Question 1

Most people under the age of 25 have a strong belief in their own personal invincibility.An insurance agency targeting this group for life insurance would find this market segment categorizes the insurance as what type of product?
A) heterogeneous shopping
B) relationship
C) unsought
D) exclusive

Accepted Answer

Life insurance is typically viewed as an unsought product, meaning it is not something that consumers actively seek out to purchase, but rather something that they may consider buying if prompted or presented with the opportunity. Additionally, younger consumers may not see the immediate need for life insurance, as they may feel invincible and not yet have dependents or significant financial obligations that would make life insurance a priority.

Question 2

Which of the following consists of all of a company's product lines and items?
A) the marketing mix
B) the product offering
C) the product mix
D) the brand line

Accepted Answer

The term that refers to all of a company's product lines and items is the product mix. The marketing mix refers to the combination of product, price, promotion, and place (distribution) that a company uses to satisfy a target market. The product offering is the specific product or service being offered by a company. The brand line refers to a group of products within a brand that are closely related in product line, features, and price range.

Question 3

Comparisons between products are often quite difficult because they may have unique features and different levels of quality and price.These types of product are seen by consumers to differ in quality,style,suitability,and lifestyle compatibility.What products are they?
A) heterogeneous shopping products
B) comparative convenience products
C) product equivalents
D) homogeneous shopping products

Accepted Answer

Heterogeneous shopping products are products that are perceived by consumers to differ in quality, style, suitability, and lifestyle compatibility, making comparisons between them difficult. These products are typically expensive and purchased infrequently, such as cars, furniture, and electronics. Comparative convenience products, on the other hand, are products that are similar in quality and function, but may differ in price, such as different brands of toothpaste or laundry detergent. Product equivalents are products that are identical or nearly identical in function and quality, such as generic brands of medication. Homogeneous shopping products are products that are similar in quality and style, such as clothing or shoes, and are typically purchased more frequently than heterogeneous shopping products.

Question 4

The most expensive refrigerator in the world is the Sub-Zero brand.Many consumers believe it to be the best brand made.For people who insist on having the best kitchen money can buy and will accept no less,the Sub-Zero refrigerator is an example of what kind of product?
A) heterogeneous shopping
B) specialty
C) convenience
D) exclusive

Accepted Answer

The Sub-Zero refrigerator is an example of a specialty product. Specialty products are those that consumers insist on having and are willing to pay a premium price for. They have unique characteristics and attributes that set them apart from other products and are often associated with high quality, exclusivity, and prestige.

Question 5

Which products are not known about or not actively searched for by consumers,and require aggressive personal selling and highly persuasive advertising?
A) unsought
B) shopping
C) specialty
D) hidden

Accepted Answer

Unsought products are those that consumers do not actively seek out or know about. These products generally require aggressive personal selling and persuasive advertising to create demand and generate sales. Examples of unsought products include funeral services, insurance policies, and blood donation.

Question 6

When deciding on distribution plans for specialty products,what do companies generally ensure?
A) that the items are made available only through the mail
B) that the items are distributed to a considerable number of stores in a geographic area
C) that the items are made available in a large number of stores in a geographic area
D) that the items are distributed to only a few stores in the geographic area

Accepted Answer

Specialty products are often distributed to only a few stores in a geographic area to maintain exclusivity and control over the brand's image and customer experience.

Question 7

How is product mix width defined?
A) the number of different product categories found within an industry
B) the number of different product lines an organization offers for sale
C) the average number of products offered by the company
D) the average number of products within each product line in the company

Accepted Answer

Product mix width refers to the number of different product lines an organization offers. It's a measure of the variety of distinct categories of products that a company has available for customers.

Question 8

When Ruby wanted new window treatments for her living room,she visited both Home Depot and Rona home-improvement stores,as well as three interior design stores before selecting drapes.If Ruby represents a typical window treatment buyer,what are drapes?
A) an operating supply good
B) an heterogeneous shopping good
C) a homogeneous luxury product
D) a shopping specialty good

Accepted Answer

Drapes are considered a heterogeneous shopping good because Ruby visited multiple stores to compare quality, style, and prices before making a selection, indicating that drapes are seen as items for which consumers are willing to expend effort to compare across different sellers to find the best match for their preferences.

Question 9

Crystal decided to add bicycling accessories,such as shoes,backpacks,and cycle repair kits,to her exclusive bicycle retail shop.What is Crystal adjusting?
A) the quality modification
B) the width of her product mix
C) the scope of her product mix
D) the depth of her product mix

Accepted Answer

By adding bicycling accessories like shoes, backpacks, and cycle repair kits to her exclusive bicycle retail shop, Crystal is expanding the variety of product categories she offers, which is referred to as increasing the width of her product mix. This means she is adding more types or categories of products to her lineup, rather than adding more variations of the same product (which would increase the depth).

Question 10

Ocean Spray manufactures Cranberry Juice Cocktails.The addition of Light Cranberry Juice Cocktails is a way that Ocean Spray can expand which of the following?
A) its product mix width
B) its product mix depth
C) its product line width
D) its product line depth

Accepted Answer

Product line depth refers to the number of variations within a product line. The addition of Light Cranberry Juice Cocktails expands the range of products within the Cranberry Juice Cocktail product line, thus increasing the product line depth.

Question 11

Norman was spending "quality time" with his grandson Danny who was eagerly reading the BMW automobile website featuring the 400 horsepower M3 model.Norman remarked that he would have no use for that kind of power and performance but "in his youth" things would have been different.As far as Danny's grandfather is concerned,what would a BMW M3 be?
A) an unsought good
B) a shopping good
C) a niche good
D) a specialty good

Accepted Answer

In his current stage of life, Norman sees the BMW M3 as an unsought good because he has no interest or need for such a high-performance vehicle.

Question 12

Irwin was initially excited about his new career sales rep position with Forever Memorials.He soon began to recognize,however,that his work was really cut out for him.Selling tombstones (memorials or monuments)was tough work.What category of product was Irwin selling?
A) shopping
B) unsought
C) specialty
D) convenience

Accepted Answer

Tombstones, or memorials, are considered unsought goods because they are products that consumers do not think about buying until they are needed, often due to specific circumstances such as a death. These items are not purchased on impulse or with much enthusiasm but out of necessity.

Question 13

Craig had just received a promotion as product manager for a consumer goods manufacturer.To celebrate,he told Tracey that he was going to buy a bottle of Chateau Margeaux,an expensive red French wine,for them to share.After driving to two liquor outlets but not finding his Margeaux,Tracey suggested that they just buy a bottle of French champagne instead.But Craig insisted that they try a third store on the other side of the city.For Craig,what is Chateau Margeaux?
A) a specialty good
B) a homogeneous shopping good
C) an inconvenience good
D) a heterogeneous shopping good

Accepted Answer

Chateau Margeaux is an expensive and rare French wine, which indicates that it is a specialty good. It is not something that can be easily found in regular stores and requires more effort to search for.

Question 14

Which of the following products are searched for extensively and may be quite expensive,substitutes are not acceptable,and distribution may be limited?
A) exclusive shopping
B) heterogeneous convenience
C) branded shopping
D) specialty

Accepted Answer

Specialty products fit the description because they are often unique, rare, or have special features that cannot be easily substituted. As a result, consumers are willing to pay a high price for them, and distribution may be limited because they are only available in select locations.

Question 15

Which of the following products is most likely to be considered an example of a heterogeneous shopping product?
A) a stapler
B) an off-campus apartment
C) a package of pencils
D) a flea collar

Accepted Answer

An off-campus apartment is most likely to be considered an example of a heterogeneous shopping product because it varies in terms of location, size, and amenities. It also requires a significant amount of research and consideration before making a purchase decision, unlike the other options which are more straightforward and can be easily compared.

Question 16

Typically,what are unsought products?
A) products that require little or no decision making by the buyer
B) products that consumers purchase when they see them in a convenient location
C) products that require only reminder advertising to be successful
D) products that consumers don't know about or don't actively look for

Accepted Answer

Unsought products are those products that consumers do not actively seek out or know about. This includes products like funeral services, insurance, or emergency supplies.

Question 17

Horace has wanted to purchase a Rolex watch ever since he saw his first one at age 18.He has done extensive research into the history of Rolex.Finally,at age 55,he has achieved the income level to be able to purchase one.For Horace,the Rolex watch is an example of what type of product?
A) unsought
B) specialty
C) business
D) consumer

Accepted Answer

A specialty product is a unique or high-end item that is often associated with a specific brand, and the purchase decision is driven by strong brand loyalty and a desire for quality or luxury. Horace's long-standing desire for a Rolex watch and his extensive research into the brand's history indicate a strong brand loyalty, making the watch a specialty product for him.

Question 18

A product line is a group of products that are closely related because of which of the following?
A) The products are all sold under the same brand name.
B) The products all function in a similar manner and provide similar benefits.
C) The same company developed the idea for each product.
D) The products share the same product managers.

Accepted Answer

A product line refers to a group of products that serve similar purposes and have similar characteristics, such as function or benefit. Therefore, choice B is the correct answer. While a product line may share a brand name, company, or product managers, these factors alone do not define a product line.

Question 19

The large variety of frozen dinners marketed by Stouffer is an example of which of the following for Stouffer?
A) a product mix
B) a product line
C) a marketing mix
D) a mix consistency

Accepted Answer

A product line refers to a group of products that are closely related and marketed under a single brand name. In this case, Stouffer has a large variety of frozen dinners, which can be considered a product line within their overall product mix. The marketing mix refers to the various elements (product, price, promotion, and place) that a company uses to market its products. Mix consistency is not a commonly recognized term in marketing.

Question 20

Genette's daughter often suffers from earaches and must take an antibiotic.Genette hates the fact the antibiotic prescribed must be taken for 10 days and has an unpleasant taste.Genette does not know that she can ask her doctor for a new antibiotic called Zithromax that works when taken for only five days and that has a pleasant cherry flavour.For Genette,what type of product is Zithromax because she doesn't know it exists?
A) convenience
B) heterogeneous shopping
C) unsought
D) exclusive

Accepted Answer

Zithromax is considered an unsought product because Genette did not know it existed and therefore was not actively seeking it out.

Quiz 8: Product Concepts

Most people under the age of 25 have a strong belief in their own personal invincibility.An insurance agency targeting this group for life insurance would find this market segment categorizes the insurance as what type of product?

Which of the following consists of all of a company's product lines and items?

Comparisons between products are often quite difficult because they may have unique features and different levels of quality and price.These types of product are seen by consumers to differ in quality,style,suitability,and lifestyle compatibility.What products are they?

The most expensive refrigerator in the world is the Sub-Zero brand.Many consumers believe it to be the best brand made.For people who insist on having the best kitchen money can buy and will accept no less,the Sub-Zero refrigerator is an example of what kind of product?

Which products are not known about or not actively searched for by consumers,and require aggressive personal selling and highly persuasive advertising?

When deciding on distribution plans for specialty products,what do companies generally ensure?

How is product mix width defined?

When Ruby wanted new window treatments for her living room,she visited both Home Depot and Rona home-improvement stores,as well as three interior design stores before selecting drapes.If Ruby represents a typical window treatment buyer,what are drapes?

Crystal decided to add bicycling accessories,such as shoes,backpacks,and cycle repair kits,to her exclusive bicycle retail shop.What is Crystal adjusting?

Ocean Spray manufactures Cranberry Juice Cocktails.The addition of Light Cranberry Juice Cocktails is a way that Ocean Spray can expand which of the following?

Irwin was initially excited about his new career sales rep position with Forever Memorials.He soon began to recognize,however,that his work was really cut out for him.Selling tombstones (memorials or monuments) was tough work.What category of product was Irwin selling?

Which of the following products are searched for extensively and may be quite expensive,substitutes are not acceptable,and distribution may be limited?

Which of the following products is most likely to be considered an example of a heterogeneous shopping product?

Typically,what are unsought products?

Horace has wanted to purchase a Rolex watch ever since he saw his first one at age 18.He has done extensive research into the history of Rolex.Finally,at age 55,he has achieved the income level to be able to purchase one.For Horace,the Rolex watch is an example of what type of product?

A product line is a group of products that are closely related because of which of the following?

The large variety of frozen dinners marketed by Stouffer is an example of which of the following for Stouffer?