Question 1

Milk, fuel, bread, and other examples of life\'s necessities are specialty offering.

Accepted Answer

FALSE

Question 2

A brand extension involves the creation of a brand and then positioning it in the mind of the consumer.

Accepted Answer

FALSE

Question 3

A brand is used by a seller to differentiate its offerings from that of the competitors.

Accepted Answer

TRUE

Question 4

Cannibalization occurs when a new product reduces the sales of similar products of a competing brand.

Accepted Answer

FALSE

Question 5

A brand extension involves the introduction a new brand with its own product line.

Accepted Answer

FALSE

Question 6

Packaging can add value to your product.

Accepted Answer

TRUE

Question 7

Brand managers are found more commonly in B2B companies than in B2C companies.

Accepted Answer

FALSE

Question 8

Offerings are _____.

Accepted Answer

products and services designed to deliver value to customers

Question 9

The entire assortment of products that a firm offers is known as the _____.

Accepted Answer

PRODUCT MIX

Question 10

A brand is _____.

Accepted Answer

a name, picture, design, or symbol used by a seller to differentiate their offerings

Question 11

When a feature satisfies a need or want, then there is a ______.

Accepted Answer

BENEFIT

Question 12

A product-dominant approach to marketing is based on the belief that:

Accepted Answer

the best way to capture market share is to create and manufacture better products at lower prices.

Question 13

A _____ approach to determining the value of an offering would include the time and effort related to owning a product, in addition to the benefits received, the price, and hassle

Accepted Answer

total cost of ownership (TCO)

Question 14

_____ refers to an approach to offerings that integrates the physical product, attendant services, and price into the total offering._____ refers to an approach to offerings that integrates the physical product, attendant services, and price into the total offering.

Accepted Answer

Service-dominant

Question 15

_____ refers to the physical component of an offering.

Accepted Answer

Core product

Question 16

A group of related offerings is known as a _____.

Accepted Answer

Product line

Question 17

The number of different or distinct product lines offered by a company is known as ______.

Accepted Answer

Line breadth

Question 18

_____ refers to products, or parts, sold by one manufacturer to another that get built into a final product without further modification.

Accepted Answer

Original equipment manufacturing offerings

Question 19

A successful branding strategy:

Accepted Answer

creates consumer recognition of what the brand means

Question 20

_____ occurs when a firm\'s new offering eats into the sales of one of its older offerings.

Accepted Answer

CANNIBALIZATION

Question 21

Vertical market managers are found only in _____ markets.

Accepted Answer

B2B

Question 22

In B2B companies, why do the marketing departments adopt a vertical market structure?

Accepted Answer

The buying needs and processes are likely to be similar within an industry

Question 23

A _____ is the person responsible for all business decisions regarding offerings within one brand.

Accepted Answer

Brand manager

Question 24

A _____ is a finished good that still has to be incorporated into something else to be usable.

Accepted Answer

MANUFACTURED MATERIAL

Question 25

A _____ is one for which the consumer will make an effort to compare and select a brand.

Accepted Answer

SHOPPING OFFERING

Question 26

A _____ is responsible for a broad group of offerings, such as home cleaning products, which have various brands within each group.

Accepted Answer

CATEGORY MANAGER

Question 27

A consumer opts not to buy Brand B of potato chips when the grocery store is out of Brand A because it is a shopping offering in the eyes of the consumer.

Accepted Answer

TRUE

Question 28

A frequently purchased product that requires little shopping effort is known as an impulse offering.

Accepted Answer

FALSE

Question 29

A manufactured material has been processed into a finished good and is a stand-alone product.

Accepted Answer

FALSE

Question 30

A service is the tangible component of an offering.

Accepted Answer

FALSE

Question 31

A symbol or logo used to identify a brand is known as a _____.

Accepted Answer

BRAND MARK

Question 32

A(n) _____ is a characteristic of an offering.

Accepted Answer

FEATURE

Question 33

After trying out different brands of toothbrushes, Martin has decided that he prefers Oral B the most. Whenever he is out grocery shopping, he always purchases several of these toothbrushes, to stock up in case the store runs out of it in the future. To Martin, Oral B toothbrushes are _____ offerings.

Accepted Answer

SHOPPING OFFERING

Question 34

An Original equipment manufacturer OEM purchases raw materials, manufactured materials, and component parts and puts them together to make a final product.

Accepted Answer

TRUE

Question 35

An example of a brand mark is the Coca-Cola logo.

Accepted Answer

TRUE

Question 36

At the check-out counter of the convenience store, Laura is given several nickels and dimes as change. Laura hates carrying so much change in her purse so she decides to buy a packet of chewing gum that she spies next to the cash register, at the last minute. In this instance, the chewing gum is a(n) _____.

Accepted Answer

IMPULSE OFFERING

Question 37

At the retail level, a category manager at each store is responsible for one manufacturer\'s products.

Accepted Answer

FALSE

Question 38

Bill never thought that he would need windshield repair, until he got involve in a minor accident. Now he is trying to find a place that will repair the huge crack in his windshield at a low cost. To Bill windshield repairs are _____ offerings.

Accepted Answer

UNSOUGHT

Question 39

Facilitating offerings are products and services a company purchases to support its operations but are not part of the firm\'s final product.

Accepted Answer

TRUE

Question 40

Holden, Inc. is an advertising agency. Their clients are other businesses that hire them to create advertising campaigns. Which of the following types of offerings does Holden offer?

Accepted Answer

Facilitating offerings

Question 41

Ideally when you sell a new product, you hope that all of its sales come from your competitor\'s customer base or customers new to the market.

Accepted Answer

TRUE

Question 42

In the B2B market, banking and transportation services are types of _____.

Accepted Answer

facilitating offerings

Question 43

Jenna has always wanted to own a red Ferrari sports car. She has been saving up for years to buy it. Jenna views the Ferrari as a(n) _____.

Accepted Answer

SPECIALTY OFFERING

Question 44

Line depth refers to whether the product line is broad or narrow.

Accepted Answer

TRUE

Question 45

Manufacturing, repair, and operations offerings are those that keep a company\'s depreciable assets in working order

Accepted Answer

FALSE

Question 46

Market managers are likely to be tasked with implementing a product or the brand manager\'s strategy.

Accepted Answer

TRUE

Question 47

Market managers have the most flexibility in terms of pricing and product decisions.

Accepted Answer

FALSE

Question 48

Marketers use intensive distribution strategies to ensure consumers see convenience offerings at the right time.

Accepted Answer

TRUE

Question 49

Marketing _____ can be very challenging because many people within a firm are involved in the buying decision for these types of products.

Accepted Answer

capital equipment offerings

Question 50

Marketing of _____ items is often limited to simply trying to get the product in as many places as possible where a purchase could occur.

Accepted Answer

Convenience offerings

Question 51

Packaging can be part of the brand.

Accepted Answer

TRUE

Question 52

Price entails how much money a customer gives up to obtain an offering.

Accepted Answer

FALSE

Question 53

Redmond Inc. is a company that builds and supplies windshields to automobile companies. These windshields are then built into the cars. Which of the following types of offerings characterizes the windshields?

Accepted Answer

Original equipment manufacturer offerings

Question 54

Secondary packaging holds a single retail unit of a product.

Accepted Answer

FALSE

Question 55

The categories in which consumer offerings are placed are based on the characteristic of the offerings themselves.

Accepted Answer

FALSE

Question 56

The entire assortment of products that a firm offers is called the product line.

Accepted Answer

FALSE

Question 57

The fact that many consumers would not consider shopping for a taillight until it is in need of repair is an example of an unsought offering.

Accepted Answer

TRUE

Question 58

The total amount someone pays to own, use, and eventually dispose of a product is the TCO.

Accepted Answer

TRUE

Question 59

Vertical market managers are found mainly in B2B markets.

Accepted Answer

TRUE

Question 60

When new product is added to a product line, the line breadth of the company is increased.

Accepted Answer

FALSE

Question 61

Which of the following is an advantage of organizing in a vertical market structure in B2B markets?

Accepted Answer

Marketing is more efficient because channels of communication are likely to be the same within an industry but different across industries.

Question 62

Which type of manager has the most marketing responsibility?

Accepted Answer

BRAND MANAGER

Question 63

Why are brand names and brand marks important to companies?

Accepted Answer

consumers use them to make choices.

Question 64

William is not particular about the brand of rice that he buys. He will buy any brand that he finds at the nearest store. To William, rice is a(n) _____.

Accepted Answer

Convenience offering

MKT 201 CH. 6 Creating Offerings – Flashcards

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