FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 12: Creating and Pricing Products That Satisfy Customers

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 111

Multiple Choice

Review LaterAdd Note

Review Later

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

A) Quantity purchased
B) Use of the product
C) Basic function the product provides
D) Whether it is purchased for cash or credit
E) Need satisfied

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

Correct Answer

verified

Show Answer

Question 112

Multiple Choice

Review LaterAdd Note

Review Later

If company B references company C 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) B) and C)
G) A) and B)

Correct Answer

verified

Show Answer

Question 113

Multiple Choice

Review LaterAdd Note

Nate buys companies that are small or companies in financial trouble.He helps these companies turn around and develop a competitive advantage.The company that he recently purchased is called Everyone's Way,Inc.The company sells men's clothing and accessories.Everyone's Way keeps the sewing machines for clothes manufacturing at a separate production facility so that the store location space can be reserved for display and selling. After looking over the different products available,Nate realized that the company's previous owner was not aware of the product life-cycle because the company kept items that were obviously too old and out-of-date.Also,because of the high turnover,employees did not have good knowledge of the different product lines and did not know the difference between a product line and a product mix.To move the company forward,Nate thought of the following two measures: first,developing a new product to incorporate into the product mix;and second,eliminating the out-of-date products. -Refer to Everyone's Way,Inc.If Nate wanted to develop a new product,he would begin with

A variation of an existing product,such as freeze-dried coffee,is an example of product imitation.

If Lion Mart advertises a 2-liter bottle of Pepsi for 89 cents to generate store traffic that will increase the purchasing of other items at regular prices,the grocer is using

During a department-head meeting at XYZ Corporation,the executives and department-heads were discussing all of the products the firm has to offer for sale.What were they referring to?

A new product should be left in a test market long enough to

A symbol or word that is registered with the U.S.Patent and Trademark Office and is thus legally protected from use by anyone but its owner is a

Which of the following is considered a trade name?

Ties 'R' Us sells a variety of ties at many different prices.Often customers are confused about the pricing and have a hard time making a buying decision.Ties 'R' Us should use what type of pricing strategy?

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

Would Coca-Cola be a generic brand? Why or why not? How would you expect the package and label of a generic product to look?

At what stage in the product life-cycle would sales volume tend to decrease sharply? Why?

Price differentiation attempts to sell

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

A good or service that is intended primarily for personal or household use is called a(n) ____ product.

To promote an overall company image,Borden dairy products are packaged in similar designs and colors.This approach is known as

The number of units that must be sold for the total revenue to equal the total cost is called the ____ quantity.

Products that are designed to be similar to and compete with existing products of other firms are called

A product usually declines because of technological advances or environmental factors or because