Exam 13: Product Development and Pricing Strategies

During product development and concept testing, ideas that survive the screening and analysis steps are analyzed further.

The many product lines at Procter & Gamble are an example of product ________.

The only revenue-generating component of the marketing mix is ________.

A food manufacturer doing market research on the possible customer demand for a new fast food item is an example of ________.

Business-to-business (B2B)products are goods and services purchased by households for personal consumption.

An agreement between the owner of a brand and another company or individual who pays a royalty for the use of the brand in association with a new product is brand ________.

A theoretical model describing a product's sales and profits over the course of its existence is known as the product ________.

Brand awareness involves connecting a brand with other positive attributes.

Which of the following is an example of a B2B product?

People selling stock operate in very competitive market and have little to no control over their prices. Such sellers are price- ________.

A whole shelf of snack food bags is marked, "Frito-Lay." This is an example of a(n)________ brand.

Packaging milk in a sealed bag that does not require refrigeration is an example of creating new markets.

Describe the commercialization step of product development.

Outsourced accounting is an example of ________.

The process of distinguishing a product from its competition in real or perceived terms to attract customers is called product ________.

Give an example of a company that uses the pricing strategy of bundling.

If a company sets its price to increase its percentage of total industry sales, the company is using the pricing objective of maximizing profits.

Branding benefits ________.

The Fair Packaging and Labeling Act of 1966 requires companies to identify all of the following EXCEPT the ________.

Brand awareness refers to the extent to which a particular brand name is familiar within a particular product category.