Exam 13: A: Creating and Pricing Products That Satisfy Customers

Koolers Incorporated feels that at its current stage―growth―it needs to meet its competition. It can best do this by all of the following means except

Identify and discuss three types of pricing associated with business products.

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.

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?

Your Way, Inc. Eric buys companies that are small or companies in financial trouble. He helps these companies turn around and develop a competitive advantage. The company that he recently purchased is called Your Way, Inc. The company sells men's clothing and accessories. Your Way keeps the sewing machines for clothes manufacturing at a separate production facility so that the store location space can be reserved for display and selling. After looking over the different products available, Eric realized that the company's previous owner was not aware of the product life-cycle because the company kept items that were obviously too old and out of date. Also, because of the high turnover, employees did not have good knowledge of the different product lines and did not know the difference between a product line and a product mix. To move the company forward, Eric thought of the following two measures: first, developing a new product to incorporate into the product mix; and second, eliminating the out-of-date products. -Refer to Your Way, Inc. What types of product are sold at Your Way?

Which of the following best describes a typical scenario companies use in the commercialization phase?

Consumer products can be divided into the following three categories:

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

Competition-based pricing is

The strategy of setting prices at uneven amounts that are slightly below an even or whole number of dollars is called

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

The total amount received from the sales of a product is referred to as

Automobile fenders are an example of

Which of the following types of brands are the least commonly purchased at grocery stores?

Identify three different types of discounts that a business may offer. Include a brief reason for the use of the discount and a specific example.

The presentation of information on a product or its package is known as

The amount of money that a seller is willing to accept in exchange for a product, at a given time and under given circumstances, is called the

All of the following are business products except

Price leaders

All of the following are characteristics of the maturity stage of the product life-cycle except