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Exam 14: Developing and Pricing Goods and Services

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Question 51

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When consumers reach the point of brand , the product becomes a specialty good.

A) association
B) desire
C) awareness
D) insistence

E) C) and D)
F) A) and B)

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Question 52

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The Pillsbury Doughboy is an example of a:

A) patent.
B) trademark.
C) private brand.
D) generic label.

E) A) and C)
F) None of the above

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Question 53

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Suits for Success is a men's clothing store in a large suburban shopping mall. The managers of the store know that their customers usually comparison shop, looking carefully at quality and price before deciding to buy. Armed with this information, Suits for Success carries quality clothing, offers competitive pricing, and friendly, helpful service. The target customers apparently view men's suits as a:

Federal government legislation identifies the type of information that packaging must offer.

Products that are used in the production of other goods and services are called goods.

Price leadership is a demand based pricing strategy.

The rent a firm pays each month for office space is an example of a(n) :

Travelwell manufactures and sells luggage and briefcases. Their marketing research indicates that durability is the attribute that consumers most desire in their luggage and briefcases. Travelwell now emphasizes durability in all of their promotional efforts. This strategy is intended to build brand equity.

Price leadership occurs when one or more dominant firms set pricing practices that other firms in the market follow.

Unsought goods and services fail to provide the benefits consumers expect.

The rainbow colored apple is Apple Computer's:

In the "Reaching beyond Our Borders" box in the chapter, Don Johnson, owner of gourmet chocolate company Choco-Logo, found out that in his market:

The marketing efforts for convenience and specialty goods are essentially the same.

The Internet allows customers to compare prices of many goods and services. This technology will likely:

Federal legislation requires that the brand name of a product clearly identify the manufacturer of that product.

As a manager at Excitement Foods, Mark is responsible for the firm's Kool'nKreamy brand of ice cream. Recently, he approved a proposal to test market new ice cream flavors. He is also considering the possibility of lowering the price of the ice cream and initiating a new advertising campaign. Mark appears to be a(n) :

Miller Light Beer, Maxwell House Coffee, Jell-O brand gelatin, Kraft Mayonnaise, and Marlboro Cigarettes, were all at one time products of the Philip Morris Company. These products represented a part of the product line Philip Morris offered.

Attracting attention, describing contents, explaining benefits and identifying the uses of a product are all functions of:

Newspapers are sold daily in a wide variety of locations. This widespread distribution suggests that newspapers are classified as convenience goods.

uses price points to establish prices that help create the impression that the product is less expensive than it is.