MKTG 3310 Chapter 6-9 Practice Quiz ?'s

____________ pricing is when a firm tries to determine the price at which it will break even or earn the profit it is seeking.

Good-value

Compared with undifferentiated marketing, differentiated marketing is more likely to lead to _____________.

Higher costs of doing business

Which statement is most likely true about idea generation in the new product development process?

Idea generation is usually followed by procedures that reduce the total number of ideas.

Computer World sells laptops separately from accessory products like docking stations, anti-virus software, and external hard drives. This is referred to as __________ pricing.

Optional-product

In the __________ stage of new product development, products undergo rigorous tests to make sure that they perform safety and effectively, or that consumers will find value in them.

Product development

What type of pricing is being used when a company temporarily prices its products below the list price to create buying excitement and urgency?

Promotional pricing

________________ segmentation factors divide buyers into different groups based on social class, lifestyle, or personality characteristics.

Psychographic

Which positioning strategy offers value for consumers by providing the same brands as competitors at a lower price?

Same-for-less

Service variability means that ___________.

Service quality depends on when, where, and how they are provided.

A company's external sources of new product ideas include its _________.

Suppliers

(T/F): An augmented product is a product that is built around the core benefits and actual product by offering additional consumer services and benefits.

True

(T/F): Most major new innovations are unsought until consumers become aware of them through advertising.

True

(T/F): The maturity stage of the product life cycle is characterized by a slowdown in sales growth.

True

Delta, an American video game manufacturer, targets teens between the ages of 13 and 18, providing free game trials and applications. The firm's marketing approach exemplifies ________ segmentation.

Age and life-cycle

Which of the following would most likely trigger a price increase?

Cost inflation

A product life cycle has five distinct stages: product development, introduction, growth, maturity, and ________.

Decline

(T/F): If demand is elastic rather than inelastic, sellers typically consider increasing their prices.

False

(T/F): Modifying a product is an effective strategy in the maturity period of the product life cycle because the product's decline is irreversible at this stage.

False

(T/F): Pricing strategies usually remain the same as a product passes through its life cycle.

False

Which link in the service profit chain emphasizes superior employee selection and training?

Internal service quality

A market segment is less attractive when _________.

It contains powerful suppliers who can control prices.

Product mix depth refers to the ____________.

Number of versions offered for each product in the line.

Consumer products that the buyer either does not know about or knows about but does not normally consider buying are referred to as ___________ products.

Unsought