What is price in Marketing?

is the amount of money charged for a product or service

What are the two ways that a company can obtain new products?

New-product development and acquisition.

A good brand name should:

Be distinctive and easy to remember

Executives, manufacturing employees, and salespeople are all examples of

Internal sources for new-product ideas

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IBSIMSCLASS 2020

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Questions 20

Answers

1
New product development starts with ....................
Idea generation
Concept testing
Concept development
Idea screening
2
A ……………………. is unpredictable, short-lived, and without social, economic, and political significance.
Trend
Style
Fashion
Fad
3
New product development starts with:
concept testing
idea generation
idea screening
concept development
4
_______marketing is more suited for uniform products such as grapefruits or steel
Niche Marketing
Micro marketing
Segmented marketing
Undefferentiated marketing
5
Which of the following is not an element of a firm's marketing mix?
Product
People
Place of delivery
Price
6
Companies usually develop ________ rather than single products?
Product families
Product groupings
Product lines
Product brands
7
________ are consumer products with a unique characteristics or brand identification
Unsought products
Specialty products
Shopping products
Industrial products
8
Economic communities are also known as
Free customs area
Free schengen area
Free trade zones
Free logistic and tranportation
9
A good brand name should:
be distinctive
relate to technology
include the company's name
Sound like natural phenomenon
10
Which of the following was designated to foster trade between nationsn?
WTO
EU
NAFTA
GATT
11
Product improvements, product modifications, and original products can all be classified as____________
New products
Product ideas
Product concepts
Pioneer products
12
Which of the following is NOT a potential reason for a new product to fail?
A poorly designed product
An underestimated market size
An incorrectly positioned product.
Higher than anticipated costs of product development.
13
What is price in Marketing?
is the amount of money charged for a product or service
Satisfying consumer demand
The only marketing mix satisfy consumer want and need
Price is use to demand value
14
___ pricing is the approach of setting a low price to attract a large number of buyers quickly and win market share
Market-skimming price
value base price
Penetration price
Below-market price
15
What are the two ways that a company can obtain new products?
New-product development and acquisition.
Line extension and brand management.
Internal development and brand management
Internal development and brand management.
16
In marketing theory, P.L.C. stands for:
Price list classification
Production life cycle
Product life cycle
Promotional life cycle
17
A good brand name should:
Sound like an animal or natural phenomenon
Relate to the latest technology
Be distinctive and easy to remember
Include the company’s name
18
Executives, manufacturing employees, and salespeople are all examples of
Internal sources for new-product ideas
Research and development team members.
Core members of innovation management systems
External sources for new-product ideas.
19
The third level of a product that product planners must consider is a(n)
Brand equity
Core product
Augmented product
Actual product
20
What is the meaning of BOGOF in Pricing
Using marketing mix
standardization and adaptation price
Buy One Get One Free
Valued added price

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