8440858
Description
Quiz by Chad Collins, updated more than 1 year ago
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Created by Chad Collins
over 7 years ago
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Question 1
Question
When a business expands its product mix, its goal is to accomplish which goal?
Answer
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Appeal to fewer market segments with fewer product options
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Appeal to more market segments with a wider variety of options
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Appeal to existing market segments with a wider variety of options
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Appeal to select market segments using less promotion
Question 2
Question
Sandy opened a small business that carries a very wide variety of products of varying qualities at many different prices. Sandy is losing customers who are disappointed with the selection, quality, and quantity of items. What is lacking in Sandy’s product mix?
Answer
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Consistency
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Breadth
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Depth
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Width
Question 3
Question
Which factor helps a business to determine its product mix?
Answer
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Merchandise breadth and depth
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Size and target market
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Staple goods and regular goods
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Seasonal goods and convenience goods
Question 4
Question
The product mix that a business decides to offer customers help to project which factor about the business?
Answer
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Display themes
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Sales goals
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Service style
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Unique image
Question 5
Question
Which is an example of a company using brand extension?
Answer
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Coca-Cola adding Caffeine-Free Diet Coke
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Winn-Dixie installing an ATM machine in its stores
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Tyson packaging smaller portions of chicken for the elderly
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Kroger adding Blue Bell ice cream to its frozen foods section
Question 6
Question
To appeal to a target market with slightly different needs, a business added a group of related items to its product mix. What is this group of items?
Answer
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Service expansion
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Product replacement
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Line extension
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Product enhancement
Question 7
Question
Due to lackluster sales, the Elba Corporation has decided to eliminate several of its product lines. Elba’s executives hope that by focusing on fewer product lines, they will see more profit. The Elba Corporation should plan to adjust which aspect of its product mix?
Answer
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Depth
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Length
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Width
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Height
Question 8
Question
One way for a business to expand its product mix is by performing which action?
Answer
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Monitoring the product life cycles
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Acquiring another company
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Increasing sales quotas
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Analyzing product width decisions
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