BADM 320 Final || All Solved Correctly.
Which part of the product life cycle is noted for having the lowest prices for consumers? correct
answers Decline
How do firms come up with ideas for new products correct answers Looking at competitors
products
Old Farmer Wolters grows and sells potatoes to Wendy's fast food Restaurant, who then uses the
potatoes to make French Fries and sells these French Fries to customers. Suppose that Old
Farmer Wolters and Wendy's work together on controlling the price of the French Fries (to be
passed onto the customers), this pricing practice would be correct answers vertical price fixing,
and illegal
Why do firms create new products? correct answers All of the above
(to respond to customer needs, to respond to fashion cycles, to manage risk through diversity)
In order to attract customers Gold's Gym (a fitness studio) offers one month free membership for
first time users. Planet fitness is using the free trial to overcome which area that products and
services differ? correct answers Inseparable
The marketing of services such as accounting and financial services differ from product
marketing because services are: correct answers intangible, inseparable, variable, and perishable
Which of the following is not one of the 4 P's of Marketing? correct answers Propaganda
The differences between what customers expect and what companies think their customers
expect is the definition of which Gap in the Gap Model? correct answers Knowledge gap
Wendy's Restaurant and Burger King Restaurants waited to see if McDonald's Dollar Value
Menu would be a success before they started their own. This is an example of what? correct
answers a second mover advantage
The Supply Chain is linked to which of the P's of marketing? correct answers Place
The most important job of advertising is? correct answers Persuading customers to buy a product
or service
Which of the following is one of the 5 C's of Pricing? correct answers All of the above are
(Customers, Company Objectives, Competition)
General Mills advertises their "Christmas Crunch" brand of breakfast cereal only during the late
fall and early winter leading up to Christmas. This is an example of what kind of schedule
advertising? correct answers Flighting
Which part of the product life cycle is noted for having the lowest prices for consumers? correct
answers Decline
How do firms come up with ideas for new products correct answers Looking at competitors
products
Old Farmer Wolters grows and sells potatoes to Wendy's fast food Restaurant, who then uses the
potatoes to make French Fries and sells these French Fries to customers. Suppose that Old
Farmer Wolters and Wendy's work together on controlling the price of the French Fries (to be
passed onto the customers), this pricing practice would be correct answers vertical price fixing,
and illegal
Why do firms create new products? correct answers All of the above
(to respond to customer needs, to respond to fashion cycles, to manage risk through diversity)
In order to attract customers Gold's Gym (a fitness studio) offers one month free membership for
first time users. Planet fitness is using the free trial to overcome which area that products and
services differ? correct answers Inseparable
The marketing of services such as accounting and financial services differ from product
marketing because services are: correct answers intangible, inseparable, variable, and perishable
Which of the following is not one of the 4 P's of Marketing? correct answers Propaganda
The differences between what customers expect and what companies think their customers
expect is the definition of which Gap in the Gap Model? correct answers Knowledge gap
Wendy's Restaurant and Burger King Restaurants waited to see if McDonald's Dollar Value
Menu would be a success before they started their own. This is an example of what? correct
answers a second mover advantage
The Supply Chain is linked to which of the P's of marketing? correct answers Place
The most important job of advertising is? correct answers Persuading customers to buy a product
or service
Which of the following is one of the 5 C's of Pricing? correct answers All of the above are
(Customers, Company Objectives, Competition)
General Mills advertises their "Christmas Crunch" brand of breakfast cereal only during the late
fall and early winter leading up to Christmas. This is an example of what kind of schedule
advertising? correct answers Flighting
