PBMF Ch 11 Review

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

• quality

• promotion

• protection

• production

All the goods & services that a business sells is the _____.

• catalog

• website

• listing

• product mix

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

• Shopping

• Convenience

• Major

• Speciality

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 price 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 & 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-morter stores and online stores.

• E-tailers

• Service businesses

• Multi-channel retailers

• Drop shippers

The process of separating a large quantity of goods into smaller quantities for resail is _____.

• freight forwarding

• packaging

• distribution

• bulk-breaking