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Exam 12: Aproduct Development and Pricing Strategies

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Question 71

Multiple Choice

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When Pepsi introduced Mountain Dew Code Red, it was

A) expanding the width of its marketing mix.
B) increasing the depth of a product line.
C) making minor modifications that did not broaden the marketing mix.
D) narrowing its marketing mix.
E) replacing poorly performing products.

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

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Question 72

True/False

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A men's clothing store sells ties only at €20 and €35.This type of pricing strategy is known as price lining.

A) True
B) False

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Question 73

Multiple Choice

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

Your Way, Inc. Eric 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 Your Way, Inc.The company sells men's clothing and accessories.Your 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, Eric realised 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previous owner was not aware of the product life-cycle because the company kept items that were obviously too old and out of date.Also, because of the high turnover, employees did not have good knowledge of the different product lines and did not know the difference between a product line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, Eric 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two measures: first, developing a new product to incorporate into the product mix; and second, eliminating the out-of-date products.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 Your Way, Inc.Which of the following descriptions should Eric use to best explain the difference between the product line and product mix?

The stage in the evolution of new products in which ideas that match company objectives are analysed as to whether the firm has the required expertise for the product's development and marketing is called

If Macy's department store managers looked at Dillard'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?

The legality of uniform geographic pricing has been challenged and so its use has been abandoned.

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

The Glo-Brite Company is considering development of a new children's toothpaste in fun-shaped dispensers.Before performing any business analysis on the product, Glo-Brite would like an initial response from potential customers to determine interest in a toothpaste of this type.Glo-Brite will begin ____ to gather the information.

Craftsman and Kenmore are examples of a store brand.

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

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

AT&T charges different rates for long-distance service depending on time of day and distance of the call.This pricing method is called ____ pricing.

If company A references company B in determining what price to sell its own product at, it exercises which pricing objective?

Costs that depend on the number of units produced are called

If a company invests €1,000,000 to develop and market a new product with a goal of earning €1,200,000 on the product by the end of the year, it will price the product based on

Inside the packaging of a Calphalon coffee maker, Ginger finds a paper stating, "All our products will be replaced within the first year if they fail to operate correctly.However, consumer misuse or abuse will effectively end this policy." This is a(n)

The same price will be charged no matter what pricing objective is used.

Which of the following is considered a generic term?

Your Way, Inc. Eric 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 Your Way, Inc.The company sells men's clothing and accessories.Your 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, Eric realised 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, Eric 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 Your Way, Inc.The sewing machines are considered ____ for Your Way.