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5 Written questions

5 Matching questions

  1. Unitary Elasticity
  2. Why improve products?
  3. Break Even Pt Qty
  4. Revenue
  5. Big Five
  1. a increase in sales exactly offsets a decrease in prices, so total revenue remains the same
  2. b 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
  3. c price charged to customers multiplied by the number of units sold
  4. d fixed cost / (unit selling price - unit variable cost)
  5. e better corporate pride, be consistent w/ image, attract customers, beat competition

5 Multiple choice questions

  1. order, handle, ship
  2. attach same brand name to products (Nike, Adidas)
  3. Try to reduce bad variability
    Try to improve good variability
  4. introduce a new brand for every product line (P&G)
  5. Consumer tastes
    Price and availability of similar products
    Consumer income

5 True/False questions

  1. How to Pick a good Brand Namesuggest product benefits, be memorable and positive, fit company brand/logo, simple and emotional


  2. Core Elementsgoal is to estimate sales potential


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


  4. Yield Management Pricingchanging of the price based on the day, time, week, and even season (airlines)


  5. Customer Benefits of Brandingimplement low initial price and gradually increase as product grows/becomes known