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5 Written questions

5 Matching questions

  1. Revenue
  2. Setting the Right Price
  3. Experience Attributes
  4. Why improve products?
  5. Product Life Cycle Stages
  1. a price charged to customers multiplied by the number of units sold
  2. b Establish pricing goals
    Estimate demand, costs, and profits
    Choose a price strategy to help determine a base price
    Fine-tune the base price with pricing tactics
  3. c need some trial or consumption before evaluation
  4. d better corporate pride, be consistent w/ image, attract customers, beat competition
  5. e Introduction, Growth, Maturity, Decline

5 Multiple choice questions

  1. Demand tends to decrease as price increases
  2. revenue minus expenses
  3. sell same products to current markets
  4. determines whether a product is a pure good, pure service or hybrid of both
  5. new products crucial to growth; new product development process; products evolve through a life cycle; models can be used to forecast sales; marketers should study important trends

5 True/False questions

  1. Vertical IntegrationWhen manufactures competes with its partners


  2. Market Development - Innovationsell existing products to new markets


  3. Top Down Approachidea generation, design and development, commercialization


  4. Exchangestarts with a name; marketers should chose brand names that convey brand information; brand name meaning built over time; invoke a certain image


  5. Yield Management Pricingimplement low initial price and gradually increase as product grows/becomes known


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