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Exam 12: Creating and Pricing Products That Satisfy Customers

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Question 121

Multiple Choice

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____ become(s) a part of the physical product and consist(s) of either finished items ready for assembly or products that need little processing before assembly.

A) Process materials
B) Supplies
C) Accessory equipment
D) Component parts
E) Major equipment

F) A) and E)
G) B) and C)

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Question 122

Multiple Choice

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A written explanation of the responsibilities of the producer in the event the product is found to be defective or otherwise unsatisfactory is called a(n)

A) Universal Product Code.
B) label.
C) express warranty.
D) set of instructions.
E) covenant.

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

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Question 123

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A price of $5.95 for a product would fall into the category of odd-number pricing.

Automobile fenders are an example of

A trademark is legally protected from use by anyone except its owner.

The maker of Oral-B toothbrushes is introducing a new electric plaque remover and expects considerable competition.What pricing strategy would be appropriate for this maker to choose?

If Sears department store managers looked at Macy's department store prices for identical national brands and,based on that information,decided to advertise a sale on those products,they would be exercising which pricing method?

Ford was recently able to endure challenging times that required massive recalls affecting several million of its vehicles.Ford has relied on its ___ to survive and continue to prosper.

The label on a bag of Fritos is not required to describe the

Some pricing objectives include surviving,maximizing profit,obtaining market-share goals,and maintaining status quo.

The complete and legal name of an organization,such as Walmart Stores,Incorporated,is called a

Random discounting is often predictable so consumers wait to make purchases until they can benefit from the price reductions.

Generic brands are becoming more popular with today's price-conscious shoppers.

The amount of money that a seller is willing to accept in exchange for a product,at a given time and under given circumstances,is called the

William Clark wants to know his breakeven point.His selling price is $20 per unit,his fixed costs are $6,000,and the variable costs per unit are $6.What is his breakeven quantity?

Which business product classification is most appropriate for the wire used inside a stereo system?

At a busy intersection in Atlanta,there are four competing gas stations.Each of the stations charges about the same for each gallon of gasoline.The pricing objectives of these firms is

The marketing challenge of making potential customers aware of the product's existence and its features,benefits,and uses is prevalent in which of the product life-cycle stages?

A manager at Dillard's discovers that JCPenney has reduced the price of its children's Levi's from $31.99 to $24.99,according to an advertisement in the Sunday newspaper.She immediately phones her store and instructs the salesperson on duty to put a sign up next to their children's Levi's that reads,"SALE: $24.99." This is an example of what pricing strategy?

A wrench used to make adjustments to machinery that produces copper wire is classified as