Marketing Plan 401-450

When marketers focus on comparing their product versus a competitor's product; they

• should be concerned with total product offering AND look at the relative quality.
• formulate a SWOT analysis.
• should be concerned with total product offering.
• look at the relative quality.
• all of the answers listed

Answer explanation

should be concerned with total product offering AND look at the relative quality.

One would consider an intangible deed performed by one party for another party at a cost as a

• service.
• supply.
• good.
• perishable good.
• service AND perishable good.

Answer explanation

service.

Which of the following is NOT true about the three types of convenience products (staples, impulse products, and emergency products)?

• Customers shop extensively when purchasing these items.
• Staples are products which are bought routinely, without much thought.
• With impulse products, much of the buyer's behavior affects place utility.
• Emergency products are purchased when urgently needed.
• With staples, branding helps customers cut shopping efforts.

Answer explanation

Customers shop extensively when purchasing these items.

New product planning is becoming increasingly important in a modern economy because

• it is not always profitable JUST to sell "me-too" products.
• most profits go to innovators or fast companies that quickly copy products from other companies.
• the failure rate of new products is becoming increasingly low.
• every product must pass FTC laws to be bought and sold.
• all of the answers listed

Answer explanation

it is not always profitable JUST to sell "me-too" products.

A Capital item (a necessary element in setting price) is

• a building or toher type of major equipment AND long-lasting products that can be depreciated.
• office supplies purchased by the individuals.
• raw materials that become part of the physical good.
• long-lasting products that can be depreciated.
• a building or other type of major equipment.

Answer explanation

a building or toher type of major equipment AND long-lasting products that can be depreciated.

Which of the following are characteristics of a good brand name?

• Always timely (does not become out-of-date)
• Adaptable only to television media
• One that has no "jingle" to it
• Can not be remembered easily
• Makes labeling and packaging incompatible

Answer explanation

Always timely (does not become out-of-date)

Packaging is of important to marketers because

• new packages can make a difference in a new marketing strategy.
• it provides better shelf placement in grocery stores.
• packaging costs over 95% of a manufacturer's selling price.
• the Federal Packaging and Labeling Act hold restrictions on packaging sizes.
• labels are inaccurate, and no one reads them anyway.

Answer explanation

new packages can make a difference in a new marketing strategy.

What level of familiarity exists when a consumer buys paper clips for the office, and she/he does not notice the brand name of the product?

• Brand non-recognition
• Brand rejection
• Brand recognition
• Brand preference
• Brand insistence

Answer explanation

Brand non-recognition

Some customers feel that certain brands of refrigerators are very similar and have the same attributes. By shopping for the best price, or lowest price, what kinds of products are these?

• Homogeneous products
• Specialty products
• Heterogeneous products
• Convenience products
• Regularly-sought products

Answer explanation

Homogeneous products

A company that needs to buy cushioning protection for their porcelain figurines for shipping had only two alternatives in the past. The company could either buy plastic air bubble sheets or styrene peanuts from various firms. Recently, the company became aware of Renature--a new (2 months in production), one-hundred percent biodegradable, protective cushioning product. Renature was listed in the Federal Trade Commission report as being solely produced by a German firm named Storopack. In product testing, Renature was found to be quite pleasing to a growing number of environmentally-conscious consumers. The company decided to use Renature. In general, in what part of the product life cycle would Renature be placed?

• Market introduction
• Market growth
• Market maturity
• Market awareness
• Sales decline

Answer explanation

Market introduction