AES Pricing, Promotion, and Distribution Test Review

What is a product?

• Something for sale that you can touch

• The container or wrapping for an item

• Anything offered to a market that might satisfy a want or need

• Something for sale that cannot be touched

Which of these statements describes Time utility?

• Put a product where it is convenient for a customer to purchase it

• Provide the customer with more knowledge about the product

• Change a raw material or assemble parts to make a product

• Offer a product just as the need for it arises

What is the term that refers to a product's identity, as represented by its name and/or mark?

• Brand

• Generic

• Advertising

• Market segment

What is the difference between a customer and a consumer?

• A customer buys products, while a consumer uses products.

• A customer must be a business, while a consumer may be a private individual.

• A consumer buys a product either to resell it or make it into another product.

• A customer buys specialty products, while a consumer buys convenience products.

Which of these products are goods?

• New tires

• Taxi ride

• Car repair

• All of the above

What is the main factor to consider when classifying products?

• The facility where the product is made

• Why the product is being purchased

• How long it takes to make the product

Which of these market segments include both psychographic and behavioral factors?

• Large businesses who have internal marketing departments

• Single men, 40 and under, who live in the Midwestern U.S.

• Amateur photographers who prefer first-rate equipment to capture quality images

• People between the ages of 16 and 30 who work at least part-time and are paid hourly

What is economic utility?

• Sending financial information via phone or cable

• Adding value to a product by making it more useful

• Saving money on a product through a discount program

• A type of marketing aimed toward financial institutions

What is the term for the path that the product follows from the producer to the customer?

• Channel of distribution

• Physical distribution

• Public relations

• Market share

At what stage of the product life cycle do sales start to grow at a slower pace, or even level off?

• Introduction

• Decline

• Growth

• Maturity