MKT 501 Quiz

1) According to the text, a product is

A)everything the customer receives in an exchange.

B)the physical object the customer receives in an exchange.

C)the service that is rendered to a customer.D)the idea that the customer receives in an exchange.

E)goods and services the customer receives in an exchange.



2) A light bulb can be considered all of the following EXCEPT

A)a consumer product.

B)an business-to-business product.

C)either a consumer product or an industrial product.

D)an industrial product if it is used to light an assembly line in a factory.

E)a consumer product if it is used to light the office of the board of directors.



3) An example of a convenience consumer product is

A)stereo equipment.

B)petrol.

C)a motorcycle.

D)a bicycle.

E)athletic shoes.




4) Sue North called several airlines to compare rates and chose a flight on British Midland as it had a better reputation for service and competitive prices. The airline ticket is an example of which type of product?

A)convenience

B)shopping

C)specialty

D)unsought



5) Products that are relatively inexpensive and are purchased frequently with minimal effort can be classified as ___________ products.

A)shopping

B)convenience

C)industrial

D)specialty

E)unsought



6) Industrial products are

A)purchased for personal consumption.

B)frequently purchased for both their functional aspects and their psychological rewards.

C)traditionally classified according to their characteristics and intended uses.

D)not purchased by nonbusinessorganisations.



7) Large tools and machines used in a production process for a considerable length of time are classified as

A)major equipment.

B)accessory equipment.

C)component parts.

D)raw materials.

E)consumable supplies.



8) Items that are purchased routinely, do not become part of the final physical product, and are treated like expense items rather than capital goods are called

A)raw materials.

B)major equipment.

C)accessory equipment.

D)component parts.

E)process materials.



9) Products that are used directly in the production of a final product but are not easily identifiable arecategorised as

A)accessory products.

B)component parts.

C)consumable supplies.

D)assembly components.

E)process materials.



10) Which one of the following is NOT an industrial product?

A)oil to be refined into fuel for homes

B)transistors used as components for portable radios