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Project 2 Review

Quiz by Jane Nelms

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35 questions
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  • Q1
    Suzanne's Boutique has extended its inventory to include more upscale and even designer merchandise rather than less expensive clothing lines. This is an example of the product-mix stategy known as:
    positioning.
    trading-up.
    trading-down.
    alteration.
    30s
  • Q2
    Which is a characteristic of the second stage of a product's life cycle?
    beginning obsolescence.
    rising sales.
    declining distribution.
    increasing costs.
    30s
  • Q3
    A photographer recently added custom framing services to its product mix. This strategy is called:
    contraction.
    alteration.
    trading up.
    expansion.
    30s
  • Q4
    A producer who chooses to use a short channel of distribution probably
    wants channel control.
    does not have its own sales force.
    wants to share the costs of distribution.
    lacks sufficient funding.
    30s
  • Q5
    By using profit-oriented pricing, a business
    knows what prices will be most profitable.
    is focused on making money.
    can be more competitive.
    is more likely to achieve its profit goals.
    30s
  • Q6
    It is necessary to use channels of distribution in order to complete the sale of products to the ultimate
    retailers.
    consumers.
    wholesalers.
    sales agents.
    30s
  • Q7
    In this stage of a product's life cycle, a company is likely to use promotional campaigns which focus on a product's characteristics in an effort to create demand.
    Decline
    Growth
    Introductory
    Maturity
    30s
  • Q8
    A local entrepreneur with a small, specialized kind of business should stree its _______ to increase chances of success.
    variety of lines and prices.
    merchandise depth over breadth.
    low-turnover items.
    low-profit items.
    30s
  • Q9
    In this stage of the product life cycle, a business is likely to discount its products trying to appeal to a diffferent market segment due to decreases in sales.
    Maturity
    Decline
    Alteration
    Withdrawal
    30s
  • Q10
    Only indirect channels of distribution will involve
    intermediaries.
    industrial consumers.
    producers.
    ultimate consumers.
    30s
  • Q11
    An excess of rain damaged a large part of the wheat production this year. The selling price of wheat has been set at $3.00 more a bushel than last year. Which of the following factors affected the price?
    Competition
    Costs of production
    Product life cycle
    Supply and demand
    30s
  • Q12
    JC Penny's, City Market, Taco Bell, and SuperCuts are all:
    retailers.
    wholesalers.
    agents.
    industrial distributors.
    30s
  • Q13
    The channel of distribution begins with
    the industrial user
    the intermediary
    the producer
    the ultimate consumer
    30s
  • Q14
    One way a business can set up a product line is by:
    Trading up
    Customer group
    Depth
    Width
    30s
  • Q15
    Which of the following is an example of a product line?
    A football
    Bedding, children's toys, electronics
    Wedding dresses, formals and bridesmaid dresses, wedding invitations
    A loaf of bread
    30s

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