Exam 14: Developing and Pricing Goods and Services

Many supermarkets carry plain packages that only identify the name of the product that is inside.For example,a label may read simply "peaches" or "green beans." These goods represent:

According to the product life cycle model,sales are expected to peak in the _________ stage.

Brand __________ refers to the linking of a brand to other favorable images,such as a celebrity.

The rent a firm pays each month for office space is an example of an):

At the break-even point:

Budd's Floral Shoppe is located in a large town that has several other florists.The owner,Rose Budd,is likely to find that the presence of many larger competitors means that the only way she can survive is to charge rock bottom prices.

Sales levels of Armstrong mountain bikes are rising rapidly,profits are very high,and a growing number of competitors are taking aim at Armstrong's market lead.Based on this information,Armstrong mountain bikes are in which stage of the product life cycle?

The pricing objectives of a firm should be set independently of the other elements of their marketing mix.

Brand association is the linking of a brand to other favorable images such as a celebrity or geographic location.

Successful product differentiation:

As consumers evaluate a product,price plays a small role.

Felicia wants to know how many units she must sell to cover all of her costs.She indicates to you that her selling price is $20 per unit,her fixed costs are $6,000,and the variable costs per unit are $15.What is her break-even point?

Producers often use ________ as a primary basis for setting prices on the goods and services they offer the public.

Prime Cuts was the brainchild of Karen Terrier who guided all the marketing efforts of the product.She selected each element of the marketing mix such as the package,brand name,pricing,promotion,and placement decisions.Karen obviously serves in the job of:

Computers,copiers,and fax machines used by businesses would be classified as:

Competition-based pricing is a strategy based on what all the other competitors are doing.

As the Internet grows in popularity,it is likely that more firms will adopt a high-low pricing strategy.

"If you create a better mouse trap,the world will beat a path to your door." This statement ignores the need for which step in the new-product development process?

Attracting attention,describing contents,explaining benefits and identifying the uses of a product are all functions of:

Discuss the role of packaging in a firm's total product offer.