EPPM2073 - Chapter 11

In terms of the goods-services continuum, a physician's examination is a pure:

• good.

• mix of goods and services.

• bundle of attributes.

• service.

In terms of goods and services classifications, floor carpeting should be considered:

• essentially a consumer product.

• essentially a business product.

• a mix of product and service attributes.

• both a consumer product and a business product.

Providers cannot maintain inventories of their services, leading them to vary prices according to demand. For example, most hotels charge more for lodging during holiday seasons than at other times of the year. This distinguishing characteristic of services is known as:

• standardization.

• intangibility.

• inseparability.

• perishability.

What name is sometimes given to committees within a firm who are responsible for developing new products?

• Venture team

• Category team

• Horizons team

• Prospective product team

The golden arches affiliated with McDonald's restaurants are example of a:

• brand mark.

• brand name.

• trade name.

• differentiating symbol.

Which of the following is an example of an impulse good?

• Candy bar

• Toothpaste

• Laundry detergent

• Umbrella

Staples are _______ products that consumers constantly ________.

• emergency, value

• household, seek

• inexpensive, compare

• convenience, replenish

The most important feature of specialty products is the ______ that cause(s) consumers to prize those particular brands.

• high price

• effective advertising

• unique characteristics

• substitutability

In terms of business product classifications, installations are the equivalent of _______ products.

• service

• specialty

• capital

• organizational

When an ice cream manufacturer purchases Reese's Pieces and Hershey's Kisses in commercial sizes to mix into the final form of its product, the candies are classified as:

• component materials.

• MRO items.

• raw materials.

• supplies.