Question 1

The three levels of brand loyalty are preference,recognition,and insistence.

Accepted Answer

A) True 
 B)False

Question 2

The stage in the evolution of new products in which ideas that match company objectives are analyzed as to whether the firm has the required expertise for the product's development and marketing is called

Accepted Answer

A)   exploration.
B)   test marketing.
C)   screening.
D)   product development.
E)   business analysis.F) A) and E)
G) A) and C)

Question 3

Identify and describe the major stages of the product life-cycle.

Accepted Answer

The four stages of the product life-cycl...

Question 4

The depth of a product mix is a measure of the average number of individual products within each line.

Accepted Answer

A) True 
 B)False

Question 5

Packages have marketing value but no functional value.

Accepted Answer

A) True 
 B)False

Question 6

When might a firm use a price-skimming strategy? When might it use penetration pricing? Describe each strategy.

Accepted Answer

Price skimming is the strategy of chargi...

Question 7

Car Tunes,a national car stereo retailer,markets stereos and speakers.The company will soon sell car alarms and cellular phones to ____ its product mix.

Accepted Answer

A)   modify
B)   broaden
C)   narrow
D)   customize
E)   adaptF) C) and E)
G) C) and D)

Question 8

Save Textbooks Inc.includes the cost of delivery in the pricing strategy when selling textbooks to school districts.What type of pricing strategy is it using?

Accepted Answer

A)   Discounting
B)   Transfer pricing
C)   Geographic pricing
D)   Captive pricingE) B) and C)
F) All of the above

Question 9

If Nordstrom sales associates are there to greet you as soon as you walk through the door,to assist you personally in finding the merchandise you are looking for,and to inform you about the store's events and services,the company is striving to compete on

Accepted Answer

A)   quality.
B)   service.
C)   promotion.
D)   price.
E)   distribution.F) None of the above
G) A) and E)

Question 10

Janie,a farmer,sells a dozen ears of corn to her neighbor for $1/dozen.She sells a dozen ears of corn to the small market down the street for $.75/dozen.She sells corn to the chain grocery store in town for $.50/dozen.Janie is using

Accepted Answer

A)   differential pricing.
B)   discriminatory pricing.
C)   price skimming.
D)   illegal pricing.E) B) and D)
F) B) and C)

Question 11

The total amount received from the sales of a product is referred to as

Accepted Answer

A)   total revenue.
B)   the breakeven quantity.
C)   variable sales.
D)   market revenue.
E)   marginal revenue.F) C) and E)
G) All of the above

Question 12

Even if a grocery item is a generic product,a consumer can tell who produced it by examining the package carefully.

Accepted Answer

A) True 
 B)False

Question 13

When price helps Jaime decide to purchase a Chevrolet Cavalier instead of a Mercedes because she also wants a Harley-Davidson motorcycle,price serves the function of

Accepted Answer

A)   demander.
B)   decision maker.
C)   facilitator.
D)   intermediation.
E)   allocator.F) A) and C)
G) A) and B)

Question 14

DeAngelo went to the store to purchase groceries.By the time he reached the paper products aisle,he was down to his last few dollars but he desperately needed paper towels.After surveying the aisle,he bought a package that was labeled "Paper Towels" with no other designations.What brand of paper towels did he purchase?

Accepted Answer

A)   Brand name
B)   Manufacturer brand
C)   Store brand
D)   Generic brandE) A) and B)
F) A) and C)

Question 15

Appliances,stereos,and furniture are all considered specialty products.

Accepted Answer

A) True 
 B)False

Question 16

The price floor is the lowest price at which a producer can sell its product without incurring a loss.

Accepted Answer

A) True 
 B)False

Question 17

What do yo-yo,aspirin,and thermos all have in common in a marketing sense?

Accepted Answer

A)   They were all once brand names that have since been declared generic terms.
B)   They are all heavily promoted during daytime television.
C)   They are examples of functional product modification.
D)   They have extremely high brand loyalty.
E)   They are all examples of private-label brands.F) A) and B)
G) C) and E)

Question 18

An early-bird special offered by a restaurant during off-peak hours is an example of a secondary-market pricing strategy.

Accepted Answer

A) True 
 B)False

Question 19

Fiona collects antique Fabergé eggs.For most of these eggs,only one or a few were created of each design.These eggs would best be classified as ____ products.

Accepted Answer

A)   specialty
B)   convenience
C)   business
D)   shopping
E)   luxuryF) D) and E)
G) B) and D)

Question 20

Which of the following constitutes an ROI?

Accepted Answer

A)   Amount earned from sales before taxes
B)   Amount realized from cutting production costs
C)   Amount earned as a result of a financial investment
D)   Amount,or ratio,that represents rate of investment
E)   Amount earned as gross incomeF) A) and E)
G) A) and B)

Exam 12: Creating and Pricing Products That Satisfy Customers

Save Textbooks Inc.includes the cost of delivery in the pricing strategy when selling textbooks to school districts.What type of pricing strategy is it using?

Correct Answer
verified

When might a firm use a price-skimming strategy? When might it use penetration pricing? Describe each strategy.

Correct Answer
verified
Price skimming is the strategy of chargi...
View Answer

The total amount received from the sales of a product is referred to as

Correct Answer
verified

What do yo-yo,aspirin,and thermos all have in common in a marketing sense?

Correct Answer
verified

Even if a grocery item is a generic product,a consumer can tell who produced it by examining the package carefully.

Correct Answer
verified

The price floor is the lowest price at which a producer can sell its product without incurring a loss.

Correct Answer
verified

Appliances,stereos,and furniture are all considered specialty products.

Correct Answer
verified

Which of the following constitutes an ROI?

Correct Answer
verified

Correct Answer
verified

When price helps Jaime decide to purchase a Chevrolet Cavalier instead of a Mercedes because she also wants a Harley-Davidson motorcycle,price serves the function of

Correct Answer
verified

Fiona collects antique Fabergé eggs.For most of these eggs,only one or a few were created of each design.These eggs would best be classified as ____ products.

Correct Answer
verified

Janie,a farmer,sells a dozen ears of corn to her neighbor for $1/dozen.She sells a dozen ears of corn to the small market down the street for $.75/dozen.She sells corn to the chain grocery store in town for $.50/dozen.Janie is using

Correct Answer
verified

The three levels of brand loyalty are preference,recognition,and insistence.

Correct Answer
verified

If Nordstrom sales associates are there to greet you as soon as you walk through the door,to assist you personally in finding the merchandise you are looking for,and to inform you about the store's events and services,the company is striving to compete on

Correct Answer
verified

Packages have marketing value but no functional value.

Correct Answer
verified

The stage in the evolution of new products in which ideas that match company objectives are analyzed as to whether the firm has the required expertise for the product's development and marketing is called

Correct Answer
verified

Car Tunes,a national car stereo retailer,markets stereos and speakers.The company will soon sell car alarms and cellular phones to ____ its product mix.

Correct Answer
verified

An early-bird special offered by a restaurant during off-peak hours is an example of a secondary-market pricing strategy.

Correct Answer
verified

The depth of a product mix is a measure of the average number of individual products within each line.

Correct Answer
verified

Identify and describe the major stages of the product life-cycle.

Correct Answer
verified
The four stages of the product life-cycl...
View Answer

Exam 12: Creating and Pricing Products That Satisfy Customers

Save Textbooks Inc.includes the cost of delivery in the pricing strategy when selling textbooks to school districts.What type of pricing strategy is it using?

Correct AnswerverifiedShow Answer

When might a firm use a price-skimming strategy? When might it use penetration pricing? Describe each strategy.

Correct AnswerverifiedPrice skimming is the strategy of chargi...View AnswerShow Answer

The total amount received from the sales of a product is referred to as

Correct AnswerverifiedShow Answer

What do yo-yo,aspirin,and thermos all have in common in a marketing sense?

Correct AnswerverifiedShow Answer

Even if a grocery item is a generic product,a consumer can tell who produced it by examining the package carefully.

Correct AnswerverifiedShow Answer

The price floor is the lowest price at which a producer can sell its product without incurring a loss.

Correct AnswerverifiedShow Answer

Appliances,stereos,and furniture are all considered specialty products.

Correct AnswerverifiedShow Answer

Which of the following constitutes an ROI?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

When price helps Jaime decide to purchase a Chevrolet Cavalier instead of a Mercedes because she also wants a Harley-Davidson motorcycle,price serves the function of

Correct AnswerverifiedShow Answer

Fiona collects antique Fabergé eggs.For most of these eggs,only one or a few were created of each design.These eggs would best be classified as ____ products.

Correct AnswerverifiedShow Answer

Janie,a farmer,sells a dozen ears of corn to her neighbor for $1/dozen.She sells a dozen ears of corn to the small market down the street for $.75/dozen.She sells corn to the chain grocery store in town for $.50/dozen.Janie is using

Correct AnswerverifiedShow Answer

The three levels of brand loyalty are preference,recognition,and insistence.

Correct AnswerverifiedShow Answer

If Nordstrom sales associates are there to greet you as soon as you walk through the door,to assist you personally in finding the merchandise you are looking for,and to inform you about the store's events and services,the company is striving to compete on

Correct AnswerverifiedShow Answer

Packages have marketing value but no functional value.

Correct AnswerverifiedShow Answer

The stage in the evolution of new products in which ideas that match company objectives are analyzed as to whether the firm has the required expertise for the product's development and marketing is called

Correct AnswerverifiedShow Answer

Car Tunes,a national car stereo retailer,markets stereos and speakers.The company will soon sell car alarms and cellular phones to ____ its product mix.

Correct AnswerverifiedShow Answer

An early-bird special offered by a restaurant during off-peak hours is an example of a secondary-market pricing strategy.

Correct AnswerverifiedShow Answer

The depth of a product mix is a measure of the average number of individual products within each line.

Correct AnswerverifiedShow Answer

Identify and describe the major stages of the product life-cycle.

Correct AnswerverifiedThe four stages of the product life-cycl...View AnswerShow Answer

Correct Answer
verified

Correct Answer
verified
Price skimming is the strategy of chargi...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The four stages of the product life-cycl...
View Answer