Everything associated with the product, including its symbolism and experiences is the____________.
A) brand name
B) brand mark
C) brand
D) trademark
E) product appeal
Question 2Shania Dolls have become a major competitor of doll companies like Mattel. When the company produces 1,500 dolls, it incurs 6,000 in costs. When it produces 1,501 dolls, the costs go up to 6,004. This 4 difference is an example of
A) marginal cost.
B) fixed cost.
C) average variable cost.
D) total cost.
E) average total cost.
Question 3Which one of the following terms is the best description of what happens in the third stage of the product adoption process?
A) Evaluation
B) Awareness
C) Trial
D) Interest
E) Adoption
Question 4Francine owns her own widget store. She currently does not have enough money to hire anyone else, so she is the only employee. Francine purchased 1,500 widgets for her inventory at 1.50 per widget. In one month, she sold all her widgets for 3.00 each. That month her rent was 700 and utilities were 200. With just this information, Francine's total profit would be ________.
A) 1,250
B) 550
C) 1,350
D) 1,100
E) -500
Question 5An attorney general in Missouri filed a lawsuit against a well-known pharmacy. According to the attorney general, the pharmacy had prices listed on store shelves that were different than the prices charged at the register, resulting in consumers having to pay more. This would most likely be an example of
A) price fixing.
B) price discrimination.
C) predatory pricing.
D) deceptive pricing.
E) price wars.
Question 6In which stage of a product's life cycle is the firm focused on establishing and fortifying the product's market position by encouraging brand loyalty?
A) The maturity stage
B) The introduction stage
C) The decline stage
D) The growth stage
E) The rebirth stage
Question 7When we speak of the number of product lines that a company offers, we are referring to the ____________ of the company's product mix.
A) width
B) depth
C) length
D) size
E) volume
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