Exam 14: Developing and Pricing Goods and Services

Healthy Pick designed a new type of packaging that significantly improves taste and texture of food when defrosted.Unfortunately,firms seldom find that improvements in packaging impact market share and profits.

Which of the following are products consumers buy after comparing quality,price,and style from a variety of sellers?

Which of the following is a potential problem with a high-low pricing strategy?

Restaurants,like other businesses,often find that the best way to succeed in the market is to:

While the time in each stage may vary,all products progress through each stage of the product life cycle.

Having completed the first stages of product development of its new low-calorie frozen yogurt breakfast bars,the YaYa Yogurt Company took its product directly to consumers.Marketers partnered with a large theme park in Orlando,FL,to perform ________________.The YaYa marketing department wanted to know if consumers found this product to be a quick way to eat breakfast on the road.Subsequently,they also wanted to determine what customers would be willing to pay for the breakfast bar.

Knowledge of the product life cycle model can help firms develop marketing strategies and anticipate market changes.

Paper clips,stationery,and other office supplies used by businesses are types of industrial support goods.

The formula for break-even analysis includes which of the following components?

The marketing efforts for convenience and specialty goods are essentially the same.

Accessory equipment consists of capital items that cost less and are shorter lived than installation items.

In marketing today,packaging carries the added responsibility of:

Price leadership is a demand based pricing strategy.

Sales of cell phones in the United States are still increasing,but the rate of growth has slowed.Sales are expected to peak somewhat soon in the U.S.Based on this information,cellular phones are in what stage of the product life cycle in the U.S.?

Gill's Gadgets establishes the price it charges for its products by determining the cost of production and then adding on a desired profit margin.Gill's strategy is known as target costing.

One of the reasons why companies create the position of brand manager is to:

Which of the following statements about non-price competition is most accurate?

The Internet allows customers to compare prices of many goods and services.This technology will likely:

The purpose of break-even analysis is to determine the lowest price a firm can charge and still be able to cover its costs of production.

In the long run,the price of a product is determined by the cost of production and the length of the firm's supply chain.