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Exam 11: Creating Products and Pricing Strategies to Meet Customers Needs

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Question 1

True/False

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Chewing gum, flashlight batteries, sewing needles, and adhesive tape are considered convenience products.

A) True
B) False

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Question 2

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The blend of the marketer's tools is called the five Ps.Which of the following is NOT one of the five Ps?

A) product strategy
B) pricing strategy
C) place strategy
D) possession strategy
E) promotion strategy

F) B) and D)
G) A) and E)

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Question 3

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During the _____ stage of the product life cycle, competition is light, production and marketing costs are high, and profits are either small or negative.

What is the primary focus of not-for-profit marketers?

Which of the following products would be correctly described as being in the decline stage of their product life cycle?

When Gene O'Hare went online to plan his vacation to Australia, he learned that he could buy plane tickets, rent a car, and pay for a hotel in a reduced-price tourist package, which made it very convenient for him to book his trip.The Web site O'Hare visited used _____ to make trip planning easier and more economical.

The two new-product pricing strategies most often used by marketers are:

Transmissions purchased by the Snapper Inc.to build riding lawn mowers are called component parts.

The process that products go through as they pass through their introduction, growth, maturity, and decline stages is called the:

Which of the following is a step in the new-product development process?

Which of the following is NOT an example of a convenience product?

There are no significant differences between the consumer market and the business-to-business market.

Which of the following is an example of a social factor that influences the consumer decision-making process?

American Handgunner, Shooting Industry and Guns Magazine are all periodicals aimed at people who enjoy hunting and target shooting and want to improve their skills and stay current in the latest technology.These magazines use _____ segmentation.

A firm with a _____ has its ability to provide a unique product or service that offers something of value to buyers besides simply a lower price.

In new-product development, _____ is the stage at which products that do not meet new-product goals are rejected.

Which of the following is an expense item for an independent bookstore?

Demography is the study of:

The Accent Modification Center helps upwardly mobile international professionals smooth accents that may be holding them back from getting that next promotion.The business's target market is from the growing Asian population in Virginia.The center has developed a(n) :

_____ is the ratio of benefits to the sacrifice necessary to obtain those benefits.