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Exam 14: Developing and Pricing Goods and Services

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Question 81

Multiple Choice

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An advertisement for the Xerox Corporation encourages customers to say,"Copy it" rather than "Xerox it".This indicates that Xerox is fearful that its brand name might become an) :

A) equity name.
B) generic name.
C) private brand.
D) public domain good.

E) B) and C)
F) B) and D)

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Question 82

Multiple Choice

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Product screening is designed to:

A) shorten the product life cycle.
B) reduce the number of new-product ideas being worked on at any one time.
C) reduce the time involved in new-product development.
D) move production to low wage countries.

E) A) and B)
F) A) and C)

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Question 83

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Psychological pricing utilizes high prices to create the image of a high quality product.

Car dealers realize that consumers focus exclusively on price and warranty.

Which of the following statements regarding convenience goods and services is accurate?

The U.S.legal system does not offer trademark protection.

Miranda is a marketing manager for a large manufacturer.Her boss has asked her to evaluate a new product ide A.One of the things Miranda wants to determine is how much of this product her firm would have to sell in order to break even.In order to compute this break-even level of sales,she will need to know the price of the good,the total fixed costs,and variable cost of producing each unit.

Which of the following is considered a stage of the new-product development process?

In order for product differentiation to be effective,real product differences must be identified so that one product is clearly better than others.

One function of effective packaging is to protect the goods inside during handling and storage,as well as deter product tampering and theft.

What does a break-even point of 100 units mean to a firm?

One function of effective packaging is to provide information regarding warranties,benefits,and uses of the good inside the package.

The evaluation of packaging as a marketing function indicates that:

The number of units of a product that must be sold for total revenue to equal total costs is called the:

Some goods can be classified as either consumer goods or as industrial goods.

Helen is considering adding a rack of greeting cards to her product offerings at Litton Books Unlimited.Her fixed costs associated with adding the greeting cards would be $300.Variable costs per card are $1 each.The greeting cards will sell for $2 each.Helen's break-even point would occur at ________ cards sold.

Equipment maintenance and repair of equipment used by businesses is an industrial support good.

Dewy,Cheatem,and Howe's promotional efforts are intended to increase the public's awareness of its new product's benefits and uses.This effort is consistent with the ________ stage of the product life cycle model.

In the long run the market determines what the price will be.

Comet Computer Company is creating a new splash with psychedelic laptop cover designs scheduled for release next year.The computers do not reveal any other feature differences from what Comet currently offers.This effort is an example of using __________________ to differentiate a product as new.