Exam 7: Product-Selling Strategies That Add Value

The first step in establishing a product price is to determine the firm's pricing ________.

In recent years, the "fax attack" model of car shopping has become popular. In a "fax attack," a customer sends a fax to every car dealership within a certain radius listing the make and features of the car they would like, along with the price they are willing to pay, and asks dealerships that will match that price to contact the customer. In essence, the customers set both the features and the price for the car. McCall Automotive has experienced a sharp increase in the number of fax attacks, and Phil, the sales manager, is seeking methods for addressing the situation. Phil is also concerned about the dealership's positioning strategies and market share. -McCall Automotive sells a large number of well-established minivans,such as the Dodge Caravan and Honda Odyssey.Now,the dealership has a new vehicle that it must position-a hybrid minivan.What will be the best strategy for positioning the new hybrid minivan?

Value creation investments are the highest in:

Which of the following is NOT a service-quality dimension?

In recent years, the "fax attack" model of car shopping has become popular. In a "fax attack," a customer sends a fax to every car dealership within a certain radius listing the make and features of the car they would like, along with the price they are willing to pay, and asks dealerships that will match that price to contact the customer. In essence, the customers set both the features and the price for the car. McCall Automotive has experienced a sharp increase in the number of fax attacks, and Phil, the sales manager, is seeking methods for addressing the situation. Phil is also concerned about the dealership's positioning strategies and market share. -Phil believes that the dealership should lower car prices to capture a higher share of the market.Which statement best supports Phil's argument?

Which of the following statements about pricing policies is most likely true?

For a growing number of customers,short-term savings that result from low prices are more important than long-term value.

Research reported in the Harvard Business Review indicates that it is very difficult to build customer loyalty if a firm is selling only the ________ product.

Products are born,and then they grow up and become mature.In marketing,this process is known as the ________.

What is the most likely drawback of using too many technical terms during a sales presentation?

The stages a product goes through from the time it is first introduced to the market until it is discontinued is called the:

Positioning is the set of benefits and values the company promises to deliver to customers to satisfy their needs.

A designer releases her fall line of handbags, including one that retails for $6,000. This bag is a limited edition; only 500 will be produced, and orders will only be accepted from clients who have previously purchased a handbag from the designer. Customers will be put on a waitlist in the order in which the handbag orders are received. -How is this handbag being positioned and differentiated from other handbags similar in manufacturing and look?

People buy products if they fulfill a problem-solving need.

Today,the primary goal of the value-added concept is to add value by lowering the price of the product.

Yellow Freight Systems must provide clean,well-maintained trucks and well-trained drivers.This is most likely an example of a(n):

Salespeople can benefit from viewing every product as being four-dimensional.List the four "possible" products.

As the level of competition increases,especially in the case of a mature product,salespeople should most likely consider future possibilities,known as the ________ product.

A salesperson would most likely use a CRM system to:

In order to bring the Walker Hotel and Convention Center up to industry standards,each guest room was redecorated with new wallpaper,drapes,carpeting,mattresses,and sofas.Melanie Simms,sales manager for the Center,has recommended that guest rooms be upgraded with the addition of wide desks,free wi-fi,and 24-hour room service.From the viewpoint of most business travelers,these changes would result in the creation of a(n):