Semester (Ch 11) Test

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

_____ sells products through both brick-and-mortar stores and online sales.

• 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