Question

Can someone please answer as soon as possible _THANKS

Which of the following statements about perceptual benefits conveyed by a product's packaging and labeling is false?

Select one:

a. The legal requirements for the conveyance of information are an important component of perceptual benefits.

b. Changes in packaging and labeling can update or uphold a brand's image in consumers' minds.

c. Packaging and labeling have been shown to enhance brand recognition and facilitate the formation of strong, favorable, and unique brand associations.

d. Packaging and labeling convey a brand's positioning and build brand equity.

e. The color, shape, and graphics of a package or label can help distinguish one brand from another.

Beth is a well-liked primary care doctor. Her patients comment on her great listening skills and the gentle but firm way she gives them advice. She even relates personal stories to encourage them to improve their own health. Here, Beth exhibits which service quality dimension?

Select one:

a. tangibility

b. credibility

c. empathy

d. reliability

e. assurance

How is inventory of services different from that of products?

Select one:

a. There are larger costs associated with the handling of service inventory.

b. Service inventory costs are related to idle production capacity rather than storage or perishability.

c. Unlike goods providers, the service provider is often unavailable when there is a demand for the service.

d. Only service inventory can be reduced through more efficient movement of products.

e. Time is less important to customers of services than customers of products.

Japanese, Korean, and U.S. firms in the electronics industry often adopt which cost-oriented pricing approach, one that complements the demand-oriented pricing strategy of skimming followed by penetration pricing?

Select one:

a. cost-plus-fixed-fee pricing

b. cost-plus-percentage-of-cost pricing

c. derived demand pricing

d. experience curve pricing

e. standard markup pricing

If you know the contents and price of a McDonald's Extra Value Meal, it may serve as ________ to you when you visit other fast-food restaurants and consider the purchase of a meal option there.

Select one:

a. a profit equation

b. a break-even analysis

c. a marginal analysis

d. a reference value

e. price elasticity of demand

Answer 1

5 Multiple Choices of which only 4 answered and are serially numbered with appropriate answer & explainations

1.Answer is D.

Packing is essential as it is used for the identification of the products in marketing. It enhances the appearance of the labelfor promoting the product. This is the major importance of labeling in marketing. In addition, lab also helps to provide the information about a product to the prospective customer.

Importance of labeling in marketing:

Marketers use labeling to their products to bring identification. This kind of labeling helps a viewer to differentiate the product from the rest in the shelves of the market. There are several used of the label for the products in the market.

Labeling is used for packaging the product. In marketing, a marketer can also use a sticker inedible products to impart knowledge of the ingredients of the food items. This helps to spread awareness among the customers about the item they are consuming and labeling also helps to mention ingredients.

2.Answer is E.CONSIDERING DICTIONARY MEANING OF THE WORDS

Tangiblity: capable of being touched; discernible by the touch; material or substantial. real or actual, rather than imaginary or visionary
Credibility:the quality of being trusted and believed in.
Empathy : the ability to understand and share the feelings of another.
Reliability:the quality of being trustworthy or of performing consistently well.
Assurance:a positive declaration intended to give confidence; a promise.

3.Answer is B

A service inventory represents a collection of independently standardized, owned, and governed services. The scope of a service inventory is expected to be meaningfully "cross-silo," which generally implies that it encompasses multiple business processes or operational areas within an organization. In Manufacturing, Inventory is typically understood as (1) the components used to build the finished product and (2) the finished product themselves. Inventory has the unique property of “cash sitting in product” – in other words, inventory does nothing for the business until it is sold in exchange for a more liquid asset, such as cash. Until then, inventory is a cost.

Service Business	Manufacturing Business
simultaneous production and consumption (co-creation between producer and consumer)	consumption and production at different stages
many critical aspects are intangible	many critical aspects are tangible
concept of inventory may not be material, but can be virtual such as requests and, in healthcare, patients waiting for service can be considered a type of inventory	usually has inventory and buffers
considerable variability in service delivery	some variation
open universe in variety of service cases	closed set in variety in product manufacturing
substantive and peripheral benefits	mainly substantive product benefit

Inventory in an emergency room might be the people waiting; in this context, increasing patient flow means that we reduce inventory (people) and, in other words, we serve more patients in a more timely manner. But, who wants to call people “inventory” – it’s not appropriate, but one could misapply the term and reduce people to inventory.

Inventory in a service context often has the property of intangibility – that is, it’s not often a “real good” that one could point to in a moment of time. For example, seats at a movie theater could be considered “inventory”, but there are other more creative labels for “unused capacity”, such as “occupancy rate”, and others. But, it is basically inventory. Back to the movie theater example, unused seats in a movie theater could be considered inventory for which there is no demand – this means it is “cash left on the table”.

4.ANSWER is E

The Mark-up pricing is the method of adding a certain percentage of a markup to the cost of the product to determine the selling price.