I) Mazda's Miata convertible originally drew the most interest from women between the ages of 35-55. In order to interest more potential customers in the roadster, Mazda beefed up the model with heavier shocks and a faster engine, and then emphasized performance in its advertising. This is an example of creating a new product by ____________.
A. Product development strategy
B. Repositioning
C. Market diversification strategy
D. The development of a new product line
C. Market diversification strategyD. The development of a new product line
II) For $15 a day, Chlena will go to your home and feed, water, and play with your pet while you are on vacation. The service Chlena provides is an example of a _____________.
A. Major service with accompanying minor goods and services
B. Tangible good with accompanying service
C. Pure service
D. Hybrid
III) Which of the following best describes the category in which the offering's service mix is distinguished? "People patronize restaurants for both food and service."
A. Pure service
B. Pure tangible good
C. Hybrid
D. Tangible good with accompanying services
IV) Best Buy will often try to sell the buyer of a high end television monitor an extended warranty. This is an example of _______________.
A. Pure tangible good
B. Tangible good with accompanying services
C. Hybrid
D. Pure service
V) When customers buy on the basis of a reference price orbecause the price conveys a particular quality image to them, they are being influenced by ____________.
A. Value augmented by perception
B. Value pricing
C. The going rates of competitors
D. The psychology of pricing