Exam 13: Product Development and Pricing Strategies

Use and convenience are unimportant when planning packaging for products.

A Ferrari sports car is an example of an unsought good.

All of the following are degrees of brand loyalty EXCEPT brand ________.

A legally protected brand is called a(n)________.

A ________ prevents a brand from becoming generic and public property.

Give an example of a company following the pricing objective of maximizing profits.

The package design, shape, color, and texture all influence buyers' perceptions, but do not influence buying behavior.

Product labels enable consumers to always clearly understand what they are purchasing.

Distinguish between product line length and product mix width.

A new freelance writer who sets a price at a level to generate just enough revenues to pay expenses is using the pricing objective of ________.

An advertising campaign that attempts to sell a product to a new subgroup of the existing market is an example of ________.

A store that sets its prices at the same level as the store across the mall is using the pricing objective of ________.

A manufacturer produces 200 units of a product at a cost of $1,000. If the manufacturer wants to make a markup of 10 percent, the price would be ________.

How does a company benefit from product differentiation?

In order for customers to acquire a total product offering, they must offer the ________.

Customer input and feedback have no effect on how companies shape their products.

A company that announces a manufacturer's suggested retail price and then offers a discount off that price is using ________ pricing.

What are the seven steps in new product development?

An e-commerce Web site gives frequent shoppers a deduction from its regular prices. This is an example of ________.

All of the following are stages in the product life cycle EXCEPT ________.