BUAD 332 EXAM 2 UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS (2)
Question:
1. New product ideas come from ____.
a. internal sources, using company R&D
b. external sources, listening to distributors and suppliers
c. external sources, watching and listening to customers
d. Both A and C
e. All of the above are source of new product ideas
Answer:
e. All of the above are source of new product ideas.
Question:
Frequent purchases, little planning, low customer
involvement, low prices, widespread distribution, and
convenient locations are characteristics of ____.
a. shopping products
b. convenience products
c. unsought goods
d. specialty products
Answer:
b. convenience products
Question:
3. A product's ____ is the place the product occupies in
consumers' minds relative to competing products.
a. life-cycle stage
b. location
c. positioning
d. distribution
Answer:
c. positioning
Question:
4. Coors has labels on their beer bottles that turn blue
when the beer is at the optimal drinking temperature. This
is an example of ____.
a. co-branding
b. multi-branding
c. line extension
d. brand extension
e. none of the above
Answer:
e. none of the above
, Question:
5. If a consumer buys a passenger van for driving his/her
children to and from school, the passenger van is a(n) ____.
If the same consumer buys the passenger van to operate
an airport shuttle service, the passenger van is a(n) ____.
a. sought good; consumer product
b. unsought good; industrial product
c. industrial product; consumer product
d. consumer product; industrial product
Answer:
d. consumer product; industrial product
Question:
6. All of the following are accurate descriptions of
conditions necessary for market-skimming pricing
strategy to work, except which one?
a. Production and distribution costs must fall as sales
volume increases.
b. Competitors should not be able to enter the market
easily and undercut the high price.
c. The product's quality and image must support its higher
price.
d. Enough buyers must want the product at that high
price.
Answer:
a. Production and distribution costs must fall as sales volume increases.
Question:
7. During which stage of the consumer purchase decision
process is a buyer most likely to experience cognitive
dissonance?
a. Purchase Decision
b. Adoption
c. Post-purchase Behavior
d. Need Recognition
Answer:
c. Post-purchase Behavior
Question:
8. As was discussed in class, an example of an industry
that typically practices a "product quality leadership"
strategy when it comes to setting prices is:
a. the banking industry
b. the airline industry
c. the computer industry
d. the pharmaceutical industry
Answer:
CORRECT ANSWERS (2)
Question:
1. New product ideas come from ____.
a. internal sources, using company R&D
b. external sources, listening to distributors and suppliers
c. external sources, watching and listening to customers
d. Both A and C
e. All of the above are source of new product ideas
Answer:
e. All of the above are source of new product ideas.
Question:
Frequent purchases, little planning, low customer
involvement, low prices, widespread distribution, and
convenient locations are characteristics of ____.
a. shopping products
b. convenience products
c. unsought goods
d. specialty products
Answer:
b. convenience products
Question:
3. A product's ____ is the place the product occupies in
consumers' minds relative to competing products.
a. life-cycle stage
b. location
c. positioning
d. distribution
Answer:
c. positioning
Question:
4. Coors has labels on their beer bottles that turn blue
when the beer is at the optimal drinking temperature. This
is an example of ____.
a. co-branding
b. multi-branding
c. line extension
d. brand extension
e. none of the above
Answer:
e. none of the above
, Question:
5. If a consumer buys a passenger van for driving his/her
children to and from school, the passenger van is a(n) ____.
If the same consumer buys the passenger van to operate
an airport shuttle service, the passenger van is a(n) ____.
a. sought good; consumer product
b. unsought good; industrial product
c. industrial product; consumer product
d. consumer product; industrial product
Answer:
d. consumer product; industrial product
Question:
6. All of the following are accurate descriptions of
conditions necessary for market-skimming pricing
strategy to work, except which one?
a. Production and distribution costs must fall as sales
volume increases.
b. Competitors should not be able to enter the market
easily and undercut the high price.
c. The product's quality and image must support its higher
price.
d. Enough buyers must want the product at that high
price.
Answer:
a. Production and distribution costs must fall as sales volume increases.
Question:
7. During which stage of the consumer purchase decision
process is a buyer most likely to experience cognitive
dissonance?
a. Purchase Decision
b. Adoption
c. Post-purchase Behavior
d. Need Recognition
Answer:
c. Post-purchase Behavior
Question:
8. As was discussed in class, an example of an industry
that typically practices a "product quality leadership"
strategy when it comes to setting prices is:
a. the banking industry
b. the airline industry
c. the computer industry
d. the pharmaceutical industry
Answer:
