Callahan Date: S/14/19 6) If a consumer purchases a new flat-screen "smart" television, what is the augmented product 7) involved? 9) 10) A) brand name B) connection to the world of entertainment C) state-of the art technology D) tech support and warranty E) slick and attractive packaging are industrial products. A) Life insurance policies B) Office supplies C) Legal services D) Major appliances E) Laundry detergents products are those products purchased for further processing or for use in conducting a A) Shopping B) Industrial. C) Convenience business. D) Specialty E) Unsought refers to the amount of money charged for a product or service. A) Salary B) Price C) Value D) Cost is the only element in the marketing mix that produces revenue. A) Fixed costs B) Price C) Place D) Product E) Variable costs 11) Which of the following is true with regard to price? A) Unlike product features and channel commitments, prices cannot be changed quickly. E) Wage B) Price is the least flexible element in the marketing mix. C) Price is the sum of all the values that customers give up to gain the benefits of having a product. D) Historically, price has had the least perceptible impact on buyer choice. E) Prices only have an indirect impact on a firm's bottom line. 12) What sets the ceiling for product prices? A) customer perceptions of the product's value B) variable costs C) product manufacturing costs D) break-even volume E) sellers' perceptions of the product's value (8) 9) 10) 11) 12