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Exam III Review | Principles of Marketing Flashcards | StudBud
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Exam III Review | Principles of Marketing
Exam III Review | Principles of Marketing
22 terms
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StudBud Administration
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Test your knowledge on marketing concepts and strategies with this engaging quiz
Flashcards
22 cards
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Questions
22
Answers
1
Which is a new product pricing strategy?
Improvement
Skimming
Value-based
Cost-based
2
True or False: Services are perishable.
True
False
3
True or False: Brainstorming rejects ideas immediately.
False
True
4
True or False: Services can be stored.
True
False
5
In a _____ pricing strategy, consumers are not price-sensitive and are willing to pay a higher price for a new item.
high/low
EDLP
competition-based
price skimming
6
What stage follows concept testing?
Market testing
Product launch
Product development
Idea generation
7
Prototypes are generally built at what life cycle stage?
product development
growth
concept testing
ideation
8
True or False: Price generates revenue.
False
True
9
What are types of products that consumers either don't usually think of buying or don't know about?
speciality products
convenience products
unsought products
augmented products
10
True or False: Services are intangible.
True
False
11
Which stage increases product variations?
Maturity
Launch
Decline
Growth
12
What is price elasticity of demand?
Demand measure
Price change
Market strategy
Cost analysis
13
Which lifecycle stage focuses on niches?
Maturity
Introduction
Growth
Decline
14
Which is a product life cycle stage?
late majority
laggards
innovation
decline
15
True or False: Product mix is brand-only.
False
True
16
What is a brand extension?
New logo
New slogan
Different line
Same product
17
Which stage has the highest competition?
Decline
Maturity
Introduction
Growth
18
Which pricing strategy targets market share?
Bundling
Skimming
Premium
Penetration
19
True or False: EDLP reduces search costs.
True
False
20
What does a demand curve show?
Profit metrics
Price and demand
Costs relation
Market trends
21
True or False: Price skimming targets innovators.
False
True
22
What defines a product line?
Marketing mix
Brand name
Associated items
Service type
