Question 1

A software firm buys 250 personal computers for a new facility that it is opening.This is an example of an expense item.

Accepted Answer

A) True 
 B)False

Question 2

John decides to buy a new car.He compares many products and considers such aspects as fuel efficiency,power,and size before finalizing a model.In this case,the new car is an example of a(n)________.

Accepted Answer

A)  convenience product 
B)  expense item 
C)  specialty product 
D)  capital item 
E)  shopping product 
A)  convenience product 
B)  expense item 
C)  specialty product 
D)  capital item 
E)  shopping product

Question 3

________ refers to using the brand of existing products on products in a new category.

Accepted Answer

A)  Brand filling 
B)  Line extension 
C)  Line filling 
D)  Brand stretching 
E)  Brand extension 
A)  Brand filling 
B)  Line extension 
C)  Line filling 
D)  Brand stretching 
E)  Brand extension

Question 4

What are national brands,private brands,and generic products?

Accepted Answer

Brands offered and promoted by a nationa

Question 5

Product mix is a complete list of all products that a company offers for sale.

Accepted Answer

A) True 
 B)False

Question 6

Research and development is carried out usually during the ________ stage of product development.

Accepted Answer

A)  maturity 
B)  introduction 
C)  growth 
D)  saturation 
E)  intensification 
A)  maturity 
B)  introduction 
C)  growth 
D)  saturation 
E)  intensification

Question 7

A product carrying the label of a wholesaler is an example of a private brand.

Accepted Answer

A) True 
 B)False

Question 8

Expense items are ________.

Accepted Answer

A)  fairly important goods and services that people buy less frequently 
B)  everyday goods and services that individuals buy 
C)  inexpensive products that organizations generally use 
D)  expensive organizational products with a longer useful life 
E)  particular brands that the buyer especially wants and will seek out 
A)  fairly important goods and services that people buy less frequently 
B)  everyday goods and services that individuals buy 
C)  inexpensive products that organizations generally use 
D)  expensive organizational products with a longer useful life 
E)  particular brands that the buyer especially wants and will seek out

Question 9

Commercialization refers to the large-scale production and distribution of products that have survived the testing process.

Accepted Answer

A) True 
 B)False

Question 10

Using a brand name on a variety of related products is known as ________.

Accepted Answer

A)  brand filling 
B)  brand extension 
C)  line extension 
D)  family branding 
E)  brand stretching 
A)  brand filling 
B)  brand extension 
C)  line extension 
D)  family branding 
E)  brand stretching

Question 11

Which of the following statements is TRUE of a brand extension strategy?

Accepted Answer

A)  Brand extension cuts the costs and risks of introducing new products. 
B)  It is used by firms that have a weak brand name. 
C)  It is a strategy used by start-up firms. 
D)  It refers to developing items to fill gaps in the market. 
E)  Brand extension refers to creating variations of a product. 
A)  Brand extension cuts the costs and risks of introducing new products. 
B)  It is used by firms that have a weak brand name. 
C)  It is a strategy used by start-up firms. 
D)  It refers to developing items to fill gaps in the market. 
E)  Brand extension refers to creating variations of a product.

Question 12

________ are everyday individual goods and services that people buy frequently without much conscious planning.

Accepted Answer

A)  Convenience products 
B)  Shopping products 
C)  Expense items 
D)  Capital items 
E)  Specialty products 
A)  Convenience products 
B)  Shopping products 
C)  Expense items 
D)  Capital items 
E)  Specialty products

Question 13

A firm uses the brand of an existing product on a new product in a different new category.This is an example of line filling.

Accepted Answer

A) True 
 B)False

Question 14

MaCton is a Chinese manufacturer of personal computers.The company decides to extend its product line by adding two premium products that are priced much more than the existing products.Identify the product-line expansion method that the company is using.

Accepted Answer

A)  brand extension 
B)  line filling 
C)  line extension 
D)  brand filling 
E)  line stretching 
A)  brand extension 
B)  line filling 
C)  line extension 
D)  brand filling 
E)  line stretching

Question 15

Compare and contrast auctions and participative pricing.

Accepted Answer

In an auction,the seller doesn't set a f

Question 16

Co-branding is ________.

Accepted Answer

A)  a legal protection given to owners for exclusive rights to the use of brands 
B)  a partnership to closely link brand names for a single product 
C)  the process of selling a famous brand to a third party 
D)  a method of testing and evaluating a new product 
E)  an agreement to produce and market another company's product 
A)  a legal protection given to owners for exclusive rights to the use of brands 
B)  a partnership to closely link brand names for a single product 
C)  the process of selling a famous brand to a third party 
D)  a method of testing and evaluating a new product 
E)  an agreement to produce and market another company's product

Question 17

Explain loss-leader pricing.

Accepted Answer

Loss-leader pricing refers to selling on

Question 18

Mr.White is a detergent brand.The brand is owned by Unitech,a company that produces consumer products.Unitech uses the same brand for a new kitchen utensil that the company is launching.Identify the product-line expansion method used in this case.

Accepted Answer

A)  brand extension 
B)  brand stretching 
C)  line filling 
D)  line extension 
E)  line stretching 
A)  brand extension 
B)  brand stretching 
C)  line filling 
D)  line extension 
E)  line stretching

Question 19

Select twenty products of your choice.Classify these products as goods and services.

Accepted Answer

Products contain both tangible and intan

Question 20

Compare and contrast co-branding and licensing.

Accepted Answer

Co-branding occurs when two or more comp

A software firm buys 250 personal computers for a new facility that it is opening.This is an example of an expense item.

John decides to buy a new car.He compares many products and considers such aspects as fuel efficiency,power,and size before finalizing a model.In this case,the new car is an example of a(n)________.

________ refers to using the brand of existing products on products in a new category.

What are national brands,private brands,and generic products?

Product mix is a complete list of all products that a company offers for sale.

Research and development is carried out usually during the ________ stage of product development.

A product carrying the label of a wholesaler is an example of a private brand.

Expense items are ________.

Commercialization refers to the large-scale production and distribution of products that have survived the testing process.

Using a brand name on a variety of related products is known as ________.

Which of the following statements is TRUE of a brand extension strategy?

________ are everyday individual goods and services that people buy frequently without much conscious planning.

A firm uses the brand of an existing product on a new product in a different new category.This is an example of line filling.

MaCton is a Chinese manufacturer of personal computers.The company decides to extend its product line by adding two premium products that are priced much more than the existing products.Identify the product-line expansion method that the company is using.

Compare and contrast auctions and participative pricing.

Co-branding is ________.

Explain loss-leader pricing.

Mr.White is a detergent brand.The brand is owned by Unitech,a company that produces consumer products.Unitech uses the same brand for a new kitchen utensil that the company is launching.Identify the product-line expansion method used in this case.

Select twenty products of your choice.Classify these products as goods and services.

Compare and contrast co-branding and licensing.

Developing a Business Mindset

Understanding Basic Economics

The Global Marketplace

Business Ethics and Corporate Social Responsibility

Forms of Ownership

Entrepreneurship and Small Business Ownership

Management Roles, Functions, and Skills

Organization and Teamwork

Production Systems

Employee Motivation

Human Resources Management

Labor Relations

The Art and Science of Marketing

Distribution and Marketing Logistics

Customer Communication

Financial Information and Accounting Concepts

Financial Management

Financial Markets and Investment Strategies

The Money Supply and Banking Systems

Filters

Exam 14: Product and Pricing Strategies

A software firm buys 250 personal computers for a new facility that it is opening.This is an example of an expense item.

John decides to buy a new car.He compares many products and considers such aspects as fuel efficiency,power,and size before finalizing a model.In this case,the new car is an example of a(n)________.

________ refers to using the brand of existing products on products in a new category.

What are national brands,private brands,and generic products?

Product mix is a complete list of all products that a company offers for sale.

Research and development is carried out usually during the ________ stage of product development.

A product carrying the label of a wholesaler is an example of a private brand.

Expense items are ________.

Commercialization refers to the large-scale production and distribution of products that have survived the testing process.

Using a brand name on a variety of related products is known as ________.

Which of the following statements is TRUE of a brand extension strategy?

________ are everyday individual goods and services that people buy frequently without much conscious planning.

A firm uses the brand of an existing product on a new product in a different new category.This is an example of line filling.

MaCton is a Chinese manufacturer of personal computers.The company decides to extend its product line by adding two premium products that are priced much more than the existing products.Identify the product-line expansion method that the company is using.

Compare and contrast auctions and participative pricing.

Co-branding is ________.

Explain loss-leader pricing.

Mr.White is a detergent brand.The brand is owned by Unitech,a company that produces consumer products.Unitech uses the same brand for a new kitchen utensil that the company is launching.Identify the product-line expansion method used in this case.

Select twenty products of your choice.Classify these products as goods and services.

Compare and contrast co-branding and licensing.

Developing a Business Mindset

Understanding Basic Economics

The Global Marketplace

Business Ethics and Corporate Social Responsibility

Forms of Ownership

Entrepreneurship and Small Business Ownership

Management Roles, Functions, and Skills

Organization and Teamwork

Production Systems

Employee Motivation

Human Resources Management

Labor Relations

The Art and Science of Marketing

Distribution and Marketing Logistics

Customer Communication

Financial Information and Accounting Concepts

Financial Management

Financial Markets and Investment Strategies

The Money Supply and Banking Systems

Filters