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    Quiz 3 - LMS

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    Thư Luyện
    This document contains a 12 question multiple choice quiz on marketing principles. The questions cover topics such as reasons for new product failure, factors that affect pricing decisions, the product life cycle stages, pricing strategies, new product development processes, and characteristics of services. The student whose name is provided answered the multiple choice questions.

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    Quiz 3 - LMS

    Uploaded by

    Thư Luyện
    102 views3 pages
    This document contains a 12 question multiple choice quiz on marketing principles. The questions cover topics such as reasons for new product failure, factors that affect pricing decisions, the product life cycle stages, pricing strategies, new product development processes, and characteristics of services. The student whose name is provided answered the multiple choice questions.

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    principles of marketing quiz

    Original Title

    quiz 3_LMS

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    This document contains a 12 question multiple choice quiz on marketing principles. The questions cover topics such as reasons for new product failure, factors that affect pricing decisions, the product life cycle stages, pricing strategies, new product development processes, and characteristics of services. The student whose name is provided answered the multiple choice questions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    102 views3 pages

    Quiz 3 - LMS

    Uploaded by

    Thư Luyện
    This document contains a 12 question multiple choice quiz on marketing principles. The questions cover topics such as reasons for new product failure, factors that affect pricing decisions, the product life cycle stages, pricing strategies, new product development processes, and characteristics of services. The student whose name is provided answered the multiple choice questions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    QUIZ 3 - Marketing Principles: Multiple Choice Questions

    Name of student:…Luyện Minh Thư


    1. Which of the following statements describes why new products fail?
    A. Since most products today have a longer product life, there is less need for new
    products.
    B. Social and governmental deregulations have made new-product development costs
    more expensive, and therefore, producers avoid new product ventures.
    C. Marketers tend to underestimate market size and market demand, which results in lost
    customers.
    D. New-product development costs are higher than anticipated and competitors respond
    more effectively than predicted.
    E. The underpricing of the product causes customers to overstock and depletes all future
    demand for the product.
    2. Which of the following is NOT the external factor that affects a pricing decision?
    A. Nature of the market and demand
    B. Costs
    C. Economic situation
    D. Competition
    E. Retailers
    3. A product can be .....................
    A. an item
    B. an idea
    C. a location
    D. A and B
    E. all of the above.
    4. During the maturity stage of PLC, profit ......... while sales volume ......................
    A. increases .... slows or declines
    B. declines ..... remains the same
    C. increases .... slows or remains the same
    D. declines .... slows or declines
    5. Which of the following combinations of stages represents the PLC?
    A. Introduction – Growth – Maturity – Decline
    B. Introduction – Maturity - Growth – Decline
    C. Introduction - Decline – Growth – Maturity –
    D. Decline – Introduction – Growth – Maturity
    6. Skimming pricing means .....
    A. setting initial price low and retaining it
    B. setting initial price high, then reducing it gradually
    C. setting initial price high and retaining it
    D. setting initial price low, then increasing it gradually
    7. Which of the following is NOT a good condition to use penetration pricing?
    A. Market is sensitive to price thus low price helps expand market share
    B. Unit costs increase when production increases
    C. Distribution costs decreases when sales volume increases
    D. Low price is not attractive for competitors

    8. When McCormiks Restaurant store offers a 15 percent discount on all purchase to individual
    55 years of age or older, McCormiks is practicing
    A. discriminatory pricing
    B. promotional pricing
    C. psychological pricing
    D. product pricing

    9. ____ may be given the responsibility for new-product development.


    A. A new-product department
    B. A product manager
    C. A new-product manager
    D. A venture team
    E. Any of the above

    10. In terms of new-product development, Pillsbury’s annual Bake-Off contest brings together
    cooks of all ages from all over the U.S. Each one hopes his or her idea for a new recipe will
    win the grand prize. In terms of the new-product development process, the Bake-Off serves as
    _____ for Pillsbury.
    A. idea screening
    B. idea generation
    C. concept development
    D. prototype development
    E. business analysis

    11. The fact that services are used or consumed at the time of their creation is an example of the
    service characteristic of:
    A. intangibility
    B. inseparability
    C. inconsistency
    D. variability
    E. perishability

    12. Perishability is a problem for service providers. One way to deal with this is to:
    A. use a constant pricing strategy
    B. provide a tangible cue through physical setting, communications, or choice of symbols
    C. standardize the service process
    D. eliminate any complementary services so that all workers can be focused on delivering the
    primary service
    E. offer incentives to customers to use the service at non-peak use times

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