Question 1

Price serves the function of ____ for goods, services, and financial resources.

Accepted Answer

A)  Distributor 
B)  determining factor 
C)  Screener 
D)  Quantifier 
E)  Allocator 
A)  Distributor 
B)  determining factor 
C)  Screener 
D)  Quantifier 
E)  Allocator

Question 2

The stage in the evolution of new products in which the product is launched into full-scale manufacturing and marketing is called

Accepted Answer

A)  test marketing. 
B)  business analysis. 
C)  screening. 
D)  product development. 
E)  commercialisation. 
A)  test marketing. 
B)  business analysis. 
C)  screening. 
D)  product development. 
E)  commercialisation.

Question 3

Multiple-unit pricing is packaging together two or more complementary products and selling them for a single price.

Accepted Answer

A) True 
 B)False

Question 4

Hillary has a new product idea that aligns well with her company's current organisational resources.She puts together a presentation for potential buyers and requests feedback on their reactions and suggestions.Hillary is

Accepted Answer

A)  screening. 
B)  generating product ideas. 
C)  test marketing. 
D)  conducting a business analysis. 
E)  concept testing. 
A)  screening. 
B)  generating product ideas. 
C)  test marketing. 
D)  conducting a business analysis. 
E)  concept testing.

Question 5

The product life-cycle stage in which there is a decrease in the rate of sales growth, the sales curve begins to decline, and dealers simplify their product lines is called

Accepted Answer

A)  growth. 
B)  decline. 
C)  extension. 
D)  introduction. 
E)  maturity. 
A)  growth. 
B)  decline. 
C)  extension. 
D)  introduction. 
E)  maturity.

Question 6

For product modification to be effective, all but which of the following conditions must be met?

Accepted Answer

A)  The modification should make the product more consistent with consumers' desires. 
B)  The product must be modifiable. 
C)  Consumers must be able to perceive that a modification has been made. 
D)  Modification should allow the product to provide greater satisfaction. 
E)  The product must be an appliance. 
A)  The modification should make the product more consistent with consumers' desires. 
B)  The product must be modifiable. 
C)  Consumers must be able to perceive that a modification has been made. 
D)  Modification should allow the product to provide greater satisfaction. 
E)  The product must be an appliance.

Question 7

A branding strategy in which a firm uses the same brand for all or most of its products is called ____ branding.

Accepted Answer

A)  producer 
B)  individual 
C)  Unity 
D)  family 
E)  promotion 
A)  producer 
B)  individual 
C)  Unity 
D)  family 
E)  promotion

Question 8

Product ideas are transformed into prototypes during which stage of the product development process?

Accepted Answer

A)  Business analysis 
B)  Test marketing 
C)  Commercialisation 
D)  Product development 
E)  Concept testing 
A)  Business analysis 
B)  Test marketing 
C)  Commercialisation 
D)  Product development 
E)  Concept testing

Question 9

In which order do the stages of the product life-cycle occur?

Accepted Answer

A)  Growth, introduction, maturity, decline 
B)  Introduction, maturity, slowdown, decline 
C)  Innovation, distribution, maturity, decline 
D)  Introduction, growth, maturity, decline 
E)  Introduction, growth, slowdown, decline 
A)  Growth, introduction, maturity, decline 
B)  Introduction, maturity, slowdown, decline 
C)  Innovation, distribution, maturity, decline 
D)  Introduction, growth, maturity, decline 
E)  Introduction, growth, slowdown, decline

Question 10

Discounts offered to encourage early payment of outstanding accounts are called ____ discounts.

Accepted Answer

A)  Trade 
B)  Cash 
C)  wholesale 
D)  quantity 
E)  preferential 
A)  Trade 
B)  Cash 
C)  wholesale 
D)  quantity 
E)  preferential

Question 11

A trade discount is the price producers set to draw the public's attention to new products.

Accepted Answer

A) True 
 B)False

Question 12

A brand mark is the part of a brand that consists of a symbol or distinctive design.

Accepted Answer

A) True 
 B)False

Question 13

The presentation of information on a product or its package is known as

Accepted Answer

A)  branding. 
B)  labelling. 
C)  guaranteeing. 
D)  informing. 
E)  product coding. 
A)  branding. 
B)  labelling. 
C)  guaranteeing. 
D)  informing. 
E)  product coding.

Question 14

Texaco, Exxon, and Ford are examples of a store brand.

Accepted Answer

A) True 
 B)False

Question 15

TCBY wants to expand its line of food products.The company sent surveys to consumers to determine which food items would appeal to them for dessert or snacks.The company is in which phase of new product development?

Accepted Answer

A)  Idea generation 
B)  Product development 
C)  Test marketing 
D)  Screening 
E)  Business analysis 
A)  Idea generation 
B)  Product development 
C)  Test marketing 
D)  Screening 
E)  Business analysis

Question 16

Odd-number pricing is limited to low-priced items.

Accepted Answer

A) True 
 B)False

Question 17

A trademark is registered with the

Accepted Answer

A)  Department of Affairs. 
B)  Office of the Attorney General. 
C)  Patent and Trademark Office. 
D)  Registrar of Patents and Inventors. 
E)  Department of Commerce. 
A)  Department of Affairs. 
B)  Office of the Attorney General. 
C)  Patent and Trademark Office. 
D)  Registrar of Patents and Inventors. 
E)  Department of Commerce.

Question 18

Philip James asks you to calculate the breakeven point for him.You need which information from him to do so?

Accepted Answer

A)  Euro values for all assets and owners' equity 
B)  Fixed costs, operating expenses, and net income 
C)  Euro values for all assets and all liabilities 
D)  Unit costs and fixed costs 
E)  Variable costs per unit, fixed costs, and unit selling price 
A)  Euro values for all assets and owners' equity 
B)  Fixed costs, operating expenses, and net income 
C)  Euro values for all assets and all liabilities 
D)  Unit costs and fixed costs 
E)  Variable costs per unit, fixed costs, and unit selling price

Question 19

Martin always chooses Colgate toothpaste at his local drug store.However, when the store occasionally runs out of Colgate, he will purchase Crest or Mentadent.What level of brand loyalty does Martin have to Colgate?

Accepted Answer

A)  Awareness 
B)  Insistence 
C)  Preference 
D)  Resistance 
E)  Partiality 
A)  Awareness 
B)  Insistence 
C)  Preference 
D)  Resistance 
E)  Partiality

Question 20

The quantity of a product that a producer is willing to sell at various prices is called

Accepted Answer

A)  supply. 
B)  inventory. 
C)  stock. 
D)  demand. 
E)  breakeven quantity. 
A)  supply. 
B)  inventory. 
C)  stock. 
D)  demand. 
E)  breakeven quantity.

Price serves the function of ____ for goods, services, and financial resources.

The stage in the evolution of new products in which the product is launched into full-scale manufacturing and marketing is called

Multiple-unit pricing is packaging together two or more complementary products and selling them for a single price.

Hillary has a new product idea that aligns well with her company's current organisational resources.She puts together a presentation for potential buyers and requests feedback on their reactions and suggestions.Hillary is

The product life-cycle stage in which there is a decrease in the rate of sales growth, the sales curve begins to decline, and dealers simplify their product lines is called

For product modification to be effective, all but which of the following conditions must be met?

A branding strategy in which a firm uses the same brand for all or most of its products is called ____ branding.

Product ideas are transformed into prototypes during which stage of the product development process?

In which order do the stages of the product life-cycle occur?

Discounts offered to encourage early payment of outstanding accounts are called ____ discounts.

A trade discount is the price producers set to draw the public's attention to new products.

A brand mark is the part of a brand that consists of a symbol or distinctive design.

The presentation of information on a product or its package is known as

Texaco, Exxon, and Ford are examples of a store brand.

TCBY wants to expand its line of food products.The company sent surveys to consumers to determine which food items would appeal to them for dessert or snacks.The company is in which phase of new product development?

Odd-number pricing is limited to low-priced items.

A trademark is registered with the

Philip James asks you to calculate the breakeven point for him.You need which information from him to do so?

Martin always chooses Colgate toothpaste at his local drug store.However, when the store occasionally runs out of Colgate, he will purchase Crest or Mentadent.What level of brand loyalty does Martin have to Colgate?

The quantity of a product that a producer is willing to sell at various prices is called

Introduction to Business

Responsible Business

Global Business

Types of Business Ownership

Small Business, Entrepreneurship, and Franchises

Leadership and Managing a Business

Flexibility Within the Organisation

Products and Services

Recruitment and Retaining the Best Employees

Employee Motivation and Team Building

The Marketing Concept

Marketing Channels

Marketing Communications

Social Media and E-Business

Introduction to Management Accounting

Money and the Banking System

Financial Management

Personal Finances and Investments

Filters

Exam 12: Aproduct Development and Pricing Strategies

Price serves the function of ____ for goods, services, and financial resources.

The stage in the evolution of new products in which the product is launched into full-scale manufacturing and marketing is called

Multiple-unit pricing is packaging together two or more complementary products and selling them for a single price.

Hillary has a new product idea that aligns well with her company's current organisational resources.She puts together a presentation for potential buyers and requests feedback on their reactions and suggestions.Hillary is

The product life-cycle stage in which there is a decrease in the rate of sales growth, the sales curve begins to decline, and dealers simplify their product lines is called

For product modification to be effective, all but which of the following conditions must be met?

A branding strategy in which a firm uses the same brand for all or most of its products is called ____ branding.

Product ideas are transformed into prototypes during which stage of the product development process?

In which order do the stages of the product life-cycle occur?

Discounts offered to encourage early payment of outstanding accounts are called ____ discounts.

A trade discount is the price producers set to draw the public's attention to new products.

A brand mark is the part of a brand that consists of a symbol or distinctive design.

The presentation of information on a product or its package is known as

Texaco, Exxon, and Ford are examples of a store brand.

TCBY wants to expand its line of food products.The company sent surveys to consumers to determine which food items would appeal to them for dessert or snacks.The company is in which phase of new product development?

Odd-number pricing is limited to low-priced items.

A trademark is registered with the

Philip James asks you to calculate the breakeven point for him.You need which information from him to do so?

Martin always chooses Colgate toothpaste at his local drug store.However, when the store occasionally runs out of Colgate, he will purchase Crest or Mentadent.What level of brand loyalty does Martin have to Colgate?

The quantity of a product that a producer is willing to sell at various prices is called

Introduction to Business

Responsible Business

Global Business

Types of Business Ownership

Small Business, Entrepreneurship, and Franchises

Leadership and Managing a Business

Flexibility Within the Organisation

Products and Services

Recruitment and Retaining the Best Employees

Employee Motivation and Team Building

The Marketing Concept

Marketing Channels

Marketing Communications

Social Media and E-Business

Introduction to Management Accounting

Money and the Banking System

Financial Management

Personal Finances and Investments

Filters