Establish a selling price from the following information; cost, $8.45; operating expenses, $.50; and profit, $.80.
What is $9.75
100
What primary factors do business owners consider when determining the ceiling prices of their products?
What is Consumer perceptions and demand
100
Which of the following does effective product/service management help businesses to do:
What is To Compete
100
When considering a new product for your company, you decide to introduce the product in only three states for a 6 month period. This is known as ?
What is test marketing
100
Which of the following is a characteristic of pure services:
What is Does not include a tangible product
200
Product/Service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to
What is Market opportunities
200
Which of the following is an example of a company using brand extension
What is Coca-Cola adding Caffeine-Free diet coke
200
Which of the following factors helps a business to determine its product mix:
What is Size and target market goods
200
To appeal to a target market with slightly different needs, a business decides to add a group of related items to its product mix. This is called a
What is Line extension
200
The product mix that a business decides to offer customers helps to project the business's
What is unique image
300
One way for a business to expand its product mix is by
What is acquiring another company
300
When a business expands its product mix, its goal is to appeal to
What is more market segments with a wider variety of options
300
Due to lackluster sales, the Elba Corporation has decided to eliminate several of its product lines. Elba's executives hope that by focusing on fewer product lines, they will see more profit. The Elba Corporation is planning to adjust the _________ of its product mix.
What is width
300
When considering the services to offer customers, a business should determine if a specific service would
What is enhance customer-sanctification levels competitors.
300
A business is extending its operating hours to accommodate its customers. Which of the following is a business cost associated with this service:
What is higher payroll expenses
400
When a business offers a service that saves time for a customer, its benefit to the customer is
What is convenience
400
What is a benefit to business's offering customized services to their customers
What is businesses charge higher prices for customized services, which can lead to higher profit margins
400
When a business presents a service to the marketplace by emphasizing its economic value, the business is positioning the product on the basis of its
What is price
400
A business that emphasizes a product's environmental friendliness is positioning the product by focusing on
What is attributes
400
When a business emphasizes a products degree of excellence, it is positioning the product by its
What is quality
500
If the XOB Company wants to emphasize the advantages of its product in comparison to similar products in the marketplace, it should position its product in relation to
What is competitors
500
Marketers often condense USPs into short slogans because
What is customers tend to remember just one thing from an advertisement
500
If your company cannot fulfill its USP, it will
What is lose credibility
500
Before identifying your company's USP, ask yourself if