Business 14 – Flashcards
20 test answers
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Location is very important in the marketing of _________ because consumers desire to purchase these goods with a minimum of shopping effort.
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convenience goods
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Today packaging is:
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very important in promotion
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In marketing today, packaging carries the added responsibility of:
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promotion and sales
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Textbook publishers use a packaging strategy known as __________. Often the publisher will combine highly complementary products such as a new textbook and access code for nine software that students can use to test themselves on new concepts and principles.
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bundling
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A ______________ is a name, symbol, or design that identifies the goods or services of one seller or group of sellers and distinguishes them from those of competitors.
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brand
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A brand that has been given exclusive legal protection, such as the McDonald's golden arches, is a:
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trademark
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Non branded product that sell below the price of national brands, have very basic packaging, and are backed with little or no advertising are called:
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generic goods
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The degree to which customers are satisfied and are committed to future purchases of a desired brand is called:
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brand loyalty
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______ presents an idea for a new product to potential customers to test their reactions.
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concept testing
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Product screening is designed to:
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reduce new-product ideas being worked on at any one time
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The ___________ is a theoretical model that describes the sales and profit performance of a product class over time.
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product life cycle
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The product life cycle consists of ___ stages.
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4
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The stages of the product life cycle are:
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introduction, growth, maturity, and decline
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Pricing is:
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one of the 4 ps
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__________ is the process used to determine the profitability of a product at various levels of sales.
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break-even analysis
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______ costs are those costs that increase as the level of production increases.
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variable
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