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Self Test: Multiple Choice

You can find the answers on the last page of this book.

13-1 When you order take-out pizza, which represents the actual product?
1. hunger satisfaction
2. crust with tomato sauce and cheese
3. prompt delivery
4. delicious smell
13-2 Which of the following is not an example of a product line length?
1. Diet Coke, Cherry Coke, and Classic Coke
2. Quaker Instant Oatmeal, Quaker Oatmeal Squares, and Quaker Toasted Oats
3. Honda Civic, Honda lawn mower, and Honda marine engine
4. Crest 3D White toothpaste, Crest Baking Soda & Peroxide toothpaste, and Crest Pro-Health Clinical Gum Protection toothpaste
13-3 When companies compete aggressively on the basis of price, quality, and brand-name image because consumers carefully compare brands, these businesses are most likely selling goods and services.
1. convenience
2. shopping
3. specialty
4. unsought
13-4 When businesses hire celebrities to endorse their products and connect their brands with positive attributes, they are focusing on enhancing their brand
1. loyalty.
2. awareness.
3. association.
4. extension.
13-5 A brand that markets several different products under the same brand name is a
1. manufacturer’s brand.
2. family brand.
3. private brand.
4. co-brand.
13-6 Siobhan Clark just bought a Chicago Cubs jersey with player Jon Lester’s name and number on the back, as well as a hat and jacket that display the Cubs logo. The type of branding strategy used for these products is
1. generic branding.
2. manufacturer’s branding.
3. private branding.
4. brand licensing.
13-7 In what stage in the product life cycle would you consider Tesla automobiles to be?
1. Introduction
2. Growth
3. Maturity
4. Decline
13-8 Stephanie Ling has been asked to conduct a breakeven analysis. In which category would she put the cost of rent for the manufacturing facility?
1. Fixed cost
2. Variable cost
3. Revenue cost
4. Production cost
13-9 Rocco Valentino shops only at Walmart because Rocco believes he will receive the lowest price without further hassles. This type of pricing strategy is known as pricing.
1. dynamic
2. everyday low
3. competition-based
4. penetration
13-10 Sally and Brian only go shopping on Tuesdays because they can get the senior discount. Which pricing strategy are they taking advantage of?
1. Predatory pricing
2. Price discrimination
3. Target costing
4. Psychological pricing

True/False

You can find the answers on the last page of this book.

13-11 The augmented product provides additional value to a customer’s purchase.
1. □ True or □ False
13-12 A local pizza joint increased its prices, so now you buy pizza elsewhere. Pizza is therefore an inelastic good.
1. □ True or □ False
13-13 The local small appliance store has microwave ovens for sale at a price of $149.95. The price tag notes that the manufacturer’s suggested retail price is $160. This type of pricing is referred to as a loss leader.
1. □ True or □ False
13-14 MRO B2B products are marketed much like consumer convenience goods and services.
1. □ True or □ False
13-15 A product’s packaging is used only to provide protection of the good’s contents.
1. □ True or □ False

Critical Thinking Questions

13-16 How are brand loyalty, specialty goods and services, and prestige pricing related?
13-17 Describe the core, actual, and augmented product benefits for the following goods and services: a hamburger purchased at McDonald’s, a gym membership, and this textbook.
13-18 Describe when it might be appropriate to use each of the following pricing strategies: discounting, rebates, bundling, dynamic pricing, prestige pricing, psychological pricing, loss leader pricing, and reference pricing.

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Table of Contents for Self Test: Multiple Choice

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Table of Contents for
Self Test: Multiple Choice