Question 1

Low prices can often help retailers create an attractive total product offer.

Accepted Answer

A) True 
 B)False

Question 2

Phil asks you to calculate the break-even point for his firm.You respond that you will need the following information:

Accepted Answer

A)  the values for all assets and liabilities.
B)  total fixed costs,selling price per unit,and variable costs per unit.
C)  forecasted sales volume,operating expenses,and asset values.
D)  sales revenue and total liabilities.E) B) and C)
F) C) and D)

Question 3

Unsought goods and services are purchased on impulse and provide no added value to consumers.

Accepted Answer

A) True 
 B)False

Question 4

The image created by advertising is part of the total product offer of a product.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

The characteristics of specialty goods restrict their effective sale over the Internet.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A)  mixed costs.
B)  controllable costs.
C)  fixed costs.
D)  variable costs.E) A) and D)
F) A) and C)

Question 8

The concepts of product lines and product mixes apply to marketers of products and services.

Accepted Answer

A) True 
 B)False

Question 9

Marketers use pricing,advertising,and packaging to differentiate their products from competitors' products even when actual differences are quite small.

Accepted Answer

A) True 
 B)False

Question 10

The Spotlight on Small Business box titled "Don't Come to Me,I'll Come to You" refers to:

Accepted Answer

A)  The emergence of the home healthcare industry making more house calls.
B)  The increase in small businesses that compete with large companies for the same market.
C)  New trends in mobile food carts,and the use of social media to let customers know their locations at various times.
D)  The increase in all sorts of home parties,where patrons buy expensive clothes and novelty items.E) All of the above
F) B) and D)

Question 11

Pricing is:

Accepted Answer

A)  one of the 4 Ps of the marketing mix.
B)  considered to be a part of promotion.
C)  normally a government regulated variable.
D)  totally based on the cost of products.E) A) and B)
F) All of the above

Question 12

One function of effective packaging is to attract the attention of consumers.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A)  a different marketing strategy.
B)  a consistent application of fundamental marketing practices.
C)  an increase in the amount spent on advertising.
D)  more emphasis on personal selling.E) A) and B)
F) B) and C)

Question 14

The critical component of a total product offer is always a low price.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following products would normally be classified as a shopping good or service?

Accepted Answer

A)  laptop computers
B)  newspapers
C)  fur coats
D)  chewing gumE) A) and B)
F) A) and C)

Question 16

Packaging is an important part of the total product offer.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is expected during the maturity stage of a product life cycle?

Accepted Answer

A)  a rapid increase in profits
B)  a rapid increase in the number of competitors
C)  peak sales
D)  reduced emphasis on promoting the product's brand nameE) C) and D)
F) A) and B)

Question 18

The exclusive goal companies expect of packaging is to protect the product from damage in transit.

Accepted Answer

A) True 
 B)False

Question 19

Dealer private)brands are products that do not carry the manufacturer's name,but rather carry the name of a distributor or retailer.

Accepted Answer

A) True 
 B)False

Question 20

At Isuzu's Appliance Store,all new products are offered with an extended service contract,as well as free delivery and installation.By offering these value enhancers,Isuzu's has added to their total product offer.

Accepted Answer

A) True 
 B)False

Exam 14: Developing and Pricing Goods and Services

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

Correct AnswerverifiedShow Answer

Unsought goods and services are purchased on impulse and provide no added value to consumers.

Correct AnswerverifiedShow Answer

Which of the following products would normally be classified as a shopping good or service?

Correct AnswerverifiedShow Answer

Packaging is an important part of the total product offer.

Correct AnswerverifiedShow Answer

Pricing is:

Correct AnswerverifiedShow Answer

The exclusive goal companies expect of packaging is to protect the product from damage in transit.

Correct AnswerverifiedShow Answer

At Isuzu's Appliance Store,all new products are offered with an extended service contract,as well as free delivery and installation.By offering these value enhancers,Isuzu's has added to their total product offer.

Correct AnswerverifiedShow Answer

One function of effective packaging is to attract the attention of consumers.

Correct AnswerverifiedShow Answer

The concepts of product lines and product mixes apply to marketers of products and services.

Correct AnswerverifiedShow Answer

Low prices can often help retailers create an attractive total product offer.

Correct AnswerverifiedShow Answer

Which of the following is expected during the maturity stage of a product life cycle?

Correct AnswerverifiedShow Answer

The critical component of a total product offer is always a low price.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Dealer private)brands are products that do not carry the manufacturer's name,but rather carry the name of a distributor or retailer.

Correct AnswerverifiedShow Answer

Marketers use pricing,advertising,and packaging to differentiate their products from competitors' products even when actual differences are quite small.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The image created by advertising is part of the total product offer of a product.

Correct AnswerverifiedShow Answer

The Spotlight on Small Business box titled "Don't Come to Me,I'll Come to You" refers to:

Correct AnswerverifiedShow Answer

Phil asks you to calculate the break-even point for his firm.You respond that you will need the following information:

Correct AnswerverifiedShow Answer

The characteristics of specialty goods restrict their effective sale over the Internet.

Correct AnswerverifiedShow Answer

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