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Exam 12: Creating and Pricing Products That Satisfy Customers

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Question 31

True/False

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

A) True
B) False

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Question 32

Multiple Choice

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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

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

E) B) and D)
F) B) and C)

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Question 33

Multiple Choice

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

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

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

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?

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.

Packages have marketing value but no functional value.

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

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

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

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?

Which of the following constitutes an ROI?

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

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

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

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

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

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