Exam 12: Creating and Pricing Products That Satisfy Customers

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

If Texas Instruments hires an accounting firm to compute the company's taxes, the accounting firm is providing a(n) ____ service.

A consumer product for which buyers will not accept a substitute, for which purchasers do not compare alternatives, and that is purchased infrequently and with extra effort on the buyer's part is a ____ product.

An order of calculators with new features just arrived for the finance department of Nike.These calculators represent _____.

The fact that senior citizens are charged a lower price at movie theaters than are younger adults is an example of ____ pricing.

Click It, Inc. Travis is a salesperson for Click It, Inc.Click It does not sell products with its own brand name.Instead, its products are created for different retail stores and carry the store brand.Travis thought that several changes needed to be made to a particular product, but Click It management reminded him that the stores, not Click It, owned the brand. However, because Click It had been concerned about dropping sales, management listened to Travis's concerns about the company's pricing.He suggested using a different pricing strategy.More specifically, he felt that the company should incorporate a multiple-unit pricing strategy because it would then allow Click It to set a single price for multiple units.This had the potential of increasing sales and therefore profits, so management agreed to consider Travis's suggestion. -Energizer batteries are sold in multipacks to make it more convenient for the consumer, who usually needs more than one battery at a time.Energizer batteries would be classified as a ____ product.

Which of the following is not a major factor contributing to brand equity?

Innovations are much less common than imitations and adaptations.

Identify and discuss three types of pricing associated with business products.

Click It, Inc. Travis is a salesperson for Click It, Inc.Click It does not sell products with its own brand name.Instead, its products are created for different retail stores and carry the store brand.Travis thought that several changes needed to be made to a particular product, but Click It management reminded him that the stores, not Click It, owned the brand. However, because Click It had been concerned about dropping sales, management listened to Travis's concerns about the company's pricing.He suggested using a different pricing strategy.More specifically, he felt that the company should incorporate a multiple-unit pricing strategy because it would then allow Click It to set a single price for multiple units.This had the potential of increasing sales and therefore profits, so management agreed to consider Travis's suggestion. -Refer to Click It, Inc.When Travis thinks of products and brands adding value to the company that sells them, which concept is he referring to?

Which of the following is a manufacturer brand?

All of the following except which are functions of packaging?

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

A symbol or word that is registered with the U.S.Patent and Trademark Office and is thus legally protected from use by anyone but its owner is a _____.

Describe the three major pricing methods that firms employ.

Equate, a brand of health and beauty care products, is available only at Wal-Mart stores.Equate is a ____ brand.

The supply curve demonstrates that the quantity supplied by producers decreases as the price increases.

A pricing strategy in which a manufacturer pays for the shipping cost of its merchandise to the wholesaler is called ____ pricing.

Car-Tunes, a national car stereo retailer, markets stereos and speakers.The company will soon sell car alarms and cellular phones to ____ its product mix.

Which of the following is not generally considered to be a stage in the product life cycle?