To maintain market share and revenue in an increasingly price-sensitive market, companies have focused on quality, used labor-saving technologies, and used efficient manufacturing processes. These tactics have provided gains in productivity that have translated into ____ for the consumer.
A) higher costs for the company and higher prices
B) higher costs for the company and lower prices
C) lower costs for the company and lower prices
D) lower costs for the company and higher prices
E) no change in the costs for either the company or
Question 2A package of aluminum foil at Kroger supermarket has only a white package with black letters stating aluminum foil. This product is an example of a ____ brand.
A) manufacturer's
B) private distributor's
C) no-name
D) generic
E) no-frills
Question 3In the long run, the J.M. Smucker Company must view ____ as the absolute lowest price for its Jif brand peanut butter.
A) a 10 return on investment
B) product development costs
C) total costs
D) advertising expenditures
E) Nestl's prices
Question 4A product that is simply labeled with the product category is considered a
A) private brand.
B) no-name product.
C) generic brand.
D) poor-quality item.
E) lean manufacturer brand.
Question 5Marketers generally view ____ as the minimum price a product can be sold for.
A) fixed costs
B) variable costs
C) profits
D) costs
E) moderate losses
Question 6Many manufacturers that produce their own brand
A) also produce generic versions of their products.
B) sell only to outlets bearing their brand name.
C) receive most of their profits from service work.
D) use low prices to build their perceived brand quality.
E) also produce products for private distributor brands.
Question 7Duds and Suds is a bar with a country and western atmosphere. In addition to the bar, Duds and Suds has a gift shop that sells western clothing with its logo. Norman is the owner of the business and has recently enacted temporary price reductions through clearance sales, discounts, and nightly drink specials. What is Norman most likely trying to do?
A) Raise cash quickly
B) Decrease costs
C) Increase profitability
D) Run off the competition
E) Create a value image
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