MKTG 3131 CH 11 EXAM QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026

MKTG 3131 CH 11 EXAM QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 Lack of profit in the introductory stage of the product life cycle is very often the result of: A) insufficient allocation of resources to the marketing mix. B) poor selection of distribution channels. C) high taxes. D) large investment costs in product development. E) ineffective execution of the marketing program. - Answers D) large investment costs in product development. When Texas Instruments (TI) introduced its pocket calculator it was a tremendous product innovation, and TI set the mail order price at $495. What is the name of the pricing strategy Texas Instruments used? A) rip off B) chiselling C) opportunistic D) skimming E) caveat emptor - Answers D) skimming During the __________ stage, companies will likely not invest in adverting. A) introduction B) growth C) maturity D) decline E) none of the above - Answers D) decline Which of the following is likely to have the longest life cycle? A) ThermalPrene gloves that protect hands from intermittent contact with objects up to 400 degrees F B) a computer program for calculating individual and household income tax C) an SUV D) women's leather sandals E) toys from the latest Disney movie - Answers A) ThermalPrene gloves that protect hands from intermittent contact with objects up to 400 degrees F A ___________ product is usually accompanied by an extended introduction stage of the product life cycle. A) high learning B) low learning C) fashion D) fad E) revolutionary - Answers A) high learning Major car manufacturers are offering buying incentives to newly graduated college students who traditionally have little or no credit. Car manufacturers are using which market modification strategy. A) finding new users B) creating new use situations C) increasing use by existing customers D) modifying the product E) reacting to competitors' position - Answers A) finding new users In 2001, The Girl Guides, a Canadian institution for more than 90 years, realized it was in trouble. "We were the largest invisible girls' organization in Canada," says a spokesperson for the organization's external relations. Which of the following strategies should it use to move itself from its current image of geekiness to an image of fun, friendship, and adventure? A) deletion B) repositioning C) market penetration D) market development E) harvesting - Answers B) repositioning Since the creation of the Hershey candy bar over 100 years ago, the price of chocolate has fluctuated, but the price of the candy bar has slowly risen. In fact, when the price of chocolate had dramatic price fluctuations over a three-year period, the price of a Hershey's candy bar remained the same. When the price of chocolate was very high, Hershey's was able to maintain its profits by making the bars smaller. Hershey's engaged in: A) top-down marketing. B) trading up. C) bottom-up marketing. D) game-playing. E) downsizing. - Answers E) downsizing. Brand equity: A) is defined as the added value a brand name gives to a product beyond the functional benefits provided. B) is closely related to the concept of trading up. C) typically does not provide a competitive advantage for a product. D) typically has no influence on the price consumers are willing to pay for a brand. E) is accurately defined by all of the above. - Answers A) is defined as the added value a brand name gives to a product beyond the functional benefits provided. Imagine the President of Black Stoves, Inc., is thinking about developing a new brand name for the company's line of wood stoves with catalytic converters. The stove because of its design also conserves wood because it burns slowly. The brand name he is considering is The Fast One. Why is this brand name choice NOT the best one? A) The name should be distinctive and memorable. B) The name should fit the company image. C) The name should have no legal restrictions. D) The name should be simple. E) The name should suggest the particular product benefits. - Answers E) The name should suggest the particular product benefits. If both sales and profits are declining for a product, the manufacturer has two strategies to deal with this situation. They are: A) franchising and harvesting B) trading up and deletion C) harvesting and deletion D) licensing and franchising E) trading down and deletion - Answers C) harvesting and deletion Anne and Bob Stevens want to package mixes for bean soups and rice pilaffs to sell at their local farmer's market and to one day sell to a larger market. In selecting the brand name for their mixes, they chose The Bean Counter mixes. In terms of the characteristics of good brand names, this brand name is a: A) poor choice because it is too specific. B) poor choice because it is too simple. C) poor choice because it does not suggest the product benefits. D) good choice because it fits the company image. E) good choice because it can be readily used in global markets. - Answers C) poor choice because it does not suggest the product benefits. In services, pricing plays two major roles. The two roles are to affect consumer perceptions and to: A) be used in capacity management. B) increase the number of service encounters. C) maintain a socially responsible objective. D) determine competitors' reactions proactively. E) eliminate service gaps. - Answers A) be used in capacity management. The marketing objective for a product in the __________ stage of the product life cycle (PLC) is to promote consumer awareness and gain trial. A) introduction B) growth C) maturity D) decline E) product repositioning - Answers A) introduction The marketing objective for a product in the __________ stage of the product life cycle (PLC) is to hold on to market share. A) introduction B) growth C) maturity D) decline E) product repositioning - Answers C) maturity INGenius ATG introduced the microware oven-sized battery recycler in 1999. It was intended for the business market. Companies could buy the recycler and use it to restore alkaline batteries that are not normally recharged. The recycling does not let a battery live forever; but it does give it a charge of about 80 percent of the energy it originally had. Depending on the size of the battery, the recycler can hold up to 96 batteries. It takes 13 hours to recharge any battery. The recycler was introduced at $3,000. When you consider that the R & D to develop this product was quite high, you should suspect that INGenius ATG was using a __________ strategy. A) penetration pricing B) cost-plus pricing C) ROI pricing.