Exam 14: Product and Pricing Strategies

Novice Telecom is a manufacturer of cell phones.The company is planning to launch a new model of smart phone and the pre-launch marketing has created much hype in the market.In order to cash in on the hype,the company charges a high price during the initial stages of the product's launch.Identify the pricing strategy this company is using.

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(Multiple Choice)

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Question 1

Correct Answer:

Verified

Explain the significance of labeling.

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(Essay)

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Question 2

Correct Answer:

Verified

Labeling is an integral part of packaging.Whether the label is a separate element attached to the package or a printed part of the container,it serves to identify a brand and communicate multiple types of information,from promotional messages to legally required safety or nutritional data.The labeling of foods,drugs,cosmetics,and many health products is regulated under various federal laws,which often require disclosures about potential dangers,benefits,and other issues consumers need to consider when making a buying decision.

Participative pricing allows customers to pay the amount they think a product is worth.

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(True/False)

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Question 3

Correct Answer:

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True

Which of the following statements is true of a brand extension strategy?

(Multiple Choice)

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Question 4

Target customers are familiar with a brand and are likely to consider buying it.This brand has high brand preference.

(True/False)

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Question 5

Five college graduates decide to open a laundry service company.They import six commercial washing machines from Italy to set up a factory.In this case the commercial washing machines are best referred to as a(n)________.

(Multiple Choice)

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Question 6

Explain how a business analysis is carried out.

(Essay)

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Question 7

A product is called a good if ________.

(Multiple Choice)

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Question 8

________ are everyday individual goods and services that people buy frequently without much conscious planning.

(Multiple Choice)

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Question 9

________ refer to brands that have been given legal protection so that their owners have exclusive rights to their use.

(Multiple Choice)

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Question 10

Expense items are ________.

(Multiple Choice)

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Question 11

The introductory stage will be followed by a ________ stage for a successful product.

(Multiple Choice)

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Question 12

MaCton is a Chinese manufacturer of personal computers.The company decides to extend its product line by adding two premium products that are priced much more than the existing products.Identify the product-line expansion method that the company is using.

(Multiple Choice)

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Question 13

Which of the following refers to a graphical representation of a brand?

(Multiple Choice)

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Question 14

Research and development is carried out usually during the ________ stage of product development.

(Multiple Choice)

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Question 15

Cost-based pricing ________.

(Multiple Choice)

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Question 16

Jennifer buys such items as bread,flour,and beverages every week from nearby shops.These items are examples of a(n)________.

(Multiple Choice)

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Question 17

________ refers to developing items to fill gaps in the market that have been overlooked by competitors or have emerged as consumer tastes and needs shift.

(Multiple Choice)

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Question 18

Crowdsourcing is a technique that companies use to generate new product ideas.

(True/False)

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Question 19

Compare and contrast co-branding and licensing.

(Essay)

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Question 20

Showing 1 - 20 of 100

Explain the significance of labeling.

Participative pricing allows customers to pay the amount they think a product is worth.

Which of the following statements is true of a brand extension strategy?

Target customers are familiar with a brand and are likely to consider buying it.This brand has high brand preference.

Five college graduates decide to open a laundry service company.They import six commercial washing machines from Italy to set up a factory.In this case the commercial washing machines are best referred to as a(n)________.

Explain how a business analysis is carried out.

A product is called a good if ________.

________ are everyday individual goods and services that people buy frequently without much conscious planning.

________ refer to brands that have been given legal protection so that their owners have exclusive rights to their use.

Expense items are ________.

The introductory stage will be followed by a ________ stage for a successful product.

MaCton is a Chinese manufacturer of personal computers.The company decides to extend its product line by adding two premium products that are priced much more than the existing products.Identify the product-line expansion method that the company is using.

Which of the following refers to a graphical representation of a brand?

Research and development is carried out usually during the ________ stage of product development.

Cost-based pricing ________.

Jennifer buys such items as bread,flour,and beverages every week from nearby shops.These items are examples of a(n)________.

________ refers to developing items to fill gaps in the market that have been overlooked by competitors or have emerged as consumer tastes and needs shift.

Crowdsourcing is a technique that companies use to generate new product ideas.

Compare and contrast co-branding and licensing.

Developing a Business Mindset

Understanding Basic Economics

The Global Marketplace

Business Ethics and Corporate Social Responsibility

Forms of Ownership

Entrepreneurship and Small Business Ownership

Management Roles, Functions, and Skills

Organization and Teamwork

Production Systems

Employee Motivation

Human Resources Management

Labor Relations

The Art and Science of Marketing

Distribution and Marketing Logistics

Customer Communication

Financial Information and Accounting Concepts

Financial Management

Financial Markets and Investment Strategies

The Money Supply and Banking Systems

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