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 141

Multiple Choice

Review LaterAdd Note

Review Later

Gigi Smith wanted to buy a new car.She visited several dealers to compare prices,styles,and dealer reputations.Finally,she bought a car from a local dealer.The purchase of a car is an example of a

A) convenience product.
B) specialty product.
C) business product.
D) shopping product.
E) major equipment item.

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

Correct Answer

verified

Show Answer

Question 142

Multiple Choice

Review LaterAdd Note

Review Later

Equate,a brand of health and beauty care products,is available only at Target stores.Equate is a ____ brand.

A) producer
B) private
C) distributor
D) generic
E) conglomerate

F) A) and D)
G) D) and E)

Correct Answer

verified

Show Answer

Question 143

Multiple Choice

Review LaterAdd Note

Philip James asks you to calculate the breakeven point for him.You need which information from him to do so?

If a manager designs the shoe department in a manner that one of its private-label pairs of shoes,priced at $39.99,is positioned next to a well-known national brand of shoes priced at $69.99,what strategy is the manager attempting to accomplish?

The stage in the evolution of new products in which the product is introduced in a limited way to determine buyers' reactions is called

Kerry would like to buy a new electric bicycle.He has reviewed them in Bicycling Magazine as well as looked at them in stores.He goes to his local bicycle store and asks about two bikes that he is interested in.The owner shows him the two he is interest in then shows him a bike that is getting good reviews,has been promoted extensively by the manufacturer and has been widely distributed.This model was not reported on in Bicycling Magazine so Kerry was unaware of it,but after reviewing the literature about it and test-riding it,he realizes it is better than the two older models he read about in Bicycling Magazine and took for test drives.What stage of the product life-cycle is this bicycle most likely in?

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.

Product ideas are transformed into prototypes during which stage of the product development process?

David and Andy White decided to buy new furniture for their bedroom.They spent considerable time shopping around,comparing prices and styles.Bedroom furniture is best classified as a ____ product.

Multiple-unit packaging does not work well for

Which of the following is not generally considered to be a stage in the product life-cycle?

Price differentiation is

Inside the packaging of a new bread machine she purchases,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)

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

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

Lever Brothers is considering an idea for a new liquid laundry detergent that contains a whitening agent.The company presented its proposed new product to a group of potential customers in the form of a short explanation and questionnaire.Lever Brothers is conducting

Developing new products is risky,time consuming,and expensive with a high rate of failure.Nevertheless,"failing to introduce new products can be just as hazardous." What is meant by this quote?

In cost-based pricing,a producer adds an amount to the total production cost to provide a profit.The amount added to the production cost is called a

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

Describe the three major pricing methods that firms employ.