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Costs incurred regardless of the number of units of a product that are produced or sold are called


A) mixed costs.
B) controllable costs.
C) fixed costs.
D) variable costs.

E) None of the above
F) B) and C)

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The New Era Cap Company understands the importance of ________. In the mid-1990s, the company's products became very popular when film director Spike Lee requested a red Yankees cap, instead of the traditional blue cap. It did not take long for Yankees' fans who were also fans of Spike Lee to want to wear a similar cap.


A) brand equity
B) viral marketing
C) brand association
D) marketing parity

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

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The four-stage theoretical model that describes the evolution of a product from birth to death is referred to as the


A) growth-share matrix.
B) developmental life span analysis.
C) product life cycle.
D) product market progression index.

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

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Accessory equipment consists of capital items that cost less and are shorter lived than installation items.

A) True
B) False

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Nicola works as a manager at Marshall Manufacturing. The innovative staff at the company is regularly encouraged to suggest ideas for new products. Since Nicola works in product screening, she


A) gives the final approval for the commercialization of new products.
B) reduces the number of new products being worked on at any one time.
C) market tests the product ideas that originate with the staff.
D) develops the concept testing to establish the personnel required for each new project.

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

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One way firms can gain a competitive advantage without relying on low prices is by developing close, friendly relationships with their customers.

A) True
B) False

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True

Rather than having frequent special sales, a company maintains lower prices than competitors all the time. This pricing strategy is known as everyday low prices (EDLP).

A) True
B) False

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The brand names that are used by producers that distribute products nationally are called


A) manufacturers' brands.
B) product category brands.
C) generic brand names.
D) universal brand names.

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

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A

Discuss the role of packaging in a firm's total product offer.

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Packaging performs several important fun...

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Newspapers are sold daily in a wide variety of locations. This widespread distribution suggests that newspapers are classified as convenience goods.

A) True
B) False

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A ________ is a name, symbol, or design (or combination of these) that identifies the goods or services of one seller or group of sellers and distinguishes them from those of competitors.


A) trademark
B) brand
C) logo
D) copyright

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

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While the UPC improves efficiency at the retail checkout counter, it has increased problems in controlling inventory.

A) True
B) False

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Fast food restaurants, like Carl's Jr., pride themselves on offering precisely the same menu around the world so that customers know exactly what to expect when they eat at one of those restaurants.

A) True
B) False

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The pricing objectives of a firm should be set independently of the other elements of their marketing mix.

A) True
B) False

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Brand ________ refers to the loyalty, perceived quality, and emotions people associate with a given brand name.


A) equity
B) identification
C) positioning
D) ownership

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

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Products that carry the name of a distributor or a retailer instead of the manufacturer's name are called


A) dealer (private) brands.
B) knockoff brands.
C) generic brands.
D) equity brands.

E) None of the above
F) A) and B)

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As a manager at IceCold Foods, Oscar is responsible for the firm's S'Cream brand of ice cream. He recently approved a proposal to test market new ice cream flavors. He is also considering the possibility of lowering the price of the ice cream and initiating a new advertising campaign. Oscar serves as a


A) product development manager.
B) target market manager.
C) brand manager.
D) commercialization manager.

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

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Brand ________ refers to the linking of a brand to other favorable images, such as a celebrity.


A) association
B) loyalty
C) awareness
D) insistence

E) A) and D)
F) A) and B)

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Suitorium is a men's clothing store in a large suburban shopping mall. The managers of the store know that their customers usually comparison shop, looking carefully at quality and price before deciding to buy. With this information, Suitorium carries quality clothing, offers competitive pricing, and friendly, helpful service. The target customers apparently view men's suits as a


A) specialty good.
B) convenience good.
C) shopping good.
D) unsought good.

E) B) and C)
F) All of the above

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C

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

A) True
B) False

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