193. (p. 376) When consumers calculate the value of a product, they:
A. subtract the cost of production from the market price.
194. (p. 376) Whether a consumer thinks a product provides the best value depends upon:
D. the laws covering the product’s manufacture.
195. (p. 377, Dealing with Change box) According to one of the “Dealing with Change” boxes in Chapter 14, the way the
CEO of Panera Bread won the 2005 Foodservice Operator of the Year award presented by the International
Food Service Manufacturers was to:
D. open more stores in a single year than other foodservice operators.
196. (p. 378, Spotlight on Small Business box) The “Spotlight on Small Business” box in Chapter 14 suggests the product
offered by Dream Dinners is the:
D. catering experience used when a consumer wants to impress guests with a gourmet dinner at home.
197. (p. 378) The combination of all the factors that consumers evaluate when deciding whether or not to buy a
good or service is called a:
D. product package.
198. (p. 378, figure 14.1) When people consider purchasing a good, they:
A. are responding to the market forces of supply and demand.
199. (p. 379) Which of the following refers to a group of products offered by a firm that are physically similar or
are intended for a similar market?
D. total product offer
200. (p. 380) The combination of product lines offered by a manufacturer is called the firm’s:
D. product portfolio.
201. (p. 378, figure 14.1) Which of the following would be included in the total product offer of benefits that
consumers consider when buying a good or service?
A. U.S. economy
202. (p. 376) The best product development strategy for most firms is to:
A. develop a small number of products that achieve market success and stick with them, because constantly
changing old products (or introducing new ones) can confuse and frustrate customers.
203. (p. 378) LoRider Wheels sells high quality bicycles and accessories. The store is known for a pleasant
environment, friendly salespeople and an excellent service department. All of these elements are part of the
___________ offered by LoRider.
D. marginal utility package
204. (p. 378) When consumers decide to purchase a particular product, they:
D. initially evaluate the product’s package.
205. (p. 379) Which of the following is the best example of a product line?
A. General Motors offers passenger cars, small trucks, and tractor trailers.
206. (p. 378) Sweet Dream Confectioners uses the same ingredients as most other producers of chocolate candies.
In fact, taste tests suggest that the candy itself, while quite good, isn’t much better than other well-known brands
of chocolate. However, the company wraps its candies in expensive looking foil and places them in very
attractive boxes. It promotes its products in advertisements as “the ultimate in chocolate experience.” Sweet
Dream charges a much higher price than most competitors, but sales continue to grow. This success indicates
that:
D. chocolate is best classified as a convenience good.
207. (p. 378) In evaluating colleges, students and parents are likely to judge a school:
A. strictly on the basis of major curriculums offered.
208. (p. 380) The Procter & Gamble Company produces bar soap, disposable diapers, deodorants, laundry
detergents, peanut butter, cookies, cake mix, shampoo, shortening, coffee, and many other products. These
products are part of P&G’s:
A. product line.
209. (p. 380) Borden, Inc. makes pasta, dairy items, and adhesives. These different types of products are referred
to as Borden’s:
D. product life cycle.
210. (p. 380) The Procter & Gamble Company is a major producer of bar soaps. In fact, Procter & Gamble
produces Ivory, Camay, Lava, Safeguard, Zest, and Coast bar soaps that all claim a variety of benefits. These
products are part of Proctor & Gamble’s __________ in bar soaps.
A. product mix
211. (p. 379) The Coca Cola Company produces Diet Coke, Diet Coke with Splenda, and Coke Zero along with a
number of other flavors. These products are part of Coke’s:
D. product collection.
212. (p. 379, Dealing with Change box) According to one of the “Dealing with Change” boxes in Chapter 14, how are some
realtors differentiating their product from that offered by other realtors?
213. (p. 380) The purpose of __________ is to create real or perceived product differences.
D. target marketing
214. (p. 380) For small businesses, product differentiation:
A. is more difficult than it is for larger firms because of the high cost of product research and development.
215. (p. 380) Location is very important in the marketing of ________ because consumers desire to purchase these
goods with a minimum of shopping effort.
A. unsought goods
216. (p. 381) Which of the following are products consumers buy after comparing quality, price, and style from a
variety of sellers?
D. unsought goods
217. (p. 381) __________ goods appeal to consumers who are willing to make an extra shopping effort to acquire
them.
D. Consumer
218. (p. 382) __________ goods and services represent those products that consumers are unaware of or haven’t
thought of buying.
A. Inferior
219. (p. 382) Products that are used in the production of other goods and services are called ________ goods.
A. specialty
220. (p. 382) __________ consist of major capital equipment such as new factories and heavy machinery.
A. Accessory goods
221. (p. 382) Computers, copiers, and fax machines used by businesses would be classified as:
A. installations.
222. (p. 380) Successful product differentiation:
D. is less important due to the growth of the Internet.
223. (p. 380) Which of the following would allow a firm to utilize product differentiation?
A. financial differences
224. (p. 381) Which of the following products would normally be classified as a shopping good or service?
D. chewing gum
225. (p. 380) Which of the following statements regarding convenience goods and services is accurate?
A. Shoppers will exert lots of effort to obtain the product.
226. (p. 382) Which of the following would be considered an unsought good or service by a typical college
student?
A. college textbook
227. (p. 382) Buccaneer Industries manufactures and markets expensive industrial cranes. This long lasting heavy
equipment would be classified as a(n) __________ good.
D. consumer
228. (p. 380) “I Can’t Believe That It’s Medicine” is an advertising slogan for a new antacid. The manufacturer
claims that their antacid works faster and tastes better than any competing brand. These claims are part of the
firm’s strategy to achieve:
A. deceptive marketing recognition.
229. (p. 380) As restaurant chains that specialize in Mexican cuisine, Fernando’s and Carmelita’s offer similar
items on their menus. However, Fernando’s restaurants are positioned in the market as elegant establishments
with high prices. Carmelita’s restaurants, on the other hand, are located in middle-class neighborhoods, with a
casual atmosphere that welcomes families with young children. The prices at Carmelita’s are in the moderate
range. When evaluating the marketing strategies used by these restaurants, we can conclude that:
D. their target markets differ, with one intended to appeal to the industrial market, and the other designed to
attract the consumer market.
230. (p. 380) Entice-mint Breath Mints is a new brand of breath fresheners. The company realizes that product
location is very important since consumers desire to buy this type product with a minimum of effort.
Entice-mint mints represent a:
A. shopping good.
231. (p. 381) Suits for Success is a men’s clothing store in a large suburban shopping mall. The managers of the
store know that their customers usually comparison shop, looking carefully at quality and price before deciding
to buy. Armed with this information, Suits for Success carries quality clothing, offers competitive pricing, and
friendly, helpful service. The target customers apparently view men’s suits as a:
A. specialty good.
232. (p. 381) Karen is a collector of fine art, particularly paintings. She has been looking for an original Lady
Molly painting for months and has said that she is willing to go to extraordinary efforts to acquire this painting
for her collection. Clearly this painting represents a __________ good for Karen.
A. shopping
233. (p. 381) Which of the following products would most likely be classified as a specialty good or service?
D. a car insurance policy
234. (p. 382) June lives in the southern part of Alabama where winters are normally fairly mild. Last January,
during an unusually cold spell, the water pipes in her house froze and burst. She had to look in the Yellow Pages
to find a plumber who was able to come out and repair the pipes the same day. Prior to the frozen pipes, the
plumber’s services represented a(n):
D. convenience service.
235. (p. 382) Soprano Manufacturing acquired several pieces of expensive heavy machinery it intends to use in its
operations. As an industrial good, this heavy machinery represents:
D. a shopping good.
236. (p. 383) _________ is an important part of the total product offer for a product.
A. Consumer income
237. (p. 384) Today, packaging is:
D. the most expensive component of the production process.
238. (p. 385) A recent trend in packaging is:
D. the acceptance of the view that bigger is better.
239. (p. 384) In marketing today, packaging carries the added responsibility of:
D. keeping product costs down.
240. (p. 384) The __________ on packages were intended to improve inventory control for businesses.
D. Unit Standard Inventory bars
241. (p. 384) The trend away from personal salespeople to self-service in many retail outlets has caused firms to:
A. reduce their advertising promotional budgets.
242. (p. 384) Attracting attention, describing contents, explaining benefits and identifying the uses of a product are
all functions of:
A. target marketing.
243. (p. 384) The evaluation of packaging as a marketing function indicates that:
D. the primary purpose of packaging is to limit the product liability of businesses.
244. (p. 384) Which of the following statements about packaging is the most accurate?
D. Packaging has avoided federal regulations.
245. (p. 384) Which of the following statements is the most accurate assessment of the role packaging plays in
product offerings?
A. The importance of packaging has diminished as the use of the Internet has grown.
246. (p. 385) A __________ is a name, symbol, or design (or combination of these) that identifies the goods or
services of one seller or group of sellers and distinguishes them from those of competitors.
D. copyright
247. (p. 385) A brand that has been given exclusive legal protection, such as the McDonald’s golden arches is a:
A. private brand.
248. (p. 385) Which of the following is a benefit of a brand name for a buyer?
D. differentiates products so that prices can be set higher
249. (p. 385) Which of the following is a benefit of a brand name for a seller?
A. quality assurance
250. (p. 385) When a brand becomes commonplace and identified with a category of goods rather than the unique
product of a specific manufacturer, the brand may become a:
D. product liability issue.
251. (p. 386) Nonbranded products that sell below the price of national brands, have very basic packaging, and are
backed with little or no advertising are called:
A. universal goods.
252. (p. 386) Knockoff brands are ________ copies of national brand-name goods.
A. exact
253. (p. 386) Brand __________ refers to the loyalty, perceived quality, and emotions people associate with a
given brand name.
D. ownership
254. (p. 386) The degree to which customers are satisfied and are committed to future purchases of a desired brand
is called:
A. brand awareness.
255. (p. 385) The rainbow colored apple is Apple Computer’s:
A. generic name.
256. (p. 385) The brand names that are used by producers that distribute products nationally are called:
D. universal brand names.
257. (p. 386) Which of the following refers to how quickly or easily a given brand name comes to mind when a
product category is mentioned?
258. (p. 386) When consumers reach the point of brand ________, the product becomes a specialty good.
A. association
259. (p. 385) Products that carry the name of a distributor or a retailer instead of the manufacturer’s name are
called:
D. equity brands.
260. (p. 387) Brand __________ refers to the linking of a brand to other favorable images, such as a celebrity.
D. insistence
261. (p. 385) The use of the Folgers’s ________ allows customers to easily identify this product from other coffee
products.
A. patent