Question 1

Speed to market increases the chance that a new product will survive.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following assumptions is the strategy of pricing above the market based on?

Accepted Answer

A)  Higher price implies higher quality. 
B)  Higher price means higher customer support. 
C)  Higher prices mean higher customer satisfaction. 
D)  Higher price creates higher demand. 
E)  Higher price means easier distribution. 
A)  Higher price implies higher quality. 
B)  Higher price means higher customer support. 
C)  Higher prices mean higher customer satisfaction. 
D)  Higher price creates higher demand. 
E)  Higher price means easier distribution.

Question 3

In the screening stage of product development,companies use market research to get consumers' input about benefits and prices.

Accepted Answer

A) True 
 B)False

Question 4

During which step of the product development stage does a company conduct market research on benefits and prices?

Accepted Answer

A)  Screening 
B)  Concept testing 
C)  Prototype development 
D)  Benefits analysis 
E)  Product idea 
A)  Screening 
B)  Concept testing 
C)  Prototype development 
D)  Benefits analysis 
E)  Product idea

Question 5

What is the practice of selling products in a foreign market for less than in its home country?

Accepted Answer

A)  Countervailing duties 
B)  Skimming 
C)  Odd-even pricing 
D)  Dumping 
E)  Price lining 
A)  Countervailing duties 
B)  Skimming 
C)  Odd-even pricing 
D)  Dumping 
E)  Price lining

Question 6

What can a company do to offset the consequences of slow sales in a product line?

Accepted Answer

A)  Limit the use of capital items. 
B)  Diversify the product line. 
C)  Add convenience goods. 
D)  Increase the use of shopping goods available to consumers. 
E)  Reclassify specialty products as convenience products. 
A)  Limit the use of capital items. 
B)  Diversify the product line. 
C)  Add convenience goods. 
D)  Increase the use of shopping goods available to consumers. 
E)  Reclassify specialty products as convenience products.

Question 7

Shopping goods are purchased more often than convenience goods.

Accepted Answer

A) True 
 B)False

Question 8

When developing the marketing mix,what is the basis for any successful marketing strategy?

Accepted Answer

A)  Customer needs and wants 
B)  Value packaging 
C)  Product mix offerings 
D)  Features and benefits 
E)  Offering the best product for the least amount of money 
A)  Customer needs and wants 
B)  Value packaging 
C)  Product mix offerings 
D)  Features and benefits 
E)  Offering the best product for the least amount of money

Question 9

Which of the following best describes production items?

Accepted Answer

A)  Goods consumed within a year by an organization 
B)  Goods that are specific in nature and where no substitute will be accepted 
C)  Goods that are consumed rapidly and regularly 
D)  Goods used to make other products 
E)  Goods consumed within a year by the buyer 
A)  Goods consumed within a year by an organization 
B)  Goods that are specific in nature and where no substitute will be accepted 
C)  Goods that are consumed rapidly and regularly 
D)  Goods used to make other products 
E)  Goods consumed within a year by the buyer

Question 10

The marketing process to the consumer is significantly different than the marketing process for the industrial buyer.

Accepted Answer

A) True 
 B)False

Question 11

Discuss the difference between production items,expense items,and capital items.

Accepted Answer

Production items are goods or services t

Question 12

Which of the following represents the sales volume where total costs equal total revenue?

Accepted Answer

A)  Fixed costs 
B)  Pricing analysis 
C)  Skimming 
D)  Variable costs 
E)  Breakeven point 
A)  Fixed costs 
B)  Pricing analysis 
C)  Skimming 
D)  Variable costs 
E)  Breakeven point

Question 13

Product placement includes showing actors on television shows using a name-brand product.

Accepted Answer

A) True 
 B)False

Question 14

During the product life cycle,when do sales begin to climb and the product begin to show profit?

Accepted Answer

A)  Ascending 
B)  Mature 
C)  Initial 
D)  Growth 
E)  Accelerated 
A)  Ascending 
B)  Mature 
C)  Initial 
D)  Growth 
E)  Accelerated

Question 15

What happens when companies extend their horizons and identify opportunities outside existing product lines?

Accepted Answer

A)  Disconnected product lines 
B)  Multiple product lines 
C)  Uniform product lines 
D)  Universal product lines 
E)  Tailored product lines 
A)  Disconnected product lines 
B)  Multiple product lines 
C)  Uniform product lines 
D)  Universal product lines 
E)  Tailored product lines

Question 16

For many companies,speed to market with a product is as important as care in developing it.

Accepted Answer

A) True 
 B)False

Question 17

How do companies achieve continuous sales of more units and higher profits,even with lower unit prices?

Accepted Answer

A)  Market penetration 
B)  E-business 
C)  Profit-maximization strategies 
D)  Market domination 
E)  Market share 
A)  Market penetration 
B)  E-business 
C)  Profit-maximization strategies 
D)  Market domination 
E)  Market share

Question 18

How has e-business contributed to lower prices?

Accepted Answer

Doing business online can lower the cost

Question 19

What are the benefits and features associated with a product called?

Accepted Answer

A)  Product mix 
B)  Specialty package 
C)  Service mix 
D)  Convenience 
E)  Value package 
A)  Product mix 
B)  Specialty package 
C)  Service mix 
D)  Convenience 
E)  Value package

Question 20

Differentiate between fixed costs and variable costs.

Accepted Answer

Fixed costs remain constant with varying

Speed to market increases the chance that a new product will survive.

Which of the following assumptions is the strategy of pricing above the market based on?

In the screening stage of product development,companies use market research to get consumers' input about benefits and prices.

During which step of the product development stage does a company conduct market research on benefits and prices?

What is the practice of selling products in a foreign market for less than in its home country?

What can a company do to offset the consequences of slow sales in a product line?

Shopping goods are purchased more often than convenience goods.

When developing the marketing mix,what is the basis for any successful marketing strategy?

Which of the following best describes production items?

The marketing process to the consumer is significantly different than the marketing process for the industrial buyer.

Discuss the difference between production items,expense items,and capital items.

Which of the following represents the sales volume where total costs equal total revenue?

Product placement includes showing actors on television shows using a name-brand product.

During the product life cycle,when do sales begin to climb and the product begin to show profit?

What happens when companies extend their horizons and identify opportunities outside existing product lines?

For many companies,speed to market with a product is as important as care in developing it.

How do companies achieve continuous sales of more units and higher profits,even with lower unit prices?

How has e-business contributed to lower prices?

What are the benefits and features associated with a product called?

Differentiate between fixed costs and variable costs.

The US Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Distributing and Promoting Products

Information Technology Itfor Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters

Exam 12: Developing and Pricing Products

Speed to market increases the chance that a new product will survive.

Which of the following assumptions is the strategy of pricing above the market based on?

In the screening stage of product development,companies use market research to get consumers' input about benefits and prices.

During which step of the product development stage does a company conduct market research on benefits and prices?

What is the practice of selling products in a foreign market for less than in its home country?

What can a company do to offset the consequences of slow sales in a product line?

Shopping goods are purchased more often than convenience goods.

When developing the marketing mix,what is the basis for any successful marketing strategy?

Which of the following best describes production items?

The marketing process to the consumer is significantly different than the marketing process for the industrial buyer.

Discuss the difference between production items,expense items,and capital items.

Which of the following represents the sales volume where total costs equal total revenue?

Product placement includes showing actors on television shows using a name-brand product.

During the product life cycle,when do sales begin to climb and the product begin to show profit?

What happens when companies extend their horizons and identify opportunities outside existing product lines?

For many companies,speed to market with a product is as important as care in developing it.

How do companies achieve continuous sales of more units and higher profits,even with lower unit prices?

How has e-business contributed to lower prices?

What are the benefits and features associated with a product called?

Differentiate between fixed costs and variable costs.

The US Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Distributing and Promoting Products

Information Technology Itfor Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters