Question 1

For a restaurant making pizzas,the cost of the cheese is a fixed cost.

Accepted Answer

A) True 
 B)False  False

Question 2

The process of product development begins with concept testing.

Accepted Answer

A) True 
 B)False  False

Question 3

A private brand is a brand name developed by a wholesaler or retailer for their product.

Accepted Answer

A) True 
 B)False  True

Question 4

During the product life cycle,when do sales begin to slow down while profit levels are high?

Accepted Answer

A)  decline 
B)  maturity 
C)  introduction 
D)  growth 
E)  promotion 
A)  decline 
B)  maturity 
C)  introduction 
D)  growth 
E)  promotion

Question 5

Which of the following options BEST describes an example of price lining?

Accepted Answer

A)  having the price of each individual song on an online music store be determined by length of song 
B)  having the price of each individual song on an online music store be determined by popularity of the band 
C)  having the price of each individual song on an online music store be determined by user auction 
D)  having the price of each individual song on an online music store be determined by reverse auction 
E)  having the price of each individual song on an online music store be determined by which of several categories the song falls into 
A)  having the price of each individual song on an online music store be determined by length of song 
B)  having the price of each individual song on an online music store be determined by popularity of the band 
C)  having the price of each individual song on an online music store be determined by user auction 
D)  having the price of each individual song on an online music store be determined by reverse auction 
E)  having the price of each individual song on an online music store be determined by which of several categories the song falls into

Question 6

Why might retailer Best Buy price a television at $299.99 rather than $300.00?

Accepted Answer

Over the years,marketers have determined

Question 7

Which of the following assumptions is the strategy of pricing above the market based on?

Accepted Answer

A)  Higher price implies higher quality. 
B)  Higher price means higher customer support. 
C)  Higher prices means higher customer satisfaction. 
D)  Higher price creates higher demand. 
E)  Higher price means easier distribution. 
A)  Higher price implies higher quality. 
B)  Higher price means higher customer support. 
C)  Higher prices means higher customer satisfaction. 
D)  Higher price creates higher demand. 
E)  Higher price means easier distribution.

Question 8

Which of the following is a product benefit of a Southwest Airlines flight to Tucson,Arizona?

Accepted Answer

A)  a pleasant experience because of the friendly crew members 
B)  the Southwest Airlines Web site, where passengers make reservations 
C)  the boarding pass for the flight 
D)  use of a Boeing 737 
E)  the price of the ticket 
A)  a pleasant experience because of the friendly crew members 
B)  the Southwest Airlines Web site, where passengers make reservations 
C)  the boarding pass for the flight 
D)  use of a Boeing 737 
E)  the price of the ticket

Question 9

Where do organizations get new product ideas?

Accepted Answer

Ideas typically come from consumers,the

Question 10

Brilliant Solutions' 15 products for cellphone towers and three products for airport runways are examples of which of the following?

Accepted Answer

A)  product features 
B)  product benefits 
C)  product lines 
D)  value packages 
E)  production items 
A)  product features 
B)  product benefits 
C)  product lines 
D)  value packages 
E)  production items

Question 11

Shopping goods are purchased more often than convenience goods.

Accepted Answer

A) True 
 B)False

Question 12

A product's features may be intangible.

Accepted Answer

A) True 
 B)False

Question 13

The product life cycle describes the commercial life of services as well as goods.

Accepted Answer

A) True 
 B)False

Question 14

How can setting the price for pickled peppers too high yield profits that are lower than the maximum?

Accepted Answer

A)  The high price will cause the convenience goods to become shopping goods. 
B)  The high price will hurt the company's reputation, so the product will decline. 
C)  The high price will generate a large profit per jar, but too few jars will be sold. 
D)  Customers will insist on paying a lower price, resulting in less income. 
E)  The high price will cause expenses to rise, reducing profits. 
A)  The high price will cause the convenience goods to become shopping goods. 
B)  The high price will hurt the company's reputation, so the product will decline. 
C)  The high price will generate a large profit per jar, but too few jars will be sold. 
D)  Customers will insist on paying a lower price, resulting in less income. 
E)  The high price will cause expenses to rise, reducing profits.

Question 15

What is selling the rights to place a brand name on products such as t-shirts referred to as?

Accepted Answer

A)  international branding 
B)  national branding 
C)  private branding 
D)  regional branding 
E)  licensed branding 
A)  international branding 
B)  national branding 
C)  private branding 
D)  regional branding 
E)  licensed branding

Question 16

What is involved in service process design?

Accepted Answer

The design involves three parts.First,pr

Question 17

Which of the following terms refers to the monetary amount added to a product's cost to the seller in order to sell it at a target profit?

Accepted Answer

A)  profit margin 
B)  breakeven cost 
C)  revenue 
D)  revenue margin 
E)  markup 
A)  profit margin 
B)  breakeven cost 
C)  revenue 
D)  revenue margin 
E)  markup

Question 18

Assuming a company has been gathering ideas for new products,what is the next step in the development process?

Accepted Answer

A)  test marketing 
B)  prototype development 
C)  business analysis 
D)  concept testing 
E)  screening 
A)  test marketing 
B)  prototype development 
C)  business analysis 
D)  concept testing 
E)  screening

Question 19

One advantage to marketers of selling online is that it is easier for sellers to hide prices and enjoy a large markup.

Accepted Answer

A) True 
 B)False

Question 20

The sales price of a product is given as the product's cost to the seller plus which of the following quantities?

Accepted Answer

A)  breakeven price 
B)  revenues 
C)  variable price 
D)  fixed point 
E)  markup 
A)  breakeven price 
B)  revenues 
C)  variable price 
D)  fixed point 
E)  markup

For a restaurant making pizzas,the cost of the cheese is a fixed cost.

The process of product development begins with concept testing.

A private brand is a brand name developed by a wholesaler or retailer for their product.

During the product life cycle,when do sales begin to slow down while profit levels are high?

Which of the following options BEST describes an example of price lining?

Why might retailer Best Buy price a television at $299.99 rather than $300.00?

Which of the following assumptions is the strategy of pricing above the market based on?

Which of the following is a product benefit of a Southwest Airlines flight to Tucson,Arizona?

Where do organizations get new product ideas?

Brilliant Solutions' 15 products for cellphone towers and three products for airport runways are examples of which of the following?

Shopping goods are purchased more often than convenience goods.

A product's features may be intangible.

The product life cycle describes the commercial life of services as well as goods.

How can setting the price for pickled peppers too high yield profits that are lower than the maximum?

What is selling the rights to place a brand name on products such as t-shirts referred to as?

What is involved in service process design?

Which of the following terms refers to the monetary amount added to a product's cost to the seller in order to sell it at a target profit?

Assuming a company has been gathering ideas for new products,what is the next step in the development process?

One advantage to marketers of selling online is that it is easier for sellers to hide prices and enjoy a large markup.

The sales price of a product is given as the product's cost to the seller plus which of the following quantities?

The U.S.Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality for Producing Goods and Services

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters

Exam 12: Developing and Pricing Products

For a restaurant making pizzas,the cost of the cheese is a fixed cost.

The process of product development begins with concept testing.

A private brand is a brand name developed by a wholesaler or retailer for their product.

During the product life cycle,when do sales begin to slow down while profit levels are high?

Which of the following options BEST describes an example of price lining?

Why might retailer Best Buy price a television at $299.99 rather than $300.00?

Which of the following assumptions is the strategy of pricing above the market based on?

Which of the following is a product benefit of a Southwest Airlines flight to Tucson,Arizona?

Where do organizations get new product ideas?

Brilliant Solutions' 15 products for cellphone towers and three products for airport runways are examples of which of the following?

Shopping goods are purchased more often than convenience goods.

A product's features may be intangible.

The product life cycle describes the commercial life of services as well as goods.

How can setting the price for pickled peppers too high yield profits that are lower than the maximum?

What is selling the rights to place a brand name on products such as t-shirts referred to as?

What is involved in service process design?

Which of the following terms refers to the monetary amount added to a product's cost to the seller in order to sell it at a target profit?

Assuming a company has been gathering ideas for new products,what is the next step in the development process?

One advantage to marketers of selling online is that it is easier for sellers to hide prices and enjoy a large markup.

The sales price of a product is given as the product's cost to the seller plus which of the following quantities?

The U.S.Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality for Producing Goods and Services

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters