Question 1

For a manufacturer of one-of-kind evening gowns, the lace, satin, and buttons are considered which of the following costs?

Accepted Answer

A)   business
B)   tangible
C)   fixed
D)   variableE) All of the above
F) A) and B)

Question 2

In which of the following stages of the product life cycle do most competitors enter the market?

Accepted Answer

A)   introduction
B)   maturity
C)   launch
D)   growthE) A) and C)
F) None of the above

Question 3

Water transportation is particularly useful for bulky or heavy loads and is one of the least costly forms of transport.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following are the two main new-product pricing strategies?

Accepted Answer

A)   targeted return pricing and profit maximization pricing
B)   value pricing and cost-plus pricing
C)   price skimming and penetration pricing
D)   psychological pricing and physiological pricingE) None of the above
F) B) and C)

Question 5

Which of the following is the point at which the cost of making a product equals the revenues gained from selling the product?

Accepted Answer

A)   equilibrium point
B)   fulcrum point
C)   breakeven point
D)   equity pointE) B) and C)
F) A) and D)

Question 6

What is a brand that is so dominant that consumers think of it immediately when a product category is mentioned?

Accepted Answer

A)   master brand
B)   dominant brand
C)   leading brand
D)   preeminent brandE) None of the above
F) A) and B)

Question 7

Which of the following is a capital product for a multinational organization?

Accepted Answer

A)   corporate jet
B)   fax machine paper
C)   mobile phone
D)   file folderE) None of the above
F) A) and D)

Question 8

All a manufacturer needs to know to calculate the breakeven point is the fixed and variable costs.

Accepted Answer

A) True 
 B)False

Question 9

The process of packing 24 rolls of double-ply toilet tissue in super-sized packages such as those sold at Superstore and Costco is an example of which of the following functions?

Accepted Answer

A)   accumulating
B)   sorting out
C)   adaptive packaging
D)   allocatingE) A) and D)
F) A) and C)

Question 10

Staff Resources makes industrial uniforms for people in the medical and dental professions. Staff Resources has total fixed costs of $200,000. The fixed-cost contribution for each uniform is $10. How many uniforms does Staff Resources need to sell before it breaks even?

Accepted Answer

$200,000/$...

Question 11

Robert and Maxine Thomason are planning to purchase a new refrigerator-freezer for their new home. They have compared the quality, style, and price of four models. For the Thomasons, a refrigerator-freezer is which of the following?

Accepted Answer

A)   convenience product
B)   shopping product
C)   industrial product
D)   specialty productE) A) and C)
F) A) and D)

Question 12

Which of the following is considered an expense item for a dentist's office?

Accepted Answer

A)   peroxide for whitening teeth
B)   dental X-ray equipment
C)   an office desk
D)   a computer systemE) None of the above
F) A) and C)

Question 13

Which of the following business products would be considered an accessory in an insurance claims office?

Accepted Answer

A)   computer
B)   computer paper
C)   printer cartridge
D)   photocopier cartridgeE) A) and D)
F) C) and D)

Question 14

What is a large, expensive capital product, such as the Ford assembly plant in Oakville, Ontario?

Accepted Answer

A)   integral part
B)   emplacement
C)   structural product
D)   installationE) A) and B)
F) None of the above

Question 15

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

Accepted Answer

A)   order forms
B)   the building in which store is located
C)   book shelves
D)   display cabinet for first editionsE) B) and C)
F) A) and D)

Question 16

Which one of the following situations best demonstrates an advantage of price skimming?

Accepted Answer

A)   The low initial prices create an image of value for the customer.
B)   Prices are initially low to encourage customers to purchase the product.
C)   When the price is eventually lowered, consumers might think they are getting a bargain.
D)   It discourages competitors from entering the market.E) B) and D)
F) B) and C)

Question 17

List the four stages of the product life cycle.

Accepted Answer

introduction, growth...

Question 18

Profit maximization is best described by which of the following?

Accepted Answer

A)   obtaining the largest profit possible
B)   having your supplier carry your inventory
C)   building the lowest-cost product possible
D)   selling your product at the highest price possibleE) A) and D)
F) B) and C)

Question 19

A retailer separates children's clothing purchased from Ralph Lauren into various sizes and types of clothing, such as shirts, shorts, and sun dresses. This process is known as which of the following?

Accepted Answer

A)   sorting out
B)   allocating
C)   accumulating
D)   adaptive packagingE) All of the above
F) B) and C)

Question 20

What is a product?

Accepted Answer

any good or service, along wit...

Exam 14: Creating Marketing Strategies

Which of the following business products would be considered an accessory in an insurance claims office?

Correct AnswerverifiedShow Answer

Profit maximization is best described by which of the following?

Correct AnswerverifiedShow Answer

What is a product?

Correct Answerverifiedany good or service, along wit...View AnswerShow Answer

Water transportation is particularly useful for bulky or heavy loads and is one of the least costly forms of transport.

Correct AnswerverifiedShow Answer

Which of the following is considered an expense item for a dentist's office?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following is the point at which the cost of making a product equals the revenues gained from selling the product?

Correct AnswerverifiedShow Answer

Which of the following is a capital product for a multinational organization?

Correct AnswerverifiedShow Answer

For a manufacturer of one-of-kind evening gowns, the lace, satin, and buttons are considered which of the following costs?

Correct AnswerverifiedShow Answer

Staff Resources makes industrial uniforms for people in the medical and dental professions. Staff Resources has total fixed costs of $200,000. The fixed-cost contribution for each uniform is $10. How many uniforms does Staff Resources need to sell before it breaks even?

Correct Answerverified$200,000/$...View AnswerShow Answer

Which one of the following situations best demonstrates an advantage of price skimming?

Correct AnswerverifiedShow Answer

A retailer separates children's clothing purchased from Ralph Lauren into various sizes and types of clothing, such as shirts, shorts, and sun dresses. This process is known as which of the following?

Correct AnswerverifiedShow Answer

Which of the following are the two main new-product pricing strategies?

Correct AnswerverifiedShow Answer

The process of packing 24 rolls of double-ply toilet tissue in super-sized packages such as those sold at Superstore and Costco is an example of which of the following functions?

Correct AnswerverifiedShow Answer

Robert and Maxine Thomason are planning to purchase a new refrigerator-freezer for their new home. They have compared the quality, style, and price of four models. For the Thomasons, a refrigerator-freezer is which of the following?

Correct AnswerverifiedShow Answer

All a manufacturer needs to know to calculate the breakeven point is the fixed and variable costs.

Correct AnswerverifiedShow Answer

List the four stages of the product life cycle.

Correct Answerverifiedintroduction, growth...View AnswerShow Answer

What is a large, expensive capital product, such as the Ford assembly plant in Oakville, Ontario?

Correct AnswerverifiedShow Answer

What is a brand that is so dominant that consumers think of it immediately when a product category is mentioned?

Correct AnswerverifiedShow Answer

In which of the following stages of the product life cycle do most competitors enter the market?

Correct AnswerverifiedShow Answer

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any good or service, along wit...
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$200,000/$...
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introduction, growth...
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