BA 1301 - Quiz 3

Personal selling is an element of the product strategy.

False

_____ pricing is the strategy of increasing the price of a product so that consumers will perceive it being of higher value.

Prestige

Selling retirement plans to people over the age of 50 is an example of demographic segmentation.

True

Which of the following is NOT one of the current trends in business management today?

application of the expectancy theory

A relatively inexpensive item that requires very little shopping effort is called a _____ product.

convenience

The manufacturer Mike and Ike, the fruit-flavored chewy candies, has changed its packaging and developed contests all geared to 12- to 17-year-olds. What type of market segmentation identifies its market?

demographic

Production and operations management involves three main types of decisions that are made at three different stages. The final stage of operations management focuses on:

improving production and operations

The ability to manufacture many goods at once is called _____ production.

mass

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):

niche competitive advantage

In Herzberg's model, potential job dissatisfiers are called hygiene factors.

True

In the product development process, most companies utilize the concepts of brainstorming, screening, and test marketing.

True

Diapers is a product category in the maturity stage of its product life cycle. This means that the manufacturers of diapers:

are creating product line extensions

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.

bundling

1. Compassion International is a nonprofit organization dedicated to releasing poor children from spiritual, economic, social and physical poverty. What would be the most likely goal for an advertising campaign for this international organization?

provide information

A CAD/CAM system:

reduces costs, improves quality, shortens design time, & controls flow of material

According to Maslow, people need to feel secure, to be protected from physical harm, and to avoid the unexpected. These needs are called _____ needs.

safety

Roger Wu has decided to buy a new Porsche. Since there are no Porsche dealers in his community, he must travel almost 200 miles to find a Porsche dealer to purchase the car of his dreams. For Wu, a Porsche is a _____ product.

specialty

1. Life Savers Gummies Fruit Splosions, liquid-filled gummies combined with a burst of real fruit juice, are a new product for The Wrigley Co.. Before marketing the product nationwide, Wrigley gave out samples of the candy at several rock concerts and then recorded consumers' feelings about the candy, its taste, and its name. In which stage of the new-product development process would this have happened?

test marketing

Elton Mayo, America's first industrial psychologist, was responsible for formulating:

the explanation of the Hawthorne effect.

Point-of-sale (POS) terminals would NOT be helpful in which of the following businesses?

the manufacturer of plasma television screens