Chapter 11 Test

A product mix is the number of product lines a company offers.

• True

• False

A supply chain is the businesses, people, and activities involved in manufacturing products and delivering them to end users.

• True

• False

The _________ price is the actual price a customer pays for a product.

• list

• manufacturer's suggested retail

• selling

• markup

Services are intangible, inseparable, _________, and perishable.

• physical

• variable

• packaged

• convenient

What is psychological pricing?

• Point at which revenue from sales equals the costs.

• Discount pricing strategy used in the B2B market.

• The overall pricing of a company.

• Pricing technique that creates an image of a product.

The point at which the revenue from a business’s sales equals the costs of business is called _________.

• cost recovery

• making money

• break-even point

• profitability

_________ indicates the excellence of a product.

• A feature

• Quality

• Selling price

• A guarantee

The _________ price is the actual price that a customer pays for a product after any discounts or coupons are deducted.

• selling

• listed

• market

• base

The businesses, people, and activities involved in turning raw materials into products and delivering them to end users are known as _________.

• supply chain

• distribution chain

• indirect channel

• demand chain

_________ retailers sell products through both brick-and-mortar stores and online sites.

• E-tail

• Indirect

• Catalog

• Multi-channel