MKT Chapter 10

What Is a Product?
Everything, both favorable
and unfavorable, that a
person receives in an exchange.

Tangible Good
Service
Idea

The product offering, the heart of an organization’s marketing program, is usually the starting point in creating a __
marketing mix.
__is the starting point of Marketing Mix
Product
Price, distribution, and promotion strategies can not be determined until the firm has a __ to sell.
product
A ___ is everything, both favorable and unfavorable, that a person receives in an exchange.
product
Well-conceived price, distribution, and promotion strategies have little value without a __
strong product offering
Business Product
A product used to manufacture other goods or services, to facilitate an organizations operations, or to resell to other consumers
Consumer Product
A product bought to satisfy an individual’s personal needs or wants
Products can be classified as either business (industrial) or consumer products. The classification as a business or consumer product depends on the __
buyer’s intentions.
Types of Consumer Products
convenience, shopping, specialty, unsought
Types of Business Products
major equipment, accessory equipment, raw materials, component parts, processed materials, supplies, business services
Convenience Product
a relatively inexpensive item that merits little shopping effort
_____ products are purchased with little shopping effort. These products typically are purchased regularly, usually with little planning, and require wide distribution.
merit
deserving, worthy
Shopping Product
A product that requires comparison shopping, because it is usually more expensive and found in fewer stores
Specialty Product
A particular item for which consumers search extensively and are reluctant to accept substitutes
Unsought Product
a product unknown to the potential buyer or a known product that the buyer does not actively seek
Examples of Convenience Product
Canned, frozen, cured, dried, or freeze-dried.
Examples of Shopping Product
Furniture, apparel, fragrances, appliances, or travel
Examples of Specialty Product
fine watches, expensive automobiles, gourmet restaurants, wedding dresses
Examples of Unsought Product
new products, insurance, burial plots, encyclopedias
In Shopping Product category, Decisions are based on the ____
lowest-priced brand with the desired features.
Product Item
A specific version of a product that can be designated as a distinct offering among an organization’s products, A specific model, brand, or size of a product within a product line
Product Line
A group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges
Product Mix
All products that an organization sells
Rarely does a company sell a single product. Instead, it sells a variety of things that may be categorized into __
product lines and product mixes.
All of Campbell’s products constitute its __. Each product in the product mix may require a separate marketing strategy.
product mix
In some cases, product lines and mixes share some __ components. Consider Nike’s theme, “Just Do It.”
marketing strategy
Benefits of Product Lines
advertising economies, package uniformity, standardized components, efficient sales and distribution, equivalent quality
Advertising Economies
advantage of a product line, idea that one product inadvertently advertises for another. ex. Diet Coke advertises for Coke, shared name is good strategy
economies of scale
The larger the firm the greater the scale of benefits, and the lower the cost per unit. If it produces more, lowering the cost per unit, it can lower the market price and sell more products, because it sets market prices.
Package Uniformity
a product line can benefit from package uniformity. all packages in the line may have a common look and still keep their individual identity.
Standardized Components
Product lines that allow firms to standardize components, thus reducing manufacturing and inventory costs.
Efficient Sales and Distribution
a product line enables a full range of choices to customers, and as a result, better distribution and retail coverage.
Equivalent Quality
advantage of a product line, all products of a company regardless of sticker price should be made w same regard for high quality ex. 3-series bmws same quality as 7-series
Product Mix Width
The number of product lines an organization offers
____ diversifies risk across many product lines rather than depend on one or two lines. Widening the mix also capitalizes on established reputations
Product mix width
Product Line Depth
the number of product items in a product line
____ attracts buyers with different preferences.
____ increases sales/profits by further market
segmentation.
____ capitalizes on economies of scale.
____ evens out on seasonal sales patterns.
Product Line Depth
Over time, updates in technical or product developments or environmental changes warrant changes to __
product items, lines, and mixes.
The three strategies for making adjustments to product items, lines, and mixes are:
Product Modification
Product Repositioning
Product Line Extension or Contraction
Product Modification
changing one or more of a product’s characteristics
Product Repositioning
Changing the place a product occupies in a consumer’s mind relative to competitive products.
Product Line Extension or Contraction
adding additional products to an existing product line in order to compete more broadly in the industry
Types of Product Modifications
quality modification, functional modification, style modification
quality modification
Change in a product’s dependability or durability. Reducing a product’s quality may let the manufacturer lower the price and appeal to target markets unable to afford the original product. Conversely, increasing quality can help the firm compete with rival firms. Like Barnes & Novle offering a color version of its nook that runs android apps allowing it to compete with apple and netbook makers.
Functional Modification
change in a product’s versatility, effectiveness, convenience, or safety
versatility
ability to do many things
Style Modification
aesthetic product change rather than a quality or functional change
obsolescence
process of wearing out
Planned obsolescence
the practice of modifying products so those that have already been sold become obsolete before they actually need replacement, A company purposefully outdates its products to force customers to upgrade.
Why reposition established brands?
change demographics, declining sales, and changes in social environment
The second way of adjusting product items, lines, and mixes is by __. __changes consumers’ perceptions of a brand.
repositioning
A product line extension occurs when __
management adds products to an existing product line in order to compete more broadly in the industry.
Product Line Contraction
cutting a product line down in order to help market
Symptoms of Product Line Overextension
low sales or cannibalize sales of other items, resources are disproportionately allocated to slow- moving products, and items have become obsolete because of new product entries
When a firm contracts overextended product lines, the benefits that are likely include:
* Resource concentration on the most important products. * No waste of resources on poorly performing products. * Greater likelihood of the success of new product items due to more financial and human resources to manage them.
Branding
A marketing function that identifies products and their source and differentiates them from all other products
Brand Name
That part of a brand that can be spoken, including letters, words, and numbers
Brand Mark
The elements of a brand that
cannot be spoken
Brand Equity
The value of company and brand names
Global Brand
A brand where at least one-third of the product is sold outside its home country
brand
a name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products.
A product’s success depends on the target market’s ability to distinguish one product from another. Marketers use ___ as the major tool in distinguishing their product from the competition.
branding
Benefits of Branding
product identification, repeat sales, and new-product sales
Top Ten Global Brands
Coca-Cola, IBM, Microsoft, GE, Nokia, McDonald’s, Google, Toyota, Intel, Disney
product identification
colorful logos to achieve product identification. (ex. Pepsi bottle, Pillsbury Dough Boy<- used in the book)
Repeat Sales
more money is made off repeat customors, not new ones
branding causes new customers to buy your product because of the brand you have created for your company, the image can suck people in to trust you and will cause new ______
New Product Sales
If a brand is used, the choice is made between a __
manufacturers’ brand, a private brand, or both.
With either a manufacturers’ brand or a private brand, a decision is made among:
Individual brand, Family brand, a combination of individual branding and family branding.
Manufacturer’s Brand
the brand name of a manufacturer
Private Brand
A brand name owned by a wholesaler or a retailer. Also known as private label or store brand.
Advantages of Manufacturers’ Brands
Heavy consumer ads by manufacturers
Attract new customers
Enhance dealer’s prestige
Rapid delivery, carry less inventory
If dealer carries poor quality brand, customer may simply switch brands and remain loyal to dealer
Advantages of Private Brands
Earn higher profits on own brand
Less pressure to mark down price
Manufacturer can become a direct competitor or drop a brand/reseller
Ties customer to wholesaler or retailer
Wholesalers and retailers have no control over the intensity of distribution of manufacturers’ brands
Individual Brand
Using different brand names for different products.
Family Brand
Marketing several different products under the same brand name.
Cobranding
placing two or more brand names on a product or its package
Types of Cobranding
ingredient branding, cooperative branding, complementary branding
Ingredient Branding
identifies the brand of a part that makes up the product. Examples: Intel in Dell computers, Coach interiors in Lincoln automobiles.
Cooperative branding
occurs when two brands receive equal treatment. Examples: Promotional contest sponsored by Ramada Inns, American Express, and Continental Airlines.
Complementary branding
refers to products advertised or marketed together to suggest usage, A form of co-branding in which the marketing of two brands together encourages co-consumption or co-purchases
The benefits of cobranding include: ___
Enhancement of prestige or value of a product and increased market presence in markets with little or no market share.
Trademarks
the exclusive right to use a brand.Others are prohibited to use without permission.
Many parts of a brand and associated symbols qualify for __
trademark protection.
Trademark right comes from__
use rather than registration.
The __has to be continuously protected
mark
__ continue for as long as the mark is used
Rights
__ law applies to the online world.
Trademark
Service mark
The same as a trademark except that it refers to a service offering.
Parts of a brand or other product identification may qualify for __. Some of the best known trademarked features include the Coca-Cola bottle and the Nike “Swoosh,” the Jeep front grille, and the Levi’s pocket tag.
trademark protection
Companies that fail to protect trademarks face the risk of product names becoming __. This list includes aspirin, cellophane, thermos, monopoly, cola, and shredded wheat.
generic
some heavily-protected product brands that are used generically in conversations. Examples might include __
Kleenex, Xerox, Band-Aid Brand Adhesive Bandages, etc.
Packaging
“The way in which a product is presented and delivered to the consumer. Color, shape, size and different materials will generally be used to help market the product.”
Functions of Packaging
Contain and protect, promote, facilitate storage use and convenience, facilitate recycling
___ serves not only the practical function of containing and protecting products as they travel through the distribution channel, but it is also a container for promoting the product and making it safer and easier to use.
Packaging
package Labeling
Package contents, Date of sterilization (julian date), cycle and autoclave number, initials of who prepared the package, department where it’s to be sent.
Package labeling takes two forms: __
persuasive or informational.
Persuasive Labeling
a type of package labeling that focuses on a promotional theme or logo, and consumer information is secondary
Informational Labeling
a type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase
Universal Product Codes
A series of thick and thin vertical lines (bar codes), readable by computerized optical scanners, that represent numbers used to track products.
UPCs
Universal Product Codes.
___, often called bar codes, were first introduced in 1974
Universal product codes
___ help retailers prepare records of customer purchases, control inventories, and track sales
UPCs
Global Issues in Branding: When entering a foreign market with an existing product a firm has three options for handling the brand name ____
one brand name everywhere, adaptions and modifications, different names in different markets
Global Issues in Branding: One Brand Name Everywhere
Coca-Cola uses this strategy in 195 countries around the world. This strategy allows greater recognition of the product and easier promotional coordination from market to market.
Global Issues in Branding: Adaptations and modifications
are used when the name cannot be pronounced or interpreted successfully in a different language.
Global Issues in Branding: Different brand names for different markets:
Local brand names are used when translation or pronunciation problems occur, when the marketer wants the brand to appear to be a local brand, or when regulations require localization.
Global Issues in Packaging
Labeling, Aesthetics, Climate Considerations
Labeling concern is __
translation of ingredient, promotional, and instructional information on labels.
___ are important from a cultural perspective. For example, colors may have different and often negative connotations. Package size is influenced by availability of refrigeration, amount of storage space, and even the purchasing power of buyers. On the other hand, simple visual elements of the brand, such as a logo or symbol, can be a standardizing element across products and countries.
Package aesthetics
___ and long-distance shipping necessitate sturdier packages. Packages may need a longer shelf life.
Extreme climates
Warranty
A confirmation of the quality or performance of a good or service.
Express Warranty
A written guarantee with explanation of the producer’s responsibilities in the event that a product is found to be defective or otherwise unsatisfactory.
Implied Warranty
An unwritten guarantee that the
good or service is fit for the purpose for which it was sold. (UCC
Just as a package is designed to protect the product, a ___ protects the buyer and gives essential information about the product.
warranty
A ___confirms the quality or performance of a good or service.
warranty
product
everything, both favorable and unfavorable, that a person receives in an exchange (Tangible good, service, idea)
business product
A product used to manufacture other goods or services, to facilitate an organizations operations, or to resell to other customers
consumer product
a product bought to satisfy an individuals personal wants
convenience product
a relatively inexpensive item that merits little shopping efforts
shopping product
a product that requires comparison in shopping, because it is usually more expensive and found in fewer stores
speciality product
a particular item for which consumers search extensively and are reluctant to accept substitutes
unsought product
a product unknown to the potential buyer or a known product that the buyer does not actively seek
product item
a specific version of a product that can be designated as a distinct offering among an organizations products
product line
a group of closely-related product items
product mix
all products that an organization sells
product mix width
the number of product lines
product line depth
the number of product items in a product line
product modification
changes one or more of a products characteristics: functional modification, quality modification, style modification
planned obsolescence
the practice of modifying products
so those that have already been
sold become obsolete before they
actually need replacement
style modification
an aesthetic product change rather than a functional or quality change
quality motification
change in products dependability or durability
product repositioning
changing demographics, decling sales, or changes in the social environment often motivates firms to reposition established brands
product line extension
adding additional products to an existing product line in order to compete more broadly or diversify the risk in the industry
product line contraction
getting rid of additional products to an existing product line in order to handle overextension
brand name
that part of a brand that can be spoken, including letters, words, and numbers
brand mark
the elements of a brand that cannot be spoken
brand equity
the value of company and brand names
global brand
a brand where at least a third of the earnings come from outside its home country
brand loyalty
consistent preference for one brand over all
others
benefits of branding
product identification, repeat sales, new product sales
manufacturer’s brand
the brand name of a manufacturer. also known as a national brand ex:dell
private brand
a brand name owned by a wholesaler or a retailer. also known as a private label or store brand ex: 7 eleven
captive brand
a brand manufactured by a third party for an
exclusive retailer, without evidence of that retailer’s affiliation
individual brands
using different brand names for different products ex: P&G
individual branding
using different brand names for different
products
When a company uses different brand names for different products, it is using _____ branding.
co-branding or cobranding
placing two or more brand names on a product or its package
family branding
marketing several different products under the
same brand name
family brand
marketing several different products under the same brand name ex:apple
trademark
the exclusive right to use a brand or part of a brand
service mark
a trademark for a service
generic product name
– identifies a product by class or type and cannot be trademarked
-when a product name becomes generic the product name is no longer recognized as the exclusive property of one firm
persuasive labeling
a type
of package labeling that focuses on
a promotional theme or logo, and
consumer information is secondary. focuses on promotional theme or logo ex: 90% whole wheat on front of package
informational labeling
helps make proper selections ex: serving facts/nutrition facts
– a type of package labeling designed to
help consumers make proper product
selections and lower their cognitive
dissonance after the purchase
universal product codes (UPCs)
a series of thick and thin vertical lines (bar codes) readable by computerized optical scanners that
represent numbers used to track products
global issues in branding
one brand name everywhere, adaptations and modifications, different brand names in different markets
warranty
a confirmation of the quality or performance of a good or service
express warranty
a written guarantee
implied warranty
an unwritten guarantee that the good or service is fit for the purpose for which it was sold
The ___ is the starting point in creating a marketing mix
product
why is creating of a product the starting point for the marketing mix?
determination of the price promotional campaign, and the distribution network cannot begin until the product has ben specified
A _____ is everything, both favorable and unfavorable, that a person receives in an exchange. It can be tangible, intangible, a service, an idea, or a combination of these things
product
Sebastian got a haircut this afternoon. His haircut cannot be called a product because it is a service, not a tangible good. True or false?
False
Convenience product
a relatively inexpensive item that merits little shopping effort
shopping product
a product that requires comparison shopping because it usually more expensive than a convenience product and is found in fewer stores
specialty product
a particular item for which consumers search extensively and are very reluctant to accept substitutes
unsought product
a product unknown to the potential buyer or a known product that the buyer doesn’t actively seek
product item
a specific version of a product that can be designated as a distinct offering among an organization’s products
product line
a group of closely related product items
product mix
all products that an organization sells
product mix width
the number of product lines an organization offers
product line depth
the number of product items in a product line
product modification
changing one or more of a product’s characteristics
planned obsolescence
the practice of modifying products so those that have already been sold become obsolete before they actually need replacement
product line extension
adding additional products to an existing product line in order to compete more broadly in the industry
brand
a name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products
brand name
that part of a brand that can be spoken, including letters, words, and numbers
brand mark
the elements of a brand that cannot be spoken
three main purposes of branding
product identification, repeat sales, and new product sales
brand equality
the value of a company or brand name
global brand
a brand that obtains at least one-third of its earnings from outside its home country, is recognizable outside its home base of customers, and has publicly available, marketing and financial data
brand loyalty
consistent preference for one brand over all others
manufacturer’s brand
brand name of a manufacturer
private brand
a brand name owned by a wholesaler or a retailer
captive brand
a brand manufactured by a third party for an exclusive retailer’s affliliation
individual branding
using different brand names for different products
family branding
marketing several different products under the same brand name
co-branding
placing two ore more brand names on a product or its package
trademark
the exclusive right to use a brand or part of a brand
service mark
a trademark for a service
generic product name
identifies a product by class or type and cannot be trademarked
persuasive labeling
a type of package labeling that focuses on a promotional theme or logo, and consumer information is secondary
informational labeling
a type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase
universal product codes (UPCs)
a series of thick and thin vertical lines (bar codes) readable by computerized optical scanners that represent numbers used to track products
warranty
a confirmation of the quality or performance of a good or service
express warranty
a written guarantee
implied warranty
an unwritten guarantee that the good or service is fit for the purpose for which it was sold
t/f A product may be defined as everything, both favorable and unfavorable, that a person receives in an exchange
true
t/f An elementary school teacher purchased a ream of art paper, a box of crayons, and some modeling clay. The teacher intends to use these products in her classroom, so they would be classified as business products
true
t/f Convenience products, though inexpensive, still require considerable shopping effort by buyers.
false
convenience products are relatively inexpensive items that merit little shopping effort
t/f Given the many differences in majors available, living options, and image differences, universities would be classified as a heterogeneous shopping product for most people
True
t/f Inez believes that makeup is the most important part of her wardrobe. She spends considerable time comparing the prices, skin tones, and color options available at various cosmetics counters in department stores. For Inez, makeup is a convenience product.
false
for Inez, makeup is a shopping product
t/f Rolex watches are very expensive and can only be purchased in high-end jewelry stores located in large metropolitan areas. Most buyers will accept no substitutes. Rolex watches are an example of a shopping product.
false
this is an example of a specialty product
t/f A product unknown to the potential buyer or a known-product that the buyer does not actively seek is referred to as an undesirable product.
false
this is an unsought product
t/f Coca-Cola is one of the world’s largest manufacturers of beverages. It makes over 2,800 different beverage products, including sparkling drinks, waters, juices, juice drinks, teas, coffees, sports drinks, and energy drinks. The great variety of beverages made by Coca-Cola represents its product mix.
true
t/f Product modification occurs when changes are made in how the product functions, its quality, or some aesthetic characteristic of the product.
true
t/f Chef’s Catalog built its reputation on selling the highest-quality baking ingredients. The catalog retailer has added a line of fine kitchen tools and wants its customers to think of the retailer as a place to buy everything needed to bake the finest breads and desserts–not just for buying the ingredients. The marketing term for changing consumers’ perceptions of the Chef’s Catalog is segmentation.
false
changing consumers’ perceptions is called repositioning
t/f Apple is known for its Macintosh and iPod products. Apple recently added the iPhone product to its list of products. The addition of the iPhone was an example of a product line extension for the company.
true
t/f Isaac Golding, owner of a tutoring service, has developed a design for his firm that includes an owl wearing large spectacles and carrying a satchel crammed full of books and papers. Golding plans to use this design on all communications the firm sends out. This design is called the firm’s brand name.
false
such as design would be called the firm’s brand mark, which is the elements of a brand that cannot be spoken
t/f Branding has three main purposes: product identification, repeat sales, and new-product sales.
true
t/f Brand names such as Kleenex, UPS, Sony, Chevrolet, and Kellogg’s are likely to have less brand equity than brand names like Viking, Zojirishi, Schimano, and Thule.
false
they are likely to have more brand equity, which is the value of company and brand names because of their familiarity
t/f Sam likes Michelin tires. If he needs new tires and Michelins are not on sale, he is willing to pay a higher price for Michelin rather than buy some other brand. Sam is brand loyal to Michelin.
true
t/f Retailers love national brands because overhead is low and there are no marketing costs, and they bring higher profit margins than private brands.
False
private brands, not national brands, bring these benefits to retailers
t/f when the manufacturer of French’s classic yellow mustard introduced french’s
false
this was an example of family branding. co-branding is placing two or more brand names on a product or its package
t/f Trademark protection and rights only lasts for five years.
false
trademark protection typically lasts for ten years’ however, rights to a trademark last as the mark is used
t/f The most important functions of packaging are to contain and protect products, promote products, facilitate product storage, and facilitate recycling
true
T/F The nutrition label on a package is an example of persuasive labeling
false
this is better described as informational labeling
T/F Due to the time required to scan them, universal product codes (UPCs) are typically placed on merchandise that would be classified as shopping products.
false
UPCs appear on most items in supermarkets and other high-volume outlets. Bar codes also appear on shopping products such as clothing, appliances, high-end wines, etc. The UPC is essential in supply chain management for a wide variety of products, not just shopping products.
T/F A company that wants to market its product globally has only two branding strategies available: either use the brand name everywhere or develop a new brand name for each different market.
false
there is a third possible branding strategy- adapt and modify
t/f Cultural traits can make a package design successful in one country and a failure in another
true
t/f A warranty does not confirm the quality or performance of a good or service
false
A warranty is a confirmation of the quality or performance of a good or service.
t/f All sales have an implied warranty under the Uniform Commercial Code.
true
A _____ is everything, both favorable and unfavorable, that a person receives in an exchange. It can be tangible, intangible, a service, an idea, or a combination of these things.
a.
brand equity
b.
quality
c.
warranty
d.
transaction
e.
product
E
The _____ is the starting point in creating a marketing mix.
a.
price
b.
product
c.
distribution channel
d.
promotional media
B
Why is creation of a product the starting point for the marketing mix?
a.
The production department must know what to produce first.
b.
Production strategy is the first of the four Ps listed in the marketing mix.
c.
Determination of the price, promotional campaign, and distribution network cannot begin until the product has been specified.
d.
Product development takes the longest amount of time to complete.
e.
Actually, the product does not have to be the starting point–promotional strategies are often the starting point.
C
Which of the following is NOT an example of a product’s tangible feature?
a.
Brand equity
b.
Packaging
c.
Color
d.
Options
e.
Size
A
When a greenhouse plant grower sells plants to nursery retailers, the grower is selling _____ products.
a.
specialty
b.
consumer
c.
convenience
d.
business
e.
unsought
D
Rock-Tenn produces cardboard cartons to be used by companies in the food industry. Rock-Tenn is selling _____ products.
a.
specialty
b.
consumer
c.
business
d.
convenience
e.
unsought
C
The consumer product classification system is based on:
a.
how the market is segmented
b.
the way the products are manufactured
c.
the way products are used
d.
the physical attributes of the product
e.
the amount of effort consumers spend to acquire the product
E
There are many HD television sets on the market, and they vary so much on price, quality, and features that consumers often have trouble comparing them. An HD television would probably be considered a _____ product.
a.
convenience
b.
specialty
c.
heterogeneous shopping good
d.
homogeneous shopping good
e.
generic
C
_____ products are purchased with little shopping effort. These products typically are purchased regularly, usually with little planning, and require wide distribution.
a.
Convenience
b.
Specialty
c.
Branded shopping
d.
Unbranded shopping
e.
Generic
A
The convenience product marketing strategy includes:
a.
wide distribution of the product
b.
higher than ordinary prices
c.
few retail outlets other than convenience stores
d.
significantly lower promotion budgets
e.
products that are not easily substitutable
A
Amy stopped by the grocery store to pick up a gallon of milk. As she was waiting to check out, she noticed that Soap Opera Digest had an interesting story about one of her favorite characters. As Amy is a huge fan of the long-running soap, she had to buy a copy. In this example, the Soap Opera Digest is an example of a(n) _____ product.
a.
specialty
b.
convenience
c.
business
d.
shopping
e.
unsought
B
Compared to the other classifications of consumer products, shopping products are:
a.
widely available, so they need little or no promotion
b.
usually less expensive than convenience products
c.
purchased without significant planning
d.
usually more expensive than convenience products and are found in fewer stores
e.
purchased immediately after the consumer realizes he or she needs them
D
Kathy is driving Chaz, her young son, home from soccer practice when Chaz says, “Mom, I’m thirsty.” Kathy immediately pulls the car into the nearest gas station and buys Chaz a Coke. For Kathy, the Coke is best described as an example of buying a _____ product.
a.
homogeneous shopping
b.
heterogeneous shopping
c.
convenience
d.
specialty
e.
C
Which of the following is the best example of a convenience product?
a.
Concert tickets
b.
Chewing gum
c.
Jeans
d.
Chemical for the swimming pool
e.
A birthday present
B
Which type of consumer product requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores?
a.
An unsought product
b.
A secondary product
c.
A unique product
d.
A shopping product
e.
A selective product
D
Harrison wanted a gas water heater. He watched newspaper ads until he found one on sale. For Harrison, the water heater is a(n) _____ product.
a.
shopping
b.
convenience
c.
component
d.
unsought
e.
specialty
A
The two types of shopping products are:
a.
unsought and convenience
b.
generic and family
c.
exclusive and intensive
d.
heterogeneous and homogeneous
e.
consumer and business
D
Which of the following is the best example of a shopping product for most consumers?
a.
Washing detergent
b.
Crackers
c.
A soft drink
d.
A digital camera
e.
A magazine
D
_____ are products consumers see as being basically the same, so consumers shop for the lowest price.
a.
Low-prestige specialty products
b.
Product equivalents
c.
Heterogeneous shopping products
d.
Generic convenience products
e.
Homogeneous shopping products
E
Andrea needs to find a kennel for boarding her son’s dogs. There are several different kennels in her community, and Andrea believes all of them to be basically alike. The only feature she is genuinely concerned about is low price. For Andrea, the kennel for boarding dogs would be classified as a(n) _____ product.
a.
specialty
b.
unsought
c.
heterogeneous shopping
d.
basic convenience
e.
homogeneous shopping
E
_____ products are seen by consumers to differ in quality, style, suitability, and lifestyle compatibility. Comparisons between these products are often quite difficult because they may have unique features and different levels of quality and price.
a.
Product equivalents
b.
Comparative convenience products
c.
Homogeneous shopping products
d.
Product counterparts
e.
Heterogeneous shopping products
E
When Kyla wanted patio furniture, she visited stores that had outdoor furniture, including Home Depot, Lowe’s, Target, and Howard Lumber Company to find the set that would look just right on her patio. If Kyla represents a typical patio furniture shopper, you know this product is a(n):
a.
homogeneous luxury product
b.
shopping specialty good
c.
operating supply good
d.
convenience item
e.
heterogeneous shopping good
E
Which of the following products is most likely to be considered an example of a heterogeneous shopping product?
a.
An apartment
b.
Laundry detergent
c.
A blender
d.
A package of pens
e.
Dog food
A
_____ products are searched for extensively, and substitutes are not acceptable. These products may be quite expensive, and often distribution is limited.
a.
Exclusive shopping
b.
Homogeneous convenience
c.
Branded shopping
d.
Specialty
e.
Heterogeneous convenience
D
Bang & Olufsen make some of the best sound systems in the world. After years of development, Bang & Olufsen recently released its new BeoLab 5 speakers. For audiophiles who demand the best in audio equipment, the $19,950 Bang & Olufsen BeoLab 5 speakers represent an example of a(n) _____ product.
a.
heterogeneous shopping
b.
specialty
c.
homogeneous shopping
d.
convenience
e.
exclusive
B
Janet will only purchase Williams-Sonoma products for her kitchen. The products are expensive, but Janet feels they have the highest quality and will last a very long time. These products represent _____ products.
a.
heterogeneous shopping
b.
specialty
c.
homogeneous shopping
d.
convenience
e.
business
B
Evan Zimmermann loves watches. He collects vintage Rolex sport models made between 1950 and 1960. He paid $1,500 for his first watch in 2000. Now the watch is worth $15,000. For Evan, the vintage watches are an example of a(n) _____ product.
a.
specialty
b.
consumer
c.
convenience
d.
business
e.
unsought
a
When deciding on distribution plans for specialty products, companies generally ensure that the items are:
a.
made available only as private brands
b.
made available in a large number of stores in a geographic area
c.
made available only through the mail
d.
distributed to a considerable number of stores in a geographic area
e.
distributed to only a few stores in the geographic area
E
_____ products are products that are not known about or not actively searched for by consumers. These products require aggressive personal selling and highly persuasive advertising.
a.
Hidden
b.
Specialty
c.
Equity
d.
Unsought
e.
Shopping
D
Unsought products typically are products that:
a.
consumers purchase when they see them in a convenient location
b.
consumers definitely don’t want
c.
only require reminder advertising to be successful
d.
require little or no decision making by the buyer
e.
consumers don’t know about or don’t actively look for
E
Alice is a very busy person, and she hates to spend her time doing yard work. She really likes the idea of a synthetic lawn. However, she has never pursued the idea, as she has two dogs in her backyard. Alice doesn’t know that several manufactures make synthetic grass with an antibacterial agent to minimize odors for pet owners. For Alice, the dog-friendly synthetic lawns are a(n) _____ product because she doesn’t know the product exists.
a.
heterogeneous shopping
b.
specialty
c.
unsought
d.
convenience
e.
exclusive
C
Freda was proud of her shiny new iPhone. But she was disappointed when she began to notice scratches on its display surface. If Freda had known about the clear protective films that were available to protect the iPhone display from scratches, she could have avoided this annoying problem. For Freda, the protective films are a(n) _____ product.
a.
heterogeneous shopping
b.
specialty
c.
unsought
d.
convenience
e.
consumer
C
In general, most consumers don’t spend a lot of time thinking about their funeral. So some funeral homes try to get them to think about their loved ones by advertising preplanned funerals. This is an attempt to get people to think about a product that most consumers do not actively seek. In other words, preplanned funerals are a(n) _____ product.
a.
heterogeneous shopping
b.
specialty
c.
unsought
d.
business
e.
consumer
C
A product line is a group of products that are closely related because the:
a.
products share the same product managers
b.
products all function in a similar manner and provide similar benefits
c.
same company has developed the idea for each product
d.
products are all sold under the same brand name
e.
products are all priced about the same
B
There are a number of toothpastes marketed under the Crest brand, including Cavity Protection Crest, Pro-Health Sensitive Shield Crest, Baking Soda Crest, Tarter Protection Crest, and Crest for Kids. The large variety of toothpastes under the Crest brand is an example of a:
a.
marketing mix
b.
product line
c.
product mix
d.
product equity
e.
product modificatio
B
Along with its Macintosh computer line, Apple markets its iPod, iPhone, and AppleTV products. This is an abbreviated listing of the company’s:
a.
customer mix
b.
product line
c.
product mix
d.
line depth
e.
product modification
C
Product mix width may be defined as:
a.
the number of different product categories found within an industry
b.
the average number of products within each product line in the company
c.
the average number of products offered by the company
d.
the number of different product lines an organization offers for sale
e.
the extensiveness of the coverage of the line from high end (expensive) to low end (inexpensive)
D
Most people recognize Campbell’s as a brand of soup, but Campbell’s also manufactures Pace Picante Sauce, Pepperidge Farms products, Prego pasta sauces, Swanson Broth, and V8 juice. All these products are part of Campbell’s:
a.
marketing equity
b.
product line
c.
product mix
d.
line depth
e.
product modification
C
ForeverLawn has recently added two new synthetic lawn products. One of the products includes fake brown grass that makes the synthetic lawn look more realistic, as it appears to have some patches of brown thatch. The other product is K9Grass for consumers who have pet dogs. The addition of these two new synthetic grass products is a way for ForeverLawn to increase its:
a.
line width
b.
breadth mix
c.
mix width
d.
line depth
e.
mix depth
D
Procter & Gamble manufactures Tide laundry detergent, the best-selling brand in the United States. But is also offers Tide to Go, which is a stick product consumers can use to clean a spot on their clothing between washings, and small travel packets of Tide detergent. These other products are part of Tide’s product line:
a.
width
b.
breadth
c.
mix
d.
depth
e.
synergy
D
There are a number of toothpastes marketed under the Crest brand, including Cavity Protection Crest, Pro-Health Sensitive Shield Crest, Baking Soda Crest, Tartar Protection Crest, and Crest for Kids. This is an example of Crest’s:
a.
product line width
b.
product mix
c.
product line depth
d.
product mix inconsistency
e.
marketing mix
C
Proctor & Gamble is a well-known producer of home and beauty products. Along with these products, P&G also markets pet products, prescription drugs, and small appliances. This range of products provides the company with product:
a.
line height
b.
line consistency
c.
mix width
d.
line depth
e.
mix depth
C
All of the following are benefits from organizing related items into product lines EXCEPT:
a.
package uniformity
b.
varying quality
c.
advertising economies
d.
efficient sales and distribution
e.
standardized components
B
Changing one or more of a product’s characteristics is called:
a.
product modification
b.
product repositioning
c.
product adjustment
d.
planned obsolescence
e.
product extension
A
Which of the following is an example of a product modification?
a.
Lowering the price of textbooks
b.
Dropping a product from the product line
c.
Changing the color of a laundry detergent
d.
Changing the amount of management time spent overseeing production
e.
Increasing the number of distribution outlets
C
Apple recently updated its iPod Touch product, expanding its storage from 8 GB to 16 GB. Enlarging the iPod Touch’s storage capacity is an example of a:
a.
product modification
b.
brand mix extension
c.
product diversification
d.
brand repositioning
e.
demographic modification
A
Which type of product modification changes a product’s dependability or durability?
a.
Functional
b.
Style
c.
Aesthetic
d.
Quality
e.
Primary
D
A go-cart manufacturer recently added shock absorbers to make the ride in its go-carts smoother. It has not changed its prices. This is a(n) _____ modification.
a.
upsale
b.
style
c.
dysfunctional
d.
repositioning
e.
quality
E
When Honda automobiles first entered the U.S. market, they were small and not very durable. However, over the years, Honda has modified its automobiles to be one of the most dependable cars on the market. This change in dependability and durability is representative of which type of product modification?
a.
Style
b.
Planned obsolescence
c.
Functional
d.
Quality extension
e.
Quality
C
Which type of product modification changes a product’s versatility, effectiveness, convenience, or safety?
a.
Quality
b.
Planned
c.
Functional
d.
Style
e.
Use
C
When Proctor & Gamble removed potentially dangerous dyes and chemicals from its Tide detergent product and introduced Tide Free, the company was making a:
a.
product line contraction
b.
quality modification
c.
aesthetics modification
d.
obsolescence factor
e.
functional modification
E
Which type of product modification is an aesthetic product change?
a.
Functional
b.
Quality
c.
Repositioning
d.
Style
e.
Planned
D
A style modification is a(n):
a.
change in the product’s durability or dependability
b.
safety improvement
c.
aesthetic product change
d.
way to add convenience
e.
improvement in product versatility and effectiveness
C
One of the leading manufacturers of choir robes has added different types of trim and fabric in the making of the robes. The company has not changed its prices. This is a(n) _____ modification.
a.
style
b.
obsolescence
c.
quality
d.
repositioning
e.
upward extension
A
Which of the following statements about planned obsolescence is true?
a.
Environmentalists support planned obsolescence.
b.
A company that is interested in producing a quality product would never engage in planned obsolescence.
c.
Style modification creates planned obsolescence.
d.
Planned obsolescence is not an ethical issue.
e.
All of the statements about planned obsolescence are true
C
A regional utility company needs to change consumers’ perceptions of its current service as being harmful to the environment. Which of the following strategies would best allow the company to accomplish this goal?
a.
Contraction of the number of services offered by the utility company
b.
Adding new services to its product line
c.
Repositioning
d.
Disintermediation
e.
Use of product cannibalization
C
Apple Computer, Inc. recently dropped “Computer” from the company’s name to become Apple, Inc. This was a part of its _____ away from simply being perceived as a computer company.
a.
quality modification
b.
aesthetic modification
c.
demarketing
d.
repositioning
e.
functional extension
D
Over the years Cadillac has become to be thought of as “your grandparent’s car.” The new Cadillac ads showing a beautiful young woman driving a Cadillac along with the statement, “When you turn your car on, does it turn you on?” This is an example of marketing designed to help _____ Cadillac as a car for today’s younger driver.
a.
diversify
b.
reposition
c.
develop
d.
expand
e.
display
B
Adding additional products to an existing product line in order to compete more broadly in the industry is referred to as:
a.
product line extension
b.
product modification
c.
planned obsolescence
d.
repositioning
e.
cannibalization
A
In terms of sales and market share, Rexona is the number one brand of deodorant worldwide. Since its creation in Australia in 1908, it has added an antiperspirant, a stick deodorant, Rexona for Men, Rexona for Women, Rexona for Teens, and Rexona Skin Friendly. These additions are examples of:
a.
product line extensions
b.
product portfolio width adjustments
c.
product item contractions
d.
SBU expansions
e.
product mix widths
A
When Crest introduced Crest for Kids, this was an example of a _____ strategy.
a.
repositioning
b.
product line extension
c.
cannibalization
d.
disintermediation
e.
demarketing
B
Cover Girl and Revlon are both recognized as leading manufacturers of cosmetics. Both companies have recently introduced cosmetics for the over-50 woman who does not have the same concerns as a 20-year-old girl. The introductions of these cosmetics are examples of the implementation of a _____ strategy.
a.
portfolio breadth expansion
b.
product portfolio width adjustment
c.
product item contraction
d.
product line extension
e.
repositioned marketing mix
D
At one point, Heinz made ketchup in multiple colors, including red, green, purple, pink, orange, and teal. While they were popular for a few years, consumers stopped buying the unusual colors and Heinz has dropped back to just making red ketchup. This is an example of the implementation of a _____ strategy.
a.
repositioning
b.
cannibalization
c.
product line extension
d.
product line contraction
e.
divestment
D
A _____ is a name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products.
a.
brand mark
b.
trademark
c.
brand name
d.
UPC
e.
brand
E
A _____ is the part of the brand that can be spoken.
a.
brand equity
b.
service mark
c.
trademark
d.
brand name
e.
certification mark
D
The _____ is the element of a brand that cannot be spoken.
a.
brand mark
b.
trademark
c.
brand equity
d.
quality mark
e.
intangible product
A
A Boston diamond distributor has developed the first branded diamond called Hearts on Fire to help smaller retailers counter the volume jewelers’ aggressive price discounting. This move is meant to:
a.
take away trademark rights
b.
build product identity and customer loyalty
c.
create a catchy phrase to promote diamonds
d.
combat the quality appeal of generic products
e.
combat low-cost production of generic brands
B
The value of company and brand names is referred to as:
a.
brand equity
b.
brand loyalty
c.
brand power
d.
brand equivalency
e.
brand strength
A
According to recent market research, Google is one of the most valuable brands in the world. According to this research, the company and its well-known name are worth about $86 billion. This research indicates that Google has a high:
a.
brand loyalty hierarchy
b.
evoked set
c.
brand quality standard
d.
perceptual expectation
e.
brand equity
E
A(n) _____ refers to a brand that obtains at least a third of its earnings from outside its home country.
a.
evoked set
b.
global brand
c.
equity brand name
d.
master brand
e.
ethnocentric trademark
B
Rexona, marketed by Unilever (a Dutch company), is the world’s number one deodorant brand. The brand is a leader in Europe, South America, Asia, Africa, and the Middle East. Rexona is an example of a:
a.
master brand
b.
global brand
c.
cannibalized brand
d.
standard brand
e.
family brand
B
What is the best generator of repeat sales?
a.
Advertising
b.
Sales promotion
c.
Brand equity
d.
Satisfied customers
e.
Global brand
D
A consumer who consistently and repeatedly purchases the same brand is said to have:
a.
brand loyalty
b.
product equity
c.
product loyalty
d.
product repetition
e.
store loyalty
A
Brand loyalty can:
a.
increase product diffusion
b.
encourage competition
c.
shorten the amount of time a product spends in the maturity stage
d.
help ensure repeat sales
e.
sell a bad product
D
The brand name of a manufacturer is known as a(n) _____ brand.
a.
private
b.
manufacturer’s
c.
individual
d.
captive
e.
family
B
Campbell’s, Nature Valley, Honda, and Lipton products are examples of _____ brands because of who owns them.
a.
manufacturers’
b.
private
c.
family
d.
individual
e.
master
A
A(n) _____ brand is one owned by the wholesaler or retailer.
a.
intermediate
b.
private
c.
generic
d.
corporate
e.
primary
B
Wal-Mart sells many health and beauty aid products under the name Equate. This brand can only be purchased in Wal-Mart stores and is an example of a(n) _____ brand.
a.
manufacturers’
b.
international
c.
family
d.
private
e.
corporate
D
Which type of private label brand carries no evidence of a retailer’s affiliation, is manufactured by a third party, and is sold exclusively at the retailer?
a.
A captive brand
b.
A complementary brand
c.
A cooperative brand
d.
An exclusive brand
e.
A generic brand
A
A small chain of supermarkets in the western United States sells only manufacturers’ brands. Which of the following is one of the arguments you could use to dissuade the supermarket chain owner from selling only manufacturers’ brands?
a.
A well-known manufacturers’ brand will not enhance the chain’s image.
b.
Manufacturers rarely spend money advertising the brand name to consumers.
c.
Manufacturers typically offer a lower gross margin than could be earned on private label brands.
d.
Manufacturers force the chain to carry a large in-store inventory.
e.
Relying on the manufacturer or wholesaler to deliver a national brand quickly is optimistic at best
C
Which of the following statements describes an advantage to retailers associated with developing their own brands?
a.
Dealers must market the brand, thus cutting into the gross margin.
b.
Higher profit margins are available on private brands.
c.
Private brands, particularly those owned by discounters, are perceived to be of a higher quality.
d.
Dealers often buy in large quantities and thus always have a ready supply.
e.
Private brands are normally delivered more promptly by the manufacturer.
B
When a company uses different brand names for different products, it is using _____ branding.
a.
private
b.
generic
c.
compound
d.
family
e.
individual
E
Heinz is a leading global food manufacturer. It manufactures and markets Farleys (baby food), Jack Daniel’s sauces, and Weight Watcher’s diet/slimming meals and supplements. The use of these brand names instead of the Heinz name is an example of a(n) _____ branding strategy.
a.
individual
b.
synergistic
c.
umbrella
d.
family
e.
piggyback
A
Procter & Gamble makes Gain laundry detergent for people who like a strong scent and Dreft for those who want a gentle detergent for their baby’s clothes. It is using a(n) _____ strategy.
a.
individual branding
b.
family branding
c.
combination branding
d.
trademarked branding
e.
private branding
A
When a company markets several different products under the same brand name, it is referred to as a(n) _____ brand.
a.
family
b.
generic
c.
bargain
d.
dealer
e.
umbrella
A
Most people recognize Butterball as a brand of turkey, but Butterball brand is also found on fresh turkey breast cuts, turkey sausages, and ground turkey; lunchmeat cold cuts; fresh marinated bone-in, boneless, and whole chicken; frozen chicken products; and Butterball stuffing and gravy mixes. Butterball uses:
C
Which of the following entails placing two or more brand names on a product or its package?
a.
Family branding
b.
Private branding
c.
Dual-code branding
d.
Co-branding
e.
Complementary branding
D
Maureen purchased a package of Bounce fabric sheets with Febreeze citrus scent. Since both brands were prominently listed on the package, this would be an example of:
a.
equity branding
b.
co-branding
c.
conjunctive branding
d.
private branding
e.
complementary branding
B
Jennifer purchased Cascade 2in1 ActionPacs for her dishwasher. The packaging said the product combines the scrubbing power of Cascade with the grease-fighting power of Dawn dishwashing detergent. What type of co-branding does this product represent?
a.
Cooperative
b.
Complementary
c.
Piggyback
d.
Ingredient
e.
Synergistic
D
Rosa’s husband Phil has a cold. Rosa went to the store to buy something that would help Phil sleep. Rosa purchased Breathe Right nasal strips embedded with Vicks mentholated vapor rub. The package showed both the Breathe Right and the Vicks brand names. This is an example of _____ branding.
a.
equity
b.
ingredient
c.
family
d.
private
e.
functional
B
Which of the following describes cooperative branding?
a.
When advertising identifies a brand as a part that makes up another product
b.
When two brands receive equal treatment, borrowing from each other’s brand equity
c.
When products are advertised together to suggest usage together
d.
When advertising identifies a brand that should not be used with another product
e.
When advertising identifies a family of brands
B
Suppose that ForeverLawn joins Choice Home, a house builder, in a joint promotional campaign. Both Choice Homes and ForeverLawn are equally mentioned in the advertisements and marketing materials. At the end of the campaign, one lucky person will win a Choice Home with a ForeverLawn synthetic lawn. To register, consumers need to visit either ForeverLawn.com or Choicehomes.com. This type of joint promotion is known as _____ branding.
a.
cooperative
b.
ingredient
c.
umbrella
d.
complementary
e.
family
A
Butterball, a well-known brand of turkey, advertised Ocean Spray cranberry sauce in its magazine ads and depicted suggested usage with its turkey. This is an example of which type of co-branding?
a.
Ingredient
b.
Complementary
c.
Family
d.
Captive
e.
Product use
B
A _____ is a legal term indicating the owner’s exclusive right to use a brand name or part of a brand.
a.
trademark
b.
patent
c.
brand
d.
private brand
e.
right of warranty
A
When a product name becomes generic:
a.
the firm must use black-and-white packaging
b.
competitors are prohibited by law from using the trademark
c.
the price will have to drop to appeal to lower-income consumers
d.
the product name is no longer recognized as the exclusive property of one firm
e.
a firm can reapply for exclusive trademark protection at the U.S. Patent Office
D
Kleenex is a well-known brand name of facial tissue. People often refer to Kleenex as if it were the product name. The company that makes Kleenex may someday find its brand name becoming a(n):
a.
equity brand
b.
certified name
c.
trademark
d.
faux brand
e.
generic product name
E
All of the following are functions of packaging EXCEPT:
a.
containing and protecting the product
b.
guaranteeing product quality
c.
facilitating recycling and reducing environmental damage
d.
promoting the product
e.
facilitating product storage, use, and convenience
B
Sherwin-Williams’ Dutch Boy paint has packaging that is getting rave reviews. The new Twist & Pour paint is packaged in an all-plastic gallon container with an easy twist-off lid, comfortable side handle, and even a pouring spout. There’s no other paint product like it on the market. This innovative packaging was most likely designed for which of the following functions?
a.
To facilitate product use and convenience
b.
To contain and protect the product
c.
To reduce environmental damage
d.
To facilitate recycling
e.
To promote the product
A
The two types of package labeling in common usage today are:
a.
informational and persuasive
b.
promotional and nonpromotional
c.
functional and persuasive
d.
government mandated and seller controlled
e.
motivational and required
A
Labels that contain standard promotional claims like “new,” “improved,” and “super” are examples of _____ labels.
a.
descriptive
b.
functional
c.
repositioning
d.
informational
e.
persuasive
E
Labeling that is designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase is referred to as:
a.
informational labeling
b.
persuasive labeling
c.
cognitive labeling
d.
rational labeling
e.
restrictive labeling
A
Statements on Kashi cereals and breakfast bars stating that they have no artificial colors, flavors, or preservatives would most likely be an example of _____ labeling.
a.
primary
b.
required
c.
informational
d.
functional
e.
environmental
C
Mia’s new raincoat contains a label that reads “Professional Dry Clean Only.” This is an example of a(n) _____ label.
a.
data
b.
union mandated
c.
persuasive
d.
informational
e.
functional
D
Which of the following statements about bar codes is true?
a.
Bar codes are also called universal pricing codes (UPCs).
b.
Bar codes were first used in 2000.
c.
Bar codes can be read by optical scanners.
d.
Bar codes cannot be used as a marketing research tool.
e.
All of these statements about bar codes are true.
C
Universal product codes (UPCs) can perform all the following functions EXCEPT:
a.
allow scanners to match codes with brand names, package sizes, and prices
b.
print product and price information on cash register tapes
c.
assist retailers in preparing records of customer purchases
d.
allow retailers to accurately track sales and control inventories
e.
provide the detailed nutritional information required by the FDA
E
Three aspects of packaging that are especially important in international marketing are labeling, aesthetics, and:
a.
price
b.
length of distribution channel
c.
counterfeiting potential
d.
warranties
e.
climate considerations
E
Which type of warranty is a written guarantee?
a.
Complete
b.
Express
c.
Implied
d.
Explicit
e.
Primary
B
Lands’ End, a catalog retailer, offers a written satisfaction guarantee on all merchandise it sells. In other words, Lands’ End gives its customers a(n) _____ warranty.
a.
implied
b.
descriptive
c.
limited
d.
full
e.
express
E
The label on Darwin’s new blazer that reads “Will Not Shrink” is an example of a(n) _____ warranty.
a.
descriptive
b.
limited
c.
implied
d.
express
e.
superfluous
D
The statement on a toothpaste box that brushing twice a day with the paste will remove 90 percent of all tartar from the user’s teeth is an example of a(n):
a.
implied warranty
b.
functional label
c.
UPC disclaimer
d.
express warranty
e.
universal warranty
D
Shane had every reason to believe that the antacid he purchased would relieve his stomach problems if he followed the directions on the box. This is an example of a(n):
a.
implied warranty
b.
functional label
c.
persuasive label
d.
express warranty
e.
universal warranty
A
Under the _____, all sales have an implied warranty.
a.
Label Law
b.
Lanham Act
c.
Bill of Rights
d.
Good Housekeeping Seal
e.
Uniform Commercial Code
E
END PROBLEMS