Chapter 12 Review :)

A product may be a good, a service, or an idea.

• True

• False

New products are often immediate successes.

• True

• False

Everything that one receives in an exchange, including all tangible and intangible attributes and expected benefits, is called a...

• package

• contract

• trade

• product

A trademark is a brand name or brand mark that is registered with the U.S. Patent and Trademark Office and thus is legally protected from use by anyone except its owner.

• True

• False

A good or service that is intended primarily for personal or household use is called a(n) ____ product.

• Convenience

• Consumer

• Specialty

• Business

A branding strategy in which a firm uses the same brand for all or most of its products is called ____ branding.

• Producer

• Unity

• Family

• Individual

Consumer products can be divided into the following three categories:

• convenience, shopping, and business.

• shopping, convenience, and specialty.

• convenience, component, and accessory.

• shopping, component, and specialty.

All of the activities involved in developing and providing a container with graphics for a product are called...

• packaging

• advertising

• labeling

• parceling

There are two dimensions to a business's product mix: width and depth.

• True

• False

The three levels of brand loyalty are preference, recognition, and insistence.

• True

• False