Question 1

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

Accepted Answer

A)   stamping machines
B)   cleaning agents
C)   cranes
D)   calculators
E)   lathesF) A) and B)
G) C) and D)

Question 2

All of the following are characteristics of the maturity stage of the product life-cycle except

Accepted Answer

A)   a peak in the sales curve.
B)   a decline in the sales curve.
C)   simplification of product lines.
D)   increased distribution.
E)   increased price competition.F) B) and D)
G) B) and E)

Question 3

Odd-number pricing is limited to low-priced items.

Accepted Answer

A) True 
 B)False

Question 4

A product may be a good or a service but not an idea.

Accepted Answer

A) True 
 B)False

Question 5

A branding strategy in which a firm uses the same brand for all or most of its products is called ____ branding.

Accepted Answer

A)   producer
B)   individual
C)   unity
D)   family
E)   promotionF) None of the above
G) A) and B)

Question 6

The sum of the fixed costs and the variable costs of producing a certain number of units is called the

Accepted Answer

A)   cost of goods sold.
B)   equilibrium cost.
C)   total cost.
D)   breakeven cost.
E)   total operating expense.F) None of the above
G) A) and D)

Question 7

During which phase of the product development process can marketers experiment with advertising,pricing,and packaging in different geographic areas?

Accepted Answer

A)   Screening
B)   Test marketing
C)   Idea generation
D)   Commercialization
E)   Product developmentF) C) and E)
G) B) and D)

Question 8

When Duracell came out with a new battery that significantly outlasted the company's earlier product,the battery had undergone a(n) ____ modification.

Accepted Answer

A)   functional
B)   feature
C)   quality
D)   aesthetic
E)   marketF) B) and E)
G) A) and C)

Question 9

Raw materials are an example of a firm's ____ costs.

Accepted Answer

A)   selling
B)   operating
C)   fixed
D)   overhead
E)   variableF) A) and E)
G) A) and B)

Question 10

The part of a brand that can be spoken⎯letters,words,numbers,and/or pronounceable symbols⎯is called a

Accepted Answer

A)   trademark.
B)   brand mark.
C)   brand name.
D)   brand.
E)   generic mark.F) A) and C)
G) C) and D)

Question 11

Competition-based pricing is

Accepted Answer

A)   used when costs and revenues are considered secondary to competitors' prices.
B)   not useful as a method of increasing or maintaining market share.
C)   of little use if the competing products are homogeneous.
D)   not able to increase sales.
E)   most often used when competing products are homogeneous.F) A) and B)
G) A) and C)

Question 12

A consumer product for which buyers will not accept a substitute,for which purchasers do not compare alternatives,and that is purchased infrequently and with extra effort on the buyer's part is a ____ product.

Accepted Answer

A)   luxury
B)   business
C)   specialty
D)   shopping
E)   convenienceF) A) and B)
G) C) and D)

Question 13

Identify and discuss three types of pricing associated with business products.

Accepted Answer

Geographic pricing strategies deal with ...

Question 14

A pricing strategy in which a manufacturer pays for the shipping cost of its merchandise to the wholesaler is called ____ pricing.

Accepted Answer

A)   geographic
B)   FOB origin
C)   trade discount
D)   FOB destination
E)   postage-stampF) D) and E)
G) C) and E)

Question 15

Are a product mix and a product line the same thing? Why or why not?

Accepted Answer

No,a product line is a group of similar ...

Question 16

Sales of ABC Corporation's digital video cameras are rising rapidly,profits are peaking,and competitors are entering the market.ABC is able to maintain its market lead.Judging from this example,the digital video camera is in which stage of the product life-cycle?

Accepted Answer

A)   Introduction
B)   Decline
C)   Maturity
D)   Growth
E)   EvaluationF) B) and D)
G) A) and B)

Question 17

In which order do the stages of the product life-cycle occur?

Accepted Answer

A)   Growth,introduction,maturity,decline
B)   Introduction,maturity,slowdown,decline
C)   Innovation,distribution,maturity,decline
D)   Introduction,growth,maturity,decline
E)   Introduction,growth,slowdown,declineF) None of the above
G) All of the above

Question 18

Which of the following best describes a typical scenario companies use in the commercialization phase?

Accepted Answer

A)   The product is first introduced in selected geographical areas and then expanded in phases.
B)   The product generally becomes available at all intended locations simultaneously throughout the United States.
C)   Companies implement their initial plan and very infrequently make any adjustments to this plan.
D)   Companies prepare the budget for commercialization after the product has been fully introduced.
E)   The product is very slowly introduced across the nation throughout a time frame spanning approximately five years.F) A) and C)
G) A) and B)

Question 19

Melany is starting to notice some wrinkles around her eyes and mouth.She has decided to purchase some age-defying wrinkle cream but is unfamiliar with available brands.At the store,she picks out a brand because she remembers a clever advertisement about it on television.What level of brand loyalty does this describe?

Accepted Answer

A)   Preference
B)   Ignorance
C)   Insistence
D)   Acceptance
E)   RecognitionF) B) and C)
G) A) and B)

Question 20

Is McDonald's "golden arches" symbol a brand name or a brand mark? Define each term,and state how they differ.

Accepted Answer

McDonald's golden arches are a brand mar...

Exam 12: Creating and Pricing Products That Satisfy Customers

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

Correct Answer
verified

During which phase of the product development process can marketers experiment with advertising,pricing,and packaging in different geographic areas?

Correct Answer
verified

All of the following are characteristics of the maturity stage of the product life-cycle except

Correct Answer
verified

Sales of ABC Corporation's digital video cameras are rising rapidly,profits are peaking,and competitors are entering the market.ABC is able to maintain its market lead.Judging from this example,the digital video camera is in which stage of the product life-cycle?

Correct Answer
verified

Identify and discuss three types of pricing associated with business products.

Correct Answer
verified
Geographic pricing strategies deal with ...
View Answer

Odd-number pricing is limited to low-priced items.

Correct Answer
verified

Which of the following best describes a typical scenario companies use in the commercialization phase?

Correct Answer
verified

The sum of the fixed costs and the variable costs of producing a certain number of units is called the

Correct Answer
verified

A product may be a good or a service but not an idea.

Correct Answer
verified

A branding strategy in which a firm uses the same brand for all or most of its products is called ____ branding.

Correct Answer
verified

The part of a brand that can be spoken⎯letters,words,numbers,and/or pronounceable symbols⎯is called a

Correct Answer
verified

Raw materials are an example of a firm's ____ costs.

Correct Answer
verified

Is McDonald's "golden arches" symbol a brand name or a brand mark? Define each term,and state how they differ.

Correct Answer
verified
McDonald's golden arches are a brand mar...
View Answer

Are a product mix and a product line the same thing? Why or why not?

Correct Answer
verified
No,a product line is a group of similar ...
View Answer

A pricing strategy in which a manufacturer pays for the shipping cost of its merchandise to the wholesaler is called ____ pricing.

Correct Answer
verified

A consumer product for which buyers will not accept a substitute,for which purchasers do not compare alternatives,and that is purchased infrequently and with extra effort on the buyer's part is a ____ product.

Correct Answer
verified

In which order do the stages of the product life-cycle occur?

Correct Answer
verified

Competition-based pricing is

Correct Answer
verified

When Duracell came out with a new battery that significantly outlasted the company's earlier product,the battery had undergone a(n) ____ modification.

Correct Answer
verified

Correct Answer
verified

Exam 12: Creating and Pricing Products That Satisfy Customers

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

Correct AnswerverifiedShow Answer

During which phase of the product development process can marketers experiment with advertising,pricing,and packaging in different geographic areas?

Correct AnswerverifiedShow Answer

All of the following are characteristics of the maturity stage of the product life-cycle except

Correct AnswerverifiedShow Answer

Sales of ABC Corporation's digital video cameras are rising rapidly,profits are peaking,and competitors are entering the market.ABC is able to maintain its market lead.Judging from this example,the digital video camera is in which stage of the product life-cycle?

Correct AnswerverifiedShow Answer

Identify and discuss three types of pricing associated with business products.

Correct AnswerverifiedGeographic pricing strategies deal with ...View AnswerShow Answer

Odd-number pricing is limited to low-priced items.

Correct AnswerverifiedShow Answer

Which of the following best describes a typical scenario companies use in the commercialization phase?

Correct AnswerverifiedShow Answer

The sum of the fixed costs and the variable costs of producing a certain number of units is called the

Correct AnswerverifiedShow Answer

A product may be a good or a service but not an idea.

Correct AnswerverifiedShow Answer

A branding strategy in which a firm uses the same brand for all or most of its products is called ____ branding.

Correct AnswerverifiedShow Answer

The part of a brand that can be spoken⎯letters,words,numbers,and/or pronounceable symbols⎯is called a

Correct AnswerverifiedShow Answer

Raw materials are an example of a firm's ____ costs.

Correct AnswerverifiedShow Answer

Is McDonald's "golden arches" symbol a brand name or a brand mark? Define each term,and state how they differ.

Correct AnswerverifiedMcDonald's golden arches are a brand mar...View AnswerShow Answer

Are a product mix and a product line the same thing? Why or why not?

Correct AnswerverifiedNo,a product line is a group of similar ...View AnswerShow Answer

A pricing strategy in which a manufacturer pays for the shipping cost of its merchandise to the wholesaler is called ____ pricing.

Correct AnswerverifiedShow Answer

A consumer product for which buyers will not accept a substitute,for which purchasers do not compare alternatives,and that is purchased infrequently and with extra effort on the buyer's part is a ____ product.

Correct AnswerverifiedShow Answer

In which order do the stages of the product life-cycle occur?

Correct AnswerverifiedShow Answer

Competition-based pricing is

Correct AnswerverifiedShow Answer

When Duracell came out with a new battery that significantly outlasted the company's earlier product,the battery had undergone a(n) ____ modification.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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
Geographic pricing strategies deal with ...
View Answer

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
McDonald's golden arches are a brand mar...
View Answer

Correct Answer
verified
No,a product line is a group of similar ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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