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5 Written questions

5 Matching questions

  1. Highest Profit Items
  2. Experience Attributes
  3. Price
  4. Private Label Brands
  5. Diversification
  1. a retailer can offer decent quality for lower prices
  2. b impulse buys, generally just below eye level height; kids cereal kept within reach of kids
  3. c that which is given up in an exchange to acquire a good or service
  4. d need some trial or consumption before evaluation
  5. e pursue new markets with new products; toughest

5 Multiple choice questions

  1. may appear to produce three product lines, but they may all be characterized as organic
  2. network of firms which are interconnected, provides sellers access to goods/services and buyers a means of purchasing those goods
  3. 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
  4. simple, unexpected, concrete, credible, emotional and stories
  5. offers a slightly broader product line but less depth

5 True/False questions

  1. Product Developmentsell new product to current markets


  2. Penetration PricingCompany can retain some control without complete ownership or capital expenditure


  3. Productcan be either a good or service; central offering in the marketing exchange


  4. Why improve products?better corporate pride, be consistent w/ image, attract customers, beat competition


  5. Four General Pricing ApproachesDemand (McDonalds), Cost (retail), Profit (Kroger), Competition (Rolex, Walmart)