mark exam 3
_______ used to study the course of a product sales and profits
A product lifecycle
Which would most likely have the longest duration in a market and be characterized by several periods of renewed interest
A style
_________ Involves a review of sales, costs, and profit projections
Business analysis
________ products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort
Convenience
Value based pricing is the reverse process of
Cost based pricing
Company designed what they think is good, calculate expenses or making product, sets price....
Cost plus pricing
A company adding new features to a product will most likely compare each features value to customers with its______
Cost to the company
When an end users problem and experiences define a new product the approach is called
Customer centered new product development
What is an economic factor that affects the pricing decisions of a company
Interest Rates
Which link in the service range emphasizes superior employee selection and training
Internal Service quality
What is an internal source of ew product ideas
Intrapreneurially programs
What stage of product lifecycle will promo expenditures
Introduction
Sherman Act, clayton act, and robinson act are adopted to curb the formation of
Monopolies
Sportware shoes ex
Multi Brands
Xenon Electronics ex
National (brands)
Under ________, the market consists of a few large sellers who are highly sensitive to each others pricing and marketing strategies
Oligopolistic competitions
Product mix also known as
Product portfolio
Some companies are now appointing __________
Product stewards
Luxury motors ex
Promotional allowances
In ________, the market consists of many buyers and sellers trading in uniform commodity, such as wheat, copper, or financial securities
Pure Competition
_____ prices are carried in buyers minds and used when looking at a given product
Reference
Which is true of the growth stage of the product life cycle
Sales start climbing quickly
Under ________ a product development approach
Sequential
The first part of a marketing strategy statement describes the ______ of a new product
Target Market
Wayne industries ex
Test Marketing
________ is the stage where a product and its proposed marketing program are introduced into realistic market settings
Test marketing
What conditions are most likely essential for implementing a successful market skimming pricing strategy for product
The products quality and image supports its higher price
How do firms that use captive product pricing make up for the low prices of their main products
They set high mark ups on the captive products
When a firm varies the price of a product by the season, month, day or even hour
Time based pricing
Which group is most likely offered functional discount by manufacturers
Trade channels members that perform sales tasks
which pricing strategies changes the same price plus freight to all customers, regardless of location
Uniform delivered pricing
Providing extra amenities
Value added
Which is considered part of an augmented product rather than that of an actual product or core customer value.
Warranty
True of a product int eh maturity stage
a slowdown occurs in sales growth
A __________ is the way consumers perceive an actual or potential product
product image
A company external sources of new product ideas includes its
suppliers
Specialty products are consumer products and services that customers generally buy _______
without making comparison
Most true about unsought products
Marketers use aggressive advertising to convince people to buy these
What sets the upper limit for a products pricing
Consumer perceptions of value
Product mix depth refers to the _____
# of versions offered for each product in the line
Convenience product ex
Candy
_________ occurs when two established brands of different companies are used on the same product
Co-Branding
What is an industrial product under supplies and services
Coal
_________ pricing occurs when a seller states prices or price savings that mislead consumers
Deceptive
Expanding a product line by adding more items within the present range of the line is known as product line ______
Filling
Parvon cleaning ex
Find new market segments for the brand
_______ costs are also known as overhead
Fixed
The new product development process usually starts with
Idea generation
Break even analysis is true
It fails to consider customer value and the relationship between price and demand
hat component identifies product or brand
Label
Sweet and cream yogurt ex
Line extensions
A&B Marketing ex
Organization Marketing
________ refers to the amount of money charged for product or service
Price
In a sequential new product development a new product passes then goes to
Product development
Nerdhead electronics ex
Product line pricing
_____ refers to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible
Services
service inseparability means
Services become a part of their providers, whether the providers are people or machines
True statement of shopping products
Shopping products are purchased less frequent than convenience products
Computer works ex
Zone pricing
Which is most kelly associated with commercialization
building or renting a manufacturing facility
Brand _______ is the differential effect knowing the brand name has on customer response
equity
quest inc ex
idea screening
What is true of a product lifecycle
it is generally difficult to forecast the sales level at each plc stage