Exam 14: Developing and Pricing Goods and Services

The four stages in the product life cycle are introduction,market,exchange,and disposal.

In the fall semester,Alex noticed that the plastic cola bottles in the vending machines at his university had changed shape.Upon further investigation,he realized that each bottle contained 2 ounces less beverage than previous bottles,even though he paid the same price as last semester.The pricing objective of the beverage company is to:

Some goods have a product life cycle that is completed in a shorter amount of time than other goods.

Creative product differentiation can enable a small business to increase market share.

The trend towards self-service retailers has increased the importance of packaging.

A trademark is a brand that has been given exclusive legal protection for both the brand name and the pictorial design.

Firms utilizing an everyday low pricing EDLP)strategy establish a policy of special sales on a regular basis.

According to the product life cycle model,profits tend to:

The several product lines that a company offers for sale make up that organization's product mix.

The four-stage theoretical model that describes the evolution of a product from birth to death is referred to as the:

As a graphic artist,Nate has just finished producing a new calendar.Nathan's calendar cost him $1.00 for the shiny paper,$2.00 for the six color production,and $.25 for the plastic wire that holds it together at the top.The labor in developing the design was 4 hours of work @ $50/hour,and labor is being added to the rest of the fixed costs of $400.00.At a price of $12.00 per calendar,how many calendars will Nathan need to produce and sell in order to break even cover all his costs,but not make a profit)?

When consumers decide to purchase a particular product,they:

When a brand becomes commonplace and identified with a category of goods rather than the unique product of a specific manufacturer,the brand may become a:

Donavan spent the day talking with a packaging company in Guam,a lighting specialist in Japan,a touchpad expert in the U.S. ,a prototype design firm in Malaysia,as well as a shipping firm in Chin A.Each of these firms provided expertise in the development of his company's latest product,a back-lighted eReader.The strategy that Donavan's firm used to develop its latest product is:

Price,appearance,and reputation can influence a consumer's perceptions of quality.

Knockoff brands are ________ copies of national brand-name goods.

Green Giant Green Beans,Chevy Corvette,Coca Cola,Dole Pineapple,and Peter Pan Peanut Butter are all examples of:

Consumer goods and services are generally classified into four specific categories.What are the four categories,and how do they differ? Illustrate by giving examples of products that are often included in each category.

To satisfy consumers managers must learn to listen better than they do now and to adapt constantly to changing market demands.

A leading cause of new-product failure is: