Exam 12: Creating and Pricing Products That Satisfy Customers

At a busy intersection in Atlanta, there are four competing gas stations.Each of the stations charges about the same for each gallon of gasoline.The pricing objectives of these firms is _____.

The stage in the evolution of new products in which the product is introduced in a limited way to determine buyers' reactions is called _____.

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

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?

Under what circumstances might a firm use survival pricing objectives? How would a firm implement such a strategy?

Discounts offered to encourage early payment are called ____ discounts.

A number of federal regulations specify the information that must be included in labeling.Which of the following is not specified?

Mama Mia restaurant purchased two large ovens for its kitchen.These ovens are an example of which type of business product?

Hallmark cards develops a new line of cards that have a total cost of $200,000 and a price of $3 each.If it sells 20,000 cards the first month, what is its total revenue?

Price leaders

If Tyson, a poultry producer, decided to start producing veggie burgers, this would be an example of

Some pricing objectives include surviving, maximizing profit, obtaining market share goals, and maintaining status quo.

Rose is starting to notice some wrinkles around her eyes and mouth.She has decided to purchase some age-defying wrinkle cream but is unfamiliar with available brands.At the store, she picks out a brand because she remembers a clever advertisement about it on television.What level of brand loyalty does this describe?

Costs that depend on the number of units produced are called _____.

In her local supermarket Susan purchases green beans in a white can simply labeled as green beans.This represents a(n) ____ brand.

Demand-based pricing, unlike cost-based pricing, places firms in a better position to

Sheet steel to be used in making automobile fenders is an example of _____.

Lisa goes to a car dealership to purchase a new Honda Accord.She is not willing to pay the listed sticker price for the car, and she instead works with the salesperson and manager until a mutually satisfactory price is agreed upon.This is an example of ____ pricing.

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

There are two dimensions to a firm's product mix: volume and breadth.