Question 1

What is the idea behind odd-even pricing?

Accepted Answer

The idea is that consumers pre

Question 2

Which type of promotion is outside of the company's control?

Accepted Answer

A) Coupons 
B) Television advertising 
C) Personal selling by sales agents 
D) Publicity 
E) Trade shows 
A) Coupons 
B) Television advertising 
C) Personal selling by sales agents 
D) Publicity 
E) Trade shows

Question 3

Accessibility,relative cost,and the ability to personalize messages are all strengths of ________ advertising.

Accepted Answer

A) mobile 
B) magazine 
C) television 
D) online 
E) radio 
A) mobile 
B) magazine 
C) television 
D) online 
E) radio

Question 4

Algoma Banners set up a booth to display their products and to demonstrate products to customers who have a special interest in their product.Which sales promotion technique were they using?

Accepted Answer

A) Coupons 
B) Premiums 
C) Contests 
D) Trade shows 
E) Point-of-sale displays 
A) Coupons 
B) Premiums 
C) Contests 
D) Trade shows 
E) Point-of-sale displays

Question 5

Frisell says: The most important online threat facing us today is identity theft.Consumers must rely on online shopping today more than ever,and they are exposed to all kinds of dangers by people gaining access to credit cards,bank information,and Social Security numbers.Identity theft is a lucrative "business," and identity thieves will keep finding new ways to rip off consumers as long as online shopping and transactions are widespread. Scofield responds: Consumers have suffered from online theft,but the most far-reaching danger to people today from the Internet is viruses and malware.These have the capacity to take down entire networks,affecting both businesses and consumers.It's not clear that anti-virus measures will ever be able to keep up with all the threats that are out there.
Frisell's claim assumes which of the following?

Accepted Answer

A) Most consumers prefer to shop online rather than at a traditional physical store. 
B) Identity thieves will continue to be motivated to steal people's identities. 
C) Most identity theft occurs because consumers do not take enough safety measures. 
D) Identity theft mainly occurs as a result of spyware. 
E) It takes hundreds of hours for consumers to repair the effects of identity theft. 
A) Most consumers prefer to shop online rather than at a traditional physical store. 
B) Identity thieves will continue to be motivated to steal people's identities. 
C) Most identity theft occurs because consumers do not take enough safety measures. 
D) Identity theft mainly occurs as a result of spyware. 
E) It takes hundreds of hours for consumers to repair the effects of identity theft.

Question 6

Eliminating intermediaries in the channel of distribution means that prices to consumers decline because the intermediaries no longer need to be paid.

Accepted Answer

A) True 
 B)False

Question 7

If a retailer buys shirts for $8 from a supplier and then sells them for $15 to customers,the markup percentage is 87.5 percent.

Accepted Answer

A) True 
 B)False

Question 8

What are the two basic tools used in price-setting?

Accepted Answer

A) Profit maximization and market share 
B) Advertising and sales promotion 
C) Cost-oriented pricing and break-even analysis 
D) Cost-oriented pricing and profit maximization 
E) Cost-oriented pricing and market share 
A) Profit maximization and market share 
B) Advertising and sales promotion 
C) Cost-oriented pricing and break-even analysis 
D) Cost-oriented pricing and profit maximization 
E) Cost-oriented pricing and market share

Question 9

Which of the following is the oldest form of direct-response retailing?

Accepted Answer

A) Mail order 
B) Telemarketing 
C) Electronic retailing 
D) Mail marketing 
E) Direct selling 
A) Mail order 
B) Telemarketing 
C) Electronic retailing 
D) Mail marketing 
E) Direct selling

Question 10

What are the various business objectives that influence pricing decisions?

Accepted Answer

Objectives include maximizing

Question 11

Describe the elements of the promotional mix.

Accepted Answer

The promotional mix consists of advertis

Question 12

List three options for pricing existing products.

Accepted Answer

Pricing above market

Question 13

The formula for determining the break-even point (in units)is total fixed costs divided by price minus variable cost.

Accepted Answer

A) True 
 B)False

Question 14

Personal Devices Inc.is a manufacturer of premium cell phones.Most of the company's products are equipped with high-end features like sophisticated texting options,top industry standard encryption,advanced camera options,user-friendly music functionalities,large internal memory,and simplified data transfer capabilities.The company is planning to enter the Indian market.One of the senior managers argues that a stripped-down,low-priced model without any extras could be the starting point.The company can sell additional features added to the base model at higher price points. Which of the following,if true,would most strengthen the senior manager's argument?

Accepted Answer

A) Research suggests that consumers are looking for more variety in this product category. 
B) The majority of India's consumer market is located at the bottom of the income pyramid. 
C) Few competitors in the market offer basic cell phones because of increasing customer sophistication. 
D) The company will face charges of dumping if it sells the phones at a price lower than what it offers in the home country. 
E) Different companies already cater to the requirements of different market segments in India. 
A) Research suggests that consumers are looking for more variety in this product category. 
B) The majority of India's consumer market is located at the bottom of the income pyramid. 
C) Few competitors in the market offer basic cell phones because of increasing customer sophistication. 
D) The company will face charges of dumping if it sells the phones at a price lower than what it offers in the home country. 
E) Different companies already cater to the requirements of different market segments in India.

Question 15

The sales volume at which the seller's total revenue from sales equals total costs (variable and fixed)with neither profit nor loss is known as the breakeven point.

Accepted Answer

A) True 
 B)False

Question 16

Why is water the least expensive mode of transportation?

Accepted Answer

Networks of waterways,oceans,rivers,and

Question 17

Piper & Son sells pickled peppers to stores for $3 per jar,and the stores sell each jar to consumers for $7.50.What is the markup percentage?

Accepted Answer

A) 40 percent 
B) 60 percent 
C) 67 percent 
D) 150 percent 
E) 250 percent 
A) 40 percent 
B) 60 percent 
C) 67 percent 
D) 150 percent 
E) 250 percent

Question 18

What is "markup"?

Accepted Answer

A) Markup is the point at which the firm covers the fixed and variable costs. 
B) Markup is the amount of money left over after all expenses have been deducted from revenues. 
C) Markup is an amount equal to demand divided by product cost. 
D) Markup is an amount added to the cost of the item to arrive at the selling price. 
E) Markup is the point where demand equals supply. 
A) Markup is the point at which the firm covers the fixed and variable costs. 
B) Markup is the amount of money left over after all expenses have been deducted from revenues. 
C) Markup is an amount equal to demand divided by product cost. 
D) Markup is an amount added to the cost of the item to arrive at the selling price. 
E) Markup is the point where demand equals supply.

Question 19

In the direct channel of distribution,how many intermediaries are there between the producer and the consumer?

Accepted Answer

A) 0 
B) 1 
C) 2 
D) 3 
E) 4 
A) 0 
B) 1 
C) 2 
D) 3 
E) 4

Question 20

Brian works at the local grocery store.His supervisor asked him to use point-of-purchase displays.Brian needs to

Accepted Answer

A) set up a product display strategically located in an area to encourage consumers to buy the products. 
B) set up a display where consumers can pick out one item free when they purchase a specified product. 
C) pass out coupons to customers purchasing the targeted products as they are checking out. 
D) set up a table and give out free samples. 
E) interview customers as they are considering a purchase of the targeted products. 
A) set up a product display strategically located in an area to encourage consumers to buy the products. 
B) set up a display where consumers can pick out one item free when they purchase a specified product. 
C) pass out coupons to customers purchasing the targeted products as they are checking out. 
D) set up a table and give out free samples. 
E) interview customers as they are considering a purchase of the targeted products.

What is the idea behind odd-even pricing?

Which type of promotion is outside of the company's control?

Accessibility,relative cost,and the ability to personalize messages are all strengths of ________ advertising.

Algoma Banners set up a booth to display their products and to demonstrate products to customers who have a special interest in their product.Which sales promotion technique were they using?

Eliminating intermediaries in the channel of distribution means that prices to consumers decline because the intermediaries no longer need to be paid.

If a retailer buys shirts for $8 from a supplier and then sells them for $15 to customers,the markup percentage is 87.5 percent.

What are the two basic tools used in price-setting?

Which of the following is the oldest form of direct-response retailing?

What are the various business objectives that influence pricing decisions?

Describe the elements of the promotional mix.

List three options for pricing existing products.

The formula for determining the break-even point (in units)is total fixed costs divided by price minus variable cost.

The sales volume at which the seller's total revenue from sales equals total costs (variable and fixed)with neither profit nor loss is known as the breakeven point.

Why is water the least expensive mode of transportation?

Piper & Son sells pickled peppers to stores for $3 per jar,and the stores sell each jar to consumers for $7.50.What is the markup percentage?

What is "markup"?

In the direct channel of distribution,how many intermediaries are there between the producer and the consumer?

Brian works at the local grocery store.His supervisor asked him to use point-of-purchase displays.Brian needs to

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 idea behind odd-even pricing?

Which type of promotion is outside of the company's control?

Accessibility,relative cost,and the ability to personalize messages are all strengths of ________ advertising.

Algoma Banners set up a booth to display their products and to demonstrate products to customers who have a special interest in their product.Which sales promotion technique were they using?

Eliminating intermediaries in the channel of distribution means that prices to consumers decline because the intermediaries no longer need to be paid.

If a retailer buys shirts for $8 from a supplier and then sells them for $15 to customers,the markup percentage is 87.5 percent.

What are the two basic tools used in price-setting?

Which of the following is the oldest form of direct-response retailing?

What are the various business objectives that influence pricing decisions?

Describe the elements of the promotional mix.

List three options for pricing existing products.

The formula for determining the break-even point (in units)is total fixed costs divided by price minus variable cost.

The sales volume at which the seller's total revenue from sales equals total costs (variable and fixed)with neither profit nor loss is known as the breakeven point.

Why is water the least expensive mode of transportation?

Piper & Son sells pickled peppers to stores for $3 per jar,and the stores sell each jar to consumers for $7.50.What is the markup percentage?

What is "markup"?

In the direct channel of distribution,how many intermediaries are there between the producer and the consumer?

Brian works at the local grocery store.His supervisor asked him to use point-of-purchase displays.Brian needs to

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