Reference no: EM133481074

Questions

1. Which statement best describes a business product?

a) It is a product bought to satisfy an individual's personal needs.

b) It is a product loved by everyone.

c) It is a product used to manufacture other goods and services.

d) It is a product sold to customers.

2. Dylan stopped at Home Depot to buy a new snow blower. While he was paying for his purchase, he noticed a display on the checkout counter for a small can of WD-40 lubricant on sale that he immediately purchased. In this scenario, what type of product is the WD-40?

a) business product

b) specialty product

c) shopping product

d) convenience product

3. In product labelling, labels that contain promotional claims like "new," "improved," and "super" are called:

a) persuasive

b) informational

c) descriptive

d) repositioning

4. What is the term for the part of the brand that can be spoken?

a) brand name

b) trademark

c) service mark

d) brand equity

5. Which of the following aligns with the thought that marketing to your repeat customers is far more profitable than trying to persuade first-time customers to buy your product?

a) data manipulation

b) customer segmentation

c) predictive modelling

d) lifetime value analysis

6. A product line is a group of products that are closely related for which of the following reasons?

a) Products share the same product managers.

b) Products are all sold under the same brand name.

c) Products all function in a similar manner and provide similar benefits.

d) The same company developed the idea for each product.

7. What statement best describes a product modification?

a) lowering the price of textbooks

b) changing the colour of a laundry detergent

c) changing the amount of management time spent overseeing production

d) dropping a product from the product line

8. What is the process for finding hidden patterns and relationships with consumer data in a data warehouse?

a) data mining

b) customer information management

c) data feedback

d) information retrieval

9. Which statement is a crucial part of the convenience product marketing strategy?

a) higher than ordinary prices

b) few retail outlets other than convenience stores

c) wide distribution of the product

d) significantly lower promotion budgets

10. Loblaws has rolled out its PC brand Decadent Chocolate Chip Cookie Vanilla Ice Cream Sandwiches. Since Loblaws owns the PC brand, this is an example of which type of brand?

a) family brand

b) master brand

c) private brand

d) manufacturers' brand