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Exam 12: Creating and Pricing Products That Satisfy Customers

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Question 51

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Identify and discuss the three major ways that a product mix can be improved.

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One way of improving a product mix of a ...

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Question 52

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

A) trade
B) cash
C) quantity
D) wholesale
E) preferential

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

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Question 53

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Seasonal discounts provide price incentives to customers during peak selling seasons.

BMW's acquisition of the British automaker Rover provides BMW with instant entry into the growing sport-utility vehicle market with the legendary Range Rover line. BMW's purchase is an attempt to widen its product mix.

During the decline stage of the product life-cycle, the sales volume decreases sharply because of an increase in the number of competing firms.

How does product differentiation allow a firm to exert some control over a product's price?

Discounts offered to encourage early payment of outstanding accounts are called ____ discounts.

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

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

Bread, gasoline, and ____ are examples of convenience products.

A hotel room in New Orleans during Mardi Gras costs considerably more than it would during the following week. This is an example of

If Texas Instruments hires an accounting firm to compute the company's taxes, the accounting firm is providing a(n) ____ service.

In a meeting to generate new products, the advisory committee felt that it had come up with some excellent ideas. Now that there is a list of product ideas, the next step is

If Nabisco had established a pricing objective of selling one out of every three crackers consumed in the world, it would have established an objective based on

All of the following are business products except

Discounts from the list price offered to intermediaries are called ____ discounts.

Renee 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.

Click It, Inc. Travis is a salesperson for Click It, Inc. Click It does not sell products with its own brand nam 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(n) ____ strategy.

A brand is all of the following except a(n)

Price competition occurs when a seller emphasizes the