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WorksheetsChapter 11 Content Review Product, Price, Place
Total questions: 54
Worksheet time: 18mins
Bulk-breaking
The process of separating a large quantity of goods into smaller quantities for resale
When a company sells the same product to different customers at different prices based on personal characteristics
Those that sell products through both brick-and-mortar stores and online sites
All the goods and services that a business sells
Quality
An indicator of a product's excellence
The specific model, color, or size of products in a line
The price recommended by the manufacturer
The path of selling goods or services directly from a manufacturer to end users without using intermediaries
Value Quality
An adequate level of product quality, typically functional but not made to last long
A feature that can be added to a product by customer request
Facts about a good or service
Anything that can be bought or sold to satisfy customer needs
Option
A feature that can be added to a product by customer request
The actual price a customer pays for a product after any discounts or coupons are deducted
A group of closely related products within the product mix
The number of product lines a company offers
Product Line
A group of closely related products within the product mix
The physical movement of products through the channel of distribution
The specific model, color, or size of products in a line
The amount added to the cost to determine the selling price
Direct Channel
The path of selling goods or services directly from a manufacturer to end users without using intermediaries
The physical movement of products through the channel of distribution
The process of separating a large quantity of goods into smaller quantities for resale
A business that sells directly to consumers in ways that do not involve a physical store location
Supply Chain
The businesses, people, and activities involved in turning raw materials into products and delivering them to end users
Provides labor based on specialized knowledge and skills
The number of product items within a product line
The illegal pricing of products in a way that intentionally misleads customers
Technical Support
The people and resources available to help customers with any usage problems
The specific model, color, or size of products in a line
Minimum prices set by the government for certain goods and services
Pricing an item much lower than the current market price or the cost of acquiring the product
Trade Industry
Provides labor based on specialized knowledge and skills
The point at which revenue from sales equals the costs
Maximum prices set by the government for certain goods and services
A physical item that can be touched
Transportation
The physical movement of products through the channel of distribution
A feature that can be added to a product by customer request
The point at which revenue from sales equals the costs
A business that sells directly to consumers in ways that do not involve a physical store location
Freight Forwarder
A company that organizes shipments
The path of selling goods or services directly from a manufacturer to end users without using intermediaries
Uses intermediaries to get the product from the manufacturer to the end users
The specific model, color, or size of products in a line
MSRP
The price recommended by the manufacturer
Maximum prices set by the government for certain goods and services
The process of deciding which products will appeal to the target market
The number of product lines a company offers
Markup
The amount added to the cost to determine the selling price
The physical movement of products through the channel of distribution
The point at which revenue from sales equals the costs
An action or task that is performed for a fee
Price Floor
Minimum prices set by the government for certain goods and services
The act or process of putting a good in a certain place and getting it ready for use
Those that sell products through both brick-and-mortar stores and online sites
Pricing an item much lower than the current market price or the cost of acquiring the product
Inseparable
Cannot be separated from the person who performs it
A line of connected pipes that are used for carrying liquids and gases over a long distance
The illegal pricing of products in a way that intentionally misleads customers
A feature that can be added to a product by customer request
Pipeline
A line of connected pipes that are used for carrying liquids and gases over a long distance
Cannot be touched
The act or process of putting a good in a certain place and getting it ready for use
When a company sells the same product to different customers at different prices based on personal characteristics
Packaging
Protects products until customers are ready to use them
When a company sells the same product to different customers at different prices based on personal characteristics
A written document that states the quality of a product with a promise to correct certain problems
The middle range of product quality combining good-quality materials with moderate prices
Warranty
A written document that states the quality of a product with a promise to correct certain problems
The process of deciding which products will appeal to the target market
The practice of setting very low prices to remove competition
The number of product lines a company offers
Channel of Distribution
The path that goods take through the supply chain
When a group of competitors get together and set the price for a specific product
A written document that states the quality of a product with a promise to correct certain problems
Steps that must be carried out in a specific order to successfully complete a task
Retailer
A business that buys products from wholesalers or directly from producers, and sells them to consumers to make a profit
The number of product items within a product line
Steps that must be carried out in a specific order to successfully complete a task
The raising of prices on certain kinds of goods to an excessively high level during an emergency
Variable
Each service is almost always unique
Steps that must be carried out in a specific order to successfully complete a task
The people and resources available to help customers with any usage problems
The raising of prices on certain kinds of goods to an excessively high level during an emergency
Price Ceiling
Maximum prices set by the government for certain goods and services
An explanation of the value of a certain product over others that are similar
The act or process of putting a good in a certain place and getting it ready for use
The point at which revenue from sales equals the costs
Indirect Channel
Uses intermediaries to get the product from the manufacturer to the end users
An indicator of a product's excellence
A promise that a product has a certain quality or will perform in a specific way
The specific model, color, or size of products in a line
Product Planning
The process of deciding which products will appeal to the target market
A business that buys products from wholesalers or directly from producers, and sells them to consumers to make a profit
When a group of competitors get together and set the price for a specific product
Minimum prices set by the government for certain goods and services
Nonstore Retailer
A business that sells directly to consumers in ways that do not involve a physical store location
The physical movement of products through the channel of distribution
The people and resources available to help customers with any usage problems
An adequate level of product quality, typically functional but not made to last long
Product Depth
The number of product items within a product line
The raising of prices on certain kinds of goods to an excessively high level during an emergency
The path that goods take through the supply chain
The specific model, color, or size of products in a line
E-tailer
Retailers that sell products through websites
When a group of competitors get together and set the price for a specific product
Steps that must be carried out in a specific order to successfully complete a task
A business that buys products from wholesalers or directly from producers, and sells them to consumers to make a profit
Multi-channel
Those that sell products through both brick-and-mortar stores and online sites
Steps that must be carried out in a specific order to successfully complete a task
A promise that a product has a certain quality or will perform in a specific way
The number of product items within a product line
Guarantee
A promise that a product has a certain quality or will perform in a specific way
The path of selling goods or services directly from a manufacturer to end users without using intermediaries
The people and resources available to help customers with any usage problems
A feature that can be added to a product by customer request
List Price
The established price printed in a catalog, on a price tag, or on a price list
A physical item that can be touched
The general price at which the company expects to sell the product
The businesses, people, and activities involved in turning raw materials into products and delivering them to end users
Value Proposition
An explanation of the value of a certain product over others that are similar
The specific model, color, or size of products in a line
A written document that states the quality of a product with a promise to correct certain problems
The physical movement of products through the channel of distribution
Predatory Pricing
The practice of setting very low prices to remove competition
Those that sell products through both brick-and-mortar stores and online sites
The actual price a customer pays for a product after any discounts or coupons are deducted
When a company sells the same product to different customers at different prices based on personal characteristics
Product Mix
All the goods and services that a business sells
The established price printed in a catalog, on a price tag, or on a price list
The point at which revenue from sales equals the costs
A group of closely related products within the product mix
Selling Price
The actual price a customer pays for a product after any discounts or coupons are deducted
An indicator of a product's excellence
A business that buys products from wholesalers or directly from producers, and sells them to consumers to make a profit
The practice of setting very low prices to remove competition
Base Price
The general price at which the company expects to sell the product
Cannot be separated from the person who performs it
Anything that can be bought or sold to satisfy customer needs
An explanation of the value of a certain product over others that are similar
Loss Leader
Pricing an item much lower than the current market price or the cost of acquiring the product
The specific model, color, or size of products in a line
Cannot be separated from the person who performs it
Protects products until customers are ready to use them
Feature
Facts about a good or service
The path that goods take through the supply chain
Anything that can be bought or sold to satisfy customer needs
The point at which revenue from sales equals the costs
Product Width
The number of product lines a company offers
A physical item that can be touched
Each service is almost always unique
Pricing an item much lower than the current market price or the cost of acquiring the product
Service
An action or task that is performed for a fee
An indicator of a product's excellence
All the goods and services that a business sells
The middle range of product quality combining good-quality materials with moderate prices
Product
Anything that can be bought or sold to satisfy customer needs
An indicator of a product's excellence
A group of closely related products within the product mix
A written document that states the quality of a product with a promise to correct certain problems
Deceptive Pricing
The illegal pricing of products in a way that intentionally misleads customers
A business that buys products from wholesalers or directly from producers, and sells them to consumers to make a profit
Services cannot be stored for later use
A physical item that can be touched
Installation
The act or process of putting a good in a certain place and getting it ready for use
A physical item that can be touched
A line of connected pipes that are used for carrying liquids and gases over a long distance
The price recommended by the manufacturer
Break-even Point
The point at which revenue from sales equals the costs
A business that buys products from wholesalers or directly from producers, and sells them to consumers to make a profit
The people and resources available to help customers with any usage problems
A written document that states the quality of a product with a promise to correct certain problems
Bait and Switch
The practice of advertising one product with the intent of persuading customers to buy a more expensive item
The businesses, people, and activities involved in turning raw materials into products and delivering them to end users
The act or process of putting a good in a certain place and getting it ready for use
Minimum prices set by the government for certain goods and services
Price Gouging
The raising of prices on certain kinds of goods to an excessively high level during an emergency
An explanation of the value of a certain product over others that are similar
The practice of advertising one product with the intent of persuading customers to buy a more expensive item
A physical item that can be touched
Premium Quality
The highest level of quality available in products
An indicator of a product's excellence
The established price printed in a catalog, on a price tag, or on a price list
The path of selling goods or services directly from a manufacturer to end users without using intermediaries
Good
A physical item that can be touched
The process of deciding which products will appeal to the target market
The path of selling goods or services directly from a manufacturer to end users without using intermediaries
The path that goods take through the supply chain
Perishable
Services cannot be stored for later use
The amount added to the cost to determine the selling price
A line of connected pipes that are used for carrying liquids and gases over a long distance
A business that buys products from wholesalers or directly from producers, and sells them to consumers to make a profit
Moderate Quality
The middle range of product quality combining good-quality materials with moderate prices
An action or task that is performed for a fee
An indicator of a product's excellence
Anything that can be bought or sold to satisfy customer needs
Price Discrimination
When a company sells the same product to different customers at different prices based on personal characteristics
Facts about a good or service
A business that buys products from wholesalers or directly from producers, and sells them to consumers to make a profit
A physical item that can be touched
