QUESTION 14 Concept testing is done before a real product has been made. True False QUESTION 15 A profit-oriented pricing strategy means pricing the product high True False QUESTION 16 It is usually quicker to get primary data than secondary data True False Profits peak and then decline in which stage of the Product Life Cyde? Introduction Growth Maturity Decline QUESTION 18 Contribution per unit refers to The portion of the selling price that contributes to covering variable costs The fixed costs multiplied by the break-even point in dollars The portion of the selling price that contributes to covering fixed costs The selling price divided by the variable cost per unit QUESTION 19 which group of consumers would be considered the opinion leaders for a particular product category? Innovators Laggards Early Majority Early Adopters Late Majority QUESTION 20 In a pure competition level of competition there are a few firms who dictate pricing levels customers don't see much difference between offerings and buy on price Products are differentiated to encourage price competition it is the most common form of competition advertising schedule QUESTION 21 Advertising for Halloween costumes would probably follow a Continuous Flighting Pulsing Seasonal QUESTION 22 Ademand curve shows how much profit can be made at different price levels True False