Product
What is the first stage of the product life cycle?
What is introductory stage?
An apparel manufacturer signs a contract with a company that specializes in shipping imported goods.
What is channel management?
Statement that contains exceptions to and exclusions from a warranty
What is disclaimer?
Setting the price for a new product very low to encourage as many people as possible to buy the product.
What is penetration pricing?
A boutique clothing store sells women's sundresses at a high price during the summer and then puts them on clearance once autumn arrives.
What pricing strategy?
What is high-low pricing?
What is the last stage of the product life cycle?
What is the decline stage?
A fast-food restaurant offers a game that allows customers to win money and food prizes.
What is promotion?
One that is clearly stated, in writing or verbally, to encourage a customer to make a purchase.
What is express warranty?
Pricing method in which a company offers several complementary, or corresponding products in a package that is sold at a single price.
What is bundle pricing?
What does SWOT stand for?
What is strengths, weaknesses, opportunities, and threats?
Products that you buy without really thinking about it.
What is convenience products?
A department store decides to have a 20% off sale on all shoes.
What is price?
A warranty that takes effect automatically by state law whenever a purchase is made.
What is implied warranty?
A pizza shop adds up the cost of its ingredients and labor, then sets the pizza price to receive a 20% profit margin.
Which pricing strategy?
What is cost-plus pricing?
What are the 4 P's?
What is product, price, place, promotion?
This product level is just the product itself.
What is core benefit?
A team of workers approach customers in a mall to ask their opinion about a new coffee drink they are test marketing.
What is market information?
a written guarantee that may exclude certain parts of the product from coverage or require the customer to bear some of the expenses for repairs resulting from defects.
What is limited warranty?
A pricing strategy that involves pricing your company's product higher than your immediate competition.
What is premium pricing?
What does PEST stand for?
What is political, economic, social, technological?
Top level of a product that has all of the features; faster data, longer battery life, and a screen that won't crack when the phone.
What is potential product?
A company decides to eliminate a product that did not sell well in the last two years.
What is product/service management?
A warranty that covers the repair or replacement of any defect in a product.
What is full warranty?
A pricing policy that sets a very high price for a new product.
What is price skimming?
List four types of warranties.
What is full, limited, express, implied or extended warranty?