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Exam 14: Developing and Pricing Goods and Services

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Question 81

True/False

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

A) True
B) False

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Question 82

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Firms utilizing an everyday low pricing (EDLP)strategy establish a policy of special sales on a regular basis.

A) True
B) False

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Question 83

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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.

A traditional McDonald's and a McCafe (the outlet that sells premium coffee and pastries similar to a Starbucks)are examples of the McDonald's Corporation product mix.

Sometimes a firm will lower prices below their costs in order to build a customer base.

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

The ____________ is a theoretical model that describes the sales and profit performance of a product class over time.

While the product life cycle is a good theory,it's not important for marketers to recognize what life cycle stage a product is in.

To satisfy consumers managers must learn to listen better than they do now and to adapt constantly to changing market demands.

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

Gill's Gadgets establishes the price it charges for its products by determining the cost of production and then adding on a desired profit margin.Gill's strategy is known as target costing.

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

The evaluation of packaging as a marketing function indicates that:

Once a good or service nears the end of its product life cycle,the firm recognizes that:

According to the product life cycle model,sales are expected to peak in the _________ stage.

As a product progresses through each stage of the product life cycle,successful marketers recognize that each stage requires:

The combination of product lines offered by a manufacturer is called the firm's:

Miller Light Beer,Maxwell House Coffee,Jell-O brand gelatin,Kraft Mayonnaise,and Marlboro Cigarettes,were all at one time products of the Philip Morris Company.These products represented a part of the product line Philip Morris offered.

A pickup truck can be classified as either a consumer good or an industrial good.

Successful businesses constantly monitor consumer wants and needs.