Question 1 |
Customers today want separate prices for each service element and they also want the right to select the elements they want. The customers are said to be pressing for _____ services.
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Question 2 |
The zone of __________ is a range where a service dimension is deemed satisfactory, anchored by the minimum level consumers are willing to accept and the level they believe can and should be delivered.
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Question 3 |
Services high in __________ qualities have characteristics that the buyers can evaluate before purchase.
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Question 4 |
Companies may wish to implement a(n) __________ to achieve more growth, to realize higher margins, or simply to position themselves as full-line manufacturers.
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Question 5 |
How a consumer shops for organic foods and how he or she uses and disposes of the product is part of the consumers' __________ that is important for marketers to consider.
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Question 6 |
The way the user performs the tasks of getting and using products and related services is the user's total _____ system.
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Question 7 |
A customer judges a product offering by three basic elements: product features and quality, services mix and quality, and:
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Question 8 |
A consumer products firm manufactures and sells over 200 different sizes and varieties of jams and jellies. We can say that this manufacturer's product mix has high:
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Question 9 |
Josh gets his bike serviced at Dean's Garage even though there's another garage much closer to home. He prefers Dean's because the work is usually done quickly and the staff tries to solve the issues with the bike as soon as possible. Dean's Garage excels at which of the following five determinants of service quality?
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Question 10 |
Marketers have traditionally classified products on the basis of three characteristics: __________, tangibility, and use.
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Question 11 |
Regular maintenance and repair costs are known as _____ costs.
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Question 12 |
Cocktail lounges in restaurants are examples of:
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Question 13 |
Which of the following is an example of a hybrid service?
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Question 14 |
Which of the following is a benefit of product mapping?
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Question 15 |
The __________ of the product mix refers to the total number of items in the mix.
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Question 16 |
Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups:
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Question 17 |
Unlike physical products, services cannot be seen, tasted, felt, heard, or smelled before they are bought. This is known as the __________ aspect of services.
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Question 18 |
Services high in __________ qualities are those services that have characteristics the buyer normally finds hard to evaluate even after consumption.
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Question 19 |
The __________ rates the various elements of the service bundle and identifies required actions.
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Question 20 |
Industrial goods can be classified as __________, capital items, or suppliers and business services based on their relative cost and how they enter the production process.
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Lesson 7 Exam |
Question 21 |
In __________ pricing, the firm bases its price largely on competitors' prices.
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Question 22 |
__________ price refers to what the consumers feel the product should cost.
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Question 23 |
While shopping at the mall, Jane is asked by one of the sales representatives at the cosmetics counter to try out a new lipstick that her company is test marketing. The company representative asks her how much she would be willing to pay for the lipstick. After trying it out, Jane is of the opinion that $5 is just the right price for it. What type of a reference price is Jane using?
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Question 24 |
Which of the following is the first step in setting a pricing policy?
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Question 25 |
A firm that is plagued with overcapacity, intense competition, or changing wants would do better if it pursues __________ as its major objective.
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Question 26 |
__________ auctions let would-be suppliers submit only one bid; they cannot know the other bids.
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Question 27 |
When consumers examine products, they often compare an observed price to an internal price they remember. This is known as a(n) __________ price.
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Question 28 |
Deducting the desired profit margin from the price at which a product will sell, given its appeal and competitors' prices, is known as:
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Question 29 |
The key to perceived-value pricing is to:
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Question 30 |
Which of the following is TRUE regarding price elasticity?
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Question 31 |
Many consumers are willing to pay $100 for a perfume that contains $10 worth of scent because the perfume is from a well-known brand. What kind of a pricing is the company depending on?
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Question 32 |
A manufacturer has invested $750,000 in a new product and wants to set a price to earn a 15 percent ROI. The cost per unit is $18 and the company expects to sell 50,000 units in the first year. Calculate the company's target-return price for this product.
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Question 33 |
__________ cost is the cost per unit at that level of production.
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Question 34 |
When a company introduces a product at a very high price and then gradually drops the price over time, it is pursuing a __________ strategy.
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Question 35 |
The decline in the average cost of production with accumulated production experience is called the:
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Question 36 |
If demand changes considerably with a small change in price, the demand is said to be:
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Question 37 |
Costs that differ directly with the level of production are known as _____ costs.
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Question 38 |
A market-penetration pricing strategy is most suitable when:
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Question 39 |
Companies that believe that a higher sales volume leads to lower unit costs and higher long-run profits are attempting to:
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Question 40 |
A company must make payments each month for rent, heat, interest, and salaries. These are _____ costs.
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