Exam 12: Aproduct Development and Pricing Strategies

Which business product classification is most appropriate for the wire used inside a stereo system?

Products that are designed to be similar to and compete with existing products of other firms are called

A good or service intended primarily for use in producing other goods or services is a ____ product.

Price allocates goods and services among those who are willing and able to pay for them.

In cost-based pricing, a producer adds an amount to the total production cost to provide a profit.The amount added to the production cost is called a

During which phase of the product development process can marketers experiment with advertising, pricing, and packaging in different geographic areas?

If Nabisco had established a pricing objective of selling one out of every three crackers consumed in the world, it would have established an objective based on

For a product such as staples, which of the following determines whether it is a consumer product or a business product?

Ties 'R' Us sells a variety of ties at many different prices.Often customers are confused about the pricing and have a hard time making a buying decision.Ties 'R' Us should use what type of pricing strategy?

All of the following are business products except

As the product idea committee of Foster Manufacturing Company went through its list of possible new products, it rejected various ideas for one or more reasons.Which of the following is least likely to be a reason for rejection?

For any product, the breakeven quantity is the

A company wanting to maximise profits from its new product would use product-line pricing.

In the decline life-cycle stage of a product, less profitable versions of the product are sold at reduced rates to cut losses.

Buyers may relate price to quality.To such a buyer, a higher price for a product is an indicator of

To promote an overall company image, Borden dairy products are packaged in similar designs and colors.This approach is known as

Koolers Incorporated feels that at its current stage-growth-it needs to meet its competition.It can best do this by all of the following means except

If a customer has moderate loyalty toward Heinz ketchup, she likely will

In some cases, prices are assigned to goods on the basis of nothing more than customs and traditions.

A price of €5.95 for a product would fall into the category of odd-number pricing.