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WorksheetsCh.11 Product, Price, & Place
Total questions: 11
Worksheet time: 6mins
Which of the following is a characteristic of a service?
Can be stored
Can be repeated in exactly the same way
Mass produced
Intangible
Which of the following is an example of a basic category of consumer product?
Convenience good
Process material
Component part
Raw materials
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
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)
Which of the following is an example of a pricing objective?
Minimize cost
Minimize profit
Maximize profit
Minimize the product life cycle
During which stage of the product life cycle are the sales and prices of products stable?
Introduction
Growth
Maturity
Decline
A product starts making profit after reaching the _____.
introduction stage of the product life cycle
break-even point
price ceiling
mass market
The path of selling goods or services directly from a manufacturer to end users without using intermediaries is the _____.
Supply chain
Direct channel
Indirect channel
Pipeline
Which is NOT a basic type of product created by a producer?
Natural resources
Transportation
Agricultural products
Finished goods
What unfair pricing strategy is the practice of advertising one product with the intent of persuading customers to buy a more expensive item when they arrive in the store?
deceptive pricing
price gouging
bait and switch
predatory pricing
When the government intervenes by setting maximum prices for goods, this is known as ____.
price walls
price ceilings
price floors
price gouging
