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Chapter 14 - Developing and Pricing Goods and Services
338. Which of the following statements about non-price competition is most accurate?
A. While still important, non-price competition is becoming less critical as a result of the
Internet.
B. Marketers often rely on non-price differences in their competitive strategy to enhance a
relatively homogeneous product.
C. Non-price competition is much more important to large firms than it is to small firms.
D. As microeconomic theory suggests, firms have found that non-price competition plays
a secondary role that supplements the more important competition based on price.
Feedback: The idea of non-price competition is to enhance a relatively homogeneous product.
339. Virtual Electronics is considering a strategy to charge a very high introductory price
for their automobile video theater. After identifying that their rival firms did not carry this
new product, they chose this pricing strategy to achieve maximum profits. Virtual
Electronics has chosen a ________ strategy.
A. high-low pricing
B. penetration
C. bundling
D. skimming
Feedback: A skimming price strategy is one where the product is priced high to make
optimum profit while there is little competition.
14-120
350. From a marketing management perspective, what is the meaning of a total product
offer? What are the important elements in the total product offer of your college or
university?
14-123
354. The company currently markets McDog T-bone, Lapdog Lunchtreats, Rover's
Potroast, and Puppy Porterhouse in the dog food market. Prime Cuts will be an addition to
the company's ___________ in the dog food market.
A. product mix
B. product line
C. product time
D. product screen
Feedback: The product line is a group of products that are physically similar or are intended
for a similar market.
