
Ch.11 Product, Price, & Place
Authored by Cynthia Perez
Business
12th Grade
Used 4+ times

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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a characteristic of a service?
Can be stored
Can be repeated in exactly the same way
Mass produced
Intangible
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a basic category of consumer product?
Convenience good
Process material
Component part
Raw materials
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a business product category in the business-to-business (B2B) market?
Raw materials
Process materials
Major equipment
Shopping goods
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The price of a good or service must ______.
be lower than what customers are willing to pay
be below any government price floor
cover the cost of producing and selling the product
not be below the manufacturer's suggested retail price (MSRP)
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a pricing objective?
Minimize cost
Minimize profit
Maximize profit
Minimize the product life cycle
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
During which stage of the product life cycle are the sales and prices of products stable?
Introduction
Growth
Maturity
Decline
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A product starts making profit after reaching the _____.
introduction stage of the product life cycle
break-even point
price ceiling
mass market
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