Types of Services and Consumer Products Quiz
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Questions and Answers

Which type of product is characterized as having a basic physical appearance and precise specifications?

  • Augmented product
  • Durable goods
  • Tangible product (correct)
  • Generic product

    • What category does car insurance fall into?

  • Goods
  • Services (correct)
  • Tangible products
  • Durable goods

    • Which type of goods are used over a long period of time?

  • Augmented goods
  • Non-durable goods
  • Services
  • Durable goods (correct)

    • What do non-durable goods have in common?

    <p>Quick consumption</p> Signup and view all the answers

    Which of the following best describes rented-goods services?

    <p>Facility renting service</p> Signup and view all the answers

    What type of product emphasizes the impact on the consumer rather than the seller?

    <p>Generic product</p> Signup and view all the answers

    What factor should entrepreneurs consider when deciding to offer fragile products?

    <p>Costs of shipping, inventory, and customer service</p> Signup and view all the answers

    What does the text suggest is a benefit of having a consumable or disposable product?

    <p>Opportunity to earn consumer trust and build repeat sales</p> Signup and view all the answers

    What impact does fragility have on the costs associated with offering a certain product?

    <p>Increases shipping, inventory, and customer service costs</p> Signup and view all the answers

    In terms of SKUs, what does 'SKU' typically refer to?

    <p>Color, size, and other variations of a single product</p> Signup and view all the answers

    What is one advantage of durable products in terms of shipping and customer service?

    <p>They are easier to store</p> Signup and view all the answers

    How can having multiple SKUs impact an entrepreneur's business?

    <p>Requires more attention, time, and money for tracking and maintaining</p> Signup and view all the answers

    What distinguishes Convenience Products from Shopping Products?

    <p>Consumers have knowledge of Shopping Products' characteristics prior to purchase, but not for Convenience Products.</p> Signup and view all the answers

    Which category of Consumer Products involves items with particular brands and stores that consumers are loyal to?

    <p>Specialty Products</p> Signup and view all the answers

    What is the primary characteristic of Durable Goods?

    <p>They have long lifespans and can be used repeatedly over an extended period.</p> Signup and view all the answers

    What is the main difference between Owned-Goods Services and Non-Goods Services?

    <p>Owned-Goods Services involve repair and maintenance, while Non-Goods Services involve personal services.</p> Signup and view all the answers

    In a Product Viability Analysis, what factor should be considered regarding the size and weight of a product?

    <p>Large, awkwardly shaped, or heavy products result in high shipping costs.</p> Signup and view all the answers

    What makes Specialty Products unique compared to Convenience and Shopping Products?

    <p>Specialty Products involve particular brands and stores that consumers are loyal to.</p> Signup and view all the answers

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