If a lawn mower is bought for use in a landscaping business, how is it classified?
Correct answer A. Industrial products
Topic / 94 questions
Products, Services and Brands MCQs
Page 2 of Products, Services and Brands multiple-choice questions with answers. Tap an option to check yourself.
Page 2 of 5
- Developing Marketing Strategies and Plans 137
- Analyzing Consumer Markets 124
- Creating Brand Equity 98
- Products, Services and Brands 95
- Consumer Markets and Buyer Behavior 93
- New Product Development 89
- Customer Driven Marketing Strategy 86
- Product Strategy Setting 80
- Analyzing Business Markets 69
- Conducting Marketing Research 69
- Collecting Information and Forecasting Demand 65
- Integrated Marketing Channels 55
- Identifying Market Segments and Targets 47
- Pricing Capturing Customer Value 43
- Company and Marketing Strategy 40
- Introduction to Marketing 40
- Pricing Strategy 40
- Personal Selling and Sales Promotion 37
- Analyzing Marketing Environment 34
- Marketing Communications Customer Value 31
- Designing and Managing Services 29
- Marketing Channels 28
- Retailing and Wholesaling Strategy 28
- Creating Long-term Loyalty Relationships 27
- Global Marketplace 25
- Competitive Dynamics 25
- Business Markets and Buyer Behavior 24
- Managing Marketing Information Customer Insights 23
- Direct and Online Marketing 22
- Sustainable Marketing Social Responsibility and Ethics 20
- Competitive Advantage 17
Airlines and home repair firms are best classified as offering what?
Correct answer C. Services
Which of the following is included in industrial capital items?
Correct answer A. Installations
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Which of the following is NOT a category of consumer products?
Correct answer D. Sought products
What does the purchase of a service NOT result in?
Correct answer D. Ownership of anything
Which products require aggressive advertising and personal selling efforts?
Correct answer C. Unsought consumer products
Major household appliances such as televisions and refrigerators are classified as what?
Correct answer A. Shopping products
Fixed equipment such as generators, drill presses and elevators is classified as what?
Correct answer B. Industry capital items
Stores such as Best Buy, Staples and PetSmart are examples of which retail format?
Correct answer C. Superstore
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In a franchise organisation, what are the independent business people who buy into the system called?
Correct answer D. Franchisee
What is a contractual arrangement among independent retailers who set up a jointly owned central wholesale operation and run joint promotions called?
Correct answer D. Retailer cooperative
What is a retail store called that carries a very deep assortment in one line and is staffed by knowledgeable employees?
Correct answer D. Category killer
What is a retail outlet owned and operated by a manufacturer that usually sells its surplus, discontinued or irregular goods called?
Correct answer C. Factory outlets
What is an independent wholesaler that takes title to the goods it handles called?
Correct answer C. Merchant wholesalers
What is the third step in value-based pricing?
Correct answer A. Determine incurred costs
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What is a contractual arrangement in which independent business people buy the right to own and operate units of a system set up by a manufacturer, wholesaler or service organisation called?
Correct answer B. Franchise
What is the concept called in which new retailers start as low-price, low-margin operations and gradually become the high-priced retailers they once replaced?
Correct answer C. Wheel of retailing concept
Which major product variables must retailers decide on?
Correct answer D. All of the above
Which type of retail store is a low-margin, high-volume, self-service operation meeting consumers’ grocery needs?
Correct answer C. Supermarket
What is an off-price retailer called that sells a limited range of brand-name groceries and other goods at deep discounts to members who pay a fee?
Correct answer B. Warehouse clubs