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- Situation: You really want to buy the product and yet you do not have enough money to buy that item. Luckily, the price of the item dropped down so you can now buy the product. What is the effect of the markdown to the customer? What might be its effect to the business owner? Would anyone prefer to do the same? Why or why not?If customers perceive that a products price is greater than its value, they won't buy it. Select one A. False. B. TrueSales revenue or profit A Figure 11-1 Stage of the product life cycle B C X Y D Figure 11-1 above represents the stages of the product life cycle. What does the curve labeled X represent?
- When the salesperson "Sami" 4 points tells his customer "Youssef" the following: "Mr. Youssef, we have discussed several benefits that seem especially important to you. First, you agree that this line will be popular with the fashion-conscious shoppers your store caters to. Second, you indicated that the prices I quoted will allow you excellent profit margins, and third, if we process your order now, you will have the merchandise in time for the pre-holiday buying period. With this in mind, let's go ahead and process your order today." Which method Sami is using when closing the sale with his prospect Mr. Youssef? * O Direct Appeal Close Trial Close. Summary-of-Benefits Close Assumptive Close.Value in use pricing does not vary from one product to another. sets a price that will capture some of what customers will save by substituting the firm's product for the one currently being used. Omerely sets the price at what customers expect to pay. sets a rather high price to suggest high quality or high status. is determined by online auctions.WHICH FACTORS INDICATE THE POSSIBLE LOWEST AND THE HIGHEST PRICE THAT CAN BE SET ON A PRODUCT? a. THE NEWNESS OF A PRODUCT AND ITS AVAILABILITY b. FIXED COSTS AND CUSTOMER'S PERCEPTION c. COMPETITORS' PRICES d. THE DEMAND FUNCTION e. NONE OF THESE
- What is value addition?and what is non value addition1) Objectives of packaging should help in product production and transportation. Select one: O True O False 2) Brand Association leads to remember competitor brands. Select one: O True O FalseWhen McDonald's and other fast food restaurants offered "value menu" 3 points items at surprisingly low prices, they were most likely using pricing. * EVERYDAY EXTRA VALUE AT Coca Cola Coca Cola Cost-based pricing Value-added pricing Good-value pricing High-low pricing
- Prototypes usually point out potential problems in a product's ________. * marketing design price colorAll of these statements about price are true except which? Multiple Choice The price must generate enough sales dollars to pay for the cost of developing, producing, and marketing the product. The price for a product or service must earn a profit for the company. Small changes in price can have big effects on both the number of units sold and company profit. For most products and services, there is an agreed-upon price range set by makers. The price must be “right”—in the sense that customers must be willing to pay it.The dispensing of controlled substances has divided patients, doctors, pharmacists and law enforcement agencies as they strive to create a balance between treating legitimate chronic pain and keeping powerful pain meds out of the hands of abusers. A recent convention discussed the development of a viable ______ strategy for pain medications. Group of answer choices production promotion possession place production