Question 1

Diamond rings, Rolex watches, Godiva chocolates, and Rolls Royces are examples of
A) a product mix.
B) convenience goods.
C) shopping goods.
D) a product line.
E) specialty goods.

Accepted Answer

These products are considered specialty goods because they are high-end luxury items that consumers are willing to spend a significant amount of money on. They also typically have a strong brand image and are associated with prestige and exclusivity.

Question 2

Which of the following is a convenience service?
A) A limousine ride from the restaurant to senior prom
B) Catering for a wedding reception
C) A haircut at one of Great Clips' 3000 quick-service salons
D) A hotel room next door to the convention you're attending
E) The daily newspaper

Accepted Answer

A convenience service is one that is designed to make life more convenient for the consumer. Options A, B, and D could be considered luxury or special occasion services, but not necessarily convenience services. Option E may be convenient for some, but not for everyone. A quick haircut at a nearby salon, however, is a classic example of a convenience service.

Question 3

Which of the following is correct with regard to rational and emotional purchase motives?
A) Emotional purchase motives generally lead to post-purchase unhappiness.
B) Rational motives are normally used for industrial goods purchases, while emotional motives are normally used for consumer goods purchases.
C) Research shows that rational motives are more commonly used by men, while emotional motives are more commonly used by women.
D) Emotional motives are used when purchasing services, while rational motives are used when purchasing goods.
E) None of these is correct.

Accepted Answer

The statements provided as options A, B, C, and D contain generalizations or misconceptions about purchase motives. Emotional purchase motives do not necessarily lead to post-purchase unhappiness. The distinction between industrial and consumer goods purchases or services and goods purchases based on rational versus emotional motives is not absolute. Similarly, attributing rational motives predominantly to men and emotional motives to women is an oversimplification and can be misleading. Purchase motives can vary widely among individuals and situations, making E the correct choice.

Question 4

You and your spouse decide that the sports car you currently own is not going to be suitable for travelling with your new baby, Amy. You are in what stage of the consumer buying process?
A) Purchase decision
B) Post-purchase evaluation
C) Problem recognition
D) Information seeking
E) Evaluation of alternatives

Accepted Answer

The stage of problem recognition is when a consumer becomes aware of a need or problem, which in this case is the need for a more suitable car to travel with the new baby.

Question 5

Which of the following is the best example of a B2B market transaction?
A) A college student buys dorm furniture from an on-campus store.
B) A group of teenage girls buy new clothes for the upcoming school year.
C) A high school coach borrows sports equipment from a neighbouring school.
D) A dentist provides free toothbrushes to patients.
E) A chain of ice cream parlours regularly purchases napkins from the same supplier.

Accepted Answer

A chain of ice cream parlours regularly purchasing napkins from the same supplier is the best example of a B2B market transaction. This is because the transaction involves one business (the ice cream parlours) purchasing goods (napkins) from another business (the supplier).

Question 6

Pencils, brooms, and gloves are examples of ________, while factories, water towers, and airplanes are examples of ________.
A) capital items; expense items
B) supplies; installations
C) services; capital items
D) expense items; capital items
E) capital items; supplies

Accepted Answer

Pencils, brooms, and gloves are all items that are expenses, while factories, water towers, and airplanes are all capital items. Expense items are used up quickly and are not expected to last long, while capital items are long-lasting and are considered assets to a company.

Question 7

Milk, newspapers, bread, and batteries are examples of ________ goods.
A) specialty
B) shopping
C) convenience
D) coincidental
E) impulse

Accepted Answer

Convenience goods are products that are frequently purchased by consumers with minimal effort, as they are widely available in stores and are usually low-cost. Milk, newspapers, bread, and batteries are regularly bought products and fall under the category of convenience goods. Specialty, shopping, coincidental, or impulse goods do not fit the description of these products.

Question 8

If you are in the market for a new set of skis, you probably have some idea of who provides the best skis and how they differ. You may have accumulated some of this knowledge during the information-seeking stage and combined it with what you knew before. The next stage for you is to
A) evaluate alternatives.
B) seek information.
C) buy a new pair of skis.
D) recognize the problem.
E) evaluate post-purchase.

Accepted Answer

Since the customer has already gathered information on the available options, the next stage is to evaluate and compare the alternatives before making a purchase decision.

Question 9

The Delivery Company has an extensive distribution network in Canada. They buy products directly from manufacturers and distribute them to small retailers at a nominal mark-up. What market do they belong to?
A) Institutional market
B) Demand-driven market
C) Industrial market
D) Primary market
E) Reseller market

Accepted Answer

The Delivery Company buys products from manufacturers and distributes them to small retailers. This indicates that they are a reseller, operating in the reseller market.

Question 10

Westminster Office Products buys paper products from Boise Cascade for sale in its retail stores. Westminster Office Products purchases paper products in the ________ market.
A) retail
B) government
C) industrial
D) reseller
E) institutional

Accepted Answer

Westminster Office Products is purchasing paper products for resale in its retail stores, which means it is operating in the reseller market.

Question 11

Melissa was visiting San Francisco. When she arrived at Fisherman's Wharf, she decided to purchase a souvenir T-shirt for her boyfriend back home. Since there are about 40 T-shirt retailers in that area, Melissa spent the rest of the day searching for the shirt that would convey just the right meaning to her boyfriend. For Melissa, the shirt was a(n) ________ good.
A) specialty
B) convenience
C) shopping
D) accessory
E) industrial

Accepted Answer

Melissa spent considerable time and effort searching for the perfect T-shirt, which is characteristic of shopping goods. Shopping goods are those for which consumers spend time comparing quality, price, and style across different sellers before making a purchase decision.

Question 12

Which of the following is true with regard to the concept of the value package?
A) The physical characteristics of the product are the primary focus for the consumer.
B) The price of the product is the primary focus of the consumer.
C) The value package includes both tangible and intangible attributes of the product.
D) The value package cannot be high if the price of the product is high.
E) The value package concept applies to physical products, but not intangible services.

Accepted Answer

The value package includes both tangible and intangible attributes of the product. This means that it goes beyond just the physical characteristics of the product or the price, and includes all aspects that create value for the consumer. It can apply to both physical products and intangible services. The value package can still be high even if the price of the product is high, if the benefits and value delivered to the consumer outweigh the cost.

Question 13

Boilers Inc. sells 100% of its boilers to churches to improve their energy efficiency and to decrease their heating costs. The company is involved in
A) charitable marketing.
B) industrial marketing.
C) consumer marketing.
D) quality assurance marketing.
E) institutional marketing.

Accepted Answer

Boilers Inc. targets institutions like churches, which are not individual consumers but rather part of a larger organization. They are focused on institutional marketing, which targets organizations rather than individual consumers.

Question 14

Stereos, tires, business suits, and furniture are examples of ________ goods.
A) convenience
B) impulse
C) coincidental
D) shopping
E) specialty

Accepted Answer

Shopping goods are those for which consumers are willing to spend time comparing options and prices before making a purchase decision, such as stereos, tires, business suits, and furniture. Convenience goods are those that consumers purchase frequently and with minimal effort, such as snacks or toiletries. Impulse goods are those that consumers may purchase on a whim, such as candy or magazines. Coincidental goods are those that are purchased due to a specific circumstance, such as an umbrella on a rainy day. Specialty goods are those that consumers are willing to expend significant effort to obtain, such as high-end designer clothing or luxury cars.

Question 15

Bread is an example of a(n) ________, while the catering for a wedding reception is an example of a(n) ________.
A) shopping good; shopping service
B) convenience good; specialty good
C) specialty good; specialty service
D) convenience good; specialty service
E) shopping good; shopping good

Accepted Answer

Bread is a convenience good, which means it is a low-cost product that is purchased frequently and is readily available. Catering for a wedding reception, on the other hand, is a specialty service, which involves providing specialized skill or knowledge to meet customers' unique needs. Therefore, the best choice is D, which includes both a convenience good and a specialty service.

Question 16

Coffee, potato chips, newspapers, bread, and AA batteries are examples of ________, while stereos and tires are examples of ________.
A) shopping goods; shopping services
B) convenience goods; shopping goods
C) specialty goods; specialty services
D) convenience goods; specialty services
E) shopping goods; shopping goods

Accepted Answer

Coffee, potato chips, newspapers, bread, and AA batteries are convenience goods, which are inexpensive items that consumers purchase frequently and with minimal effort, such as in a grocery store. On the other hand, stereos and tires are shopping goods, which are more expensive items that require more research and effort in the purchasing process, such as comparison shopping and careful consideration.

Question 17

Which of the following would most likely be considered a shopping good?
A) A package of chewing gum
B) A Bic pen
C) A ream of typing paper
D) A birthday gift for your mother
E) A loaf of bread

Accepted Answer

Shopping goods are those for which consumers usually spend considerable effort planning and making the purchase. Unlike convenience goods (like chewing gum, pens, paper, or bread), which are bought frequently and with minimal effort, a birthday gift for your mother is something you would likely spend more time selecting, comparing options, and making a decision on. This effort and comparison process is characteristic of shopping goods.

Question 18

Suppose Mr. Tyler is coming home from a business trip. It is late at night, his cab is waiting, and he suddenly remembers that he forgot to buy his wife a gift. The only shop in the airport that is open sells souvenir T-shirts. Mr. Tyler quickly buys a shirt for $14.95. For him, the shirt was a(n) ________ good.
A) convenience
B) industrial
C) shopping
D) accessory
E) specialty

Accepted Answer

Mr. Tyler needed to purchase a gift quickly and the souvenir T-shirt was the only option available at the airport. Therefore, the souvenir T-shirt was a convenience good for him.

Question 19

Goods which are very important, expensive, and rarely purchased are ________ goods.
A) shopping
B) impulse
C) convenience
D) coincidental
E) specialty

Accepted Answer

Specialty goods refer to products that are unique or of high quality in a particular category, and are therefore more expensive than other types of goods. They are usually purchased infrequently, and customers are willing to expend considerable effort and time in searching for them.

Question 20

Sara's parents will be celebrating their fiftieth wedding anniversary. Sara is planning to have the party catered. The catering is considered
A) a specialty service.
B) a convenience good.
C) a specialty good.
D) a shopping good.
E) a shopping service.

Accepted Answer

Catering is considered a specialty service because it is a unique, high-value service tailored to specific events or needs, such as a fiftieth wedding anniversary, where the service provider often offers customized options and experiences.

Quiz 12: Understanding Marketing Principles and Developing Products

Diamond rings, Rolex watches, Godiva chocolates, and Rolls Royces are examples of

Which of the following is a convenience service?

Which of the following is correct with regard to rational and emotional purchase motives?

You and your spouse decide that the sports car you currently own is not going to be suitable for travelling with your new baby, Amy. You are in what stage of the consumer buying process?

Which of the following is the best example of a B2B market transaction?

Pencils, brooms, and gloves are examples of , while factories, water towers, and airplanes are examples of .

Milk, newspapers, bread, and batteries are examples of ________ goods.

If you are in the market for a new set of skis, you probably have some idea of who provides the best skis and how they differ. You may have accumulated some of this knowledge during the information-seeking stage and combined it with what you knew before. The next stage for you is to

The Delivery Company has an extensive distribution network in Canada. They buy products directly from manufacturers and distribute them to small retailers at a nominal mark-up. What market do they belong to?

Westminster Office Products buys paper products from Boise Cascade for sale in its retail stores. Westminster Office Products purchases paper products in the ________ market.

Which of the following is true with regard to the concept of the value package?

Boilers Inc. sells 100% of its boilers to churches to improve their energy efficiency and to decrease their heating costs. The company is involved in

Stereos, tires, business suits, and furniture are examples of ________ goods.

Bread is an example of a(n) , while the catering for a wedding reception is an example of a(n) .

Coffee, potato chips, newspapers, bread, and AA batteries are examples of , while stereos and tires are examples of .

Which of the following would most likely be considered a shopping good?

Goods which are very important, expensive, and rarely purchased are ________ goods.

Sara's parents will be celebrating their fiftieth wedding anniversary. Sara is planning to have the party catered. The catering is considered