Question 1

Automobile fenders are an example of
A) accessory equipment.
B) raw materials.
C) process materials.
D) component parts.
E) supplies.

Accepted Answer

Automobile fenders are considered component parts as they are a part of the final product, the car, and are assembled to create the final product.

Question 2

A wrench used to make adjustments to machinery that produces copper wire is classified as
A) raw material.
B) component part.
C) process material.
D) major equipment.
E) accessory equipment.

Accepted Answer

A wrench would be classified as accessory equipment, which is used to support the production process but is not a major piece of equipment or a component part.

Question 3

____ become(s)a part of the physical product and consist(s)of either finished items ready for assembly or products that need little processing before assembly.
A) Process materials
B) Supplies
C) Accessory equipment
D) Component parts
E) Major equipment

Accepted Answer

Component parts become a part of the physical product and consist of either finished items ready for assembly or products that need little processing before assembly. Process materials are materials used in the production process, supplies are consumables used in the production process, accessory equipment is used to support the production process, and major equipment is large, expensive machinery used in the production process.

Question 4

Gigi Smith wanted to buy a new car.She visited several dealers to compare prices,styles,and dealer reputations.Finally,she bought a car from a local dealer.The purchase of a car is an example of a
A) convenience product.
B) specialty product.
C) business product.
D) shopping product.
E) major equipment item.

Accepted Answer

The purchase of a car involves comparison-shopping for prices, styles, and dealer reputations, which categorizes it as a shopping product.

Question 5

All of the following are business products except
A) color televisions in the electronics department of a large retail store.
B) iron ore in a steel plant.
C) small hand tools in an automobile repair shop.
D) toner cartridges in the supply closet of a word processing center.
E) a new appliance in someone's home.

Accepted Answer

The other options involve goods or products used in a business setting, while option E involves a consumer purchase for personal use in a home.

Question 6

Iron ore in a steel plant is an example of
A) supplies.
B) component parts.
C) raw materials.
D) process materials.
E) accessory equipment.

Accepted Answer

Iron ore is a raw material that is used in the production process of steel.

Question 7

Fiona collects antique Fabergé eggs.For most of these eggs,only one or a few were created of each design.These eggs would best be classified as ____ products.
A) specialty
B) convenience
C) business
D) shopping
E) luxury

Accepted Answer

Specialty products are unique or unusual items that are not bought frequently and require special effort to obtain. Antique Fabergé eggs fit this description as they are one-of-a-kind collectibles that are not commonly available.

Question 8

Consumers would most likely treat candy bars as ____ products.
A) business
B) shopping
C) specialty
D) convenience
E) household

Accepted Answer

Candy bars are considered convenience products because they are purchased frequently, immediately, and with minimal effort or thought by consumers.

Question 9

For a product such as staples,which of the following determines whether it is a consumer product or a business product?
A) Quantity purchased
B) Use of the product
C) Basic function the product provides
D) Whether it is purchased for cash or credit
E) Need satisfied

Accepted Answer

The use of the product determines whether it is a consumer product or a business product. Staples can be used by both consumers and businesses, but if they are purchased for use in a home office or for personal use, they are considered a consumer product. If they are purchased for use in a commercial office or for business purposes, they are considered a business product.

Question 10

Appliances,men's suits,and ____ are examples of shopping products.
A) bicycles
B) process materials
C) chewing gum
D) soft drinks
E) cranes

Accepted Answer

Bicycles are typically considered shopping products because consumers usually put some time and effort into researching and comparing different options before making a purchase. Process materials, chewing gum, and soft drinks are typically considered convenience products because they are frequently purchased with minimal effort or consideration. Cranes, on the other hand, would be considered specialty products as they are highly unique and typically only purchased by businesses with specific needs. Men's suits and appliances, like bicycles, are shopping products because they are generally thought of as higher priced items that consumers are willing to invest time and effort in selecting.

Question 11

Bread,gasoline,and ____ are examples of convenience products.
A) cars
B) furniture
C) newspapers
D) large appliances
E) a cruise

Accepted Answer

Convenience products are those that are purchased frequently, immediately, and with a minimum of effort, such as newspapers. Cars, large appliances, and furniture are considered shopping products as they require more time and effort to purchase. A cruise is a specialty product as it is expensive and purchased infrequently.

Question 12

An order of calculators with new features just arrived for the finance department of PUMA.These calculators represent
A) major equipment.
B) process materials.
C) component parts.
D) accessory equipment.
E) office materials.

Accepted Answer

The calculators with new features would be considered accessory equipment, as they are not a vital component of the finance department's operations, but rather a tool that can enhance their work.

Question 13

David and Andy White decided to buy new furniture for their bedroom.They spent considerable time shopping around,comparing prices and styles.Bedroom furniture is best classified as a ____ product.
A) convenience
B) business
C) shopping
D) specialty
E) major equipment

Accepted Answer

Bedroom furniture is not a convenience item that consumers buy frequently without much thought or effort. It is not a business product intended for use in a commercial context. It is not a specialty item that requires specific knowledge or skill to use. It is also not a major equipment item that requires significant financial investment and planning. Instead, bedroom furniture is typically a shopping product that consumers evaluate and compare before making a purchase decision.

Question 14

Consumers would most likely treat personal computers as ____ products.
A) business
B) convenience
C) specialty
D) shopping
E) luxury

Accepted Answer

Personal computers are typically considered shopping products because consumers spend time comparing different brands, models, and prices before making a purchase. They are not bought as frequently as convenience products, and they require more thought and effort to choose than specialty or luxury items, which are sought after for their unique characteristics or brand prestige. Unlike business products, which are purchased for operational needs in a business context, personal computers can be bought by individuals for personal or home use based on specific preferences and comparisons.

Question 15

Fazoli's restaurant purchased two large ovens for its kitchen.These ovens are an example of which type of business product?
A) Convenience product
B) Accessory equipment
C) Major equipment
D) Component parts
E) Process material

Accepted Answer

Major equipment is a type of business product that consists of expensive and long-lasting capital goods used in the production or operation of a business. The ovens are a significant investment for Fazoli's and are designed to be durable and reliable for many years of use in its kitchen.

Question 16

Which business product classification is most appropriate for the wire used inside a stereo system?
A) Raw material
B) Major equipment
C) Accessory equipment
D) Component part
E) Process material

Accepted Answer

The wire used inside a stereo system is a component part, as it is one of the essential parts used to build the system. Raw material and process material are used in the production process, while major equipment and accessory equipment are larger items used to operate the system, but not integral to its construction.

Question 17

A consumer product for which buyers will not accept a substitute,for which purchasers do not compare alternatives,and that is purchased infrequently and with extra effort on the buyer's part is a ____ product.
A) luxury
B) business
C) specialty
D) shopping
E) convenience

Accepted Answer

The given description is of a specialty product. Such products have unique characteristics that are highly valued by certain customers, and they do not accept substitutes or alternatives. The purchase of such products requires extra effort on the part of buyers. Examples of specialty products include luxury cars, designer clothes, and high-end electronics.

Question 18

Consumer products can be divided into the following three categories:
A) convenience,shopping,and business.
B) shopping,convenience,and specialty.
C) convenience,component,and accessory.
D) shopping,component,and specialty.
E) business,specialty,and shopping.

Accepted Answer

This is the most commonly used categorization for consumer products. Convenience products are those that customers purchase frequently and with minimal effort, such as toothpaste or bread. Shopping products are usually more expensive and require more effort to purchase, such as a car or a new phone. Specialty products are unique and high-priced items that customers are willing to make an extra effort to obtain, such as a Rolex watch or a custom-made wedding gown.

Question 19

Which of the following is an example of a raw material that would be used in the production of a physical product?
A) Steel sheets
B) Paper
C) Plastic
D) Timber
E) Gasoline

Accepted Answer

The answer of Which of the following is an example...

Question 20

Energizer batteries are sold in multipacks to make it more convenient for the consumer,who usually needs more than one battery at a time.Energizer batteries would be classified as a ____ product.
A) household
B) shopping
C) luxury
D) specialty
E) convenience

Accepted Answer

Energizer batteries are sold in multipacks to provide a convenient solution for consumers who require multiple batteries at once, making them a convenience product.

Quiz 12: Creating and Pricing Products That Satisfy Customers

Automobile fenders are an example of

A wrench used to make adjustments to machinery that produces copper wire is classified as

____ become(s) a part of the physical product and consist(s) of either finished items ready for assembly or products that need little processing before assembly.

Gigi Smith wanted to buy a new car.She visited several dealers to compare prices,styles,and dealer reputations.Finally,she bought a car from a local dealer.The purchase of a car is an example of a

All of the following are business products except

Iron ore in a steel plant is an example of

Fiona collects antique Fabergé eggs.For most of these eggs,only one or a few were created of each design.These eggs would best be classified as ____ products.

Consumers would most likely treat candy bars as ____ products.

For a product such as staples,which of the following determines whether it is a consumer product or a business product?

Appliances,men's suits,and ____ are examples of shopping products.

Bread,gasoline,and ____ are examples of convenience products.

An order of calculators with new features just arrived for the finance department of PUMA.These calculators represent

David and Andy White decided to buy new furniture for their bedroom.They spent considerable time shopping around,comparing prices and styles.Bedroom furniture is best classified as a ____ product.

Consumers would most likely treat personal computers as ____ products.

Fazoli's restaurant purchased two large ovens for its kitchen.These ovens are an example of which type of business product?

Which business product classification is most appropriate for the wire used inside a stereo system?

A consumer product for which buyers will not accept a substitute,for which purchasers do not compare alternatives,and that is purchased infrequently and with extra effort on the buyer's part is a ____ product.

Consumer products can be divided into the following three categories:

Which of the following is an example of a raw material that would be used in the production of a physical product?

Energizer batteries are sold in multipacks to make it more convenient for the consumer,who usually needs more than one battery at a time.Energizer batteries would be classified as a ____ product.