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Exam 14: Developing and Pricing Goods and Services

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Question 61

True/False

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A penetration strategy calls for a firm to charge low prices with the intent of attracting a large number of customers and discouraging competition.

A) True
B) False

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Question 62

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A skimming pricing strategy:

A) allows low income households the ability to purchase a particular good or service.
B) drives competitors out of business in order to achieve a monopoly position in the market.
C) creates a "common man" image to reach a larger market.
D) establishes a high price in order to earn the highest possible profit while there is little competition.

E) B) and D)
F) B) and C)

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Question 63

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Industrial goods are sold in the B2B market.

The product analysis stage of the new-product development process considers the sales forecasts and cost estimates of a new-product idea.

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

Sales levels of Armstrong mountain bikes are rising rapidly,profits are very high,and a growing number of competitors are taking aim at Armstrong's market lead.Based on this information,Armstrong mountain bikes are in which stage of the product life cycle?

The use of the Folgers's ________ allows customers to easily identify this product from other coffee products.

As restaurant chains that specialize in Mexican cuisine,Fernando's and Carmelita's offer similar items on their menus.However,Fernando's restaurants are positioned in the market as elegant establishments with high prices.Carmelita's restaurants,on the other hand,are located in middle-class neighborhoods,with a casual atmosphere that welcomes families with young children.The prices at Carmelita's are in the moderate range.When evaluating the marketing strategies used by these restaurants,we can conclude that:

The Coca Cola Company produces Diet Coke,Diet Coke with Splenda,and Coke Zero along with a number of other flavors.These products are part of Coke's:

The greatest source of ideas for new products is:

A ________ has direct responsibility for all the elements of the marketing mix for one brand or product line.

The U.S.legal system does not offer trademark protection.

In the Thinking Green box in the chapter,one of the problems companies are facing is informing consumers about their commitment to environmental awareness in the labeling of their products.

__________ goods appeal to consumers who are willing to make an extra shopping effort to acquire them.

The combination of product lines offered by a manufacturer is called the firm's:

When consumers calculate the value of a product,they:

Which of the following is a potential problem with a high-low pricing strategy?

Which of the following products would be considered an unsought good or service by a typical college student?

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

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