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Exam 14: Developing and Pricing Goods and Services

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Question 61

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Which of the following is the best example of a product line?

A) General Motors offers passenger cars,small trucks,and tractor trailers.
B) Sony offers DVD players,compact disk players,and video games.
C) Kellogg offers Special K,Raisin Bran,Corn Flakes,and a variety of other cold ready-to-eat cereals.
D) Hewlett Packard offers scanners,printers and personal computers.

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

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Question 62

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Green Giant Green Beans,Chevy Corvette,Coca Cola,Dole Pineapple,and Peter Pan Peanut Butter are all examples of:

A) private brands.
B) wholesaler brands.
C) manufacturers' brands.
D) registered generic brands.

E) C) and D)
F) All of the above

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Question 63

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Brand managers are responsible for the marketing of a product after it has been developed and a clear promotional message has been identified.

"Create a better mousetrap and the world will beat a path to your door." This statement is consistent with the idea behind the commercialization of products.

Since Kazam Cleaners offers home and office cleaning services no different from competitors,the company can not utilize a product differentiation strategy.

Product testing is designed to reduce the number of new product ideas that a firm works on at any one time.

Product screening is designed to:

A bank's product line may include safety deposit boxes,car loans,and traveler's checks.

The reputation of the manufacturer and the retail store surroundings are considered part of the value enhancers of a total product offer.

While the packaging of services has not yet captured the attention of businesses,technological improvements will likely create new opportunities.

Papa's Market offers customers tissues,canned vegetables,napkins,and dishwashing detergent in basic packaging with no identified brand.These goods are popular with Papa's cost-conscious shoppers because they are significantly less expensive than nationally known brand names.These types of goods are examples of generic goods.

The Coca Cola Company produces Diet Coke,Diet Coke with Splenda,and Coke Zero along with a number of other flavors.These products are part of Coke's:

Brand equity refers to those factors that people associate with a specific brand name,such as awareness,perceived quality,and loyalty.

The __________ on packages were intended to improve inventory control for businesses.

The U.S.legal system does not offer trademark protection.

A __________ is a name,symbol,or design (or combination of these) that identifies the goods or services of one seller or group of sellers and distinguishes them from those of competitors.

When reviewing the product life cycle model,it is important to remember that:

The break-even point is that level of sales where total revenues equals total costs.

The target costing strategy establishes a selling price that consumers are willing to pay for a product,and then subtracts a desired profit margin to determine a target cost of production.

Business sponsorship of events,such as the Winston-Salem stock car races or NASCAR's Nextel Cup Series,is intended to increase: