Exam 12: Creating and Pricing Products That Satisfy Customers

United Airlines prices its tickets so that it is less expensive to travel between midnight and 5:00 a.m.than during the day,when there is heavy business travel.This illustrates ____ pricing.

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

The sum of the fixed costs and the variable costs attributed to the units produced is the selling price.

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

A trademark is registered with the

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

​Lang Industries is introducing a new product and will use price skimming to set the price.Price skimming is

Amy is starting a new business and is confused about how to determine the price to set for her product.She comes to you for advice and you tell her,correctly,that the two factors that determine the price at which a product will sell are

One of the major dangers of competition-based pricing is that it often results in price wars.

Management must set pricing objectives based on the primary objective of making a profit.

Costs that are incurred no matter how many units of a product are produced or sold are called

The Morton's Salt Girl,the Pillsbury Dough Boy,and Planters' Mr.Peanut are all examples of

Entirely new products are called

A brand is all of the following except a(n)

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

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

Describe non-price competition.When might it be used?

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

Slick It,Inc. ​Render is a salesperson for Slick It,Inc.Slick It does not sell products with its own brand name.Instead,its products are created for different retail stores and carry the store brand.Render thought that several changes needed to be made to a particular product,but Slick It management reminded him that the stores,not Slick It,owned the brand. ​However,because Slick It had been concerned about dropping sales,management listened to Render'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 Slick It to set a single price for multiple units.This had the potential of increasing sales and therefore profits,so management agreed to consider Render's suggestion. -Refer to Slick It,Inc.Because Slick It sells its products under different brand names,each product is a

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