MRKG-1311 Test 3 TJC

Screening

A group of managers has been assigned the task of developing a new product, has listed several good ideas, and is now in the process of assessing each idea to determine whether it is consistent with the firm's overall objectives and resources. The managers are at what stage of the new-product development process?

price elasticity of demand.

A measure of sensitivity of demand in relation to changes in price is

specialty retailer.

A store that offers a wide variety of shoes for men, women, and children would most likely be considered a(n)

price.

Advertisements for Suave shampoos emphasize that other shampoos may cost more but don't work any better than Suave. In this example, Suave is competing on the basis of

growth

Aggressive pricing is typical during the ____ stage of the product life cycle.

franchising.

An arrangement in which a supplier grants a dealer the right to sell products in exchange for some type of consideration is

retailer.

Any organization that purchases products for the purpose of reselling them to ultimate consumers is a(n)

department stores

As discount stores improve their services and atmosphere as well as raise their prices, the distinction between discount stores and ____ is becoming blurred.

business analysis

Breakeven analysis is a tool that marketers are likely to employ during the ____ stage of the new-product development process

variable costs.

Costs that vary directly with changes in the number of units produced or sold are called

nonstore

Direct marketing, direct selling, and automatic vending are all examples of ____ retailing.

atmospherics.

Exterior and interior characteristics such as layout, displays, color, and lighting are all elements of a store's

retail positioning.

Identifying an unserved or underserved market segment and serving it through a strategy that is distinguished in the mind of the consumer is called

total revenue will increase

If a product has an inelastic demand and the manufacturer raises its price,

line extension.

If the manufacturer of Cool Whip were to introduce an orange-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example of

selling price; cost

Markup is measured either as a percentage of ____ or a percentage of ____.

idea generation

Outback Steakhouse wants to expand its line of food products. The managers sent surveys to customers to determine which food items would appeal to them. Outback is currently in the ____ phase of new-product development.

depth of product mix.

Procter & Gamble makes at least eight different laundry detergents. This is most relevant to the issue of

shopping

Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products.

concept testing.

Questions such as "How often would you buy this product?" and "Which features are of little or no interest to you?" are often proposed during

end of the maturity

Sales usually start to decline during the ____ stage of the product life cycle.

perform physical distribution of products from manufacturers to retailers.

The primary function of most wholesalers is to

demand, competition, and cost.

The three primary bases for developing prices are

bait pricing.

When Gabriella logs on to Dell's website, she sees a notebook model priced well below $1,000. As she continues through the site to view the other options, she realizes the first one she saw was the cheapest model available, but she of course wants more features. Dell is utilizing

price competition.

When marketers emphasize price as an issue and match or beat the prices of other companies, they are using

Warehouse club

Which of the following is a large-scale, members-only, retailer that combines cash-and-carry wholesaling with discount retailing?

Toys "R" Us

Which of the following is an example of a category killer?

Price

Which of the following is the most flexible variable in the marketing mix?

A product line is defined as

a group of closely related products that are considered a unit because of marketing, technical, or end-use considerations.

At the breakeven point,

the money a company brings in from selling products equals the amount spent producing the products.