Question 1

Charging different prices to different customers when these price differences are not a reflection of cost differences is called price ________.

Accepted Answer

A)  discrimination 
B)  targeting 
C)  valuation 
D)  costing 
E)  referencing 
A)  discrimination 
B)  targeting 
C)  valuation 
D)  costing 
E)  referencing

Question 2

Price ________ involves charging a high price for a product initially,then lowering the price over time.

Accepted Answer

A)  discrimination 
B)  penetration 
C)  predation 
D)  skimming 
E)  targeting 
A)  discrimination 
B)  penetration 
C)  predation 
D)  skimming 
E)  targeting

Question 3

A group of similar products marketed to one general market is called a product ________.

Accepted Answer

A)  mix 
B)  length 
C)  line 
D)  width 
E)  variety 
A)  mix 
B)  length 
C)  line 
D)  width 
E)  variety

Question 4

The blue Tiffany & Co.box is an example of which purpose of packaging?

Accepted Answer

A)  to contain and protect the product 
B)  to facilitate use and convenience 
C)  to be environmentally friendly 
D)  to promote the product 
E)  to provide portion control 
A)  to contain and protect the product 
B)  to facilitate use and convenience 
C)  to be environmentally friendly 
D)  to promote the product 
E)  to provide portion control

Question 5

Packaging milk in a sealed bag that does not require refrigeration is an example of creating new markets.

Accepted Answer

A) True 
 B)False

Question 6

Customer input and feedback have no effect on how companies shape their products.

Accepted Answer

A) True 
 B)False

Question 7

With toys,movies,amusement parks,TV shows,and more,Disney uses brand extension.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is an example of a B2B product?

Accepted Answer

A)  specialty goods 
B)  convenience services 
C)  component parts 
D)  shopping goods 
E)  unsought goods 
A)  specialty goods 
B)  convenience services 
C)  component parts 
D)  shopping goods 
E)  unsought goods

Question 9

If a label represents consistent quality and dependability,then the label can perpetuate a(n)________ brand-name image.

Accepted Answer

A)  neutral 
B)  immeasurable 
C)  positive 
D)  negative 
E)  misleading 
A)  neutral 
B)  immeasurable 
C)  positive 
D)  negative 
E)  misleading

Question 10

Describe the commercialization step of product development.

Accepted Answer

Commercialization is the decision to mar

Question 11

A package contains a snack food bag with a manufacturer's brand and a container of dip with the brand of a different manufacturer.This is an example of a(n)________ brand.

Accepted Answer

A)  generic 
B)  private 
C)  individual 
D)  co-brand 
E)  family 
A)  generic 
B)  private 
C)  individual 
D)  co-brand 
E)  family

Question 12

What is an unsought service? Provide an example.

Accepted Answer

Student answers will vary.Unsought servi

Question 13

Branding increases the risks involved in some purchases for which buyers are unable to determine quality objectively.

Accepted Answer

A) True 
 B)False

Question 14

In order for customers to acquire a total product offering,they must offer the ________.

Accepted Answer

A)  distribution or place 
B)  product 
C)  promotion 
D)  price 
E)  perception 
A)  distribution or place 
B)  product 
C)  promotion 
D)  price 
E)  perception

Question 15

Each of the following is a form of discount EXCEPT ________.

Accepted Answer

A)  packaging discounts 
B)  cash discounts 
C)  seasonal discounts 
D)  quantity discounts 
E)  allowance discounts 
A)  packaging discounts 
B)  cash discounts 
C)  seasonal discounts 
D)  quantity discounts 
E)  allowance discounts

Question 16

Product line length is the ________,

Accepted Answer

A)  length in feet of a company's assembly line 
B)  average length in inches of a company's best-selling product 
C)  number of different product lines a company offers 
D)  number of items in any given product line 
E)  combined activities of a company 
A)  length in feet of a company's assembly line 
B)  average length in inches of a company's best-selling product 
C)  number of different product lines a company offers 
D)  number of items in any given product line 
E)  combined activities of a company

Question 17

Distinguish between product line length and product mix width.

Accepted Answer

Product line length is the number of ite

Question 18

Ford offers several categories of vehicles: cars,minivans,trucks,and SUVs.All of these vehicle categories together make up Ford's product ________.

Accepted Answer

A)  length 
B)  line 
C)  depth 
D)  mix 
E)  bandwidth 
A)  length 
B)  line 
C)  depth 
D)  mix 
E)  bandwidth

Question 19

Downloading a song for 99 cents is an example of psychological pricing.

Accepted Answer

A) True 
 B)False

Question 20

Maturity is a stage in the product life cycle.

Accepted Answer

A) True 
 B)False

Exam 13: Product Development and Pricing Strategies

Charging different prices to different customers when these price differences are not a reflection of cost differences is called price ________.

Price ________ involves charging a high price for a product initially,then lowering the price over time.

A group of similar products marketed to one general market is called a product ________.

The blue Tiffany & Co.box is an example of which purpose of packaging?

Packaging milk in a sealed bag that does not require refrigeration is an example of creating new markets.

Customer input and feedback have no effect on how companies shape their products.

With toys,movies,amusement parks,TV shows,and more,Disney uses brand extension.

Which of the following is an example of a B2B product?

If a label represents consistent quality and dependability,then the label can perpetuate a(n)________ brand-name image.

Describe the commercialization step of product development.

A package contains a snack food bag with a manufacturer's brand and a container of dip with the brand of a different manufacturer.This is an example of a(n)________ brand.

What is an unsought service? Provide an example.

Branding increases the risks involved in some purchases for which buyers are unable to determine quality objectively.

In order for customers to acquire a total product offering,they must offer the ________.

Each of the following is a form of discount EXCEPT ________.

Product line length is the ________,

Distinguish between product line length and product mix width.

Ford offers several categories of vehicles: cars,minivans,trucks,and SUVs.All of these vehicle categories together make up Ford's product ________.

Downloading a song for 99 cents is an example of psychological pricing.

Maturity is a stage in the product life cycle.

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