Question 1

What is the amount added to an item's cost in order to sell it at a profit called?

Accepted Answer

A) Spread 
B) Profit share 
C) Margin 
D) Increase 
E) Markup 
A) Spread 
B) Profit share 
C) Margin 
D) Increase 
E) Markup

Question 2

Which of the following is pricing that considers the firm's goal of making a profit and its need to cover production costs?

Accepted Answer

A) Revenue-oriented pricing 
B) Cost-oriented pricing 
C) Profit-oriented pricing 
D) Production-oriented pricing 
E) Earnings-oriented pricing 
A) Revenue-oriented pricing 
B) Cost-oriented pricing 
C) Profit-oriented pricing 
D) Production-oriented pricing 
E) Earnings-oriented pricing

Question 3

Which of the following modes of transportation is used primarily to transport heavy,bulky items such as cars,steel,and coal?

Accepted Answer

A) Air 
B) Pipeline 
C) Trucks 
D) Water 
E) Railroads 
A) Air 
B) Pipeline 
C) Trucks 
D) Water 
E) Railroads

Question 4

Which of the following is correct with regard to the various media?

Accepted Answer

A) About twice as much is spent on advertising in magazines than is spent on newspapers. 
B) More money is spent on magazine advertising than on online ads 
C) Radio stations are generally not highly segmented into listening categories. 
D) Billboard messages are relatively expensive. 
E) People tend to use radio as "background" while they are doing other things. 
A) About twice as much is spent on advertising in magazines than is spent on newspapers. 
B) More money is spent on magazine advertising than on online ads 
C) Radio stations are generally not highly segmented into listening categories. 
D) Billboard messages are relatively expensive. 
E) People tend to use radio as "background" while they are doing other things.

Question 5

What is the fundamental difference between retailers and wholesalers?

Accepted Answer

The fundamental difference is that retai

Question 6

Which of the following is the process of determining what the customer pays and what the seller receives in exchange for a product?

Accepted Answer

A) Charging 
B) Appraising 
C) Valuing 
D) Costing 
E) Pricing 
A) Charging 
B) Appraising 
C) Valuing 
D) Costing 
E) Pricing

Question 7

A fashion retailer would like to hit the break-even point as late as possible in the product life cycle so profits will be maximized.

Accepted Answer

A) True 
 B)False

Question 8

What are the advantages and disadvantages of public relations?

Accepted Answer

If it is done well,public relations crea

Question 9

What is setting an initially low price to establish a new product in the market called?

Accepted Answer

A) Penetration pricing 
B) Low ball pricing 
C) Trial pricing 
D) Price skimming 
E) Underpricing 
A) Penetration pricing 
B) Low ball pricing 
C) Trial pricing 
D) Price skimming 
E) Underpricing

Question 10

List three forms of direct response retailing.

Accepted Answer

Mail order (catalogue)marketin

Question 11

What is the appeal of merchandise in a factory outlet?

Accepted Answer

A) The outlet stores keep prices low by locating in a low rent area and operating on a cash only basis. 
B) The outlet is organized into different departments such as children's clothing,bedding,drapes,and men's clothing. 
C) The merchandise consists of many brand-name clothing,groceries,and appliances. 
D) Prices are lower because the outlet is owned by the manufacturer and bypasses intermediaries. 
E) Prices are lower because the outlet owners purchase the overstocked merchandise from manufacturers or large chains at a reduced price. 
A) The outlet stores keep prices low by locating in a low rent area and operating on a cash only basis. 
B) The outlet is organized into different departments such as children's clothing,bedding,drapes,and men's clothing. 
C) The merchandise consists of many brand-name clothing,groceries,and appliances. 
D) Prices are lower because the outlet is owned by the manufacturer and bypasses intermediaries. 
E) Prices are lower because the outlet owners purchase the overstocked merchandise from manufacturers or large chains at a reduced price.

Question 12

A break-even analysis is used to determine how many units of a product must be sold at a given price before the company begins to make a profit.

Accepted Answer

A) True 
 B)False

Question 13

The most negative aspect of publicity is that

Accepted Answer

A) it is expensive. 
B) it isn't believable to many people. 
C) it isn't that important. 
D) it is viewed as being biased. 
E) it isn't controllable by the company. 
A) it is expensive. 
B) it isn't believable to many people. 
C) it isn't that important. 
D) it is viewed as being biased. 
E) it isn't controllable by the company.

Question 14

Sara is selling posters at the sale price of $12.00,and the markup percentage is 35 percent.What is the dollar amount of the markup?

Accepted Answer

A) $7.80 
B) $4.20 
C) $7.75 
D) $3.50 
E) None of these 
A) $7.80 
B) $4.20 
C) $7.75 
D) $3.50 
E) None of these

Question 15

Mega Computer,a computer manufacturer,is using direct mail to send 10 percent off coupons to its list of potential customers.This strategy is called a ________ strategy.

Accepted Answer

A) pull 
B) product 
C) position 
D) push 
E) place 
A) pull 
B) product 
C) position 
D) push 
E) place

Question 16

List one advantage and one disadvantage of using trucks for transportation.

Accepted Answer

The advantages of trucks inclu

Question 17

How are price lining and psychological pricing used to determine prices of products?

Accepted Answer

Price lining is the practice of offering

Question 18

What pricing objectives are implied by penetration and skimming?

Accepted Answer

The primary objective of marke

Question 19

What is a channel captain?

Accepted Answer

A channel captain is the chann

Question 20

Identify three services provided by full-service merchant wholesalers.

Accepted Answer

Credit,storage,marketing,deliv

What is the amount added to an item's cost in order to sell it at a profit called?

Which of the following is pricing that considers the firm's goal of making a profit and its need to cover production costs?

Which of the following modes of transportation is used primarily to transport heavy,bulky items such as cars,steel,and coal?

Which of the following is correct with regard to the various media?

What is the fundamental difference between retailers and wholesalers?

Which of the following is the process of determining what the customer pays and what the seller receives in exchange for a product?

A fashion retailer would like to hit the break-even point as late as possible in the product life cycle so profits will be maximized.

What are the advantages and disadvantages of public relations?

What is setting an initially low price to establish a new product in the market called?

List three forms of direct response retailing.

What is the appeal of merchandise in a factory outlet?

A break-even analysis is used to determine how many units of a product must be sold at a given price before the company begins to make a profit.

The most negative aspect of publicity is that

Sara is selling posters at the sale price of $12.00,and the markup percentage is 35 percent.What is the dollar amount of the markup?

Mega Computer,a computer manufacturer,is using direct mail to send 10 percent off coupons to its list of potential customers.This strategy is called a ________ strategy.

List one advantage and one disadvantage of using trucks for transportation.

How are price lining and psychological pricing used to determine prices of products?

What pricing objectives are implied by penetration and skimming?

What is a channel captain?

Identify three services provided by full-service merchant wholesalers.

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Money and Banking

Financial Decisions and Risk Management

Filters

Exam 13: Pricing,promoting,and Distributing Products

What is the amount added to an item's cost in order to sell it at a profit called?

Which of the following is pricing that considers the firm's goal of making a profit and its need to cover production costs?

Which of the following modes of transportation is used primarily to transport heavy,bulky items such as cars,steel,and coal?

Which of the following is correct with regard to the various media?

What is the fundamental difference between retailers and wholesalers?

Which of the following is the process of determining what the customer pays and what the seller receives in exchange for a product?

A fashion retailer would like to hit the break-even point as late as possible in the product life cycle so profits will be maximized.

What are the advantages and disadvantages of public relations?

What is setting an initially low price to establish a new product in the market called?

List three forms of direct response retailing.

What is the appeal of merchandise in a factory outlet?

A break-even analysis is used to determine how many units of a product must be sold at a given price before the company begins to make a profit.

The most negative aspect of publicity is that

Sara is selling posters at the sale price of $12.00,and the markup percentage is 35 percent.What is the dollar amount of the markup?

Mega Computer,a computer manufacturer,is using direct mail to send 10 percent off coupons to its list of potential customers.This strategy is called a ________ strategy.

List one advantage and one disadvantage of using trucks for transportation.

How are price lining and psychological pricing used to determine prices of products?

What pricing objectives are implied by penetration and skimming?

What is a channel captain?

Identify three services provided by full-service merchant wholesalers.

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Money and Banking

Financial Decisions and Risk Management

Filters