QUESTION 1

Of the following choices, which would be the easiest brand name to legally protect?

Western County Distributors
Tarzink Yogurt
Scout Camping Supplies
Sullivan Water Filtering Systems
Learn and Grow Daycare
2 points

QUESTION 2

A product mix is best described as

all products offered by a firm.
many products sold by one firm.
a group of closely related products that are considered a unit because of market, technical, or end-use considerations.
product, distribution, promotion, and price.
all products of a particular type.
2 points

QUESTION 3

To make intangible products more tangible or real to the consumer, marketers often

use external reference prices.
use symbols or cues to help symbolize product benefits.
use multiple channels of distribution.
offer more support services with such products.
use low prices on intangible goods.
2 points

QUESTION 4

The Anderson Advertising Agency was developing a name for their client’s new paper towel product. They finally settled on the name, “Soaker.” Regarding the factors that marketers consider when selecting a brand name, which one does this best fulfill?

Keeping the brand name easy to remember
Flexibility to be used in various types of media
Indicating the product’s major benefits
Using fabricated names that cannot be duplicated
Compatibility with other products in the line
2 points

QUESTION 5

Sales usually start to decline during the ____ stage of the product life cycle.

beginning of the decline
end of the growth
beginning of the growth
beginning of the termination
end of the maturity
2 points

QUESTION 6

Which of the following statements about nonprice competition is false?

A firm using nonprice competition can build loyalty to both its company and its products.
When using nonprice competition, a company should promote the distinguishing characteristics of its brand.
Companies that use nonprice competition do not need to keep track of their competitor’s prices.
A company must be able to distinguish its brand through some unique feature in order to successfully engage in nonprice competition.
Buyers must view the distinguishing characteristics of a product offered through nonprice competition as being important.
2 points

QUESTION 7

Price is considered to be the variable in the marketing mix that is

First to be decided.
Least flexible.
Most difficult.
Last to be decided.
Most flexible.
2 points

QUESTION 8

One advantage of nonprice competition is that

a firm can build customer loyalty.
pricing is no longer a factor.
market share becomes less important.
a firm can react quickly to competitive efforts.
marketing efforts are completely eliminated.
2 points

QUESTION 9

Sony management decided to use skimming as a pricing strategy for its newest line of high-definition television (HDTV) sets. It should be aware that this strategy does not

provide flexibility in the introductory base price.
reduce the stress that may be placed on the firm’s production capabilities.
generate capital to cover research and development costs.
protect the firm from covering costs if prices are set too low.
discourage competitors from entering the market.
2 points

QUESTION 10

When a company that produces computer printers prices them somewhat low, but the ink required to operate the printer is priced higher per relative usage, it is using

penetration pricing.
captive pricing.
a price leader.
bait pricing.
price lining.