The demand for many business goods tends to change more slowly than the demand for consumer goods.

• A) True
• B) False
• C)
• D)

Most businesses that manufacture products for the consumer market also sell directly to consumers.

• A) True
• B) False
• C)
• D)

At this point, your company wants to move away from mass marketing and engage in target marketing. The three steps to take, in order, are market segmentation, marketing positioning, and target marketing.

• A) True
• B) False
• C)
• D)

Research and planning for loyalty status as a segmentation approach is generally not useful or practical for most firms.

• A) True
• B) False
• C)
• D)

The buying decision process and buying center are influenced by Interpersonal factors.

• A) False
• B) True
• C)
• D)

In the performance review stage, the seller or the buyer may modify, continue, or cancel the business arrangement.

• A) False
• B) True
• C)
• D)

Decision of a single participant is enough in the business buying process.

• A) True
• B) False
• C)
• D)

The newer the buying task, and the more complex and costly the item, the lesser the amount of time the buyer will spend searching for suppliers.

• A) False
• B) True
• C)
• D)

Co-branding is a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. Examples are banking, hotel, airline, retail, tax preparation, and home repair.

• A) False
• B) True
• C)
• D)

Product costs set a floor to the price; consumer perceptions of the product’s value set the ceiling.

• A) True
• B) False
• C)
• D)

One important quality for a brand name is that it should translate easily into foreign languages.

• A) False
• B) True
• C)
• D)

In international product and service marketing, it is important to know what different colors mean to different countries.

• A) False
• B) True
• C)
• D)

Dove marketers can go beyond the brand’s cleansing cream attributes and talk about the resulting benefit of softer skin. This is known as product attributes in brand positioning.

• A) False
• B) True
• C)
• D)

An example of service variability is that within a given Marriott hotel, one registration-desk employee may be cheerful and efficient, whereas another may be unpleasant and slow.

• A) False
• B) True
• C)
• D)

The simplest pricing method is break-even pricing—adding a standard markup to the cost of the product.

• A) True
• B) False
• C)
• D)

Cost-based pricing relies on consumer perception of value to drive pricing.

• A) False
• B) True
• C)
• D)

An increasing number of retailers and wholesalers have created their own brands—such as Hyper Star offering variety of food products. This is called co-branding.

• A) False
• B) True
• C)
• D)

The brand of a product can determine its consumer value.

• A) True
• B) False
• C)
• D)

When a manufacturer seeks a market for by-products and accepts a price that covers more than the cost of storing and delivering them, it is able to reduce the main product’s price to make it more competitive.

• A) True
• B) False
• C)
• D)

Value-based pricing is when costs vary directly with the level of product.

• A) True
• B) False
• C)
• D)