Exam 14: Developing and Pricing Goods and Services

Healthy Pick designed a new type of packaging that significantly improves taste and texture of food when defrosted.Unfortunately,firms seldom find that improvements in packaging impact market share and profits.

Currently,which of the following products would most likely be considered in the growth stage of the product life cycle?

New-product failures are most often caused by excessively high prices.

For small businesses,product differentiation:

The trend towards self-service retailers has increased the importance of packaging.

According to the product life cycle model,profits tend to:

Pricing is:

In order to achieve a social objective,firms use low prices to enable people with low incomes to buy their product.

A single product line may contain several competing brands.

Many supermarkets carry plain packages that only identify the name of the product that is inside.For example,a label may read simply "peaches" or "green beans." These goods represent:

Industrial goods are sold in the B2B market.

The degree to which customers are satisfied and are committed to future purchases of a desired brand is called:

The brand names that are used by producers that distribute products nationally are called:

When a brand becomes commonplace and identified with a category of goods rather than the unique product of a specific manufacturer,the brand may become a:

A ________ has direct responsibility for all the elements of the marketing mix for one brand or product line.

Jian has entered into a contract with the federal government to design a computer simulation model for training helicopter pilots.The contract calls for the final price to be set at a fixed percentage profit over and above her cost of production.This seems to represent a:

The marketing efforts for convenience and specialty goods are essentially the same.

Interactive Web sites are useful in the commercialization process for new products.

Creative product differentiation can enable a small business to increase market share.

Product development is a key activity in any modern business,anywhere in the world.