Chapter 11 Review - Product, Price, and Place

The elements of products that may be changed to meet customer needs are features, usage, and ____.

• quality

• promotion

• protection

• production

All the goods and services that a business sells is the ____.

• catalog

• web site

• listing

• product mix

____ goods are consumer products that are bought often and with little effort.

• Shopping

• Convenience

• Major

• Specialty

The ____ is an explanation of the value of a certain product over others that are similar.

• value proposition

• catalog

• selling price

• product mix

The amount added to the cost of an item to determine the selling price is ____.

• tax

• profit

• markup

• base price

The practice of ____ sets prices high to convey quality and status.

• even pricing

• price lining

• prestige pricing

• bundling

A ____ is a maximum price set by the government for certain goods and services.

• price floor

• price ceiling

• base price

• break-even point

A(n) ____ includes the businesses, people, and activities involved in turning raw materials into products and delivering them to end users.

• supply chain

• demand chain

• distribution chain

• indirect channel

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

• E-tailers

• Service businesses

• Multichannel retailers

• Drop shippers

The process of separating a large quantity of goods into smaller quantities for resale is ____.

• freight forwarding

• packaging

• distribution

• bulk-breaking