BOSS 11 chapter 5 wks 2

Over the past 50 years, the U.S. market has changed from being a consumer-driven market to being a product-driven market. a. True b. False

• True

• False

The marketing concept can give small businesses an advantage over larger businesses. a. True b. False

• True

• False

The product mix often includes items of convenience for customers even though those products may not be profitable. a. True b. False

• True

• False

For many businesses, a small percentage of their product mix often makes up the majority of the sales revenue. a. True b. False

• True

• False

Not every product has features. a. True b. False

• True

• False

Product features include such things as color, size, quality, warranties, delivery, and installation. a. True b. False

• True

• False

The brand is the name, symbol, or design used to identify your product. a. True b. False

• True

• False

Products within the same category, such as cars, are positioned in the market to serve different customer needs. a. True b. False

• True

• False

Examining the competition's positioning strategy can help you determine the best positioning strategy for your target market. a. True b. False

• True

• False

Companies that use the marketing concept will a. focus on product features more than on consumer needs. b. select a product mix that will most appeal to their target market. c. make sure that all products and services they offer are profitable. d. all of these

• a. focus on product features more than on consumer needs.

• b. select a product mix that will most appeal to their target market.

• c. make sure that all products and services they offer are profitable.

• d. all of these