Question 1

Philip James asks you to calculate the breakeven point for him. You need which information from him to do so?

Accepted Answer

A)  Dollar values for all assets and owners' equity
B)  Fixed costs, operating expenses, and net income
C)  Dollar values for all assets and all liabilities
D)  Unit costs and fixed costs
E)  Variable costs per unit, fixed costs, and unit selling priceF) A) and D)
G) B) and E)

Question 2

The part of the package that contains the presentation of information on a product is called a

Accepted Answer

A)  brand.
B)  trademark.
C)  label.
D)  Universal Product Code.
E)  warranty statement.F) All of the above
G) C) and D)

Question 3

If Tiger Mart advertises a 2-liter bottle of Pepsi for 89 cents to generate store traffic that will increase the purchasing of other items at regular prices, the grocer is using

Accepted Answer

A)  reference pricing.
B)  a price leader.
C)  special-event pricing.
D)  comparison discounting.
E)  professional pricing.F) A) and C)
G) B) and C)

Question 4

Developing new products is risky, time consuming, and expensive with a high rate of failure. Nevertheless, "failing to introduce new products can be just as hazardous." What is meant by this quote?

Accepted Answer

Answers will vary. If a company and thei...

Question 5

A name, term, symbol, design, or any combination of these that identifies a product and distinguishes it from a competitor's product is called packaging.

Accepted Answer

A) True 
 B)False

Question 6

If the manager at Best Buy puts a sign up next to a Pioneer stereo that reads, "Only $199.99! $58.01 less than Circuit City," this is an example of what type of pricing strategy?

Accepted Answer

A)  Random discounting
B)  Periodic discounting
C)  Comparison discounting
D)  Penetration discounting
E)  Everyday low pricesF) A) and B)
G) A) and D)

Question 7

A new product should be left in a test market long enough to

Accepted Answer

A)  stimulate normal quarterly sales.
B)  sell every prototype produced.
C)  allow buyers a chance to repurchase the item.
D)  establish brand loyalty.
E)  reveal any major design "bugs."F) A) and D)
G) B) and E)

Question 8

Car Tunes, a national car stereo retailer, markets stereos and speakers. The company will soon sell car alarms and cellular phones to ____ its product mix.

Accepted Answer

A)  modify
B)  broaden
C)  narrow
D)  customize
E)  adaptF) A) and D)
G) None of the above

Question 9

The first stage of the product life-cycle is the ____ stage.

Accepted Answer

A)  inventive
B)  launching
C)  discovery
D)  introduction
E)  growthF) B) and D)
G) A) and B)

Question 10

If Macy's department store managers looked at Dillard's department store prices for identical national brands and, based on that information, decided to advertise a sale on those products, they would be exercising which pricing method?

Accepted Answer

A)  Competition-based
B)  Demand-based
C)  Cost-based
D)  Premium
E)  PenetrationF) A) and B)
G) A) and E)

Exam 12: Creating and Pricing Products That Satisfy Customers

The first stage of the product life-cycle is the ____ stage.

Correct Answer
verified

If Tiger Mart advertises a 2-liter bottle of Pepsi for 89 cents to generate store traffic that will increase the purchasing of other items at regular prices, the grocer is using

Correct Answer
verified

A new product should be left in a test market long enough to

Correct Answer
verified

Developing new products is risky, time consuming, and expensive with a high rate of failure. Nevertheless, "failing to introduce new products can be just as hazardous." What is meant by this quote?

Correct Answer
verified
Answers will vary. If a company and thei...
View Answer

Car Tunes, a national car stereo retailer, markets stereos and speakers. The company will soon sell car alarms and cellular phones to ____ its product mix.

Correct Answer
verified

If Macy's department store managers looked at Dillard's department store prices for identical national brands and, based on that information, decided to advertise a sale on those products, they would be exercising which pricing method?

Correct Answer
verified

If the manager at Best Buy puts a sign up next to a Pioneer stereo that reads, "Only $199.99! $58.01 less than Circuit City," this is an example of what type of pricing strategy?

Correct Answer
verified

Philip James asks you to calculate the breakeven point for him. You need which information from him to do so?

Correct Answer
verified

The part of the package that contains the presentation of information on a product is called a

Correct Answer
verified

A name, term, symbol, design, or any combination of these that identifies a product and distinguishes it from a competitor's product is called packaging.

Correct Answer
verified

Exam 12: Creating and Pricing Products That Satisfy Customers

The first stage of the product life-cycle is the ____ stage.

Correct AnswerverifiedShow Answer

If Tiger Mart advertises a 2-liter bottle of Pepsi for 89 cents to generate store traffic that will increase the purchasing of other items at regular prices, the grocer is using

Correct AnswerverifiedShow Answer

A new product should be left in a test market long enough to

Correct AnswerverifiedShow Answer

Developing new products is risky, time consuming, and expensive with a high rate of failure. Nevertheless, "failing to introduce new products can be just as hazardous." What is meant by this quote?

Correct AnswerverifiedAnswers will vary. If a company and thei...View AnswerShow Answer

Car Tunes, a national car stereo retailer, markets stereos and speakers. The company will soon sell car alarms and cellular phones to ____ its product mix.

Correct AnswerverifiedShow Answer

If Macy's department store managers looked at Dillard's department store prices for identical national brands and, based on that information, decided to advertise a sale on those products, they would be exercising which pricing method?

Correct AnswerverifiedShow Answer

If the manager at Best Buy puts a sign up next to a Pioneer stereo that reads, "Only $199.99! $58.01 less than Circuit City," this is an example of what type of pricing strategy?

Correct AnswerverifiedShow Answer

Philip James asks you to calculate the breakeven point for him. You need which information from him to do so?

Correct AnswerverifiedShow Answer

The part of the package that contains the presentation of information on a product is called a

Correct AnswerverifiedShow Answer

A name, term, symbol, design, or any combination of these that identifies a product and distinguishes it from a competitor's product is called packaging.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary. If a company and thei...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified