Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

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 stretchingF) B) and C)
G) A) and B)

Question 3

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

Accepted Answer

Brands offered and promoted by a nationa...

Question 4

Compare and contrast auctions and participative pricing.

Accepted Answer

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

Question 5

________ 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 productsF) C) and D)
G) A) and B)

Question 6

Explain loss-leader pricing.

Accepted Answer

Loss-leader pricing refers to selling on...

Question 7

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 productF) A) and B)
G) B) and D)

Question 8

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

Accepted Answer

A)   maturity
B)   introduction
C)   growth
D)   saturation
E)   intensificationF) All of the above
G) A) and B)

Question 9

________ 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 extensionF) B) and C)
G) A) and D)

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

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 stretchingF) C) and D)
G) A) and D)

Question 12

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

Accepted Answer

Products contain both tangible and intan...

Question 13

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 outF) A) and E)
G) None of the above

Question 14

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.F) A) and C)
G) D) and E)

Question 15

Compare and contrast co-branding and licensing.

Accepted Answer

Co-branding occurs when two or more comp...

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

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 stretchingF) A) and E)
G) B) and D)

Question 18

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 19

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 productF) B) and E)
G) B) and D)

Question 20

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

Exam 14: Product and Pricing Strategies

Expense items are ________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedBrands offered and promoted by a nationa...View AnswerShow Answer

Compare and contrast co-branding and licensing.

Correct AnswerverifiedCo-branding occurs when two or more comp...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Co-branding is ________.

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedProducts contain both tangible and intan...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Compare and contrast auctions and participative pricing.

Correct AnswerverifiedIn an auction,the seller doesn't set a f...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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) ________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

Explain loss-leader pricing.

Correct AnswerverifiedLoss-leader pricing refers to selling on...View AnswerShow Answer

Correct Answer
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Brands offered and promoted by a nationa...
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Co-branding occurs when two or more comp...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Products contain both tangible and intan...
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Correct Answer
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Correct Answer
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In an auction,the seller doesn't set a f...
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Loss-leader pricing refers to selling on...
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