Question 1

_____ segmentation is based on what the product will do rather than on consumer characteristics.

Accepted Answer

A) Benefit 
B) Volume 
C) Demographic 
D) Psychographic 
E) Logical 
A) Benefit 
B) Volume 
C) Demographic 
D) Psychographic 
E) Logical

Question 2

Miller Nwagi will not ride in elevators because he perceives them to be confining boxes that could fall.He refused to visit a store, which was selling his favorite brand of pipe tobacco, because the store could only be reached with an elevator.This would be an example of how _____ influences determine consumer buying decisions

Accepted Answer

A) physiological 
B) social 
C) cultural 
D) individual 
E) psychological 
A) physiological 
B) social 
C) cultural 
D) individual 
E) psychological

Question 3

What are the two classifications of business products?

Accepted Answer

capital pr

Question 4

In which stage of the product life cycle are you most likely to find the manufacturer using a line extension strategy?

Accepted Answer

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

Question 5

A pharmaceutical company with headquarters in India sells fluconazole, the generic version of Pfizer's anti-fungal drug Diflucan internationally for significantly less money than many U.S.generic drug manufacturers.The generic drugs industry in this country needs to rethink its _____ strategy to stay competitive.

Accepted Answer

A) place 
B) promotion 
C) pricing 
D) possession 
E) production 
A) place 
B) promotion 
C) pricing 
D) possession 
E) production

Question 6

What is the marketing concept?

Accepted Answer

the identification of consumer

Question 7

Which of the following business products would be considered an accessory in the offices of a travel agency?

Accepted Answer

A) rubber bands and pencils 
B) filing cabinet 
C) brochures from various tourist destinations 
D) billing invoices 
E) all of the above 
A) rubber bands and pencils 
B) filing cabinet 
C) brochures from various tourist destinations 
D) billing invoices 
E) all of the above

Question 8

A company has developed a keyboard that is virtually indestructible.It is trying to decide how to get its product into the hands of people like to use their computers while they eat lunch.The company is concerned with the _____ strategy.

Accepted Answer

place or d

Question 9

______ segmentation is market segmentation by personality or lifestyle.

Accepted Answer

The answer of ______ segmentation is market segmentation by personality...

Question 10

The marketing concept:

Accepted Answer

A) satisfies customer wants and needs legally and responsibly 
B) is only concerned with the achievement of short-term goals 
C) is not concerned with what the competition is doing 
D) only affects an organization's marketing department 
E) does all of the above 
A) satisfies customer wants and needs legally and responsibly 
B) is only concerned with the achievement of short-term goals 
C) is not concerned with what the competition is doing 
D) only affects an organization's marketing department 
E) does all of the above

Question 11

Which of the following is an example of a capital product that would be found in a brewery?

Accepted Answer

A) bottle labels 
B) glass bottles 
C) bottling machine 
D) hops to make the beer 
E) bottle caps 
A) bottle labels 
B) glass bottles 
C) bottling machine 
D) hops to make the beer 
E) bottle caps

Question 12

In selling telephone service, AT&T tries to gather as much information as possible about the consumer's income, buying habits, service preferences, and occupation.AT&T is utilizing:

Accepted Answer

A) psychographic data 
B) mass customization 
C) niche marketing 
D) marketing research 
E) marketing customization 
A) psychographic data 
B) mass customization 
C) niche marketing 
D) marketing research 
E) marketing customization

Question 13

Pricing products below the normal markup or even below cost to attract customers is called bait pricing.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is a consumer nondurable?

Accepted Answer

A) dishwasher 
B) swimming pool 
C) laptop computer 
D) breakfast cereal 
E) television set 
A) dishwasher 
B) swimming pool 
C) laptop computer 
D) breakfast cereal 
E) television set

Question 15

The Library is a new bar in town.Unlike the other bars in town, it charges no cover charge.The new bar has also priced its beer at $3 less per pitcher than its competition.Given what you know about pricing strategies, which pricing strategy is the owner of the new bar using?

Accepted Answer

A) price skimming 
B) penetration pricing 
C) market share pricing 
D) limited value pricing 
E) low-ball pricing 
A) price skimming 
B) penetration pricing 
C) market share pricing 
D) limited value pricing 
E) low-ball pricing

Question 16

Which of the following is considered an expense item for a dentist's office?

Accepted Answer

A) a computer system 
B) peroxide for whitening teeth 
C) dental x-ray equipment 
D) office filing cabinet 
E) dental examination chair 
A) a computer system 
B) peroxide for whitening teeth 
C) dental x-ray equipment 
D) office filing cabinet 
E) dental examination chair

Question 17

There are a lot of talented people.Many singers who have not been discovered are as talented or more so than some of the best-known musical artists.For instance, pricing a musical act at $20,000 when a small community arts center can get just as great an entertainment experience for its audience for $5,000 is an example of:

Accepted Answer

A) price lining 
B) snob pricing 
C) prestige pricing 
D) over-value pricing 
E) demand-based pricing 
A) price lining 
B) snob pricing 
C) prestige pricing 
D) over-value pricing 
E) demand-based pricing

Question 18

The marketing concept emphasizes a consumer orientation.

Accepted Answer

A) True 
 B)False

Question 19

According to the _____, a firm should first identify consumer needs and then produce the goods and services that will satisfy them.

Accepted Answer

A) market mission statement 
B) customer satisfier 
C) sales concept 
D) total exchange concept 
E) marketing concept 
A) market mission statement 
B) customer satisfier 
C) sales concept 
D) total exchange concept 
E) marketing concept

Question 20

The _____ is a specific group of consumers toward which a firm directs its marketing efforts.

Accepted Answer

A) population sample 
B) package market 
C) demand group 
D) target market 
E) utility group 
A) population sample 
B) package market 
C) demand group 
D) target market 
E) utility group

_____ segmentation is based on what the product will do rather than on consumer characteristics.

What are the two classifications of business products?

In which stage of the product life cycle are you most likely to find the manufacturer using a line extension strategy?

What is the marketing concept?

Which of the following business products would be considered an accessory in the offices of a travel agency?

A company has developed a keyboard that is virtually indestructible.It is trying to decide how to get its product into the hands of people like to use their computers while they eat lunch.The company is concerned with the _____ strategy.

______ segmentation is market segmentation by personality or lifestyle.

The marketing concept:

Which of the following is an example of a capital product that would be found in a brewery?

In selling telephone service, AT&T tries to gather as much information as possible about the consumer's income, buying habits, service preferences, and occupation.AT&T is utilizing:

Pricing products below the normal markup or even below cost to attract customers is called bait pricing.

Which of the following is a consumer nondurable?

The Library is a new bar in town.Unlike the other bars in town, it charges no cover charge.The new bar has also priced its beer at $3 less per pitcher than its competition.Given what you know about pricing strategies, which pricing strategy is the owner of the new bar using?

Which of the following is considered an expense item for a dentist's office?

The marketing concept emphasizes a consumer orientation.

According to the _____, a firm should first identify consumer needs and then produce the goods and services that will satisfy them.

The _____ is a specific group of consumers toward which a firm directs its marketing efforts.

Understanding Economic Systems and Business

Making Ethical Decisions and Managing a Socially Responsible Business

Competing in the Global Marketplace

Forms of Business Ownership

Entrepreneurship: Starting and Managing Your Own Business

Management and Leadership in Todays Organizations

Designing Organizational Structures

Managing Human Resources and Labor Relations

Motivating Employees

Achieving World-Class Operations Management

Distributing and Promoting Products and Services

Using Technology to Manage Information

Using Financial Information and Accounting

Understanding Money and Financial Institutions

Understanding Financial Management and Securities Markets

Your Career in Business

Filters

Exam 11: Creating Products and Pricing Strategies to Meet Customers Needs

_____ segmentation is based on what the product will do rather than on consumer characteristics.

What are the two classifications of business products?

In which stage of the product life cycle are you most likely to find the manufacturer using a line extension strategy?

What is the marketing concept?

Which of the following business products would be considered an accessory in the offices of a travel agency?

A company has developed a keyboard that is virtually indestructible.It is trying to decide how to get its product into the hands of people like to use their computers while they eat lunch.The company is concerned with the _____ strategy.

______ segmentation is market segmentation by personality or lifestyle.

The marketing concept:

Which of the following is an example of a capital product that would be found in a brewery?

In selling telephone service, AT&T tries to gather as much information as possible about the consumer's income, buying habits, service preferences, and occupation.AT&T is utilizing:

Pricing products below the normal markup or even below cost to attract customers is called bait pricing.

Which of the following is a consumer nondurable?

The Library is a new bar in town.Unlike the other bars in town, it charges no cover charge.The new bar has also priced its beer at $3 less per pitcher than its competition.Given what you know about pricing strategies, which pricing strategy is the owner of the new bar using?

Which of the following is considered an expense item for a dentist's office?

The marketing concept emphasizes a consumer orientation.

According to the _____, a firm should first identify consumer needs and then produce the goods and services that will satisfy them.

The _____ is a specific group of consumers toward which a firm directs its marketing efforts.

Understanding Economic Systems and Business

Making Ethical Decisions and Managing a Socially Responsible Business

Competing in the Global Marketplace

Forms of Business Ownership

Entrepreneurship: Starting and Managing Your Own Business

Management and Leadership in Todays Organizations

Designing Organizational Structures

Managing Human Resources and Labor Relations

Motivating Employees

Achieving World-Class Operations Management

Distributing and Promoting Products and Services

Using Technology to Manage Information

Using Financial Information and Accounting

Understanding Money and Financial Institutions

Understanding Financial Management and Securities Markets

Your Career in Business

Filters