28. Which of the following is an example of product competition? a.A movie theat
ID: 1116200 • Letter: 2
Question
28.Which of the following is an example of product competition?
a.A movie theater and a video rental store
b.A sports drink, a soda, and a bottle of water
c.An amusement park, a Caribbean cruise, and a beach resort
d.Pizza, hamburgers, and deli sandwiches
e.All of the above are considered product competition.
29.Advertisements that demonstrate the superiority of a product based on its lower price per ounce and its superior performance in Consumer Reports are attempting to influence:
a.the behavioral component of consumer attitudes.
b.the affective component of consumer attitudes.
c.the cognitive component of consumer attitudes.
d.the learning component of consumer attitudes.
e.the reinforcement of consumer attitudes.
30.The majority of cotton sold in this country is used to make clothing. When consumers demand less clothing, the cotton market slows down. This is an example of:
a.derived demand.
b.inelastic demand.
c.joint demand.
d.the acceleration principle.
e.elastic demand.
31.The process of dividing a larger market into smaller groups based on one or more meaningful, shared characteristics is called:
market segmentation.
segmentation variables.
market fragmentation.
d.positioning.
e.target marketing.
32.What does the term ‘product positioning’ refer to?
The place a product offering occupies in consumers’ minds on important attributes and relative to competition
A careful analysis of primary data
An old and outdated concept that has been replaced by segmentation
Geographic segmentation, often within major metropolitan areas
Shelf locations in major chain, grocery, and department stores
33.When you purchase a home stereo system, which of the following is part of its augmented product?
The one-year warranty it came with.
The packaging it came in.
The 200 watts per channel amplifier.
The fact that people can hear its mega bass speakers all the way down the block.
The way it fits neatly on the bookshelf in your room.
34.Which of the following is FALSE about the Product Life Cycle (PLC)?
The PLC is a useful way to describe industry changes over the life of an innovation.
During the Introduction stage, profits are slim or non-existent.
During the Growth stage, the product is accepted and sales increase rapidly.
Often the Decline stage is brought on by new technology that makes the existing product obsolete.
Industry profits peak during the Maturity stage of the PLC.
35.When demand is inelastic:
a.price and revenue change in the same direction.
b.revenue decreases when price increases.
c.revenue is unaffected by price changes.
d.quantity demanded increases when price increases
e.the demand curve is more horizontal.
36.The break-even point is the point at which:
a.the total revenue and total cost lines intersect.
b.demand equals supply.
c.the production of one more unit will not increase profit any more.
d.a company should price their product.
e.variable costs per unit begin to decrease.
Explanation / Answer
Answer : 28) b.A sports drink, a soda, and a bottle of water. Because Cooke and PepsiCo are highly competitive brand. All sports drink, soda, bottle of water are made by these companies.
29) e.the reinforcement of consumer attitudes. Because of advertising with lower price people are highly attracted. As a result consumers purchase more the product .
30) e.elastic demand. Because to buy clothes consumer pay a large portion of income. In that case if anywhere consumers see that they can purchase clothes by cheaper rate then will go there.
31) market segmentation. Because by segmentation a large market can be divided into small groups.
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