23. Major appliances, furniture, and clothing are typical examples of _________ products.
(A) convenience
(B) shopping
(C) unsought
(D) specialty
(E) capital

24. Kallton is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of shortlisted ideas will be adequately rewarded. In this case, Kallton is using _________ to generate new product ideas. (A) marketing strategy development (B) crowdsourcing (C) concept development (D) business analysis (E) test marketing

25. Using _________, researchers measure consumer responses to new products and marketing tactics in laboratory stores or virtual online shopping environments. (A) simulated test markets (B) controlled test markets (C) business analysis (D) standard test markets (E) concept development

26. A _________ pricing strategy for an offering begins with an assessment of customer needs and perceptions. Then a target price is set based on customer perceptions of worth. (A) costbased (B) target costing (C) valuebased (D) valueadded (E) competitionbased

27. Providing extra amenities to differentiate and support highpriced products is referred to as _________ pricing. (A) highlow (B) valueadded (C) target return (D) everyday low (E) costplus

28. Under _________, the market consists of many buyers and sellers trading over a range of prices rather than a single market price. (A) pure competition (B) monopolistic competition (C) oligopolistic competition (D) a pure monopoly (E) a pure monopsony

29. With each new generation of Apple iPhone, iPad, or Mac computer, new models start at a high price then work their way down as newer models are introduced. Apple initially uses a _________ strategy. (A) marketskimming (B) target costing (C) deceptive (D) marketpenetration (E) predatory

30. Establishing prices for razor blades that must be used with a razor blade system is known as _________ pricing. (A) byproduct (B) marketpenetration (C) product line (D) product bundle (E) captiveproduct

31. Pricing a product based on consumers' reference prices is referred to as _______ pricing. (A) geographical (B) psychological (C) allowance (D) byproduct (E) captiveproduct

32. Wilkinson & Company sells plumbing supplies across the United States. Wilkinson uses Chicago as its central location for determining freight costs regardless of the city from which products are actually shipped. For example, a Dallas customer pays the freight cost from Chicago to Dallas even if the goods are shipped from Dallas. Wilkinson most likely uses _______ pricing. (A) basingpoint (B) FOBorigin (C) freightabsorption (D) zone (E) reference

33. Mary Kay Cosmetics and Amway sell their products through home and office sales parties, online websites, and social media. Both companies use a(n) _______ channel to distribute their offerings. (A) functional (B) indirect (C) direct (D) layered (E) behavioral

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