Marketing Quiz

_______________ is the number of product lines an organization offers.

• A product item

• The product mix

• The product mix width

• The product line depth

Which of the following is the function of packaging?

• Containing and protecting products

• Promoting products

• Facilitating storage and recycling

• All of the above

One of the functions of universal product codes (UPCs) is to:

• Allow products to be modified for improved sales.

• Help customers resell products that have no market value.

• Increase customer loyalty and brand value of a product.

• Help retailers track and record customer purchases.

When developing a new product, which is true of a new-product development strategy?

• It refrains from adopting ideas suggested by customers and competitors.

• It doesn’t provide the general guidelines for new-product ideas.

• It must be compatible with the objectives of the marketing department, the business unit, and the corporation.

• It involves targeting existing products at new markets.

Besides its high cost, what is the other possible problem that test marketing is likely to face?

• The actions of competitors countering the test market may contribute to normalizing conditions that the testing firm might expect in the market.

• The product’s success may present a threat to other product extensions recently introduced by the company and thus spread its customers thin.

• It exposes the new product and its marketing mix to competitors before its introduction. Thus, the element of surprise is lost.

• Consumers may perceive the sales promotion, pricing, or advertising campaign as overzealous hard sell or even unfair trade practices

Which of the following is the most important factor in successful new-product introduction?

• The features of the new product should be similar to its substitutes in the market.

• The product should not be developed using crowdsourcing.

• The new product should be priced lower than the other products in the same category.

• The new product should deliver a meaningful and perceivable benefit to a sizable number of people.

Chelsea runs a stock market consultancy firm. The firm advises its clients on where to invest and how to earn maximum profits. Given this information, Chelsea provides _____ through the consultancy firm.

• a service
• concepts

• branding

• profits

According to the gap model of service quality, the gap between what customers want and what management thinks customers want results from

• a lack of understanding or a misrepresentation of the customers’ needs, wants, or desires.

• management’s inability to translate customers’ needs into delivery systems within the firm.

• the inability of management and employees to do what should be done.

• misleading or deceptive advertising campaigns promising more than the firm can deliver.

Which statement describes a distribution strategy of a service organization?

• The intensity of distribution should exceed the target market’s needs and preferences.

• Having too many outlets to distribute products may boost costs unnecessarily.

• The location of a service does not influence the distribution strategy of a time-dependent service provider.

• Because services are intangible, many service firms choose indirect distribution strategies.

Which of the following statements is true of a bundled price?

• It is simpler for a firm to administer than pricing each element separately.

• It is preferable when consumers are willing to pay “extra” for every part of the service.

• It is a pricing strategy where customers pay only for the service elements they use.

  
  

• It is a pricing strategy that does not apply to services.