Fa 23 mkt 101 chapters 8 11 quiz

08:58 18/10/2023

FA 23 - MKT 101 - Chapters 8-11 Quiz

FA 23 - MKT 101 - Chapters 8-11 Quiz 

1. Your Name *
Phạm Thanh Thảo

2. Your Student ID *
HS180855

3. 9. ________ is an important element in the marketing mix. It is the only
element that does not represent costs. (1 Điểm) *
A) Profit maximization
B) Market share leadership
C) Price
D) Product quality leadership
E) The target market

4. ________ uses buyers' perceptions of what a product is worth, not the
seller's cost, as the key to pricing. (1 Điểm) *
A) Cost-based pricing
B) Variable cost

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FA 23 - MKT 101 - Chapters 8-11 Quiz

C) Price elasticity
D) Product image
E) Customer value-based pricing

5. 5. Which of the following is NOT a challenge presented by the product life
cycle that a firm must face? (1 Điểm) *
A) All products eventually decline.
B) Changing tastes, technologies, and competition affect the marketing of the product
as it passes through life-cycle stages.
C) A firm must be good at developing new products to replace aging ones.
D) A firm must be good at adapting its marketing strategies.
E) It is difficult to plot the stages as a product goes through them.

6. 12. A firm is using ________ when it charges a high, premium price for a new
product with the intention of reducing the price in the future. (1 Điểm) *
A) price skimming
B) trial pricing
C) value pricing
D) market-penetration pricing
E) prestige pricing

7. 15. ________ pricing is the approach of setting a low initial price in order to
attract a large number of buyers quickly and win a large market share.
(1 Điểm) *

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FA 23 - MKT 101 - Chapters 8-11 Quiz

A) Market-skimming
B) Market-penetration
C) Below-market
D) Value-based
E) Leader

8. ________ are products and services bought by final consumers for personal
consumption. These include convenience products, shopping products,
specialty products, and unsought products. (1 Điểm) *
A) Services
B) Consumer products
C) Line extensions
D) Industrial products
E) Straight extensions

9. 13. A marketer must be familiar with the five major product mix pricing
situations. Which of the following is NOT one of them? (1 Điểm) *
A) product line pricing
B) optional product pricing
C) captive product pricing
D) unbundled product pricing
E) by-product pricing

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FA 23 - MKT 101 - Chapters 8-11 Quiz

10. A challenge for management in product line pricing is to decide on the
price steps between the ________. (1 Điểm) *
A) various products in a line
B) product mixes
C) product groupings
D) product lines
E) channel partners

11.  Which of the following is NOT a recommended method for companies to
tap into their customers as sources for new-product ideas? (1 Điểm) *
A) analyzing customer complaints and questions
B) relying heavily on customers to know what types of technical products they need
C) working alongside customers to get ideas and suggestions
D) turning customers into cocreators
E) putting customer-created products on the market

12. 6. Product improvements, product modifications, and original products
can all be classified as ________. (1 Điểm) *
A) pioneer products
B) new products
C) product strategies
D) product extensions

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FA 23 - MKT 101 - Chapters 8-11 Quiz

E) test products

13. A company sets not a single price, but rather a ________ that covers
different items in its line that change over time as products move through
their life cycles. (1 Điểm) *
A) pricing by-product
B) pricing structure
C) pricing loop
D) pricing cycle
E) pricing bundle

14. 1. We define a ________ as anything that can be offered to a market for
attention, acquisition, use, or consumption and that might satisfy a want
or need. (1 Điểm) *
A) private brand
B) service variability
C) service
D) product
E) service encounter

15. Of the following, which statement(s) would NOT support a marketskimming policy for a new product? (1 Điểm) *
A) The product's quality and image support its higher price.
B) Enough buyers want the products at that price.

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FA 23 - MKT 101 - Chapters 8-11 Quiz

C) Competitors are not able to undercut the high price.
D) Competitors can enter the market easily.
E) C and D

16. 8. Executives, manufacturing employees, and the company's salespeople
are all examples of ________. (1 Điểm) *
A) external sources for new-product ideas
B) internal sources for new-product ideas
C) core members of innovation management systems
D) research and development team members
E) test marketers

17. 7. Your firm added three new products earlier this year to increase variety
for customers. Two of them failed to reach even minimal sales. Which of
the following is LEAST likely to have been the cause of their failure?
(1 Điểm) *
A) The products were priced too high.
B) The products were advertised incorrectly.
C) Competitors fought back harder than expected.
D) Research was too extensive.
E) The product launch was ill-timed.

18. 10. Product costs set a(n) ________ to a product's price.
(1 Điểm) *

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FA 23 - MKT 101 - Chapters 8-11 Quiz

A) demand curve
B) floor
C) ceiling
D) break-even cost
E) experience curve

19. 11. With ________, price is set to match consumers' perceptions of product
value.
(1 Điểm) *
A) variable cost pricing
B) cost-plus pricing
C) cost-based pricing
D) value-based pricing
E) everyday low pricing

20. Your firm asks you to consult external sources for new-product ideas. All
of the following are common external sources EXCEPT ________. (1 Điểm) *
A) customers

B) suppliers
C) competitors
D) trade shows and magazines
E) the firm's executives

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FA 23 - MKT 101 - Chapters 8-11 Quiz

21. 4. ________ are less frequently purchased consumer products and services
that customers compare carefully on suitability, quality, price, and style.
Consumers spend much time and effort in gathering information and
making comparisons about these products.
(1 Điểm) *
A) Shopping products
B) Convenience products
C) Unsought products
D) Industrial products
E) Line extensions

22. 2. Product planners need to consider products and services on three levels.
Each level adds more customer value. The most basic level is the ________,
which addresses the question, "What is the buyer really buying?"
(1 Điểm) *
A) actual product
B) augmented product

C) core customer value
D) co-branding
E) exchange

23. Value-based pricing is the reverse process of ________.
(1 Điểm) *
A) variable cost pricing
B) cost-plus pricing

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FA 23 - MKT 101 - Chapters 8-11 Quiz

C) cost-based pricing
D) good-value pricing
E) value-added pricing

24. ________ are consumer products and services with unique characteristics or
brand identification for which a significant group of buyers is willing to
make a special purchase effort. (1 Điểm) *
A) Shopping products
B) Unsought products
C) Specialty products
D) Industrial products
E) Line extensions

25. Products and services fall into TWO broad classifications based on the
types of consumers that use them. Which is one of these broad classes?
(1 Điểm) *
A) industrial products
B) specialty products
C) supplies and services
D) materials and parts
E) convenience products

26. New-product development starts with ________.
(1 Điểm) *

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FA 23 - MKT 101 - Chapters 8-11 Quiz

A) idea generation
B) idea screening
C) concept development
D) concept testing
E) test marketing

27. 14. Which of the following is a reason that a marketer would choose a
penetration pricing strategy? (1 Điểm) *
A) to ensure the company has the ability to increase prices once demand decreases
B) to focus on the rapid achievement of profit objectives

C) to appeal to different consumer segments with different levels of price sensitivity
D) to create markets for highly technical products
E) to discourage competition from entering the market

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