Marketing - Study Mode

[#306] An example of a convenience consumer product is
Correct Answer

(B) Petrol

Explanation

Solution: An example of a convenience consumer product is Petrol. A convenience product is a consumer product or service that customers normally buy frequently, immediately and without great comparison or buying effort.

[#307] Which one of the following is NOT an industrial product?
Correct Answer

(D) Computer software to help people complete personal tax forms

Explanation

Solution: Computer software to help people complete personal tax forms is NOT an industrial product. An industrial product is a good used by a company for business consumption.

[#308] Sai Nath called several airlines to compare rates and chose a flight on British Midland as it had a better reputation for service and competitive prices. The airline ticket is an example of which type of product?
Correct Answer

(B) Shopping

Explanation

Solution: The airline ticket is an example of which type of product Shopping. Shopping products refer to items that the consumers purchase less frequently and compare with available alternatives in the market. Consumers need time, planning and efforts to take the final decision whether to buy the product or not.

[#309] Large tools and machines used in a production process for a considerable length of time are classified as
Correct Answer

(A) Major equipment

Explanation

Solution: Large tools and machines used in a production process for a considerable length of time are classified as Major equipment. Process equipment can be used for tasks a varied as storage, controlling flow, and containing chemical reactions.

[#310] Items that are purchased routinely, do not become part of the final physical product, and are treated like expense items rather than capital goods are called
Correct Answer

(C) Accessory equipment

Explanation

Solution: Items that are purchased routinely, do not become part of the final physical product, and are treated like expense items rather than capital goods are called Accessory equipment. Accessory equipment needs to be used in the production process in any business firm.