Question 1

Successful businesses develop a mix of price,product,place,and promotion that is consistently applied throughout a product's life cycle.

Accepted Answer

A) True 
 B)False

Question 2

Consumers are best served by providing specialty goods in convenient locations.

Accepted Answer

A) True 
 B)False

Question 3

Convenience goods are products that the consumer wants to purchase frequently and with a minimum of effort.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is a relevant criterion for the product screening process?

Accepted Answer

A)  sales forecasts for the product
B)  production capacity of competitors
C)  profit potential
D)  the stage of the product life cycle

Question 5

Successful businesses constantly monitor consumer wants and needs.

Accepted Answer

A) True 
 B)False

Question 6

When consumer loyalty reaches the point of brand insistence,the product becomes a specialty good.

Accepted Answer

A) True 
 B)False

Question 7

New-product commercialization includes promoting the product to distributors and retailers as well as developing strong advertising and sales campaigns.

Accepted Answer

A) True 
 B)False

Question 8

Unsought goods and services are products consumers do not actively seek out for purchase on a regular basis.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following statements is the most accurate assessment of the role packaging plays in product offerings?

Accepted Answer

A)  The importance of packaging has diminished as the use of the Internet has grown.
B)  While packaging plays an important role in marketing goods,it is not relevant to the marketing of services.
C)  Effective packaging eliminates the potential of product liability suits.
D)  The importance of packaging is greater now than ever.

Question 10

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.

Accepted Answer

A) True 
 B)False

Question 11

Target costing is a cost-based pricing strategy.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market?

Accepted Answer

A)  product matrix
B)  product line
C)  product mix
D)  total product offer

Exam 14: Developing and Pricing Goods and Services

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.

Correct Answer
verified

Consumers are best served by providing specialty goods in convenient locations.

Correct Answer
verified

When consumer loyalty reaches the point of brand insistence,the product becomes a specialty good.

Correct Answer
verified

Convenience goods are products that the consumer wants to purchase frequently and with a minimum of effort.

Correct Answer
verified

Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market?

Correct Answer
verified

Which of the following statements is the most accurate assessment of the role packaging plays in product offerings?

Correct Answer
verified

Which of the following is a relevant criterion for the product screening process?

Correct Answer
verified

Unsought goods and services are products consumers do not actively seek out for purchase on a regular basis.

Correct Answer
verified

Successful businesses constantly monitor consumer wants and needs.

Correct Answer
verified

Successful businesses develop a mix of price,product,place,and promotion that is consistently applied throughout a product's life cycle.

Correct Answer
verified

Target costing is a cost-based pricing strategy.

Correct Answer
verified

New-product commercialization includes promoting the product to distributors and retailers as well as developing strong advertising and sales campaigns.

Correct Answer
verified

Exam 14: Developing and Pricing Goods and Services

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.

Correct AnswerverifiedShow Answer

Consumers are best served by providing specialty goods in convenient locations.

Correct AnswerverifiedShow Answer

When consumer loyalty reaches the point of brand insistence,the product becomes a specialty good.

Correct AnswerverifiedShow Answer

Convenience goods are products that the consumer wants to purchase frequently and with a minimum of effort.

Correct AnswerverifiedShow Answer

Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market?

Correct AnswerverifiedShow Answer

Which of the following statements is the most accurate assessment of the role packaging plays in product offerings?

Correct AnswerverifiedShow Answer

Which of the following is a relevant criterion for the product screening process?

Correct AnswerverifiedShow Answer

Unsought goods and services are products consumers do not actively seek out for purchase on a regular basis.

Correct AnswerverifiedShow Answer

Successful businesses constantly monitor consumer wants and needs.

Correct AnswerverifiedShow Answer

Successful businesses develop a mix of price,product,place,and promotion that is consistently applied throughout a product's life cycle.

Correct AnswerverifiedShow Answer

Target costing is a cost-based pricing strategy.

Correct AnswerverifiedShow Answer

New-product commercialization includes promoting the product to distributors and retailers as well as developing strong advertising and sales campaigns.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified