MODULE 8 Flashcards
Which class of consumer products are purchased very often?
Multiple choice question.
Unsought
Convenience
Specialty
Shopping
Convenience
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
Discontinuous innovation
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
Maker’s reputation
Price
Packaging
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
All the features that potential buyers evaluate in a product.
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
The Jones household
Reason: Correct. Individuals and households purchase B2C (business-to-consumer) products.
The business-to- (BLANK)
market consists of all those individuals or households that want goods or services for their personal use.
consumer
What class of consumer products are purchased frequently and easily?
Multiple choice question.
Shopping
Convenience
Unsought
Specialty
Convenience
Which of these markets consists of industrial goods and services?
Multiple choice question.
Market segment
Consumer
Unsought products and services
Business
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.
A hallmark of the ______ class of consumer products is that they are purchased after consumers make comparisons.
Multiple choice question.
Convenience
Shopping
Specialty
Unsought
Shopping
Reason: Correct. A hallmark of the shopping class of consumer products is that consumers make comparisons before purchasing them.
Which class of consumer products require consumers to go out of their way to buy them?
Multiple choice question.
Shopping
Unsought
Convenience
Specialty
Specialty
Reason: Correct. The specialty class of consumer products require special efforts from consumers.
Which class of consumer products are purchased only once consumers discover that they need them?
Multiple choice question.
Unsought
Shopping
Convenience
Specialty
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.
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 bottle of water
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 pair of sandals to wear in the summer
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
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.
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
The Jones household
correct
Reason: Correct. Individuals and households purchase B2C (business-to-consumer) products.
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
Unsought
correct
Reason: Correct. Tony decided to take the course after a triggering event (his flat tire).
Which business products are usually purchased only rarely?
Multiple choice question.
Accessory equipment
Capital items
Supplies
Process materials
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.
Select all of the reasons why innovation occurs.
Multiple select question.
Product obsolescence
Frequent failure of new products
Long development time
Lack of competition
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.
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.
Consumers compare products before they make a purchase.
Which class of consumer products require consumers to go out of their way to buy them?
Multiple choice question.
Unsought
Convenience
Shopping
Specialty
Specialty
A product that customers see as being newer or better than existing products is known as a(n) (BLANK)
.
Innovation
Fax machines, VCRs, and floppy disks are now considered part of which category of product?
Multiple choice question.
Innovative
High-demand
Obsolete
Growing
Obsolete
correct
Reason: Correct. Each of these products has been replaced with newer, more capable products.
