BUAD 332 Exam 2 2025 | All Questions and Correct Answers | Already
Graded A+ | University of Tennessee Knoxville
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 - (CORRECT ANSWER)e. All of the above are source
of new product ideas.
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 - (CORRECT ANSWER)b. convenience products
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 - (CORRECT ANSWER)c. positioning
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
1
, c. line extension
d. brand extension
e. none of the above - (CORRECT ANSWER)e. none of the above
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 - (CORRECT ANSWER)d. consumer product; industrial product
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. - (CORRECT ANSWER)a. Production and
distribution costs must fall as sales volume increases.
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 - (CORRECT ANSWER)c. Post-purchase Behavior
2
Graded A+ | University of Tennessee Knoxville
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 - (CORRECT ANSWER)e. All of the above are source
of new product ideas.
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 - (CORRECT ANSWER)b. convenience products
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 - (CORRECT ANSWER)c. positioning
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
1
, c. line extension
d. brand extension
e. none of the above - (CORRECT ANSWER)e. none of the above
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 - (CORRECT ANSWER)d. consumer product; industrial product
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. - (CORRECT ANSWER)a. Production and
distribution costs must fall as sales volume increases.
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 - (CORRECT ANSWER)c. Post-purchase Behavior
2
