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WorksheetsPBMF Ch 11 Review
Total questions: 40
Worksheet time: 31mins
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
Practice of advertising one product with the intent of persuading customers to buy a more expensive item when they arrive in the store.
bait & switch
price discrimination
deceptive pricing
predatory pricing
General price at which the company expects to sell a product.
list price
base price
deceptive pricing
selling price
Path that goods take through the supply chain.
freight forwarder
loss leader
channel of distribution
bulk-breaking
Fact about a product or service.
markup
intangible
guarantee
feature
Pricing products in a way to intentionally mislead a customer.
deceptive pricing
psychological pricing
MSRP
base pricing
Process of separating a large quantity of goods into smaller quantities for resale.
freight forwarder
distribution
bulk-breaking
bait-and-switch
Promise that a product has a certain quality or will perform in a specific way.
guarantee
warranty
maintenance
protection
Company that organizes shipments.
freight forwarder
bulk-breaking
agent
service
Path of selling goods or services directly from manufacturer to end users.
direct channel
indirect channel
freight forwarder
MSRP
Established price printed in a catalog, on a price tag, in a price list.
selling price
manufacturer's suggested retail price
list price
price floor
Retailer that sells products through websites.
multi-channel retailer
E-tailer
retailer
wholesaler
Something that cannot be touched.
tangible
intangible
Pricing an item much lower than the current market price or the cost of acquiring the product.
price gouging
predatory pricing
loss leader
discount
Amount added to the cost to determine the selling price.
markup
markdown
discount
base price
Path of selling goods or services that uses intermediaries to get the product from manufacturer to end users.
direct channel
packaging
product planning
indirect channel
The (a) is the price recommended by the manufacturer.
A (a) is a retailer that sells products through both brick-and-morter stores and online sites.
Which mode of transportation is a line of connected pipes that are used for carrying liquids and gasses over a long distance.
pipeline
road
water
rail
The practice of setting very low prices to remove competition is called (a) .
(a) protects products until customers are ready to use them.
The practice of raising prices on certain goods to an excessively high level during an emergency is called (a) .
A (a) is a minimum price set by the government for certain goods and services.
(a) is the process of deciding which products will appeal to the target market.
Product (a) is the number of product items within a product line.
Pricing techniques that create an image of a product and entice customers to buy are _____ strategies.
psychological pricing
economic condition
supply chain
quality
Match the 3 levels of quality to their correct definition.
Highest level of quality available; usually highest prices
Premium Quality
Usually combine good-quality materials with moderate prices.
Moderate Quality
Typically functional, but not made to last a long time.
Value Quality
A product (a) is a group of closely related products within the product mix.
Services are intangible, inseparable, (a) , and perishable.
Actual price customers pay for a product after any discounts or coupons are deducted is the (a) price.
A _____ provides labor based on specialized knowledge and skills.
retailer
freight forwarder
trade industry
producer
