption of streaming services
such as Netflix. Netflix faces increasing competition from Amazon and Hulu Plus as well as satellite and cable
companies who offer video on demand. Netflix has experienced rapid adoption by consumers but the entrance
of competition is creating challenges for Netflix to remain dominant. What stage of the product life cycle best
describes Netflix?
a.
growth
b.
introduction
c.
maturity
d.
decline
97. Rangers, a firm that provides a towing service, boasts of a very consistent performance track record and
promises a quick and good quality service “anytime, anywhere.” According to this information, Rangers is
focusing on which of the following variables of service quality?
a.
Reliability
b.
Sympathy
c.
Empathy
d.
Substitutability
98. Fresh, a company that manufactures personal care products such as soaps and shampoos, decides to produce
and market dishwashing liquid and cleaners. This decision of the company represents:
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a.
an increase in product mix depth.
b.
an increase in product mix width.
c.
an increase in the product mix consistency.
d.
an increase in the product lifecycle.
99. When Apple launched the iPod it quickly became the most popular digital music player on the market and
dominated sales. Now, sales of the iPod are lower as more consumers adopt smart phone devices which enable
them to store and listen to music. What stage of the product life characterizes the iPod?
a.
decline
b.
maturity
c.
introduction
d.
growth
100. Asmeret works as a hotel manager for a popular family resort and casino in Atlantic City, New Jersey.
During the summer, hotel managers aim for an occupancy rate of at least 85% to ensure that overhead costs are
covered. The resort is known for its quality services; guests generally return an average of three times during
the summer and use their rewards and loyalty cards during their stays. On this particular day, Asmeret is quite
stressed because the occupancy rate is only 65%. If the hotel fails to sell at least an additional 20% of the
available rooms, she might be in some trouble.
Required:
Which aspect of a service is best illustrated in the scenario?
a.
Services are perishable.
b.
Service standards show wide variation.
c.
Services are inseparable from service providers.
d.
Companies cannot easily standardize the services they provide.
e.
Buyers play an important role in the creation and distribution of services.
101. Bubbles, a major player in the beverage industry, is currently negotiating the purchase of a purification
plant and a bottling unit. This is an important investment for Bubbles and the products have been designed
specifically for them. Which of the following types of products is being purchased by Bubbles?
a.
Accessory equipments
b.
Installations
c.
Component parts and materials
d.
Supplies
102. When Sara developed a headache due to stress just before an important sales presentation, she quickly
bought a pain reliever from a nearby pharmacy. This is an example of buying a(n)
a.
shopping product
b.
emergency good
c.
staple
d.
impulse good
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103. Which of the following products would generally be considered as a staple?
a.
Lawn mower
b.
Laptop
c.
Dishwashing liquid
d.
Luxury perfume
104. For a past few months H&S Products has been involved in intensive price competition with its competitors
for one of its products. A shift in consumer preferences is resulting in a decrease in sales. Profits are low and
market researchers are concerned that losses will soon occur due to a decrease in the size of the market for the
product. This product appears to have reached the _____ stage of the product lifecycle.
a.
introductory
b.
maturity
c.
decline
d.
growth
105. Motels and luxury hotels cater to the same want satisfaction-a place to stay. However, their respective
guests have considerably different expectations of service. Which of the following characteristics of services
best represents these different expectations in service?
a.
Services are intangible.
b.
Companies cannot easily standardize services.
c.
Service standards show wide variations.
d.
Services are perishable.
106. Using the consumer products classification system, which of the following is true of the marketing mix
factors for a specialty product?
a.
It generally has low price.
b.
The seller’s image is unimportant.
c.
Its number of sales outlets tends to be very high.
d.
It relies on personal selling by producers.
107. Using the consumer products classification system, which of the following is true of the marketing mix
factors for a convenience product?
a.
It is generally high priced.
b.
The seller’s image is very important.
c.
It has a long distribution channel.
d.
Its number of sales outlets tends to be very few.
108. Mommy & Little Tots manufactures products for mothers-to-be as well as newborn infants. Their products
include maternity wear, diapers, wipes, burp clothes, and swaddling blankets. These products constitute the
“product _____” at Mommy & Little Tots.
a.
pack
b.
congregation
c.
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d.
line
109. Doug is a business analyst for a leading manufacturer of sports shoes. A careful analysis of market
conditions reveals that there is actually an excess supply in the market for sprinting shoes. Doug infers that the
sprinting shoes are in the _____ stage of the product lifecycle.
a.
introductory
b.
growth
c.
maturity
d.
disseminative
110. Using the consumer products classification system, which of the following is most likely to be true of the
consumer factors for specialty products?
a.
Consumers tend to purchase specialty products frequently.
b.
Consumers always compare price and quality between competing products.
c.
Consumers tend to regard convenience of location as very important.
d.
Consumers tend to plan extensively before buying them.
111. Tina is a customer service representative for an Internet service provider. While dealing with elderly
customers, Tina takes extra time and effort in explaining to them how to access the Internet, check emails, and
browse the Web. She understands their point of view, and realizes that they may need more explanation than the
tech-savvy, younger generation. By doing so, which of the following variables of service quality is being
demonstrated by Tina?
a.
Associability
b.
Tangibles
c.
Empathy
d.
Substitutability
112. Prescott purchased a 5-series BMW sedan and chose the vehicle because he loves the sporty ride and great
handling. He usually takes the Interstate to work and lately has become disillusioned with the car and is bored.
Which of the following might you recommend to Prescott to enhance his "want satisfaction" related to the
vehicle purchase.
a.
Change his driving route and get off the Interstate
b.
Trade-in the BMW 5-series sedan and purchase a sports car
c.
Drive faster than the speed limit to heighten the thrill of driving
d.
Read articles or reviews about the BMW 5-series vehicle
113. Which of the following can be classified as an accessory equipment?
a.
Natural gas pipelines
b.
Bottling units
c.
Desktop computers
d.
Printer cartridges
114. Which of the following terms refers to the specialty products of the business market?
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a.
Installations
b.
Accessory equipments
c.
Shopping products
d.
Component parts and materials
115. Consumer goods such as soap, milk, and deodorants are generally classified as _____ products.
a.
convenience
b.
utilitarian
c.
shopping
d.
specialty
116. Which of the following terms refers to the development of individual offerings that appeal to different
market segments while remaining closely related to the existing product line?
a.
Line penetration
b.
Line innovation
c.
Line extension
d.
Line cannibalization
117. Zara Inc., a well-known cosmetics manufacturer, introduced its anti-wrinkle cream in the Asian market
after its sales in the European market leveled out due to stiff competition from rival products. This is an attempt
to extend product lifecycle by:
a.
increasing the frequency of use.
b.
increasing the number of users.
c.
finding new uses.
d.
changing product quality.
118. Sound systems, batteries, and tires that are included in the manufacturing of a car are examples of:
a.
installations.
b.
accessory equipment.
c.
component parts and materials.
d.
supplies.
119. A yogurt brand is trying to extend the product's lifecycle by promoting its use as a replacement for mayonnaise. The
primary goal of this strategy is to:
a.
Increase frequency of use
b.
Increase the number of users
c.
Change product design
d.
Find new uses
e.
Compete with mayonnaise
120. Ryan, a successful entrepreneur, is planning to get into the petroleum business. He has bought two jack-up
rigs running into millions of dollars to start the business. These rigs are examples of:
a.
installations.
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b.
accessory equipments.
c.
supplies.
d.
component parts.
121. You just finished meeting with your boss, who is very upset about the most recent customer survey results
for the firm. A majority of the respondents complained about the limited number of product lines your firm
offers.
Required:
Which of the following recommendations should you make to your boss?
a.
The firm needs to shorten its product life cycle.
b.
The firm needs to lengthen its product life cycle.
c.
The firm needs to expand the depth of its product mix.
d.
The firm needs to expand the width of its product mix.
e.
The firm needs to expand the length of its product mix.
122. Jessica is planning a vacation and is interested in taking a cruise. She's starting to research cruise lines and
prices and had hoped to take a cruise with her husband over the Christmas holidays. She's learning that the
prices for a cruise are much higher for cruises that depart between December 22nd and January 3rd. However,
she notices that prices are somewhat lower from January 4th through March 1st. Which aspect or
characteristics of services does this difference in price reflect?
a.
services are perishable
b.
services are intangible
c.
services are inseparable from the service providers
d.
companies cannot easily standardize services
123. A series of related products offered by one company is called a product _____.
a.
cluster
b.
subgroup
c.
line
d.
pack
124. External analysis, conducted during the process of benchmarking, involves:
a.
establishing a baseline for comparison with industry leaders.
b.
identifying business processes that need improvement.
c.
identifying the strengths and weaknesses of the firm’s internal processes.
d.
gathering information about competing firms perceived as leading performers.
125. The cost of installations for business services is generally high because they tend to be part of a company’s
capital investment strategy.
Required:
Which of the following statements is true of installations?
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a.
Installations require a very long distribution channel.
b.
Installations are the least significant business products.
c.
The quality of the product is less of an issue for company executives.
d.
Companies promote the sale of installations via extensive advertising campaigns.
e.
Company executives spend a lot of time planning before they purchase installations.
126. Products marketed to consumers who may not yet recognize a need for them are called _____ products.
a.
unsought
b.
impulse
c.
convenience
d.
specialty
127. Finished business products of one producer that become part of the final products of another producer are
called _____.
a.
installations
b.
accessory equipments
c.
supplies
d.
component parts and materials
128. In which of the following stages of the product lifecycle, do market supplies exceed the demand, as a result
of which a firm can increase its sales only at the expense of its competitors?
a.
Introductory stage
b.
Growth stage
c.
Maturity stage
d.
Decline stage
129. During which stage in a product lifecycle does the public become acquainted with the item’s merits and
begins to accept it?
a.
Introductory stage
b.
Growth stage
c.
Maturity stage
d.
Decline stage
130. Specialty products are:
a.
products marketed to consumers who may not yet recognize a need for them.
b.
products with unique characteristics that cause buyers to prize those brands.
c.
products bought in response to unexpected and urgent needs.
d.
products purchased on the spur of the moment.
131. Variations in each product a firm markets in its mix are referred to as the _____ of its product mix.
a.
width
b.
length
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c.
depth
d.
volume
132. The assortment of product lines and individual product offerings a company sells is called its product
_____.
a.
mix
b.
cluster
c.
pack
d.
bunch
133. In the context of the business products classification system, which of the following group of products is
typically promoted through advertisements rather than through personal selling?
a.
Installations
b.
Accessory equipments
c.
Component parts and materials
d.
Raw materials
134. Brandie is a financial services representative and is licensed to sell life, health and investment products.
She recently met with a couple in their 50's who have been taking care of their 80-year-old parents who now
need some additional attention and care. Brandie begins asking the couple about their financial planning and
how well they've saved for retirement as well as the possibility that one or both of them might need nursing
assistance or long-term care in a senior facility. What type of product would best describe a long-term care
policy?
a.
unsought product
b.
specialty product
c.
convenience product
d.
shopping product
135. Emily is an inside sales representative for TEKSystems and promises her customer accounts that she will
return phone calls or e-mails within three hours during week-day work hours (9 a.m. to 5 p.m.). She says that
sometimes it's difficult to keep this promise to her customers but believes its a key to her success and the loyalty
she creates among her customers. It's also led to referrals and helped her increase sales. What aspect of service
quality is Emily delivering?
a.
responsiveness
b.
empathy
c.
assurances
d.
tangibles
136. _____ involves measuring quality by comparing performance against industry leaders.
a.
Benchmarking
b.
Social referencing
c.
Satisficing
d.
Social loafing
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137. Johnson & Johnson manufactures more than 100 brands in nearly 50 product categories. The total number
of products they manufacture represents the _____ of its product mix.
a.
length
b.
depth
c.
consistency
d.
width
138. A popular cleaning services business employs the following tagline:
“Cleaning up life’s messes so you can take a breather!”
Required:
Which of the following service quality variables is best illustrated in the tagline presented above?
a.
empathy
b.
reliability
c.
tangibles
d.
assurance
e.
responsiveness
139. When shifts in consumer preferences bring about an absolute slump in industry sales, a product is said to be
in the _____ stage of the product lifecycle.
a.
introductory
b.
growth
c.
maturation
d.
decline
140. Which of the following comes closest to providing pure service?
a.
A retail store
b.
An automobile dealership
c.
A coffee shop
d.
A fitness gym
141. The management at Bubblez, a beverage manufacturer, is deciding on whether to buy a purification plant
and a bottling unit. Using the business products classification system, which of the following is most likely to
be true of the management’s decision?
a.
The price of the product will be the sole deciding factor in the management’s decision.
b.
The quality of the product will be a very important deciding factor in the management’s decision.
c.
The decision will involve very little planning or research.
d.
The decision will be quickly because the purchase frequency of such products is high.
142. When a firm starts to realize substantial profits from its investment in a product, the product is said to be in
the _____ stage of the product lifecycle.
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a.
decline
b.
introductory
c.
growth
d.
maturity
143. Promoting the use of oatmeal as a cholesterol reducer and antacids as a calcium supplement are most likely
to be examples of extending the lifecycle of the product by:
a.
improving product quality.
b.
changing package sizes.
c.
increasing the frequency of use.
d.
finding new uses.
144. A tech company is set to release a new watch with a built-in exercise and cholesterol monitor around the
holidays. Because the product is new to the market, consumers know very little about it. The company wants to
ensure that by the time the holiday season arrives, consumers are well-informed and ready to make major
purchases.
Required:
Which of the following steps should the company take to market its new product efficiently?
a.
limit the number of distribution channels
b.
develop a campaign that focuses on product features
c.
highlight the drawbacks of competing products on the market
d.
spend money on fine-tuning the product rather than on marketing
e.
establish a call center so consumers can phone and have their questions answered
145. Marketers aim to design an appropriate marketing mix to draw the intended target market. During a
meeting with company executives, Roy suggests that one way to engage the target market and ensure that its
members continue to be loyal customers is by allowing them to return their gadgets in exchange for workable or
new parts when customers file complaints that their products no longer work.
Required:
In thinking about how to best market new products, which of the following components of the product variable
is described above?
a.
price
b.
labels
c.
warranty
d.
packaging
e.
reputation
146. Which of the following is the first main activity involved in benchmarking?
a.
Comparing internal processes to those of industry’s performance leaders
b.
Identifying the strengths and weaknesses of a firm’s internal processes
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c.
Implementing changes for quality improvement
d.
Identifying critical market segments
147. You are contemplating starting a business in the next few months. You have expertise in both goods-based
and services-based businesses, but aren’t sure which route to take. You are, however, determined to develop
jobs for the small factory town in which you grew up.
Required:
Based on what you know about the U.S. business economy, which of the following approaches would you take?
a.
start a goods-based business because the demand is higher
b.
start a goods-based business because it is cheaper to maintain
c.
start a services-based business because demand has increased exponentially
d.
start a services-based business because such businesses are expected to account for 18 million new
jobs by 2020
e.
start a goods-based business because such businesses are expected to account for 35% of new job
opportunities in the next 10 years
148. An electronics company has seen a 35–57% increase during the fourth quarter for the last decade.
Company executives attribute this immense increase in profits to the holiday season.
Required:
Which of the following best explains the company’s fourth-quarter growth?
a.
The company employs a short distribution channel.
b.
The company has a strong relationship with customers.
c.
The company provides flexible and customized goods.
d.
The company uses few promotional strategies during the holidays.
e.
The demand for the company’s goods fluctuates over the course of the year.
149. Richard generally frequented Brewz, a coffeehouse chain, when he was in Florida. However, when his
company transferred him to China, he found that the Brewz in Shanghai does not offer the same quality service
as their coffee houses in Florida. Which of the following best explains this differential perception in service
quality?
a.
Companies cannot easily standardize services.
b.
Buyers often play important roles in the creation and distribution of services.
c.
Services are perishable and intangible.
d.
Providers cannot make inventories of their services.
150. In the context of the business products, capital items that typically cost less and last for shorter periods than
installations are called _____.
a.
shopping products
b.
accessory equipments
c.
supplies
d.
impulse products
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151. You work for a multinational corporation that manufactures a series of home goods, cosmetics, pet
supplies, foods, and beverages. As a newly appointed head of development, you want to familiarize yourself
with the company’s product lines.
Required:
Which of the following combinations of items represents a product line?
a.
mascara, lipstick, and plates
b.
pet food, shampoos, and juices
c.
eyeliner, dog biscuits, and frozen pizza
d.
frozen tacos, salsa, and shredded cheese
e.
sausage, dog bacon strips, and lemonade
152. You have been assigned the overwhelming task of managing all your firm’s products in the decline stage.
Which of the following steps are you least likely to take?
a.
develop strategies to increase how frequently the product is used
b.
develop strategies to identify a new target market and/or new customers
c.
develop an aggressive, resource-intensive marketing mix for products in the decline stage
d.
develop rebranding strategies and identify new ways to make the products more appealing
e.
develop a social media campaign that will excite current customers and induce them to buy more of
these products
153. Natural resources, farm produce and lumber constitute _____.
a.
raw materials
b.
accessory equipments
c.
component parts and materials
d.
installations
154. When Tom decided to buy a washing machine, he had very little knowledge of competing products in the
market. He did research on the Internet, talked to his friends, and compared features of different models.
Finally, he decided to buy an LG top load, semi-automatic washing machine. This is an example of buying a(n)
_____.
a.
shopping product
b.
staple
c.
convenience product
d.
specialty product
155. _____ constitute the regular expenses a firm incurs in its daily operations.
a.
Impulse products
b.
Installations
c.
Supplies
d.
Accessory equipments
156. Shopping products are:
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a.
products that consumers purchase after comparing competing offers.
b.
products with unique characteristics that cause buyers to prize those brands.
c.
products bought in response to unexpected and urgent needs.
d.
products purchased on the spur of the moment.
157. Which of the following is true of services?
a.
Services are tangible.
b.
Services are inseparable from service providers.
c.
Companies can easily standardize services.
d.
Services are nonperishable.
158. Your insurance firm depends on trained telemarketers to sell its policies. After a bad experience with a call center
overseas, the company has set aside a large space in its headquarters which all its callers will use. Your firm is now
engaged in:
a.
Offshoring
b.
Homeshoring
c.
Backshoring
d.
Tele-design
e.
Tele-management
159. Which of the following variables of service quality best represents the readiness to serve one’s customers?
a.
Tangibles
b.
Assurances
c.
Responsiveness
d.
Empathy
160. Which of the following comes closest to providing a pure good?
a.
A company that manufactures elevators
b.
A laundry
c.
A fitness gym
d.
An advertising agency
161. Derrick is the facility manager for a local school district to manage the physical plant needs of its five
elementary, junior high and high school buildings. He has a business account with Menards, Home Depot and
Loews to purchase a variety of supplies such as light bulbs, cleaning supplies, and cleaning equipment. These
items would be classified as:
a.
MRO items
b.
business services
c.
accessory equipment
d.
component parts and materials
162. Procter and Gamble markets Tide detergent in a variety of formulations as well as other laundry detergents
including Cheer, Gain and Bold. These various brands are part of Procter and Gamble's _________ in the
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detergent sector.
a.
product line
b.
product mix
c.
marketing mix
d.
product life cycle
163. The number of different products a firm sells is referred to as the _____ of its product mix.
a.
width
b.
depth
c.
length
d.
volume
164. A company manufacturing hair care products introduced a new shampoo with keratin to enhance hair
quality and reduce hair breakage. To ensure the right spot for the shampoo bottles on the supermarket shelves,
the company paid retailers a substantial amount of money. The money paid is called:
a.
push money.
b.
rebate.
c.
premium.
d.
slotting fees.
165. Kemar owns a small Web-development startup and has experienced a 23% increase in overhead costs over
the last three years. To cut costs, Kemar has scaled back the number of employees working in the office on a
daily basis and is thinking about homeshoring as a viable option to further trim expenses.
Required:
Which of the following is a potential drawback of homeshoring?
a.
increased supervision
b.
decreased service demand
c.
decreased employee productivity
d.
increased use of energy and resources
e.
increased expenses for health insurance
166. Dave is a consultant who advises manufacturers on issues related to maintenance, repair, and operations in their
factories. Dave supplies a(n):
a.
MRO product
b.
Business service
c.
Internal service
d.
Collaborative service
e.
Component service
167. According to the textbook, the U.S. service sector accounts for nearly _____ percent of the economy as the
country shifts from a goods-producing economy to a service-producing economy.
a.
80
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b.
60
c.
40
d.
90
168. Which of the following is true of the practice of homeshoring?
a.
It reduces a company’s spending on health care.
b.
It increases a company’s spending on supplies.
c.
It increases the amount of energy consumed by the company.
d.
It increases a company’s impact on the environment.
169. Sam is a sales representative with Stepan, a global chemical supplier with manufacturing operations around
the globe. Sam is based in the Midwest and Procter and Gamble is one of his accounts. Stepan is known as a
quality producer of surfactants which are utilized by companies like Procter and Gamble to make their products
work better. For example, Procter and Gamble utilizes surfactants in Tide detergent in order to get clothes
cleaner and separate the "cleaning agent" from the water. Stepan produces their surfactant as one of their
"finished products" but when added to Tide detergent, the surfactant from Stepan becomes a final product of
Procter and Gamble. Which type of business product are Stepan's surfactants?
a.
component parts and materials
b.
raw materials
c.
supplies
d.
accessory equipment
170. Justin is a sales representative for Hormel Foods and is meeting with the buyer for a regional grocery store
chain. Hormel has recently introduced a new snack product that will be merchandised in the deli or meat
section of the grocery store. Justin has a marketing allowance that can be utilized to promote the new product
and gain acceptance or space in the store. A term for this type of fee is:
a.
slotting allowance
b.
marketing expense
c.
retailer fee
d.
new product fee
171. Procter & Gamble has over 50 leadership brands and produces many products that are sold worldwide.
Which of the following is most likely to be true in the event of the company adding a new and different product
in its household care category?
a.
It would decrease P&G’s product mix width.
b.
It would increase P&G’s product mix consistency.
c.
It would increase P&G’s product mix length.
d.
It would decrease P&G’s product mix depth.
172. Christopher who is a hair stylist owns Curlz, the best salon in Los Angeles. The clients swear by
Christopher, and brides and bridesmaids flock to him for all weddings in LA. Christopher’s name has become
synonymous with the service at Curlz. Which of the following characteristics of services best explains this
association?
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a.
Companies cannot easily standardize services.
b.
Service standards show wide variations.
c.
Services are inseparable from the service providers.
d.
Services are perishable and intangible.
173. Which of the following variables of service quality best represents the service provider’s understanding of
the customer’s needs?
a.
Tangibles
b.
Assurances
c.
Empathy
d.
Reliability
174. Which of the following products is most likely to have a long distribution channel?
a.
Oil rig
b.
Jet engine
c.
Farm produce
d.
Office stationery
175. Supermarkets usually display items such as candies, gums, and magazines near the checkout counter
because:
a.
they tend to be purchased on the spur of the moment.
b.
they can be replenished easily on short notice.
c.
of the prestige associated with their ownership.
d.
they are closely evaluated prior to purchase.
176. Kiddie Car Inc. offers transportation between home, school, and activities to children whose parents are unavailable
to drive them. The company charges much less on weekends than during the week. This reflects the ______ of Kiddie
Car's services.
a.
Intangibility
b.
Perishability
c.
Inseparability
d.
Standardization
e.
Positioning
177. Casanova Supplies specializes in pharmaceuticals, home and office cleaning supplies, bath essentials, and
pet care. The pharmaceutical line, which has five products, is the company’s newest line. The home and office
line has 12 unique products; the bath essentials line has 10 products; and the pet care line has seven products.
Required:
Which of the following statements is true about Casanova Supplies?
a.
The company lacks a product mix.
b.
The company has a product mix width of 4.
c.
The company has four items in its product mix.
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d.
The company has a narrow product mix length.
e.
The company has a product mix depth of 34 items.
178. Using the consumer products classification system, which of the following is most likely to be true of the
consumer factors for convenience products?
a.
Consumers tend to purchase convenience products frequently.
b.
Consumers tend to plan extensively before a purchase.
c.
Consumers tend to regard convenience of location as unimportant.
d.
Consumers tend to compare price and quality between competing products.
179. Gourmet restaurants and fast food chains cater to the same want satisfaction-a place to eat. However, at the
gourmet restaurants you experience finely prepared cuisine served by a highly trained wait staff while at the fast
food chains you may have to serve yourself. Which of the following characteristics of services best represents
this difference?
a.
Services are intangible.
b.
Companies cannot easily standardize services.
c.
Services are perishable.
d.
Service standards show wide variations.
180. Most people don't think of what they purchase from their yoga instructor as a product. But because you're a marketer,
you realize that a yoga class is a product because it delivers _____.
a.
effective positioning
b.
consumer want satisfaction
c.
Maslow's hierarchy of needs
d.
cost efficiency
e.
competition
181. Promotional campaigns conducted by a firm during the introductory stage of a product lifecycle generally
focus on:
a.
informing the market about the product and explaining its features.
b.
reducing the size of the available market through selective advertising.
c.
comparing the firm’s product with those of competitors .
d.
communicating new and alternate uses for the product.
182. Mike doesn't like to shop but when he needs new clothes, he goes to the Buckle because he's learned they
have great products, excellent service, and make it easy to get and out of the store quickly. Since he's away
from home attending college, he visits the local Buckle store to purchase a new pair of jeans. However, no one
greets him when he enters or asks him if he needs help. He can't remember the style of jean he normally buys
and becomes so frustrated that he leaves the store without making a purchase. What aspect or characteristic of
service best characterizes Mike's experience at the Buckle near his college?
a.
service standards show wide variations
b.
services are perishable
c.
services are inseparable from the service providers
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d.
services are intangible
183. Organic Hair Care Inc. markets a brand of shampoo and a brand of conditioner. The firm is now adding several new
sizes of each brand. This means OHC is changing its product mix _____.
a.
Depth
b.
Length
c.
Width
d.
Breadth
e.
Depth and breadth
184. Mobile computer tablets were introduced a few years ago. Due to its increasing popularity and high profit
levels, the number of companies making these tablets has increased. At the same time, differentiated products
for different market segments have begun to emerge. Mobile computer tablets appear to be in the _____ stage of
the product lifecycle.
a.
growth
b.
introductory
c.
maturity
d.
decline
185. Which of the following products is most likely to be promoted through advertisements rather than through
personal selling?
a.
Oil rigs
b.
Laptops
c.
Raw cotton
d.
Mineral ores
186. Beaux, a clothing boutique store, specializes in high-end evening wear for women. Most of the dresses are
custom-made for their elite customers. Beaux is an example of a store offering _____ products.
a.
impulse
b.
convenience
c.
shopping
d.
specialty
187. Which of the following business products would be classified as an installation?
a.
Paper clips
b.
Office filing cabinets
c.
Liquid inkjet printers
d.
Underground mining loaders
188. Special Confectioners, a major chocolate company, has recently started promoting its festive packs with the
tag line, “making each moment special.” By doing so, the management is trying to make its customers realize
the everyday relevance of their festive packs. In doing so, the company is attempting to extend the product
lifecycle by:
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a.
increasing the number of users.
b.
finding new uses for the product.
c.
changing product quality.
d.
increasing the frequency of use.
189. Which of the following is most likely to be categorized as a consumer product as well as a business
product?
a.
Natural gas
b.
Iron ore
c.
Concrete mixers
d.
Agriculture produce
190. Which of the following is true of convenience products?
a.
Consumers generally don’t have prior need recognition of convenience products before purchasing
them.
b.
Consumers generally tend to purchase convenience products immediately and with minimal effort.
c.
Consumers tend to buy convenience products after a long-term evaluation of competing products in
the market.
d.
Consumers tend to buy convenience products because of the prestige associated with their ownership.
191. In which stage of a product's life cycle is the firm focused on establishing and fortifying the product’s
market position by encouraging brand loyalty?
a.
decline stage
b.
growth stage
c.
rebirth stage
d.
maturity stage
e.
introduction stage
192. As head of marketing for Clarity Eyewear, you are focused on developing a promotional campaign that provides
information about the product's features. You are also working to induce channel members to stock it. Unfortunately, the
company is experiencing some technical problems and financial losses related to the product. Clarity Eyewear is most
likely in which stage of the product lifecycle?
a.
Growth
b.
Maturity
c.
Introductory
d.
Decline
e.
Research and Development
193. You work for the purchasing department of an up-and-coming eco-friendly fashion manufacturer, and have
been asked to ensure that you have ordered enough raw materials for the pieces in the fall collection. The fall
collections will feature plant-based T-shirts embellished with fancy stitching.
Required:
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Which of the following combination of items should you order?
a.
T-shirts, bamboo, and thread
b.
buttons, T-shirts, and thread
c.
buttons, thread, and bamboo
d.
bamboo, thread, and sewing machines
e.
T-shirts, sewing machines, and buttons
194. Which of the following is a single product line?
a.
Four-door sedans offered by various automobile manufacturers
b.
Passenger jets manufactured by Airbus and Boeing
c.
Almond, caramel and dark chocolate flavors of Hershey Kisses
d.
Different brands of toothpaste for people with sensitive teeth
195. Stefan is the manager of a Chili's restaurant and requires all employees to either arrive early or stay later to
perform a variety of "cleaning" duties around the restaurant. Stefan has a weekly "cleaning schedule" that
includes tasks such as dusting the decorations, polishing brass accents, dusting wood surfaces, and cleaning the
television screens. Stefan and his employees take pride in the appearance and cleanliness of the restaurant and
believes it's a "small" factor that can lead to "big" returns in the way of enhancing their level of service quality.
Which service quality variable are Stefan and his staff managing through the implementation of the cleaning
schedule?
a.
tangibles
b.
reliability
c.
responsiveness
d.
assurances
196. Delectable, a fast food chain, emphasizes a lot on things like how the staffs are dressed, how the food is
presented, as well as cleanliness of their service area. According to this information, Delectable is focusing on
which of the following variables of service quality?
a.
Assurances
b.
Responsiveness
c.
Tangibles
d.
Empathy
197. You are a rising star in the purchasing department at your company and you have recently been promoted
to manager of business services procurement. As your title suggests, you will be responsible for purchasing
business services for your firm.
Required:
Which of the following statements is true regarding your new role?
a.
You will be purchasing raw materials.
b.
You will be purchasing MRO supplies.
c.
You will be purchasing component parts.
d.
You will be purchasing janitorial services.
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e.
You will be purchasing process materials.
198. For the first time, your company is implementing the tool called benchmarking to set performance standards. In a
memo you received introducing the new effort, you noticed an error. Which of the following statements was (were)
wrong?
a.
Benchmark analyses establish a baseline for comparison.
b.
Benchmark analyses can be internal or external.
c.
This approach provides an objective basis for making improvements.
d.
Implementing changes for quality improvement is part of the benchmarking process.
e.
The ultimate goal of benchmarking is to achieve competitive advantage.
199. The term service _____ refers to the point at which the customer and service provider interact.
a.
encounter
b.
locus
c.
platform
d.
zone
200. Convenience products that customers constantly replenish to maintain a ready inventory are categorized as:
a.
staples.
b.
impulse goods.
c.
emergency goods.
d.
shopping products.
201. The number of product lines a firm offers is referred to as the _____ of its product mix.
a.
depth
b.
width
c.
volume
d.
length
202. Which of the following is true of specialty products?
a.
Purchasers are usually bargain hunters who are not willing to pay much.
b.
Purchasers begin shopping with complete information of the desired product.
c.
Purchasers tend to exert minimal effort to obtain the desired product.
d.
Purchasers generally accept substitutes if the desired product is unavailable.
203. A bundle of physical, service, and symbolic attributes designed to satisfy a customer's needs and wants is
called a(n):
a.
product
b.
market offering
c.
differentiated offer
d.
tangible offering
204. With reference to the business products classification system, which of the following group of products
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typically has a long distribution channel?
a.
Installations
b.
Component parts and materials
c.
Raw materials
d.
Supplies
205. Heinz, the maker of various products including vinegar promotes the many uses for vinegar on its website
and social media outlets. For example, in addition to being utilized as a food preparation ingredient, vinegar
can be used to clean windows, get clothes cleaner, clean carpets, wash fresh produce and dissolve glue. By
marketing the various uses of vinegar, Heinz is attempting to:
a.
find new uses for the product
b.
increase the number of users
c.
influence consumers to adopt green practices
d.
enhance its relevance to consumers
206. You are learning about product lines in your marketing class and want to impress your professor with some
details you have learned on your own.
Required:
Which of the following assertions can you make about expanding a company’s product lines?
a.
Product line expansion is a risk not worth the reward.
b.
Product line expansion is a fairly inexpensive process.
c.
Product line expansion increases production costs in the long term.
d.
Product line expansion can help to cut production and marketing costs.
e.
Product line expansion does not affect the cost of a company’s marketing mix variables.
Indicate one or more answer choices that best complete the statement or answer the question.
207. Susan has noted the growing popularity of blow-dry-only salons with busy women who need last-minute hair care or
touchups. Now she is opening her own. To maximize her opportunity for success, Susan should strive to:
a.
Locate the salon in a visible location
b.
Offer late-night and weekend hours
c.
Promote the salon in as many media as possible
d.
Promote the salon in a few prestigious media
e.
Not require appointments
208. Sal's Pizza originally sold nothing but slices of that popular food. A marketing consultant advised the owner to add
Sal's Pizza Sauce, Sal's Ready-to-Bake Pizza Crust, and Sal's Pizza Cheese. The consultant told him that by making this
move, he would enhance the opportunity for Sal's to:
a.
Grow
b.
Improve its market position
c.
Better utilize company resources
d.
Make itself more important to customers
e.
Charge premium prices
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Match each item with the correct statement below.
a.
marketing mix
b.
specialty products
c.
product
d.
services
e.
convenience products
f.
impulse goods
g.
installations
h.
wholesalers
i.
business-to-business (B2B)
j.
supplies
k.
emergency goods
l.
shopping products
m.
component parts and materials
n.
staples
o.
product mix
p.
product line
q.
line extension
r.
total quality management
s.
product lifecycle
t.
benchmarking
209. The _____ is the blending of the four strategy elements—product, distribution, promotion, and price—to fit
the needs and preferences of a specific target market.
210. A bundle of physical, service, and symbolic attributes designed to satisfy a customer’s wants and needs is
called a(n) _____.
211. Intangible tasks that satisfy the needs of consumer and business users are called _____.
212. A product that contributes directly or indirectly to the output of other products for resale is also known as
a(n) _____ product.
213. Goods and services consumers want to purchase frequently, immediately, and with minimal effort are
called _____.
214. Products purchased on the spur of the moment are called _____.
215. The convenience goods and services that consumers constantly replenish to maintain a ready inventory are
called _____.
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216. Products bought in response to unexpected and urgent needs are called _____.
217. Products consumers purchase after comparing competing offerings are called _____.
218. Products with unique characteristics that cause buyers to prize those particular brands are called _____.
219. _____ are major capital investments in the B2B market.
220. Channel intermediaries that take title to goods they handle and then distribute these goods to retailers, or
business or B2B customers are known as _____.
221. Finished business products of one producer that become part of the final products of another producer are
called _____.
222. _____ constitute the regular expenses a firm incurs in its daily operations.
223. Continuous effort to improve products and work processes with the goal of achieving customer satisfaction
and world-class performance is referred to as _____.
224. The method of measuring quality by comparing performance against industry leaders is known as _____.
225. A series of related products offered by one company is called a(n) _____.
226. The assortment of product lines and individual product offerings a company sells is called the _____.
227. Development of individual offerings that appeal to different market segments while remaining closely
related to the existing product line is referred to as _____.
228. The progression of a product through introduction, growth, maturity, and decline stages is called its _____.
229. Define service quality. Describe its five variables.
230. Define product line. Discuss some of the reasons why firms develop product lines.
231. Describe the three categories of supplies.
232. Define consumer products (B2C) and business products (B2B). Explain the different types of consumer
products. Give an example of each from your recent purchasing activities.
233. Define product lifecycle. Describe the various stages of a product lifecycle.
234. Why is marketing perceived as a significant activity by most service firms?
235. Discuss the problems posed by the application of the three-way classification system of convenience,
shopping, and specialty goods and services.
236. What are the different ways in which firms can extend a product’s lifecycle? Explain any one of them.
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237. List the five factors that marketers should consider for classifying consumer services.
238. How can we distinguish services from goods? Give an example of how buyers can play an important role in
the creation of services.
239. What is product mix? How do marketers typically measure product mix? Measure the product mix of a
company you know of.
240. Define product. How do marketers perceive products?
241. Define homeshoring. What are its advantages? Give some examples of U.S. companies that practices
homeshoring.
242. Explain the importance of the service sector in the U.S. economy.
243. Discuss the characteristics of shopping products. Do marketers essentially use the same approach to market
all shopping products?
244. Discuss the five different categories of business products.
245. Define benchmarking. Describe the benchmarking process.
246. What are the three categories of convenience products? Give examples for each type.
247. Define Total Quality Management (TQM) and ISO 9001:2008. Give examples of some companies that you
know of as certified by ISO.
248. Define line extension. Give examples
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Answer Key
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