Exam 14: Developing and Pricing Goods and Services

Borden,Inc.makes pasta,dairy items,and adhesives.These different types of products are referred to as Borden's:

In evaluating colleges,students and parents are likely to judge a school:

From the buyer's perspective,which of the following is a benefit of a product with a well known brand name?

A long-run pricing objective of almost all firms is to optimize profit.

Suits for Success is a men's clothing store in a large suburban shopping mall.The managers of the store know that their customers usually comparison shop,looking carefully at quality and price before deciding to buy.Armed with this information,Suits for Success carries quality clothing,offers competitive pricing,and friendly,helpful service.The target customers apparently view men's suits as a:

Total fixed costs are those costs that change when the volume of production changes.

The product life cycle model helps marketers realize that:

Fast-food organizations must constantly monitor all sources of information for new product ideas.

Which of the following is a stage in the product life cycle?

Industrial goods are sold in the B2B market.

SneezeNoMore markets a group of similar products for people suffering from the common cold.The products in this line are sold under the brand name SneezeNoMore.The products differ mainly in the strength of the dosage and in whether they also contain additional medications to help the consumer sleep.As an employee of SneezeNoMore,Jill is responsible for the marketing mix for the company's products.She is also involved in any major decisions concerning the development of new products that will be included in this product line.Jill serves as an):

The ____________ is a theoretical model that describes the sales and profit performance of a product class over time.

The brand names that are used by producers that distribute products nationally are called:

Shopping goods and services are purchased only after consumers compare value,quality,style,and price of competing goods and services.

The best product development strategy for most firms is to:

Product testing is designed to reduce the number of new product ideas that a firm works on at any one time.

As restaurant chains that specialize in Mexican cuisine,Fernando's and Carmelita's offer similar items on their menus.However,Fernando's restaurants are positioned in the market as elegant establishments with high prices.Carmelita's restaurants,on the other hand,are located in middle-class neighborhoods,with a casual atmosphere that welcomes families with young children.The prices at Carmelita's are in the moderate range.When evaluating the marketing strategies used by these restaurants,we can conclude that:

The product life cycle consists of __________ stages.

Federated Grocery Stores operates a large chain of stores across several mid western states.While Federated doesn't actually produce any canned foods,it markets a line of foods under its own brand name that were actually produced by another company.Federated canned foods represent a:

Brand equity refers to those factors that people associate with a specific brand name,such as awareness,perceived quality,and loyalty.