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1.A product may be defined as everything, both favorable and unfavorable, that a person receives in an exchange.

2.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.

3.Convenience products, though inexpensive, still require considerable shopping effort by buyers.

4.Given the many differences in majors available, living options, and image differences, universities would be classified as a heterogeneous shopping product for most people.

5.Inez believes 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.

6.Rolex watches are very expensive, can only be purchased in high-end jewelry stores located in large metropolitan areas, and most buyers will accept no substitutes. Rolex watches are an example of a shopping product.

7.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.

8.Coca-Cola is on 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.

9.Product modification occurs when changes are made in how the product functions, its quality, or some aesthetic characteristic of the product.

10Chef'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.

11. 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.

12.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. He plans to use this design on all communications the firm sends out. This design is called the firm's brand name. 13.Branding has three main purposes: product identification, repeat sales, and new-product sales.

14.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.

15.Sam likes Michelin tires. If he needs new tires and Michelin’s 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.

16.Retailers love national brands because overhead is low and there are no marketing costs, and they bring higher margins than private brands.

17.When the manufacturer of French's classic yellow mustard introduced French's Dijon mustard, French's Honey mustard, and French's Sweet Onion mustard, it was an example of cobranding.

18.Trademark protection only lasts for five years.

19.The most important functions of packaging are to contain and protect products, promote products, facilitate product storage, and facilitate recycling.

20.The nutrition label on a package is an example of persuasive labeling.

21.Due to the time required to scan them, universal...
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