A survey company used a dollar value to measure the ___________ of Ben and Jerry's Ice Cream, as compared to some of its worthy competitors. Essentially, the survey firm evaluated Ben and Jerry's by measuring net value of several components that would comprise the brand's perception and image to ice cream customers.

a) brand intrigue

b) brand equity

c) time line

d) value package

Answer: B

Differentiating your product so that it will appeal to additional market segments occurs most often at which stage of the product life cycle?

a) Growth

b) Maturity

c) Decline

d) Introduction

Answer: B

Upscale retailers, such as Nordstrom, feature customer service as their significant point of difference and use that difference to compete with less expensive stores. This is known as ___________ competition.

a) target forcing

b) upscale

c) point-of-difference

d) nonprice

Answer: D

Fountain of Youth Tea Company changed their glass bottles to streamlined thermos-like, blue sports bottles that fit nicely on bicycles and in car holders. A packaging innovation such as this could actually be perceived by the buyer as a _____________.

a) new product innovation

b) change in the environmental mix

c) change in the product focus to the B2B market

d) change in the classification of the product

Answer: A

Soho Bottling was started in a kitchen in Brooklyn, New York, and makes soft drinks. After going through the various steps in the new-product development process, when the company finally entered the commercialization stage of the new product development process, they knew to succeed they would have to:

a) decide what stage of the product life cycle the product was in.

b) determine the appropriate product bundling strategy.

c) promote the product to distributors and retailers to get wide distribution.

d) do the appropriate concept and environmental testing.

Answer: C

If fixed costs are $100,000, variable cost per unit is $40, and the selling price is $60, how many units must be sold for the firm to break even?

a) 5,000

b) 2,500

c) 10,000

d) 1,000

Answer: A