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BA MIDTERM > MODULE 8 > Flashcards

MODULE 8 Flashcards

1
Q

Which class of consumer products are purchased very often?

Multiple choice question.

Unsought

Convenience

Specialty

Shopping

A

Convenience

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2
Q

Which type of innovation involves the production of a completely new product that radically changes how people live?

Multiple choice question.

Continuous innovation

Discontinuous innovation

Circular innovation

Dynamically continuous innovation

A

Discontinuous innovation

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3
Q

From the following list, select all of the components of the total product offering.

Multiple select question.

Maker’s reputation

Price

The maker’s internal financial documents

Packaging

A

Maker’s reputation

Price

Packaging

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4
Q

What is a total product offering?

Multiple choice question.

The unique name, symbol, or design that identifies a product

All the features that potential buyers evaluate in a product.

The process of creating products that stand out as different from competitors

The covering or wrapping that protects and promotes a product

A

All the features that potential buyers evaluate in a product.

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5
Q

Which of these is an example of a purchaser of B2C products?

Multiple choice question.

A coffee shop

A web development firm

The Jones household

A factory

A

The Jones household

Reason: Correct. Individuals and households purchase B2C (business-to-consumer) products.

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6
Q

The business-to- (BLANK)
market consists of all those individuals or households that want goods or services for their personal use.

A

consumer

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7
Q

What class of consumer products are purchased frequently and easily?

Multiple choice question.

Shopping

Convenience

Unsought

Specialty

A

Convenience

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8
Q

Which of these markets consists of industrial goods and services?

Multiple choice question.

Market segment

Consumer

Unsought products and services

Business

A

Business

correct
Reason: Correct. Business markets sell products to customers who will use the product for resale, directly use them in daily operations, or directly use them in making other products. It consists of industrial goods and services.

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9
Q

A hallmark of the ______ class of consumer products is that they are purchased after consumers make comparisons.

Multiple choice question.

Convenience

Shopping

Specialty

Unsought

A

Shopping

Reason: Correct. A hallmark of the shopping class of consumer products is that consumers make comparisons before purchasing them.

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10
Q

Which class of consumer products require consumers to go out of their way to buy them?

Multiple choice question.

Shopping

Unsought

Convenience

Specialty

A

Specialty

Reason: Correct. The specialty class of consumer products require special efforts from consumers.

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11
Q

Which class of consumer products are purchased only once consumers discover that they need them?

Multiple choice question.

Unsought

Shopping

Convenience

Specialty

A

Unsought

correct
Reason: Correct. The unsought class of consumer products are ones that consumers were unaware of or did not think they needed until an event triggers the need.

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12
Q

What is an example of the convenience class of consumer products?

Multiple choice question.

A bottle of water

A T-shirt

Home insurance

Binoculars

A

A bottle of water

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13
Q

What is an example of the shopping class of consumer products?

Multiple choice question.

A dress for prom

Gasoline when the tank is empty

Legal advice after a car accident

A pair of sandals to wear in the summer

A

A pair of sandals to wear in the summer

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14
Q

What is an example of the specialty class of consumer products?

Multiple choice question.

Tools for fixing a typewriter

A new car after your old one was totaled

Socks

Soda on a hot day

A

Tools for fixing a typewriter

correct
Reason: Correct. This is a specialty class of consumer products. The buyer has to go out of their way to purchase such items.

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15
Q

Which of these is an example of a purchaser of B2C products?

Multiple choice question.

The Jones household

A factory

A web development firm

A coffee shop

A

The Jones household

correct
Reason: Correct. Individuals and households purchase B2C (business-to-consumer) products.

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16
Q

Tony’s car tire went flat. Although he had a spare tire, he did not know how to change the tire. He decides to enroll in a course offered by his mechanic that teaches people how to change their tires. What kind of class of consumer products is the course?

Multiple choice question.

Shopping

Specialty

Unsought

Convenience

A

Unsought

correct
Reason: Correct. Tony decided to take the course after a triggering event (his flat tire).

17
Q

Which business products are usually purchased only rarely?

Multiple choice question.

Accessory equipment

Capital items

Supplies

Process materials

A

Capital items

correct
Reason: Correct. Capital items require a major expenditure of capital (or money). Because they are so expensive, they are likely purchased rarely.

18
Q

Select all of the reasons why innovation occurs.

Multiple select question.

Product obsolescence

Frequent failure of new products

Long development time

Lack of competition

A

Product obsolescence

correct
Reason: This answer should be selected. Product obsolescence is one of the three reasons innovation occurs.

Frequent failure of new products

correct
Reason: This answer should be selected. Frequent failure of new products is one of the three reasons innovation occurs.

Long development time

correct
Reason: This answer should be selected. Long development time is one of the three reasons innovation occurs.

19
Q

What is a true statement about the shopping class of consumer products?

Multiple choice question.

Consumers purchase them only once they realize that they need them.

They are purchased after a triggering event.

Consumers go out of their way to purchase them.

Consumers compare products before they make a purchase.

A

Consumers compare products before they make a purchase.

20
Q

Which class of consumer products require consumers to go out of their way to buy them?

Multiple choice question.

Unsought

Convenience

Shopping

Specialty

A

Specialty

21
Q

A product that customers see as being newer or better than existing products is known as a(n) (BLANK)
.

A

Innovation

22
Q

Fax machines, VCRs, and floppy disks are now considered part of which category of product?

Multiple choice question.

Innovative

High-demand

Obsolete

Growing

A

Obsolete

correct
Reason: Correct. Each of these products has been replaced with newer, more capable products.

BA MIDTERM (1 decks)

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