Question 1

Karen McMasters grew her business on eBay to over $3.5 million in sales in 2007 selling _____.

Accepted Answer

A)   organic canned vegetables
B)   baby products
C)   highly specialized quilts
D)   home made soap

Question 2

Joe Kott has established a successful formed cement products business by developing an inventory control method and delivery service that gets products to construction sites faster than his rivals. If Kott continues to improve this system and stay ahead of his competitors, it can be a source of

Accepted Answer

A)   sustainable competitive advantage.
B)   total quality management.
C)   business process reengineering.
D)   competitive adjustment.

Question 3

Name the six categories of major product strategies.

Accepted Answer

The answer of Name the six categories of major product...

Question 4

Import Properties, a small firm that imports trade goods from South America, ships purchased goods on one of two company-owned vessels. Import Properties operates as a

Accepted Answer

A)   common carrier.
B)   public carrier.
C)   private carrier.
D)   contract carrier.

Question 5

To maintain it performance, the small business must launch a new competitive advantage

Accepted Answer

A)   and keep that competitive advantage alive.
B)   and make adjustments to that competitive advantage over time.
C)   that rival firms can see and respond to.
D)   before the current strategy has run its course.

Question 6

____ encompasses both the physical movement of products and the establishment of intermediary relationships.

Accepted Answer

A)   Logistics
B)   Distribution
C)   Physical distribution
D)   Marketing management

Question 7

Small businesses can protect their intangible assets by means of any of the following except

Accepted Answer

A)   trademarks.
B)   patents.
C)   copyrights.
D)   formal redress.

Question 8

A firm's competitive advantage will never

Accepted Answer

A)   last forever.
B)   be duplicated by competitors.
C)   lead to superior performance.
D)   cost as much to develop as anticipated.

Question 9

A copyright notice should include

Accepted Answer

A)   the symbol (c) .
B)   the date the work was published.
C)   the name of the copyright owner's company.
D)   a listing of all other copyrights held by the owner.

Question 10

It is important that small firms gain a competitive advantage, which cannot be quickly imitated.

Accepted Answer

A) True 
 B)False

Question 11

The below listed outcomes are all "fruits" of competitive advantage except

Accepted Answer

A)   superior profitability
B)   increased market share
C)   lowered financial risk
D)   improved customer satisfaction

Question 12

A copyright provides protection for the duration of the creator's life, plus

Accepted Answer

A)   25 years.
B)   70 years.
C)   75 years.
D)   100 years.

Question 13

The distinctive operating image of a product, including features such as size, shape, color or color combinations, texture, graphics, or even particular sales techniques, can be protected

Accepted Answer

A)   by copyright.
B)   by patent.
C)   as trade dress.
D)   as a registered concept.

Question 14

Explicit functions of packaging include all of the following except

Accepted Answer

A)   increasing the quality of the total product.
B)   distinguishing the product from competitors' products.
C)   influencing customers.
D)   protecting the product.

Question 15

Technologies Limited, a small producer of closed-circuit, handheld radio communication devices marketed to contractors (walkie-talkies) , wants to expand. Using its knowledge of communication technologies, it developed a cellular-based phone system designed for contractors. Technologies Limited is employing a _____ product strategy.

Accepted Answer

A)   multiple products/one market
B)   multiple products/multiple markets
C)   modified product/one market
D)   modified product/multiple markets

Question 16

The collection of product lines within a firm's ownership and control is referred to as the

Accepted Answer

A)   product depth.
B)   product accumulation.
C)   product line consistency.
D)   product mix.

Question 17

Strategies for goods marketing and services marketing are essentially identical.

Accepted Answer

A) True 
 B)False

Question 18

Every new product must be carefully analyzed in terms of financial considerations in the _____ stage of the product development process.

Accepted Answer

A)   business analysis
B)   idea accumulation
C)   product testing
D)   total product development

Question 19

Which of the following is not true with respect to labeling?

Accepted Answer

A)   It shows the product brand.
B)   It is an informative tool for consumers.
C)   It should include only the minimum legal requirements.
D)   It should emphasize brand visibility.

Question 20

Delivery terms specify which party pays the freight costs, selects carriers, bears the risk of damage, and selects the modes of transport.

Accepted Answer

A) True 
 B)False

Exam 15: Product and Supply Chain Management

Small businesses can protect their intangible assets by means of any of the following except

Correct Answer
verified

The below listed outcomes are all "fruits" of competitive advantage except

Correct Answer
verified

A firm's competitive advantage will never

Correct Answer
verified

Correct Answer
verified

____ encompasses both the physical movement of products and the establishment of intermediary relationships.

Correct Answer
verified

Karen McMasters grew her business on eBay to over $3.5 million in sales in 2007 selling _____.

Correct Answer
verified

Name the six categories of major product strategies.

Correct Answer
verified

Explicit functions of packaging include all of the following except

Correct Answer
verified

A copyright provides protection for the duration of the creator's life, plus

Correct Answer
verified

The distinctive operating image of a product, including features such as size, shape, color or color combinations, texture, graphics, or even particular sales techniques, can be protected

Correct Answer
verified

It is important that small firms gain a competitive advantage, which cannot be quickly imitated.

Correct Answer
verified

To maintain it performance, the small business must launch a new competitive advantage

Correct Answer
verified

Which of the following is not true with respect to labeling?

Correct Answer
verified

Strategies for goods marketing and services marketing are essentially identical.

Correct Answer
verified

Delivery terms specify which party pays the freight costs, selects carriers, bears the risk of damage, and selects the modes of transport.

Correct Answer
verified

The collection of product lines within a firm's ownership and control is referred to as the

Correct Answer
verified

Import Properties, a small firm that imports trade goods from South America, ships purchased goods on one of two company-owned vessels. Import Properties operates as a

Correct Answer
verified

A copyright notice should include

Correct Answer
verified

Every new product must be carefully analyzed in terms of financial considerations in the _____ stage of the product development process.

Correct Answer
verified

Joe Kott has established a successful formed cement products business by developing an inventory control method and delivery service that gets products to construction sites faster than his rivals. If Kott continues to improve this system and stay ahead of his competitors, it can be a source of

Correct Answer
verified

Exam 15: Product and Supply Chain Management

Small businesses can protect their intangible assets by means of any of the following except

Correct AnswerverifiedShow Answer

The below listed outcomes are all "fruits" of competitive advantage except

Correct AnswerverifiedShow Answer

A firm's competitive advantage will never

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

____ encompasses both the physical movement of products and the establishment of intermediary relationships.

Correct AnswerverifiedShow Answer

Karen McMasters grew her business on eBay to over $3.5 million in sales in 2007 selling _____.

Correct AnswerverifiedShow Answer

Name the six categories of major product strategies.

Correct AnswerverifiedShow Answer

Explicit functions of packaging include all of the following except

Correct AnswerverifiedShow Answer

A copyright provides protection for the duration of the creator's life, plus

Correct AnswerverifiedShow Answer

The distinctive operating image of a product, including features such as size, shape, color or color combinations, texture, graphics, or even particular sales techniques, can be protected

Correct AnswerverifiedShow Answer

It is important that small firms gain a competitive advantage, which cannot be quickly imitated.

Correct AnswerverifiedShow Answer

To maintain it performance, the small business must launch a new competitive advantage

Correct AnswerverifiedShow Answer

Which of the following is not true with respect to labeling?

Correct AnswerverifiedShow Answer

Strategies for goods marketing and services marketing are essentially identical.

Correct AnswerverifiedShow Answer

Delivery terms specify which party pays the freight costs, selects carriers, bears the risk of damage, and selects the modes of transport.

Correct AnswerverifiedShow Answer

The collection of product lines within a firm's ownership and control is referred to as the

Correct AnswerverifiedShow Answer

Import Properties, a small firm that imports trade goods from South America, ships purchased goods on one of two company-owned vessels. Import Properties operates as a

Correct AnswerverifiedShow Answer

A copyright notice should include

Correct AnswerverifiedShow Answer

Every new product must be carefully analyzed in terms of financial considerations in the _____ stage of the product development process.

Correct AnswerverifiedShow Answer

Joe Kott has established a successful formed cement products business by developing an inventory control method and delivery service that gets products to construction sites faster than his rivals. If Kott continues to improve this system and stay ahead of his competitors, it can be a source of

Correct AnswerverifiedShow Answer

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