Exam 14: Developing and Pricing Goods and Services

Winter Cool Mints is a new brand of breath fresheners. The company knows product location is very important since consumers desire to buy this type product with a minimum of effort. Winter Cool Mints represent a

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

In order to achieve a social objective, firms use low prices to enable people with low incomes to buy their product.

Some businesses use nostalgic ads to rekindle the memories and emotions of consumers to an earlier time and place. This technique of linking a brand name to a pleasant memory or favorable image is the goal of brand

Most consumers view specialty goods as having a variety of acceptable substitutes.

Paper clips, stationery, and other office supplies used by businesses are types of industrial support goods.

In marketing today, packaging carries the added responsibility of:

When consumers calculate the value of a product, they look at the benefits and then subtract the cost.

The best product development strategy for most firms is to

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?

Which of the following is expected during the maturity stage of a product life cycle?

Jameson noticed that the vending machine soda bottles had changed shape. Upon further investigation, he saw that each bottle contained 2 ounces less than the previous bottles. But the price remained the same! The pricing objective of the beverage company is to

The rent a firm pays each month for office space is an example of a(n)

Hammer's Hardware, a nationwide chain of hardware stores, sells a line of tools under the Hammer's brand even though they were actually produced by another firm. Since the products are actually produced by another firm, the Hammer's Hardware brand is an example of a knockoff brand.

Brand names help sellers with new-product introductions and create an opportunity for higher prices.

The Connecting Through Social Media box showed us that while watching the online gaming market, some previously popular games were faltering. This led programmers to

Computers, copiers, and fax machines used by businesses would be classified as

A high-low pricing strategy may condition consumers to avoid paying the regular prices by waiting for sale prices.

While service providers offer product lines, they are unable to offer product mixes.

When consumers decide to purchase a particular product, they