Exam 14: Developing and Pricing Goods and Services

Beth works for Champion Industries overseeing the marketing mix for the firm's line of calculators.Beth serves as a brand manager for Champion Industries.

Successful product differentiation:

Beyonce Financial Services purchased several new personal computers and a sophisticated color laser printer for office use.These items would be correctly classified as accessory equipment.

The four stages in the product life cycle are introduction,market,exchange,and disposal.

Certain brand names,such as Kleenex and Xerox,fear they could become ________,because they are so commonly identified with a specific product category that consumers use these names to refer to any product in that category regardless of the manufacturer.

Which of the following is considered a stage of the new-product development process?

Sales levels of Armstrong mountain bikes are rising rapidly,profits are very high,and a growing number of competitors are taking aim at Armstrong's market lead.Based on this information,Armstrong mountain bikes are in which stage of the product life cycle?

New products often fail because they don't deliver to consumers their promised benefits.

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.

One function of effective packaging is to provide information regarding warranties,benefits,and uses of the good inside the package.

Brand names can significantly impact consumer perceptions of a product.

American Building Products is the largest cement company in the Midwest.When the firm raised its prices by 8 percent,all of its competitors soon announced they too were raising their prices by 8 percent.It appears this industry is influenced by a ________ strategy.

Firms utilize ________ when they attempt to add value to their product by offering service after the sale,product demonstrations,or interactive customer Web sites.

Which of the following is a popular pricing objective?

Brand managers have direct responsibility for all the elements of the marketing mix for a particular brand or product line.

As firms develop their marketing mix,it is important to remember that:

Kathy works as a manager at Fantastic Fabricators.The innovative staff at the company is regularly encouraged to suggest ideas for new products.Since Cathy works in product screening,she:

The Pillsbury Doughboy is an example of a:

Which of the following are products consumers buy after comparing quality,price,and style from a variety of sellers?

Manufacturers' brands carry the brand name of the producers that distribute the products nationally.