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

Walgreens advertises the fact that Bayer aspirin may cost more but works no better than Walgreens own brand of aspirin. In this example, Walgreen's is competing on the basis of

Click It, Inc. Travis is a salesperson for Click It, Inc. Click It does not sell products with its own brand name. Instead, its products are created for different retail stores and carry the store brand. Travis thought that several changes needed to be made to a particular product, but Click It management reminded him that the stores, not Click It, owned the brand. However, because Click It had been concerned about dropping sales, management listened to Travis's concerns about the company's pricing. He suggested using a different pricing strategy. More specifically, he felt that the company should incorporate a multiple-unit pricing strategy because it would then allow Click It to set a single price for multiple units. This had the potential of increasing sales and therefore profits, so management agreed to consider Travis's suggestion. -Refer to Click It, Inc. When Click It displays information on a product or its package, this refers to

An order of calculators with new features just arrived for the finance department of Nike. These calculators represent

Inside the packaging of a Calphalon coffee maker, Ginger finds a paper stating, "All our products will be replaced within the first year if they fail to operate correctly. However, consumer misuse or abuse will effectively end this policy." This is a(n)

Price serves the function of ____ for goods, services, and financial resources.

The temporary reduction of prices on a patterned or systemic basis is called

A new product should be left in a test market long enough to

Everything that one receives in an exchange, including all tangible and intangible attributes and expected benefits, is called a

A trademark is registered with the

All of the following are stages in the evolution of new products except

The stage in the evolution of new products in which ideas that match company objectives are analyzed as to whether the firm has the required expertise for the product's development and marketing is called

A good or service that is intended primarily for personal or household use is called a(n) ____ product.

The part of the package that contains the presentation of information on a product is called a

The stage in the evolution of a new product in which a pool of ideas is created is called

The Glo-Brite Company is considering development of a new children's toothpaste in fun-shaped dispensers. Before performing any business analysis on the product, Glo-Brite would like an initial response from potential customers to determine interest in a toothpaste of this type. Glo-Brite will begin ____ to gather the information.

AT&T charges different rates for long-distance service depending on time of day and distance of the call. This pricing method is called ____ pricing.

Which of the following is not a major factor contributing to brand equity?

When Duracell came out with a new battery that significantly outlasted the company's earlier product, the battery had undergone a(n) ____ modification.

Identify and describe the major stages of the product life-cycle.

The label on a bag of Fritos is not required to describe the