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Exam 12: Creating and Pricing Products That Satisfy Customers

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Question 91

Multiple Choice

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WD-40, Inc. markets only one product, its namesake chemical lubricant. The company offers the product in several different container sizes: smaller ones for household use, and larger ones for industrial use. WD-40 would be considered as having a

A) wide product mix.
B) broad product line.
C) narrow product mix.
D) differentiated product line.
E) brand name.

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Question 92

Multiple Choice

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Your Way, Inc. Eric buys companies that are small or companies in financial troubl After looking over the different products available, Eric realized that the company's previous owner was not aware of the product life-cycle because the company kept items that were obviously too old and out-of-dat -Refer to Your Way, Inc. What type of products is sold at Your Way?

A) Shopping products
B) Business products
C) Specialty products
D) Convenience products
E) Unique products

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Question 93

Multiple Choice

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Your Way, Inc. Eric buys companies that are small or companies in financial troubl After looking over the different products available, Eric realized that the company's previous owner was not aware of the product life-cycle because the company kept items that were obviously too old and out-of-dat -Refer to Your Way, Inc. If Eric wanted to develop a new product, he would begin with

​UVW Industries is in a business in which competition demands little variance in pricing so it prices its products to stay at the same level of business it has enjoyed in order to maintain price stability. This is known as

For a product such as staples, which of the following determines whether it is a consumer product or a business product?

A manager at JCPenney discovers that Dillard's has reduced the price of its children's Levi's from $31.99 to $24.99, according to an advertisement in the Sunday newspaper. She immediately phones her store and instructs the salesperson on duty to put a sign up next to their children's Levi's that reads, "SALE: $24.99." This is an example of what pricing strategy?

Which of the following is a manufacturer brand?

An order of calculators with new features just arrived for the finance department of Nike. These calculators represent

Costs that depend on the number of units produced are called

William Clark wants to know his breakeven point. His selling price is $20 per unit, his fixed costs are $6,000, and the variable costs per unit are $6. What is his breakeven quantity?

All of the following are functions of packaging except

​Janice is starting a new business and is confused about how to determine the price to set for her product. She comes to you for advice and you tell her, correctly, that the two factors that determine the price at which a product will sell are

Are a product mix and a product line the same thing? Why or why not?

Which of the following is considered a generic term?

Inside the packaging of a new bread machine she purchases, Ginger finds a paper stating, "All our products will be replaced within the first year if they fail to operate correctly. However, consumer misuse or abuse will effectively end this policy." This is a(n)

In her local supermarket Susan purchases green beans in a white can simply labeled as green beans. This represents a(n) ____ brand.

Differential pricing means different buyers pay different prices for the same quality and quantity of a product.

Random discounting is often predictable so consumers wait to make purchases until they can benefit from the price reductions.

A written explanation of the responsibilities of the producer in the event the product is found to be defective or otherwise unsatisfactory is called a(n)

What is a status-quo pricing objective?