Product Concepts Quiz

What is the main purpose of branding?

• To contain and protect products

• To distinguish products from competitors

• To facilitate recycling and reduce environmental damage

• To promote products

What is the function of an express warranty?

• To facilitate storage, use, and convenience of products

• To provide a written guarantee regarding the condition of the product

• To guarantee that the product is fit for the purpose for which it was sold

• To protect the buyer and give essential information about the product

What is the purpose of a universal product code?

• To promote products

• To track products and prepare records of customer purchases

• To contain and protect products

• To facilitate recycling and reduce environmental damage

What is the difference between a manufacturer's brand and a private brand?

• A manufacturer's brand is owned by a wholesaler or retailer, while a private brand is the brand name of a manufacturer

• A manufacturer's brand is a brand name of a manufacturer, while a private brand is a brand name owned by a wholesaler or retailer

• A manufacturer's brand is a brand manufactured by a third party for an exclusive retailer, while a private brand is a brand name of a manufacturer

• A manufacturer's brand is a brand name owned by a manufacturer, while a private brand is a brand name owned by a wholesaler or retailer

What is the main purpose of packaging?

• To facilitate recycling and reduce environmental damage

• To promote products

• To contain and protect products

• To facilitate storage, use, and convenience of products

What is the function of informational labeling on a product?

• To protect the buyer and give essential information about the product

• To guarantee that the product is fit for the purpose for which it was sold

• To provide a written guarantee regarding the condition of the product

• To help consumers make proper product selections and lower their cognitive dissonance after the purchase

What is the purpose of co-branding?

• To place two or more brand names on a product or its package

• To guarantee that the product is fit for the purpose for which it was sold

• To distinguish products from competitors

• To facilitate storage, use, and convenience of products

What is the main benefit of minimizing an overextended product line?

• To concentrate resources on the most important products

• To attract buyers with different preferences

• To increase sales and profits by further segmenting the market

• To capitalize on economies of scale in production and marketing

What is the purpose of a trademark?

• To place two or more brand names on a product or its package

• To provide a written guarantee regarding the condition of the product

• To guarantee that the product is fit for the purpose for which it was sold

• To identify a seller’s products and differentiate them from competitors’ products

What is the main purpose of an implied warranty?

• To protect the buyer and give essential information about the product

• To guarantee that the product is fit for the purpose for which it was sold

• To provide a written guarantee regarding the condition of the product

• To help consumers make proper product selections and lower their cognitive dissonance after the purchase