Exam 14: Developing and Pricing Goods and Services

From a strategic marketing viewpoint,a total product offer includes all of the tangible attributes of a good or service,and excludes any intangible attributes.

A single product line may contain several competing brands.

Small firms often rely on non-price competition when competing against larger firms.

The benefits provided by a brand name for a buyer include reduced search time,prestige,and quality assurance.

Variable costs are costs that change with the level of production.

While packaging innovations benefit the consumer,they have vastly increased the workload of retailers.

The uniqueness of convenience goods and services stimulate consumers to make an extra effort to purchase them.

Once an organization surveys the consumer's wants and needs,has designed a group of products to meet those needs,and begun to market them in stores,the organization is assured of success.

A knockoff brand is a brand name that has lost its exclusive legal protection.

The purpose of __________ is to create real or perceived product differences.

Miller Light Beer,Maxwell House Coffee,Jell-O brand gelatin,Kraft Mayonnaise,and Marlboro Cigarettes,were all at one time products of the Philip Morris Company.These products represented a part of the product line Philip Morris offered.

Endorsements by sports or movie celebrities can help create a favorable brand association.

When reviewing the product life cycle model,it is important to remember that:

The _________ pricing strategy maintains low prices and avoids the use of special sales.

Which of the following is consistent with the growth stage of the product life cycle?

Which of the following would a firm most likely use to differentiate its product?

Entice-mint Breath Mints is a new brand of breath fresheners.The company realizes that product location is very important since consumers desire to buy this type product with a minimum of effort.Entice-mint mints represent a:

Charging high prices to earn large profits during a time when there is little competition represents a ________ strategy:

As a brand manager,Ellen has proposed an aggressive advertising campaign that exaggerates the benefits of their newest product.While Ellen is convinced that this strategy will encourage consumers to try the product,her assistant strongly opposes the ide A.Which of the following presents the best explanation for the assistant's opposition to Ellen's proposal?

The term product line describes the combination of product mixes offered by a manufacturer.