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Exam 12: Aproduct Development and Pricing Strategies

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Question 91

Multiple Choice

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Brand names such as Tide, Surf, Biz, and Wisk are effective names because they

A) suggest special characteristics and benefits of the product.
B) are easy for customers to say, spell, and recall.
C) are generic terms for detergent.
D) indicate the products' uses.
E) blend with competing brand names.

F) B) and D)
G) All of the above

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Question 92

Multiple Choice

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Click It, Inc. Travis is a salesperson for Click It, Inc.Click It does not sell products with its own brand name.Instead, its products are created for different retail stores and carry the store brand.Travis thought that several changes needed to be made to a particular product, but Click It management reminded him that the stores, not Click It, owned the brand. However, because Click It had been concerned about dropping sales, management listened to Travis's concerns about the company's pricing.He suggested using a different pricing strategy.More specifically, he felt that the company should incorporate a multiple-unit pricing strategy because it would then allow Click It to set a single price for multiple units.This had the potential of increasing sales and therefore profits, so management agreed to consider Travis's suggestion. -Refer to Click It, Inc.When Travis thinks of products and brands adding value to the company that sells them, which concept is he referring to?

A) Equilibrium brand
B) Brand extension
C) Generic name
D) Brand demand
E) Brand equity

F) A) and D)
G) A) and C)

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Question 93

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If the manager at Best Buy puts a sign up next to a Pioneer stereo that reads, "Only €199.99! €58.01 less than Circuit City," this is an example of what type of pricing strategy?

Price competition occurs when a seller emphasises the

William Clark wants to know his breakeven point.His selling price is €20 per unit, his fixed costs are €6,000, and the variable costs per unit are €6.What is his breakeven quantity?

The depth of a product mix is a measure of the average number of individual products within each line.

One of the major dangers of competition-based pricing is that it often results in price wars.

Competition-based pricing is important if competing products are similar and the organisation is serving markets in which price is the crucial variable of the marketing strategy.

If Tyson, a poultry producer, decided to start producing veggie burgers, this would be an example of

Walgreens advertises the fact that Bayer aspirin may cost more but works no better than Walgreens own brand of aspirin.In this example, Walgreen's is competing on the basis of

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

Carmen Cattucci wanted to buy a new car.She visited several dealers to compare prices, styles, and dealer reputations.Finally, she bought a car from a local dealer.The purchase of a car is an example of a

The stage of new product development in which potential customers are presented with a written or oral description of the product to determine their initial attitudes and buying intentions is called

Automobile fenders are an example of

A pricing strategy in which a manufacturer pays for the shipping cost of its merchandise to the wholesaler is called ____ pricing.

After several years of success with the product line, Procter & Gamble introduced its popular Sure deodorant in three new scents.This is an example of ____ modification.

A consumer product for which buyers will not accept a substitute, for which purchasers do not compare alternatives, and that is purchased infrequently and with extra effort on the buyer's part is a ____ product.

New products are often immediate successes.

Akiko is starting to notice some wrinkles around her eyes and mouth.She has decided to purchase some age-defying wrinkle cream but is unfamiliar with available brands.At the store, she picks out a brand because she remembers a clever advertisement about it on television.What level of brand loyalty does this describe?

Consumers would most likely treat candy bars as ____ products.