Question 1

A deduction from the price of an item is called a

Accepted Answer

A)   discount.
B)   variable reduction.
C)   trade-in.
D)   line.
E)   concession remittance.

Question 2

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

Accepted Answer

Sales volume tends to decrease sharply d...

Question 3

Which of the following constitutes an ROI?

Accepted Answer

A)   Amount earned from sales before taxes
B)   Amount realized from cutting production costs
C)   Amount earned as a result of a return on investment
D)   Amount, or ratio, that represents rate of investment
E)   Amount earned as gross income

Question 4

When Pepsi introduced Mountain Dew Code Red, it was

Accepted Answer

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.

Question 5

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

Accepted Answer

A)   Introduction
B)   Growth
C)   Maturity
D)   Transition
E)   Decline

Question 6

Consumers would most likely treat candy bars as ____ products.

Accepted Answer

A)   business
B)   shopping
C)   specialty
D)   convenience
E)   household

Question 7

All of the following are functions of packaging except

Accepted Answer

A)   consumer convenience.
B)   product protection.
C)   entertainment.
D)   promotion.
E)   added benefits.

Question 8

GE, Kellogg's, Mercedes, and Dell are all examples of

Accepted Answer

A)   trade characters.
B)   brand marks.
C)   brands.
D)   trade symbols.
E)   private brands.

Question 9

All of the activities involved in developing and providing a container for a product are called

Accepted Answer

A)   packaging.
B)   advertising.
C)   labeling.
D)   containerization.
E)   parceling.

Question 10

The first stage of the product life-cycle is the ____ stage.

Accepted Answer

A)   inventive
B)   launching
C)   discovery
D)   introduction
E)   growth

Question 11

The Arizona Jean Co. brand of jeans, owned by JCPenney, is a(n)  ____ brand.

Accepted Answer

A)   generic
B)   private
C)   national
D)   individual
E)   manufacturer

Question 12

The maker of Oral-B toothbrushes is introducing a new electric plaque remover and expects considerable competition. What pricing strategy would be appropriate for this maker to choose?

Accepted Answer

A)   Price skimming
B)   Penetration pricing
C)   Odd-even pricing
D)   Prestige pricing
E)   Psychological pricing

Question 13

The Morton's Salt Girl, the Pillsbury Dough Boy, and Planters' Mr. Peanut are all examples of

Accepted Answer

A)   trade names.
B)   brand names.
C)   brand marks.
D)   store brands.
E)   manufacturer brands.

Question 14

Chris and Kimberly 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.

Accepted Answer

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

Question 15

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

Accepted Answer

A)   status-quo pricing.
B)   cost-based pricing.
C)   price differentiation.
D)   variable pricing.
E)   price adjustment.

Question 16

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

Accepted Answer

A)   trade name.
B)   brand name.
C)   brand mark.
D)   store brand.
E)   manufacturer brand.

Question 17

A branding strategy in which a firm uses a different brand for each of its products is called ____ branding.

Accepted Answer

A)   producer
B)   individual
C)   unity
D)   family
E)   promotion

Question 18

In spite of the rigorous process for developing product ideas, the majority of new products

Accepted Answer

A)   require several months to gain market share.
B)   yield high returns on R&D costs.
C)   require several years to gain market share.
D)   are copied by competitors.
E)   end up as failures.

Question 19

The strategy of setting a single price for two or more units is known as

Accepted Answer

A)   penetration pricing.
B)   price skimming.
C)   sample pricing.
D)   multiple-unit pricing.
E)   odd pricing.

Question 20

Click It, Inc.
Travis is a salesperson for Click It, Inc. Click It does not sell products with its own brand name. Instead, its products are created for different retail stores and carry the store brand. Travis thought that several changes needed to be made to a particular product, but Click It management reminded him that the stores, not Click It, owned the brand.
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. When Travis thinks of products and brands adding value to the company that sells them, which concept is he referring to?

Accepted Answer

A)   Equilibrium brand
B)   Brand extension
C)   Generic name
D)   Brand demand
E)   Brand equity

Exam 13: A: Creating and Pricing Products That Satisfy Customers

The maker of Oral-B toothbrushes is introducing a new electric plaque remover and expects considerable competition. What pricing strategy would be appropriate for this maker to choose?

Correct Answer
verified

The Arizona Jean Co. brand of jeans, owned by JCPenney, is a(n) ____ brand.

Correct Answer
verified

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

Correct Answer
verified

All of the activities involved in developing and providing a container for a product are called

Correct Answer
verified

Chris and Kimberly 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.

Correct Answer
verified

A branding strategy in which a firm uses a different brand for each of its products is called ____ branding.

Correct Answer
verified

The first stage of the product life-cycle is the ____ stage.

Correct Answer
verified

Consumers would most likely treat candy bars as ____ products.

Correct Answer
verified

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

Correct Answer
verified

In spite of the rigorous process for developing product ideas, the majority of new products

Correct Answer
verified

Which of the following constitutes an ROI?

Correct Answer
verified

The strategy of setting a single price for two or more units is known as

Correct Answer
verified

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

Correct Answer
Answered by ExamLex AI
Sales volume tends to decrease sharply d...
View Answer

A deduction from the price of an item is called a

Correct Answer
verified

GE, Kellogg's, Mercedes, and Dell are all examples of

Correct Answer
verified

All of the following are functions of packaging except

Correct Answer
verified

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

Correct Answer
verified

When Pepsi introduced Mountain Dew Code Red, it was

Correct Answer
verified

The Morton's Salt Girl, the Pillsbury Dough Boy, and Planters' Mr. Peanut are all examples of

Correct Answer
verified

Correct Answer
verified

Exam 13: A: Creating and Pricing Products That Satisfy Customers

The maker of Oral-B toothbrushes is introducing a new electric plaque remover and expects considerable competition. What pricing strategy would be appropriate for this maker to choose?

Correct AnswerverifiedShow Answer

The Arizona Jean Co. brand of jeans, owned by JCPenney, is a(n) ____ brand.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

All of the activities involved in developing and providing a container for a product are called

Correct AnswerverifiedShow Answer

Chris and Kimberly 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.

Correct AnswerverifiedShow Answer

A branding strategy in which a firm uses a different brand for each of its products is called ____ branding.

Correct AnswerverifiedShow Answer

The first stage of the product life-cycle is the ____ stage.

Correct AnswerverifiedShow Answer

Consumers would most likely treat candy bars as ____ products.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In spite of the rigorous process for developing product ideas, the majority of new products

Correct AnswerverifiedShow Answer

Which of the following constitutes an ROI?

Correct AnswerverifiedShow Answer

The strategy of setting a single price for two or more units is known as

Correct AnswerverifiedShow Answer

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

Correct AnswerAnswered by ExamLex AISales volume tends to decrease sharply d...View AnswerShow Answer

A deduction from the price of an item is called a

Correct AnswerverifiedShow Answer

GE, Kellogg's, Mercedes, and Dell are all examples of

Correct AnswerverifiedShow Answer

All of the following are functions of packaging except

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When Pepsi introduced Mountain Dew Code Red, it was

Correct AnswerverifiedShow Answer

The Morton's Salt Girl, the Pillsbury Dough Boy, and Planters' Mr. Peanut are all examples of

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

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
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Sales volume tends to decrease sharply d...
View 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
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Correct Answer
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Correct Answer
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