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Exam 14: Developing and Pricing Goods and Services

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Question 151

Multiple Choice

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Many supermarkets carry plain packages that only identify the name of the product that is inside. For example, a label may read simply "peaches" or "green beans." These goods represent:

A) private labels.
B) manufacturers' brands.
C) generic goods.
D) universal code branding.

E) All of the above
F) A) and B)

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Question 152

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A trademark is a brand that has been given exclusive legal protection for both the brand name and the pictorial design.

A) True
B) False

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Question 153

Multiple Choice

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The number of units of a product that must be sold for total revenue to equal total costs is called the:

According to the product life cycle model, sales are expected to peak in the _________ stage.

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

__________ goods and services represent those products that consumers are unaware of or haven't thought of buying.

Which stage of the product life cycle does rapidly rising sales, very high profit levels, and a growing number of competitors characterize?

At Isuzu's Appliance Store, all new products are offered with an extended service contract, as well as free delivery and installation. By offering these value enhancers, Isuzu's has added to their total product offer.

Creative product differentiation can enable a small business to increase market share.

One function of effective packaging is to protect the goods inside during handling and storage, as well as deter product tampering and theft.

The characteristics of specialty goods restrict their effective sale over the Internet.

Psychological pricing utilizes high prices to create the image of a high-quality product.

One function of effective packaging is to attract the attention of consumers.

Variable costs are costs that change with the level of production.

Sears sells batteries under its own Diehard brand name even though another company actually produces these batteries. This is an example of a:

Location is very important in the marketing of ________ because consumers desire to purchase these goods with a minimum of shopping effort.

Low prices can often help retailers create an attractive total product offer.

According to the box Reaching Beyond Our Borders, brand names must hold great meaning or customers will not acknowledge them.

A brand includes practically all means of identifying a product.

Break-even analysis determines profitability of a firm at various levels of sales.