Exam 12: Creating and Pricing Products That Satisfy Customers

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?

Nate 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 Everyone's Way,Inc.The company sells men's clothing and accessories.Everyone's 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,Nate 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previous owner was not aware of the product life-cycle because the company kept items that were obviously too old and out-of-date.Also,because of the high turnover,employees did not have good knowledge of the different product lines and did not know the difference between a product line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,Nate 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following two measures: first,developing a new product to incorporate into the product mix;and second,eliminating the out-of-date products.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 Everyone's Way,Inc.If Nate wanted to develop a new product,he would begin with

For a product such as staples,which of the following determines whether it is a consumer product or a business product?

If Lion Mart advertises a 2-liter bottle of Pepsi for 89 cents to generate store traffic that will increase the purchasing of other items at regular prices,the grocer is using

General Mills has been able to extend the life of Bisquick baking mix by

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

The number of units that must be sold for the total revenue to equal the total cost is called the ____ quantity.

At what stage in the product life-cycle would sales volume tend to decrease sharply? Why?

During a department-head meeting at XYZ Corporation,the executives and department-heads were discussing all of the products the firm has to offer for sale.What were they referring to?

Discounts from the list price offered to intermediaries are called ____ discounts.

Which of the following is considered a trade name?

If company B references company C in determining what price to sell its own product at,it exercises which pricing objective?

Products that are designed to be similar to and compete with existing products of other firms are called

A symbol or word that is registered with the U.S.Patent and Trademark Office and is thus legally protected from use by anyone but its owner is a

A variation of an existing product,such as freeze-dried coffee,is an example of product imitation.

Would Coca-Cola be a generic brand? Why or why not? How would you expect the package and label of a generic product to look?

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

Price differentiation attempts to sell

To promote an overall company image,Borden dairy products are packaged in similar designs and colors.This approach is known as

A product usually declines because of technological advances or environmental factors or because