Exam 14: Developing and Pricing Goods and Services

An advertisement for the Xerox Corporation encourages customers to say, "Copy it" rather than "Xerox it." This indicates that Xerox is fearful that its brand name might become a(n)

Marshall Manufacturing acquired several pieces of expensive heavy machinery it intends to use in its operations. As an industrial good, this heavy machinery represents

Marketers use pricing, advertising, and packaging to differentiate their products from competitors' products even when actual differences are quite small.

The combination of all the factors that consumers evaluate when deciding whether or not to buy a good or service is called a

Which of the following products would most likely be classified as a specialty good or service?

Brand names can significantly impact consumer perceptions of a product.

Many supermarkets carry plain packages that only identify the name of the product that is inside. For example, a label may read simply "peaches" or "green beans." These goods represent

Today, the packaging of products has been given a greater role in product promotion.

The concepts of product lines and product mixes apply to marketers of both products and services.

Concept testing involves taking a product idea to consumers to test their reactions.

The best strategy for brand name manufacturers to respond to the challenge of generic goods is to use price discounts and coupons to price their products more aggressively.

In the long run the market determines what the price will be.

The use of price discounts and coupons may erode the commitment of consumers to brand names.

Ariel owns a company that markets high-quality office supplies to businesses. She faces stiff competition from larger firms like Staples. Which of the following competitive strategies would probably work best for Ariel?

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

Specialty goods are often marketed through specialty magazines.

________ consist of major capital equipment such as new factories and heavy machinery.

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

Once a good or service nears the end of its product life cycle, the firm recognizes that

Fashion experts readily understand the power of ________. Shortly after Kate Middleton married Prince William, throngs of soon-to-be-brides scrambled to find copies of her bridal gown, and also that of her sister Pippa's bridesmaid gown.