BUS 100 Products and Pricing

Industrial supplies:

are bought routinely have little impact on long-run profits are expense items are bought in fairly large quantities

_____ segmentation is based on what the product will do rather than on consumer characteristics

Benefit

A large, expensive capital product, such as the Corvette manufacturing plant in Kentucky and Cumberland Mall, is called a(n)

installation

The marketing concept:

satisfies customer wants and needs legally and responsibly

In new-product development, _____ is the stage at which products that do not meet new-product goals are rejected.

screening

A strategy of charging a high introductory price for a new product that invites eventual competition is called price:

skimming

Frequent-buyer clubs are common tools in relationship marketing.

true

Which of the following is NOT an example of a convenience product?

Lawn Furniture

_____ is the division of markets into different groups

Market segmentation

Which of the following is a consumer nondurable?

breakfast cereal