Most products are established at one of four performance levels: low, average, high or superior. For example, mountain bikes come in a variety of sizes and physical attributes. When a consumer purchases a mountain bike costing $1,000 she/he expects the bike to perform to specifications and to have a high _________ meeting the promised specifications.

Most products are established at one of four performance levels: low, average, high or superior. For example, mountain bikes come in a variety of sizes and physical attributes. When a consumer purchases a mountain bike costing $1,000 she/he expects the bike to perform to specifications and to have a high _________ meeting the promised specifications. 

a. features
b. durability
c. conformance quality
d. performance quality
e. reliability


Answer: d. performance quality

_______ are major purchases and are usually bought directly from the producer with the typical sale preceded by long negotiation periods.

_______ are major purchases and are usually bought directly from the producer with the typical sale preceded by long negotiation periods. 

a. Raw materials
b. Materials and parts
c. Business services
d. Capital goods
e. Installations


Answer: e. Installations

The seller of ________ goods carry a wide assortment to satisfy individual tastes and must have well-trained salespeople to inform and advise customers. Examples include automobile dealers, furniture stores, and insurance services.

The seller of ________ goods carry a wide assortment to satisfy individual tastes and must have well-trained salespeople to inform and advise customers. Examples include automobile dealers, furniture stores, and insurance services. 

a. unsought shopping goods
b. specialty shopping goods
c. homogeneous shopping goods
d. heterogeneous shopping goods
e. none of the above


Answer: d. heterogeneous shopping goods

How a consumer shops for organic foods and how they use and dispose of the product is part of the consumers _________ that is important for marketers to consider.

How a consumer shops for organic foods and how they use and dispose of the product is part of the consumers _________ that is important for marketers to consider. 

a. basic product system.
b. customer value system
c. potential system
d. consumption system
e. none of the above


Answer: d. consumption system

Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he/she expects the shoes to cover his/her feet and allow them to walk unobstructed. This is an example of what level in the consumer value hierarchy?

Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he/she expects the shoes to cover his/her feet and allow them to walk unobstructed. This is an example of what level in the consumer value hierarchy?

a. Pure tangible good
b. Basic product
c. Augmented product
d. Potential product
e. Consumption system


Answer: b. Basic product

Buyers expect products to have a high ________, which is the degree to which all the produced units are identical and meet the promised specifications.

Buyers expect products to have a high ________, which is the degree to which all the produced units are identical and meet the promised specifications. 

a. durability
b. reliability
c. conformance quality
d. form
e. performance quality


Answer: c. conformance quality

In today's rapidly changing product markets, modernization of the product line is continuous. Companies plan improvements to encourage customer migration to ________.

In today's rapidly changing product markets, modernization of the product line is continuous. Companies plan improvements to encourage customer migration to ________. 

a. higher markup products
b. higher margin items
c. lower-price, lower-value
d. high-priced, high-valued
e. none of the above


Answer: d. high-priced, high-valued

Guarantees are most effective in two situations. The first is when the company or products are not well known and the second is when the product's quality is ________ to competition.

Guarantees are most effective in two situations. The first is when the company or products are not well known and the second is when the product's quality is ________ to competition.

a. not known
b. different
c. inferior
d. equivalent
e. superior


Answer: e. superior

Many sellers offer either general or specific guarantees. Guarantees reduce the buyer's ________ risk.

Many sellers offer either general or specific guarantees. Guarantees reduce the buyer's ________ risk. 

a. actual
b. perceived
c. real
d. implied
e. stated


Answer: b. perceived

______ are formal statements of expected product performance by the manufacturer.

______ are formal statements of expected product performance by the manufacturer. 

a. Insurance
b. Warranties
c. Guarantees
d. Reputation
e. Marketing statements


Answer: b. Warranties

The ________ passed by Congress in 1967, sets mandatory labeling requirements on packaging.

The ________ passed by Congress in 1967, sets mandatory labeling requirements on packaging. 

a. Federal Trade Commission Act
b. Fair Trade Act
c. Fair Packaging and Labeling Act
d. Food and Drug Administration Act
e. none of the above


Answer: c. Fair Packaging and Labeling Act

A label performs several functions for a product. These include all of the following EXCEPT ________.

A label performs several functions for a product. These include all of the following EXCEPT ________. 

a. grades
b. promotes
c. describes
d. classifies
e. identifies


Answer: d. classifies

After packaging is designed, it must be tested. These tests include all of the following EXCEPT ________.

After packaging is designed, it must be tested. These tests include all of the following EXCEPT ________. 

a. stress testing
b. consumer testing
c. engineering tests
d. dealers testing
e. visual testing


Answer: a. stress testing

To achieve the marketing objectives for the brand and satisfy the desires of consumers, the ________ and functional components of packaging must be chosen correctly.

To achieve the marketing objectives for the brand and satisfy the desires of consumers, the ________ and functional components of packaging must be chosen correctly. 

a. characters
b. logo
c. aesthetics
d. brand name
e. colors


Answer: c. aesthetics

Various factors have contributed to the growing use of packaging as a marketing tool and include all of the following EXCEPT ________.

Various factors have contributed to the growing use of packaging as a marketing tool and include all of the following EXCEPT ________. 

a. self-service
b. consumer affluence
c. consumer influence
d. company and brand images
e. innovational opportunities


Answer: c. consumer influence

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and ________.

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and ________. 

a. natural products
b. component materials
c. operating supplies
d. equipment
e. none of the above


Answer: d. equipment

Materials and parts are goods that enter the manufacturer's product completely. They fall into two classes: ________, and natural products.

Materials and parts are goods that enter the manufacturer's product completely. They fall into two classes: ________, and natural products. 

a. component parts
b. raw materials
c. farm products
d. component materials
e. none of the above


Answer: b. raw materials

Industrial-goods can be classified in terms of how they enter the production process and their relative costliness. We can distinguish three groups of industrial goods: ________, capital items, and suppliers and business services.

Industrial-goods can be classified in terms of how they enter the production process and their relative costliness. We can distinguish three groups of industrial goods: ________, capital items, and suppliers and business services. 

a. service components
b. sub-assemblies
c. pieces and parts
d. specialty goods
e. materials and parts


Answer: e. materials and parts

Examples of products such as insurance, cemetery plots, and smoke detectors, are examples of ________ that are products that the consumer does not know about or does not normally think of buying.

Examples of products such as insurance, cemetery plots, and smoke detectors, are examples of ________ that are products that the consumer does not know about or does not normally think of buying. 

a. specialty goods
b. unsought goods
c. heterogeneous shopping goods
d. homogeneous shopping goods
e. none of the above


Answer: b. unsought goods

______ are similar in quality but different enough in price to justify shopping comparisons.

______ are similar in quality but different enough in price to justify shopping comparisons. 

a. Emergency goods
b. Homogeneous shopping goods
c. Heterogeneous shopping goods
d. Specialty goods
e. None of the above


Answer: b. Homogeneous shopping goods