BA 332: Exam 21. New product ideas can come from ________.a. Internal sources, using company R&Db. External sources, listening to distributers and suppliersc. External sources, watching and listening to customersd. Both A and Ce. All of the above are sources of new product ideas2. Frequent purchases, little planning, low customer involvement, low prices, widespreaddistribution and convenient locations are characteristics of _____.a. Shopping productsb. Convenience productsc. Unsought goodsd. Specialty products3. A product’s _____ is the place the product occupies in customers’ minds relative to competing products.a. Life-cycle stageb. Locationc. Positioningd. Distribution4. Coors has labels on their beer bottles that turn blue when the beer is at the optimal drinkingtemperature. This is an example of ________.a. Co-brandingb. Multi-brandingc. Line extensiond. Brand extensione. None of the above is correct5. If a consumer buys a passenger can for driving his/her children to and from school, the passenger can is a(n) _____. If the same customer buys the passenger van to operate an airport shuttle service, the passenger can is a (n) ____.a. Sought good, consumer productb. Unsought good, industrial productc. Industrial product, consumer productd. Consumer product, industrial product6. All of the following are accurate descriptions of conditions necessary for market-skimming pricing strategy to work, except which ones?a. Production and distribution costs must fall as sales volume increase.b. Competitors should not be able to enter the market easily and undercut the high price.c. The products quality and image must support its higher priced. Enough buyers must want the product at that high price.7. During which stage of the consumer purchase decision process is a buyer most likely to experience cognitive dissonance?a. Purchase decisionb. Adoptionc. Post-purchase behaviord. Need recognition8. As was discussed in class, an example of an industry that typically practices a “product qualityleadership strategy when it comes to setting prices is:a. A banking industryb. The airline industryc. The computer industryd. The pharmaceutical industry9. Dr. Moon gave an example of class of V-8 soup. This example was meant to illustrate:a. Line extensionsb. Licensed brandsc. Private brandsd. Brand extensions10. _______ Divides the market into groups based on variable such as age, gender, family size, family life cycle, income, occupations, education, religion, race, generation, nationality.a. Psychographic segmentationb. Demographic segmentationc. Geographic segmentationd. Behavioral segmentation11. Dr. Moon emphatically stated in class that THE most strategically important set of decisions that a marketer has to make are:a. Product quality decisions—the choice about what level of what level of quality should beengineered into our products to best satisfy our target customers.b. market research decision – the choice about how many resources should be invested in strategies for learning about customersc. portfolio decisions – the about which SBU’s should receive additional investment and which should be phased outd. segmentation, targeting, and positioning decisions – the choice of who a company’s customers should be, and what those customers should think about when they think about the company’s products or brandse. while all of these are important Dr. Moon didn’t say that one of them was more strategically important for marketers than the others12. All of the following are accurate statements about demand curves exceptwhich one?a. Demand curves inelastic products have a different shape than demand curves for elastic productsb. demand curves are a representation of the relationship between the price of a product and the quantity of the product that will be demandedc. demand curves are always downward slopingd. all of the above are accurate descriptions of demand curvesAnswer Key:1. D2. B3. C4. E5. D6. A7. C8. D9. D10. B11. D12.
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