Exam 12: Creating and Pricing Products That Satisfy Customers

Consumers would most likely treat personal computers as ____ products.

A brand that is owned by a producer is called a

During the decline stage of the product life-cycle,the sales volume decreases sharply because of an increase in the number of competing firms.

A good or service intended primarily for use in producing other goods or services is a ____ product.

Frank's Fabrics has a large inventory of fabric for home crafters and seamstresses but carries very few craft supplies and is finding it difficult to compete with the large chain fabric stores as a result.In order to bring more customers into the store,Frank lowers the price of fabric below his cost for a month,hoping that once customers come to his store,they will return.This is called ___ pricing.

GE,Kellogg's,Mercedes,and Dell are all examples of

Psychological pricing strategies encourage purchases to be based on economically rational responses rather than on emotional responses.

Jersey's Smoothie Bar has decided to set its pricing structure based on an annual percentage of the amount earned as a result of financial investment as a quantifiable means to gauge the success of their pricing.This pricing structure is known as

Differential pricing means different buyers pay different prices for the same quality and quantity of a product.

​A major big box store allegedly adds 5 percent to the total cost of production or cost of purchasing items it sells in its store,then adds to this number the additional costs and profits in order to arrive at the product's selling price.The 5 percent represents the ___ amount.

Iron ore in a steel plant is an example of

Innovations are much less common than imitations and adaptations.

A discount from the list,or retail,price offered to intermediaries is a(n)____ discount.

Which of the following is a manufacturer brand?

New products are often immediate successes.

A brand mark is the part of a brand that consists of a symbol or distinctive design.

Borden,Inc.offers pasta,snacks,grocery,and dairy items as well as films,adhesives,and other nonfood products.These products are referred to as Borden's

The legality of uniform geographic pricing has been challenged and so its use has been abandoned.

Brand equity refers to making all of a company's brands approximately equal with respect to brand loyalty.

Martin is experimenting with boosting the sales of the goods in his store by using odd-even pricing,multiple-unit pricing,and reference pricing.These are all examples of ___ pricing strategies.