QUESTION Which of the following is an example of unsought goods and services? A) diamond necklace B) rare coffee beans C) Band-Aids D) fur coat E) acne cream ANSWER Answer: E Explanation: E) Acne cream comes under unsought goods and services: those products consumers are not aware of or interested in.
Date: September 3rd, 2020
QUESTION Which of the following, if true, most weakens the argument above? A) City A is in a region known for high demand for pineapples. B) People in City A are more likely than people in City B to eat fresh fruit for health reasons. C) No competitor of All American Burger located in either […]
Date: September 3rd, 2020
QUESTION Which category of business product is correctly paired with its definition? A) supplies: smaller, more mobile equipment B) installations: basic materials for making principal product C) capital items: large, long-lasting equipment D) process materials: goods to help make, but not become part of, principal product E) raw materials: services used in operations ANSWER […]
Date: September 3rd, 2020
QUESTION Industrial goods, also called business goods, are products used to produce other products. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: The business market or business-to-business (B2B) market consists of those businesses that want industrial goods, or business goods, products used to produce other products.
Date: September 3rd, 2020
QUESTION Which of the following is an example of specialty goods and services? A) limited edition olive oil B) Louis Vuitton off-the-rack purse C) checking account D) potato chips E) emergency clean-up services ANSWER Answer: A Explanation: A) Limited edition olive oil comes under specialty goods and services: those products requiring special effort to […]
Date: September 3rd, 2020
QUESTION A new product color, size, or packaging represents a discontinuous innovation. Indicate whether the statement is true or false. ANSWER Answer: FALSE Explanation: A new product color, size, or packaging represents a continuous innovation, representing modest improvements.
Date: September 3rd, 2020
QUESTION Which of the following is an example of convenience goods and services? A) clothing B) paintings C) home warranty D) bonds E) newspapers ANSWER Answer: E Explanation: E) Newspapers come under convenience goods and services: those inexpensive products that people buy frequently and with little effort.
Date: September 3rd, 2020
QUESTION Heavy on startup costs, with sales usually low, and the huge risk that the product may be rejected in the marketplace, the growth stage of the product life cycle is the period in which customer demand increases, the product’s sales grow, and later competitors may enter the market. Indicate whether the statement is true […]
Date: September 3rd, 2020
QUESTION At the maturity stage of the product life cycle, sales slow as competition makes inroads, and managers need to concentrate on reducing costs in an effort to maintain the product’s profitability. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: The maturity stage is the period in which the product […]
Date: September 3rd, 2020
QUESTION Rachel has a new job working at a conveyor belt in a paper recycling plant. She works the residential mixed paper line. Her job is to pull off nonrecyclable items mixed in with the magazines, newspapers, and cereal-box cardboard. The first few days, when she had a coworker alongside her showing her the process, […]
Date: September 3rd, 2020
