Question 1

Which of the following is a relevant criterion for the product screening process?

Accepted Answer

A) sales forecasts for the product 
B) production capacity of competitors 
C) profit potential 
D) the stage of the product life cycle 
A) sales forecasts for the product 
B) production capacity of competitors 
C) profit potential 
D) the stage of the product life cycle

Question 2

When consumer loyalty reaches the point of brand insistence,the product becomes a specialty good.

Accepted Answer

A) True 
 B)False

Question 3

New-product commercialization includes promoting the product to distributors and retailers as well as developing strong advertising and sales campaigns.

Accepted Answer

A) True 
 B)False

Question 4

Successful businesses constantly monitor consumer wants and needs.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market?

Accepted Answer

A) product matrix 
B) product line 
C) product mix 
D) total product offer 
A) product matrix 
B) product line 
C) product mix 
D) total product offer

Question 6

Unsought goods and services are products consumers do not actively seek out for purchase on a regular basis.

Accepted Answer

A) True 
 B)False

Question 7

While the product life cycle is a good theory,it's not important for marketers to recognize what life cycle stage a product is in.

Accepted Answer

A) True 
 B)False

Question 8

Consumers are best served by providing specialty goods in convenient locations.

Accepted Answer

A) True 
 B)False

Question 9

Successful businesses develop a mix of price,product,place,and promotion that is consistently applied throughout a product's life cycle.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following statements is the most accurate assessment of the role packaging plays in product offerings?

Accepted Answer

A) The importance of packaging has diminished as the use of the Internet has grown. 
B) While packaging plays an important role in marketing goods,it is not relevant to the marketing of services. 
C) Effective packaging eliminates the potential of product liability suits. 
D) The importance of packaging is greater now than ever. 
A) The importance of packaging has diminished as the use of the Internet has grown. 
B) While packaging plays an important role in marketing goods,it is not relevant to the marketing of services. 
C) Effective packaging eliminates the potential of product liability suits. 
D) The importance of packaging is greater now than ever.

Question 11

Target costing is a cost-based pricing strategy.

Accepted Answer

A) True 
 B)False

Question 12

Convenience goods are products that the consumer wants to purchase frequently and with a minimum of effort.

Accepted Answer

A) True 
 B)False

Which of the following is a relevant criterion for the product screening process?

When consumer loyalty reaches the point of brand insistence,the product becomes a specialty good.

New-product commercialization includes promoting the product to distributors and retailers as well as developing strong advertising and sales campaigns.

Successful businesses constantly monitor consumer wants and needs.

Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market?

Unsought goods and services are products consumers do not actively seek out for purchase on a regular basis.

While the product life cycle is a good theory,it's not important for marketers to recognize what life cycle stage a product is in.

Consumers are best served by providing specialty goods in convenient locations.

Successful businesses develop a mix of price,product,place,and promotion that is consistently applied throughout a product's life cycle.

Which of the following statements is the most accurate assessment of the role packaging plays in product offerings?

Target costing is a cost-based pricing strategy.

Convenience goods are products that the consumer wants to purchase frequently and with a minimum of effort.

Taking Risks and Making Profits Within the Dynamic Business Environment

Understanding Economics and How It Affects Business

Doing Business in Global Markets

Demanding Ethical and Socially Responsible Behavior

How to Form a Business

Entrepreneurship and Starting a Small Business

Management and Leadership

Structuring Organizations for Todays Challenges

Production and Operations Management

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Dealing With Union and Employeemanagement Issues

Marketing: Helping Buyers Buy

Distributing Products

Using Effective Promotions

Understanding Accounting and Financial Information

Financial Management

Using Securities Markets for Financing and Investing Opportunities

Money,financial Institutions,and the Federal Reserve

test Planning Table for Bonus Chapter A

Using Technology to Manage Information

Managing Risk

Managing Personal Finances

Filters

Exam 14: Developing and Pricing Goods and Services

Which of the following is a relevant criterion for the product screening process?

When consumer loyalty reaches the point of brand insistence,the product becomes a specialty good.

New-product commercialization includes promoting the product to distributors and retailers as well as developing strong advertising and sales campaigns.

Successful businesses constantly monitor consumer wants and needs.

Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market?

Unsought goods and services are products consumers do not actively seek out for purchase on a regular basis.

While the product life cycle is a good theory,it's not important for marketers to recognize what life cycle stage a product is in.

Consumers are best served by providing specialty goods in convenient locations.

Successful businesses develop a mix of price,product,place,and promotion that is consistently applied throughout a product's life cycle.

Which of the following statements is the most accurate assessment of the role packaging plays in product offerings?

Target costing is a cost-based pricing strategy.

Convenience goods are products that the consumer wants to purchase frequently and with a minimum of effort.

Taking Risks and Making Profits Within the Dynamic Business Environment

Understanding Economics and How It Affects Business

Doing Business in Global Markets

Demanding Ethical and Socially Responsible Behavior

How to Form a Business

Entrepreneurship and Starting a Small Business

Management and Leadership

Structuring Organizations for Todays Challenges

Production and Operations Management

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Dealing With Union and Employeemanagement Issues

Marketing: Helping Buyers Buy

Distributing Products

Using Effective Promotions

Understanding Accounting and Financial Information

Financial Management

Using Securities Markets for Financing and Investing Opportunities

Money,financial Institutions,and the Federal Reserve

test Planning Table for Bonus Chapter A

Using Technology to Manage Information

Managing Risk

Managing Personal Finances

Filters