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Exam 12: Creating and Pricing Products That Satisfy Customers

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Question 61

Multiple Choice

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If a customer has moderate loyalty toward Heinz ketchup,she likely will

A) buy the product in greater quantities.
B) shop around for the best price for that good.
C) perceive the product as having the same quality level as competitive brands.
D) never buy another brand of ketchup.
E) purchase other products that carry the Heinz name.

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Question 62

Multiple Choice

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Which of the following is considered a generic term?

A) Kleenex
B) Q-tips
C) Saran Wrap
D) Thermos
E) Jell-O

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Question 63

Multiple Choice

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Price leaders

The strategy of developing a large market share for a new product by setting a very low price is called penetration pricing.

Sheet steel to be used in making automobile fenders is an example of

Yen has a new product idea that aligns well with her company's current organizational resources.She puts together a presentation for potential buyers and requests feedback on their reactions and suggestions.Yen is

Energizer batteries are sold in multipacks to make it more convenient for the consumer,who usually needs more than one battery at a time.Energizer batteries would be classified as a ____ product.

The Arizona Jean Co.brand of jeans,owned by JCPenney,is a(n) ____ brand.

Costs that depend on the number of units produced are called variable costs.

The stage in the evolution of a new product in which a pool of ideas is created is called

The product life-cycle stage in which consumer awareness and acceptance of the product are low,there are few competitors,and there is a gradual rise in sales because of promotion is called

Would a new car equipped with a bumper jack,jack handle,spare tire,and warranty be the same product as the same car without these features? Explain.

There are seven stages in the evolution of a new product.The stage in which an idea is determined to be technically feasible is

Manufacturers,wholesalers,and retailers do not use negotiated pricing strategies.

The fact that senior citizens are charged a lower price at movie theaters than are younger adults is an example of ____ pricing.

The temporary reduction of prices on a patterned or systematic basis is called

Price competition occurs when a seller emphasizes the

The strategy of charging the highest possible price for a product during the introduction stage of its life-cycle is called price skimming.

Appliances,men's suits,and ____ are examples of shopping products.

Carlos always chooses Colgate toothpaste at his local drug store.However,when the store occasionally runs out of Colgate,he will purchase Crest or Mentadent.What level of brand loyalty does Carlos have to Colgate?