Tag: product

Questions Related to product

Items, considered part of the augmented product, do not include________. 

commercial studies marketing and sales difference between products and services product marketing

  1. Guarantee

  2. Warranty

  3. Complementary products

  4. Channels of distribution

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Correct Option: D

If the conversion period is arrived at as 10, it means ____________________.

commercial studies marketing and sales difference between products and services product marketing

  1. It takes 10 days to convert the raw materials to finished goods

  2. 10 days cost of production is held on an average as WIP

  3. Raw materials which can be consumed in 10 days are held in WIP.

  4. Both (A) and (B) above

  5. Both (A) and (C) above

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Correct Option: D
Explanation:

Conversion period or work-in-progress (WIP) period indicates the time taken for converting the raw materials to finished goods, it also indicates the number of days the cost of production is held on an average as WIP.

________ products are the products in the purchase of which, consumers devote considerable time.

commercial studies marketing and sales difference between products and services product marketing

  1. Consumer

  2. Sales

  3. Shopping

  4. Industrial

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Correct Option: C
Explanation:

Shopping products are a higher end products occasionally bought by consumers that are usually compared for their appropriateness, quality, cost and features before making a purchase decision. Consumers tend to take more time when purchasing a shopping good produced by a business, and they might even travel to buy such products.

_______ are the products which are purchased frequently.

commercial studies marketing and sales difference between products and services product marketing

  1. Consumer

  2. Industrial

  3. Convenience

  4. Services

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Correct Option: C
Explanation:

Convenience goods are a sub category of consumer goods. Convenience goods are the inexpensive frequent purchases, there s little efforts needed to purchase them. it includes food, toiletries and confectionery goods. Such goods are widely available. 

On the basis of durability, consumer goods are classified in four categories.

commercial studies marketing and sales difference between products and services product marketing

  1. True

  2. False

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Correct Option: B
Explanation:

A product is an item offered for sale. It can be an item or a service, virtual or cyber form. Consumer products are the merchandise or other items of common and daily use ordinarily bought by individuals or house holds  for private consumption. Consumer goods are classified in three categories i.e convenience goods, shopping goods, specialty goods  on the basis of buying behaviour of the consumer towards these goods.

_______ products are the products which are used as an input to produce other products.

commercial studies marketing and sales difference between products and services product marketing

  1. Shopping

  2. Convenience

  3. Consumer

  4. Industrial

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Correct Option: D
Explanation:

An industrial product is a good used by a company for business consumption. it is distinct from a consumable goods, which is purchased by individuals for personal and family consumption. It is a product sold by one company to another company to carry out production function.It is a B2B product.

______ products are the products which have certain special features because of which people make special efforts while purchasing such products.

commercial studies marketing and sales difference between products and services product marketing

  1. Special

  2. Shopping

  3. Expensive

  4. Consumer

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Correct Option: A
Explanation:

Special goods are a classification of consumer goods. Special goods are purchased with a predetermined pattern in mind. Special goods can be refereed to as an item that is extraordinary or unique enough to motivate people to make an extra effort to purchase it  The buyers are willing to spend a lot of money and time to purchase it in comparison to the shopping goods.

Our decision to buy a product is not only affected by its physical qualities but also its tangible and ___________ factors.

commercial studies marketing and sales difference between products and services product marketing

  1. Non tangible

  2. Psychological

  3. Sociological

  4. Economical

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Correct Option: B

Which of the following is not a characteristic of industrial products? 

commercial studies marketing and sales difference between products and services product marketing

  1. Number of buyers

  2. Channel levels

  3. Convenience

  4. Derived demand

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Correct Option: C
Explanation:

An industrial product is a good used by a company for business consumption. it is distinct from a consumable goods, which is purchased by individuals for personal and family consumption. It is a product sold by one company to another company to carry out production function.It is a B2B product. The number of buyers are limited and predetermined. it is one the first level of channel distribution and made only on demand.

The series of activities undertaken to create a product or deliver a service is called a _________.

commercial studies marketing and sales difference between products and services product marketing

  1. strategy

  2. business function

  3. financial Management

  4. transformation process

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Correct Option: B