Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
20 Cards in this Set
- Front
- Back
|
TF
A narrow product mix allows a firm to gain stability by concentrating on just a few markets |
F |
|
|
TF
Innovations are much less common and than imitations and adaptions |
F |
|
|
TF
Some firms set an annual percentage ROI ( return on investment ) as their pricing goal |
F |
|
|
TF
A store that sells all of its men's gloves for $9.95 and $15 is practicing price lining |
T |
|
|
A consumer product for which buyers will expend effort or planning, that is purchased infrequently, and that is usually purchased only after being compared with competing products is a____product.
Luxury. Specialty. Convenience. Shopping. Business. |
Shopping |
|
|
A group of similar products that differ only in relatively minor characteristics is called a_
Product. Product line. Generic product. Product differentiation. Product mix. |
Product line |
|
|
If a company needs to obtain cash quickly to pay its bills, and may opt for a pricing strategy that achieves which goal?
Market share increase. Status quo. ROI target. Maximization of profit. Survival. |
Survival |
|
|
The manufacture of cameras and film may price a camera at a low-level to attract customers, the price the film at a relatively high price because customers must continue to purchase film in order to use their cameras. This type of pricing strategy is known as__
Captive pricing. Premium pricing. Price Lining. Special event pricing. Customer increasing. |
Captive pricing |
|
|
A "2/10, net 30 "invoice features is an example of a__discount
Trade. Cash. Preferential. Uniform. Quantity. |
Cash |
|
|
TF
A products classification largely determines the appropriate marketing strategy |
T |
|
|
TF.
The most important element in the success of a branded product is consumers confidence in the product |
T |
|
|
TF
Price sensitivity is always considered "very important quote to consumers in the target market. |
F |
|
|
TF
Competition-based pricing results in a high price when product demand is strong and a low price when demand is weak |
F |
|
|
TF.
Transfer pricing involves the sale of a product to another unit within the same organization |
T |
|
|
All of the following are characteristics of the decline stage of the product lifecycle except__?
A sharp decrease in sales volume.
A decline in the number of competing firms.
Increased consumer awareness of the product.
The removal of less profitable versions from the product mind.
Increased importance of production and marketing cost in determining profit |
Increased consumer awareness of the product |
|
|
To maintain an effective product mix, from often must eliminate some products. This process is called_
Quality modifications. Functional modifications. Aesthetics Productive deletion. Product modification. |
Product deletion |
|
|
A product with no brand at all it's called a_
Discount product. Factory second. Maverick product. Generic product. Plane package product |
Generic product |
|
|
Nonprice competition can be used effectively want to seller does all but which one of the following?
Makes distinctions in product quality.
Differs in customer service.
Uses an attractive promotional strategy.
Creates an appealing package.
Lowers prices. |
Lowers prices |
|
|
Raw materials are an example of a firms__costs
Selling. Operating. Fixed. Overhead. Variable. |
Variable |
|
|
TF
Generally, the product lifecycle consist of five stages: development, introduction, growth, maturity, and decline |
F |
