Exam 14: Developing and Marketing Products

Scenario: Scooters Inc. Scooters Inc. is a producer of pricey scooters. The company's profits come mostly from the sales of its luxury line that caters to the esteem needs of the rich population. Ben Driven, vice president of marketing for Scooters Inc., has been asked to review the company's pricing strategy. -Ben knows that a pricing policy in which one selling price is established for all international markets is called ________.

The term ________ refers to a company's efforts to reach distribution channels and target customers through communications such as personal selling,advertising,public relations,and direct marketing.

A pricing policy in which a product has a different selling price in export markets than it has in the home market is called ________.

Scenario: Scooters Inc. Scooters Inc. is a producer of pricey scooters. The company's profits come mostly from the sales of its luxury line that caters to the esteem needs of the rich population. Ben Driven, vice president of marketing for Scooters Inc., has been asked to review the company's pricing strategy. -Scooters Inc.has traditionally sold its products at one price in the domestic market and at another price in export markets,which is called a(n)________ pricing strategy.

When the receiver re-translates the sent message he/she is engaging in ________.

Scenario: Silk Industries LLC Silk Industries LLC comprises two major divisions: consumer products and industrial products. The consumer product line of the company is well-recognized and consists of loyal customers worldwide. The management is considering different types of promotional strategies for the two product divisions. -If Silk Industries is interested in creating buyer demand that will encourage channel members to stock its products,it should employ ________.

Firms that standardize their advertising usually control campaigns from the home office.

Scenario: Silk Industries LLC Silk Industries LLC comprises two major divisions: consumer products and industrial products. The consumer product line of the company is well-recognized and consists of loyal customers worldwide. The management is considering different types of promotional strategies for the two product divisions. -Which promotional strategy would be most appropriate for Silk Industries consumer product line?

________ are imitation products passed off as legitimate trademarks,patents,or copyrighted works.

Which of the following occurs when the price of a good is lower in export markets than it is in the domestic market?

The marketing communication process involves encoding and decoding of the promotional message.

When a product has a higher selling price in the target market than it does in the home market or the country where production takes place,it is called ________.

How can a lack of market understanding,theft,and corruption affect distribution?

A distribution channel in which a producer grants the right to sell its product to many resellers is referred to as a(n)________.

Which of the following products has a low value-density ratio?

All company and product brand names are made up of morphemes.

The physical path a product follows on its way to customers is called a channel of distribution.

The physical path a product follows on its way to customers is called a(n)________.

A ________ strategy is best suited for the promotion of industrial products because potential buyers usually need to be informed about a product's special features before purchase.

Counterfeiting is common among highly visible brand-name consumer goods.