FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 14: Developing and Pricing Goods and Services

Show Answer

Share

---

All types

Filters

Study Flashcards

Question 141

True/False

Review LaterAdd Note

Review Later

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

A) True
B) False

Correct Answer

verified

Show Answer

Question 142

Multiple Choice

Review LaterAdd Note

Review Later

As firms develop their marketing mix, it is important to remember that:

A) prices must be linked directly to the cost of production.
B) instincts and past history are the best guides in determining price.
C) regardless of the strategy used, prices ultimately reflect the forces of supply and demand.
D) firms are often restricted in creating pricing strategies by relevant government rules and guidelines.

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

Correct Answer

verified

Show Answer

Question 143

True/False

Review LaterAdd Note

As a promotional strategy, advertising is more important in the marketing of industrial goods than it is in the marketing of consumer goods.

Which of the following is a stage in the product life cycle?

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

McDonald's prides itself on offering precisely the same menu around the world so that customers know exactly what to expect when they eat at a McDonald's.

The Pillsbury Doughboy is an example of a:

The marketing efforts for convenience and specialty goods are essentially the same.

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

The greatest source of ideas for new products is:

In the long run, the cost of production and the length of the firm's supply chain determine the price of a product.

Mystic Beverages, a producer of soft drinks, wants to differentiate its products from those of other soft drink providers. To implement this strategy successfully will require Mystic to create tangible differences in the physical product it offers.

The purpose of __________ is to create real or perceived product differences.

The Procter & Gamble Company is a major producer of bar soaps. In fact, Procter & Gamble produces Ivory, Camay, Lava, Safeguard, Zest, and Coast bar soaps that all claim a variety of benefits. These products are part of Procter & Gamble's __________ in bar soaps.

Which of the following strategies establishes a price based on the actions of rival firms?

One common way of classifying consumer goods is based on consumer purchasing behavior.

Anheuser-Busch/In Bev Company, Inc., has been given the exclusive right to the name Budweiser and is legally protected from others using this name by the __________ they hold.

What is a brand? What is a brand name? What is meant by brand equity?

Despite the fact that microeconomic theory places a great deal of emphasis on price, marketers often try to find ways to compete on product attributes other than price.

The Coca-Cola Company produces Diet Coke, Diet Coke with Splenda, and Coke Zero along with a number of other flavors. These products are part of Coke's: