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123. T F A product need not be a physical product.

124. T F A service is intangible and is the result of the application of human or mechanical efforts to people or objects.

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125. T F Supporting services, such as installation and guarantees, are part of a product.

126. T F The core product element of the total product can include installation, delivery, training, and financing.

127. T F The atmosphere and décor of a retail store, the variety and depth of product choices, the customer support, even the sounds and smells all contribute to the experiential element of its total product.

128. T F The buyer’s intent can determine whether an item is classified as a consumer or a business product.

129. T F Use of the product is the most important means of distinguishing consumer products from business products.

130. T F The two major product categories are business and institutional.

131. T F A product’s classification can influence its price, distribution, and promotion.

132. T F Bread is usually a convenience product.

133. T F Consumers are reluctant to purchase substitute brands if a desired brand of a convenience product is unattainable.

134. T F Unfinished furniture is considered to be a convenience product because it is relatively inexpensive.

135. T F Per-unit gross margins on convenience products are relatively high.

136. T F The gross margin percentage on convenience goods is usually fairly high because they are low-priced items.

137. T F Buyers want to exert only minimal effort to obtain shopping products.

138. T F Service, repair work, and accessories may be important considerations in a consumer’s decision to purchase a particular shopping product.

139. T F Obtaining a specialty product involves a considerable amount of comparison activity.

140. T F Accessory equipment becomes a part of the finished product.

141. T F Component parts usually need to be processed significantly before they are used in production.

142. T F Process materials are used directly in the production of products.

143. T F “Business Services” is not a category or type of business product.

144. T F A product line is a particular version of a product that can be designated as a distinct offering on the organization’s list of products.

145. T F A product line includes a group of closely related product items that are considered to be a unit because of marketing, technical, or end-use considerations.

146. T F Product mix refers to a related group of products in the product line.

147. T F The depth of a product mix is measured by the average number of product types in a product line.

148. T F The width of a product mix refers to the number of generic products offered by a company.

149. T F A product mix is the composite or total group of products that an organization makes available to customers.

150. T F Procter & Gamble has a wider product mix than does Baskin Robbins.

151. T F The original marketing strategy should not be altered in any way as a product travels through the stages of the product life cycle because consumers can become confused.

152. T F Many products never get beyond the introduction stage.

153. T F Communicating product benefits to consumers is very important in the introduction stage.

154. T F New products seldom generate enough sales to bring immediate profits.

155. T F Price cuts are typical in a product’s growth stage.

156. T F During the growth stage, promotion costs rise as a percentage of total sales.

157. T F Intensive competition causes price increases during the growth stage of the product life cycle.

158. T F Distribution outlets become more difficult to secure during the growth stage of a product’s life cycle because of aggressive competition.

159. T F Intense price wars are likely to occur during the growth stage of the product life cycle as competitors attempt to gain market share.

160. T F Profits decline in the maturity stage, largely because of increased competition.

161. T F A seller’s profits peak in the maturity stage of a product’s life cycle.

162. T F Sales peak in a product’s maturity stage.

163. T F Many products are in the maturity stage of the product life cycle.

164. T F Changing the product’s quality is a distinct alternative in the maturity stage of the product life cycle.

165. T F The marketing mix should be left alone during the maturity stage of the product life cycle; tampering with it may bring an early death to the product.

166. T F During a product’s maturity stage, all sales promotion efforts are focused on consumers.

167. T F Strategies relating to price become more mixed during a product’s maturity stage.

168. T F A business can justify keeping a product as long as it contributes to profits or enhances the effectiveness of a product mix.

169. T F Sometimes new marketing channels open up in the decline stage.

170. T F Promotion decreases in importance during a product’s decline stage.

171. T F Advertising used in the decline stage may prolong the life of the product.

172. T F Sellers can sometimes prolong a product’s life cycle.

173. T F When an organization introduces a new product, people do not all begin the adoption process at the same time, nor do they move through the process at the same speed.

174. T F Trial is the first stage of the product adoption process.

175. T F A buyer becomes aware of the product during the evaluation phase of the product adoption process.

176. T F In the awareness stage of the product adoption process, the buyer seeks information about the product.

177. T F “The people to check with” are the early adopters.

178. T F The first adopters of a product are the innovators.

179. T F Early adopters are the first group of consumers to adopt a new product.

180. T F Laggards are the last to adopt a new product and usually distrust new products.

181. T F One of the most common reasons new products fail is because of a company’s failure to match product offerings to customer needs.

182. T F Being a product pioneer guarantees a product’s success.

183. T F The success of launching a new product is based primarily on luck.

184. T F When a successful brand such as Frito-Lay develops a new product, it will always succeed.

185. T F Failure of a new product is always absolute.

186. T F If a company repositions a relative product failure, that product might become a successful member of the product line.

187. T F Following a consistent customer-focused plan does not help new products become successful.

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