BUS120 Final Review Chapter #14

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All the answer/questions of chapter 14

Which of the following is the best example of a product line

Kellogg offers Special K, Raison Bran, Corn Flakes, and a variety of other cold ready-to-eat cereals

A_____is a name, symbol, or design (or combination of these) that identifies the goods or services of one seller or froup of sellers and distinguishes them from those of competitors

brand

The best product development strategy for most firms is to

constantly monitor consumer wants and needs and be willing to develop new products and adapt policies and services as those consumer needs begin to change

The primary difference between retailers and wholesalers is that

retailers sell to final consumers, while wholsalers sell to other organizations, such as retailers or manufacturers

Which of the following statements provides the most accurate distinction between an agent and a broker? Agents

develop a long-term relationship with the people they represent, while brokers are usually hired on a temporary basis

A leading cause of new-product failure is

product promises that are not delivered

Which of the following are products consumers buy after comparing quality, price, and style from a variety of sellers

shopping goods

The procter and Gamble company is a major producer of bar soaps that all claim a variety of benefits. These products are part of Proctor & 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.

product line

A brand that has been given exclusive legal protection, such as the McDonald's golden arches is a

trademark

Patrick Bolger is convinced that his product idea has tremendous potential. He has decided to produce the product himself, but plans to use other firms who specialize in storing and transporting to help him move the product along its path to the final customer. These specialists Patrick uses will be part of his

channel of distribution

When consumers calculate the value of a product, they

look at the benifets the product provides then subtract the cost

Borden, Inc. makes pasta, dairy items, and adhesives. These different types of products are referred to as a Borden's

product mix

Which of the following statements regarding convenience goods and services is accurate?

Brand awareness and image are important in marketing these products

successful product differentiation

can be based on either real or perceived differences in products

the combination of product lines offered by a manufacturer is called the firm's

product mix

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?

product line

A(n)_____distribution strategy distributes a product through only a preferred group of retailers

selective

Marketing intermediaries

have survived because they can often perform marketing functions faster and at lower cost than producers

Taken togeter, all of the organizations that move goods from the sources of raw materials to ultimate consumers is known as a(n)

supply chain

the purpose of_____is to create real or perceived product differences

product differentiation

from the buyer's perspective, which of the following is a benefit of a product with a well known brand name

quality assurance

_____utility is usually provided by producers rather than marketers

form

Today packaging is

assuming an increasingly important role in the promotion of products

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