Comparison Shopping & Negotiating Price

What is a durable good?

• A) A product that needs to be purchased frequently.

• B) A tangible product with an average life of at least three years.

• C) A service that is intangible.

• D) A product with a lifespan of less than a year.

What are nondurable goods?

• Goods that are consumed or used up quickly and need to be purchased frequently, such as food and clothing.

• Goods that are used over a long period of time, such as appliances and vehicles.

• Goods that are intangible and cannot be touched, such as services.

• Goods that are used for investment purposes, such as stocks and bonds.

A 12 pack of AA alkaline batteries costs $7.44. What is the unit price per battery?

• $0.62

• $1.60

• $1.80

• $1.70

How can convenience be a factor in product placement?

• Convenience can influence product placement by making products more accessible to consumers.

• Convenience has no impact on product placement.

• Convenience only affects online product placement.

• Convenience is irrelevant in product placement.

What is a fixed price?

• A price that can be negotiated

• A non-negotiable price for a product or service

• A price that changes frequently

• A price that is always discounted.

Fill in the blank: A negotiable price is a price of a product or service that is not firmly established and can be subject to _______.

• change.

• increase.

• decrease.

• negotiation.

It is important to come prepared with research when negotiating because:

• it helps in understanding the other party's needs and interests.

• it shows a lack of confidence.

• it is a waste of time.

• it makes the negotiation process longer.

The cost of a single unit of product or service?

• unit price

• product placement

• research

• product durability

Which of the following is the best deal?

• 5 pound bag of rice for $10

• 10 pound bag of rice for $18

• 2 pound bag of rice for $5

• 20 pound bag of rice for $40

A car is an example of a ___________.

• durable good

• non-durable good

• product feature

• negotiation tactic