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  81) Freight-absorption pricing is used for market skimming and holding on to monopolistic markets. 82) The price that a company should charge in a specific country depends on the nature of the wholesaling and retailing system in that country. 83) The Robinson-Patman Act seeks to prevent unfair price discrimination by ensuring that.
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  31) GreatWords is a book retailer. Due to the increasing demand for audiobooks, the firm decides to sell audiobooks in its stores. GreatWords signs a deal with Carpem, a leading producer of educational audiobooks. According to the deal, GreatWords will sell only Carpem's audio titles in its stores, while Carpem.
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  1) The new product development process usually starts with ________. A) idea screening B) idea generation C) concept development D) concept testing E) market strategy development 2) Which of the following statements is most likely true about the new product development process? A) The first step in developing a new product involves determining any budgetary or distribution.
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  81) Service variability means that the quality of services does not depend on who provides them. 82) Orienting and motivating customer-contact employees to work as a team to provide customer satisfaction is known as social marketing. 83) When consumers react more favorably to a brand than to a generic or unbranded version.
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  41) A product life cycle has five distinct stages: product development, introduction, growth, maturity, and ________. A) stabilization B) rebranding C) decline D) progression E) segmentation 42) Which of the following is true of the product life cycle (PLC)? A) All products generally go through all five stages of the PLC. B) All products pass through the stages.
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  21) In a sequential new product development process, once a product or service passes the business test, it moves into ________. A) concept development B) product development C) test marketing D) strategy development E) commercialization 22) In the ________ stage of new product development, products undergo rigorous tests to make sure that they perform safely and.
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  98) Explain how companies that market their products internationally decide what prices to charge in different countries. 99) Identify a few situations in which price cuts or price increases might be necessary. 100) What is the difference between price-fixing and predatory pricing? How do governments discourage firms from engaging in such practices?     .
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  11) A refrigerator is an example of a(n) ________ product. A) convenience B) shopping C) unsought D) specialty E) capital 12) Which of the following is most likely a true statement about shopping products? A) Shopping products tend to be less expensive than convenience products. B) The existence of such products is generally unknown to consumers. C) Shopping products.
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  31) A product line is most likely too short if managers can ________. A) increase profits by dropping items B) decrease costs by adding items C) increase market share by dropping items D) decrease costs by dropping items E) increase profits by adding items 32) A product line is most likely too long if managers can.
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  61) A small percentage improvement in price can generate a large percentage increase in profitability. 62) Everyday low pricing is a cost-based pricing strategy. 63) Cost-based pricing relies on consumers' perceptions of value to drive pricing. 64) The simplest pricing method is break-even pricing, which involves adding a standard markup to the cost.
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  51) Which of the following is true of the growth stage of the product life cycle? A) New competitors avoid the market. B) Prices tend to increase significantly. C) Early adopters stop buying the product. D) Profits are nonexistent at this stage. E) Sales start climbing quickly. 52) Craft Inc.'s Krayons is a multi-color chalk material.
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  51) Xenon, a leading consumer-electronics manufacturing company, markets its products under the company's own brand name. In this case, Xenon has sponsored its products by promoting them as ________ brands. A) licensed B) private C) store D) national E) distributor 52) Store brands are also known as ________ brands. A) national B) manufacturer's C) private D) extended E) licensed 53) Which of.
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  21) Which of the following is an industrial product categorized under supplies and services? A) coal B) wheat C) lumber D) elevator E) generator 22) Iron ore is an example of an industrial product that is categorized under ________. A) capital items B) augmented products C) supplies and services D) materials and parts E) shopping products 23) Which category of industrial products.
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  51) A ________ is highly automated and designed to receive goods from various plants and suppliers, take orders, fill them efficiently, and deliver goods to customers as quickly as possible. A) distribution center B) storage warehouse C) cold storage unit D) controlled-atmosphere unit E) storage silo 52) Which of the following is a difference between storage.
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  41) Vac "N" Sew, a consumer electronics outlet, offers a price reduction of $100 when customers bring in a used vacuum cleaner and exchange it for a new vacuum cleaner or sewing machine. This is an example of a ________. A) functional discount B) cash discount C) seasonal discount D) trade-in allowance E) by-product allowance 42).
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  90) Distinguish between a product idea, a product concept, and a product image. 91) Explain what happens during the concept testing stage of new product development. 92) Explain what happens during the business analysis stage of new product development. 93) What is test marketing? What role does it play in new product development?.
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  31) Which of the following conditions is most likely essential for implementing a successful market-penetration pricing strategy for a product? A) The product's quality supports its high price. B) Alternative products can enter the market easily. C) The market for the product is highly price sensitive. D) Prices increase incrementally as sales volume increases. E).
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  97) Differentiate between styles, fashions, and fads. Illustrate your response with examples of each. 98) Briefly describe the maturity stage of the product life cycle. 99) What options are available to a firm that has a product in the decline stage of the product life cycle? Briefly discuss each option. 100) Discuss public.
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  71) If demand hardly changes with a small change in price, the demand is said to be elastic. 72) If demand is elastic rather than inelastic, sellers typically consider increasing their prices. 73) Pricing strategies usually remain the same as a product passes through its life cycle. 74) Market skimming makes sense when.
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  61) Introducing intermediaries into a distribution chain increases the number of direct channel transactions between a manufacturer and its customers. 62) From a producer's point of view, a greater number of levels in a supply chain means less control and greater channel complexity. 63) A channel level is a layer of intermediaries.
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  51) Which of the following pricing strategies charges the same price plus freight to all customers, regardless of their location? A) basing-point pricing B) freight-absorption pricing C) FOB-origin pricing D) zone pricing E) uniform-delivered pricing 52) Which of the following pricing strategies is the opposite of FOB-origin pricing? A) basing-point pricing B) dynamic pricing C) uniform-delivered pricing D) freight-absorption pricing E).
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  41) Which of the following is most likely a true statement about services? A) Services can be stored for later sale or use. B) Service quality is not dependent on the provider. C) Services can be easily separated from their providers. D) A service is intangible before it is purchased. E) Demand fluctuation has little.
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  41) Which of the following is an advantage of exclusive dealing between a seller and a dealer? A) The seller gains more shelf power compared to competitors' products. B) The seller can avoid using any intermediary and sell the product directly to customers. C) Customers get more loyal and dependable outlets. D) The dealer.
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  21) In ________, the market consists of many buyers and sellers trading in a uniform commodity, such as wheat, copper, or financial securities. A) pure competition B) monopolistic competition C) oligopolistic competition D) a pure monopoly E) a pure monopsony 22) There are more than 20 stores on a street in Sao Paulo that specialize in.
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  1) ________ refers to the amount of money charged for a product or service. A) Payroll B) Profit C) Price D) Cost E) Salary 2) ________ is the only element in the marketing mix that produces revenue. A) Price B) Place C) Promotion D) Product E) Profit 3) Which of the following sets the upper limit for a product's pricing? A) profits B) product.
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  61) In the context of new product development, new products include original products that a firm develops through its R&D efforts. 62) Acquisition is one of the ways through which a company obtains new products. 63) Customers of a brand are internal sources of new product ideas for the brand. 64) Since suppliers.
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  31) A company launching a new product must first decide ________. A) where to launch the product B) the sample size of the market C) when to launch the product D) the viability of a global launch E) the budget for print advertising 32) Under a ________ new product development approach, company departments work closely together.
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  11) Rent, electricity, and executive salaries that do not vary with production level are referred to as ________ costs. A) fixed B) variable C) break-even D) target E) promotional 12) ________ costs are also known as overhead. A) Fixed B) Variable C) Target D) Capital E) Payroll 13) Costs that change directly with the level of production are referred to as ________.
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  71) Consumers are generally willing to make a special purchase effort to buy specialty products. 72) Unsought products are consumer products that the consumer either does not know about or knows about but does not normally consider buying. 73) Most major new innovations are unsought until consumers become aware of them through.
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  71) The business analysis stage is the final step in the new product development process. 72) Product development usually costs the least among all the steps of the new product development process. 73) CisTech is test marketing its new computers by measuring consumer responses to the new computers and its marketing tactics.
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  11) A product concept is ________. A) the most promising product idea that develops at the brainstorming stage B) a detailed version of a product idea stated in meaningful consumer terms C) the way consumers perceive an actual or potential product D) a detailed strategy to promote the launch of a new product E) a.
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