Exam 14: Developing and Pricing Goods and Services

The combination of all the factors that consumers evaluate when deciding whether or not to buy a good or service is called a

Fashion experts readily understand the power of ________. Shortly after Kate Middleton married Prince William, throngs of soon-to-be-brides scrambled to find copies of her bridal gown, and also that of her sister Pippa's bridesmaid gown.

Unsought goods and services fail to provide the benefits consumers expect.

Brand association is the linking of a brand to other favorable images such as a celebrity or geographic location.

Employees, not the firm's research and development department, are the number one source of ideas for new industrial products.

The exclusive goal companies expect of packaging is to protect the product from damage in transit.

The most common classification of consumer goods and services is based on producer or manufacturer behavior in the market.

Unsought goods and services are products consumers do not actively seek out for purchase on a regular basis.

Many products are promoted by emphasizing their key benefits, rather than setting the price lower than that of competitive goods. This emphasis on the product's benefits illustrates a(n) ________ strategy.

Paper clips, stationery, and other office supplies used by businesses are types of industrial support goods.

Chevrolet is an example of a generic name in the automobile market.

Which of the following products would normally be classified as a shopping good or service?

Federal legislation requires that the brand name of a product clearly identify the manufacturer of that product.

Sears sells batteries under its own Diehard brand name even though another company actually produces these batteries. This is an example of a

Rosalita's and Antonio's are Mexican restaurant chains. Each restaurant offers similar items on their menus. However, Antonio's restaurants are positioned in the market as elegant establishments with high prices. Rosalita's, on the other hand, are located in middle-class neighborhoods, with a casual atmosphere that welcomes families with young children. The prices at Rosalita's are in the moderate range. When evaluating the marketing strategies used by these restaurants, we can conclude that

Which of the following products would be considered an unsought good or service by a typical college student?

Which stage of the product life cycle does rapidly rising sales, very high profit levels, and a growing number of competitors characterize?

The cost of raw materials used to produce a good or service represent the firm's ________ costs.

Which of the following is consistent with the introduction stage of the product life cycle?

Which of the following statements about packaging is the most accurate?