QUESTION Computers, copiers, and desks are examples of what category of business product? A) supplies B) installations C) accessory equipment D) process materials E) capital items ANSWER Answer: C Explanation: C) Computers, copiers, and desks are examples of accessory equipment.
Date: September 3rd, 2020
QUESTION Employees, research and development departments, customers, suppliers, and even competitors can help a company with this stage in developing a new product. A) idea generation B) test marketing C) product analysis D) commercialization E) product screening ANSWER Answer: A Explanation: A) Companies may develop new products internally by listening to employees or through […]
Date: September 3rd, 2020
QUESTION Which of the following is NOT an example of a raw material? A) industrial glue B) iron C) oil D) corn E) wood ANSWER Answer: A Explanation: A) Industrial glue is an example of a process material.
Date: September 3rd, 2020
QUESTION A big question at this stage in developing a new product is whether to roll out the product gradually in selected geographical areas or roll it out nationwide all at once. A) product screening B) product analysis C) commercialization D) product development E) test marketing ANSWER Answer: C Explanation: C) Commercialization is the […]
Date: September 3rd, 2020
QUESTION Which of the following is an example of a component part? A) industrial robots B) cleaning agents C) wool D) batteries E) food preservatives ANSWER Answer: D Explanation: D) Batteries, along with computer chips, switches, and tires, are examples of component parts.
Date: September 3rd, 2020
QUESTION Fred’s company wants to come up with new product ideas. So Fred’s manager asked Fred to attend an idea-generating brainstorming meeting. Fred sat quietly throughout the meeting, not contributing anything. Later, Fred said, “My inner voice was blocking my creativity. All kinds of negative thoughts were running through my head.” Which of the following […]
Date: September 3rd, 2020
QUESTION Goodyear tires and Publix foods are examples of private-label brands, those attached to products distributed by one store or chain. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: Private brands are generally lower priced than national brands, and consumers may consider them less prestigious.
Date: September 3rd, 2020
QUESTION Illegal imitations of national brand-name products are called copycat brands. Indicate whether the statement is true or false. ANSWER Answer: FALSE Explanation: Illegal imitations of national brand-name products are called knockoff brands.
Date: September 3rd, 2020
QUESTION Objectives used when assigning prices to things include matching or beating the competition, making products more affordable to certain people, and creating prestige. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: Three of the five pricing objectives are to match or beat the competition, to make products more affordable […]
Date: September 3rd, 2020
QUESTION The Macy’s star is a brand name. Indicate whether the statement is true or false. ANSWER Answer: FALSE Explanation: The Macy’s star is a brand mark, a part of a brand that cannot be expressed verbally.
Date: September 3rd, 2020
