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Exam 13: A: Creating and Pricing Products That Satisfy Customers

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Question 81

Multiple Choice

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If company A references company B in determining what price to sell its own product at, it exercises which pricing objective?

A) Target market share
B) Survival
C) Revenue maximization
D) Profit maximization
E) Status-quo

F) A) and B)
G) C) and D)

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Question 82

Multiple Choice

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In her local supermarket Susan purchases green beans in a white can simply labeled as green beans. This represents a(n) ____ brand.

A) private
B) generic
C) value
D) manufacturer
E) anonymous

F) C) and D)
G) B) and C)

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Question 83

Multiple Choice

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Click It, Inc. Travis is a salesperson for Click It, Inc. Click It does not sell products with its own brand name. Instead, its products are created for different retail stores and carry the store brand. Travis thought that several changes needed to be made to a particular product, but Click It management reminded him that the stores, not Click It, owned the brand. However, because Click It had been concerned about dropping sales, management listened to Travis's concerns about the company's pricing. He suggested using a different pricing strategy. More specifically, he felt that the company should incorporate a multiple-unit pricing strategy because it would then allow Click It to set a single price for multiple units. This had the potential of increasing sales and therefore profits, so management agreed to consider Travis's suggestion. -Refer to Click It, Inc. The multiple-unit pricing strategy suggested by Travis is a ____ strategy.

After several years of success with the product line, Procter & Gamble introduced its popular Sure deodorant in three new scents. This is an example of ____ modification.

As the product idea committee of Foster Manufacturing Company went through its list of possible new products, it rejected various ideas for one or more reasons. Which of the following is least likely to be a reason for rejection?

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.

When a company changes one or more of a product's characteristics to manage its product mix, it is engaging in ____ modification.

If Alberto purchases a tie from JCPenney for $30, that $30 represents JCPenney's ____ from the sale.

General Mills has been able to extend the life of Bisquick baking mix by

Borden, Inc. offers pasta, snacks, grocery, and dairy items as well as films, adhesives, and other nonfood products. These products are referred to as Borden's

Which of the following is not a phase in the new product development process?

Which of the following is considered a generic term?

If the manager at Best Buy puts a sign up next to a Pioneer stereo that reads, "Only $199.99! $58.01 less than Circuit City," this is an example of what type of pricing strategy?

For a product such as staples, which of the following determines whether it is a consumer product or a business product?

Discounts given to customers who buy in large amounts are called ____ discounts.

In cost-based pricing, a producer adds an amount to the total production cost to provide a profit. The amount added to the production cost is called a

The quantity of a product that buyers are willing to purchase at various prices is called

The product life-cycle stage in which there is a decrease in the rate of sales growth, the sales curve begins to decline, and dealers simplify their product lines is called

Paper, pencils, oils, and ____ are examples of supplies.

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