Reference no: EM131901893
1.- A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort, is called a ________ product.
a).- consumer
b).- convenience
c).- shopping
d).- specialty
2.- A product bought by final consumers for personal consumption, is called a ________ product.
a).- consumer
b).- convenience
c).- shopping
d).- specialty
3.- A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitability, quality, price, and style, is called a ________ product.
a).- consumer
b).- convenience
c).- shopping
d).- specialty
4.- A consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort, is called a ________ product.
a).- consumer
b).- convenience
c).- shopping
d).- specialty
5.- Services cannot be seen, tasted, felt, heard, or smelled before they are bought. This is the service characteristic of service ________.
a).- variability
b).- inseparability
c).- perishability
d).- intangibility
6.- Setting prices based on competitors' strategies, prices, costs, and market offerings, is called ________ pricing.
a).- consumer
b).- foolish
c).- competition-based
d).- quadratic
7.- Setting a high price for a new product in order to skim maximum revenues layer by layer from the segments willing to pay the high price, is called __________pricing.
a).- programmed marketing
b).- market penetration
c).- predatory
d).- market skimming
8.- Setting a below-cost price for a product in order to damage a competitor's firm, is called __________ pricing.
a).- programmed marketing
b).- market penetration
c).- predatory
d).- market skimming
9.- Agreeing with a competitor to both charge a high price for a particular product, is called price ________ .
a).- competition
b).- fixing
c).- breaking
d).- manipulating
10.- When a manufacturer tells a marketing intermediary exactly what price they must charge, it is called retail price ________.
a).- variability
b).- maintenance
c).- performance
d).- fixing
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