Question 1

What are the costs that need to be paid regardless of how much of a product is produced and sold called?

Accepted Answer

A) Secure costs 
B) Fixed costs 
C) Established costs 
D) Sunk costs 
E) Sheltered costs 
A) Secure costs 
B) Fixed costs 
C) Established costs 
D) Sunk costs 
E) Sheltered costs

Question 2

A good example of cost-oriented pricing is theatre ticket prices for Hollywood films.

Accepted Answer

A) True 
 B)False

Question 3

How do agents differ from brokers?

Accepted Answer

A) Agents receive commissions. 
B) Brokers take title to merchandise,but agents do not. 
C) Brokers provide information services to customers,but agents do not. 
D) Agents take title to merchandise,brokers do not. 
E) Agents deal in the product lines of a few producers usually on a long-term basis,whereas brokers match sellers and buyers as needed. 
A) Agents receive commissions. 
B) Brokers take title to merchandise,but agents do not. 
C) Brokers provide information services to customers,but agents do not. 
D) Agents take title to merchandise,brokers do not. 
E) Agents deal in the product lines of a few producers usually on a long-term basis,whereas brokers match sellers and buyers as needed.

Question 4

Why would you expect a product sold at a specialty store to cost more than the same product that is sold at a department store?

Accepted Answer

Department stores are usually large and

Question 5

What is the advantage of using trucks as a method of transporting goods?

Accepted Answer

A) Lowest rates 
B) Unaffected by weather conditions 
C) Fastest delivery times 
D) Less packaging of the product is required: therefore,packaging costs are lower 
E) Flexibility,dependability,and fast service to most parts of Canada 
A) Lowest rates 
B) Unaffected by weather conditions 
C) Fastest delivery times 
D) Less packaging of the product is required: therefore,packaging costs are lower 
E) Flexibility,dependability,and fast service to most parts of Canada

Question 6

List the three degrees of market coverage.

Accepted Answer

Intensive,

Question 7

What is publicity?

Accepted Answer

Publicity is a promotional too

Question 8

________ are used in the initial phases to help create awareness for a new product or service.

Accepted Answer

A) Sales Promotions and outdoor media 
B) Advertising and publicity 
C) Personal selling and sales promotions 
D) Publicity and Personal Selling 
E) Direct mail and personal selling 
A) Sales Promotions and outdoor media 
B) Advertising and publicity 
C) Personal selling and sales promotions 
D) Publicity and Personal Selling 
E) Direct mail and personal selling

Question 9

What results can be expected if Hydro Supreme Ltd.uses a price skimming strategy to price its new revolutionary irrigation systems?

Accepted Answer

A) Large profits may be earned on each sale. 
B) It may generate a lot of consumer interest,but very low profits. 
C) It permits the company to gain entrance into a market and then later adjust the price to a more realistic figure. 
D) It generates a lot of consumer interest. 
E) It will increase Hydro Supreme's market share. 
A) Large profits may be earned on each sale. 
B) It may generate a lot of consumer interest,but very low profits. 
C) It permits the company to gain entrance into a market and then later adjust the price to a more realistic figure. 
D) It generates a lot of consumer interest. 
E) It will increase Hydro Supreme's market share.

Question 10

Which of the following pricing strategies best describes price lining?

Accepted Answer

A) Setting an initial low price to establish a new product in the market 
B) Setting an initial high price to cover new product costs and generate a profit 
C) Setting individually negotiated prices for certain categories of products 
D) Setting a limited number of prices for certain categories of products 
E) Setting individually negotiated prices for all categories of products 
A) Setting an initial low price to establish a new product in the market 
B) Setting an initial high price to cover new product costs and generate a profit 
C) Setting individually negotiated prices for certain categories of products 
D) Setting a limited number of prices for certain categories of products 
E) Setting individually negotiated prices for all categories of products

Question 11

Goodyear and Levi's have their own retail outlets.This is an example of which distribution channel?

Accepted Answer

A) Direct distribution 
B) Retail distribution 
C) Wholesale distribution 
D) Distribution by agents 
E) Distribution by brokers 
A) Direct distribution 
B) Retail distribution 
C) Wholesale distribution 
D) Distribution by agents 
E) Distribution by brokers

Question 12

What is public relations?

Accepted Answer

Public relations is company-in

Question 13

Dell uses the ________ channel of distribution.

Accepted Answer

A) direct distribution 
B) retail distribution 
C) wholesale distribution 
D) distribution by agents 
E) distribution by brokers 
A) direct distribution 
B) retail distribution 
C) wholesale distribution 
D) distribution by agents 
E) distribution by brokers

Question 14

Explain the primary difference between a wholesaler and a sales agent.

Accepted Answer

The primary difference is the role that

Question 15

Which of the following is correct with regard to the various modes of transportation?

Accepted Answer

A) Water transportation is the least expensive,but slowest of the various modes. 
B) One of the disadvantages of air travel is that it increases packing and handling costs. 
C) Trucks are a particularly good choice for long-distance distribution and for less expensive products. 
D) Overall,trucks are the best way to transport goods. 
E) All of these are correct. 
A) Water transportation is the least expensive,but slowest of the various modes. 
B) One of the disadvantages of air travel is that it increases packing and handling costs. 
C) Trucks are a particularly good choice for long-distance distribution and for less expensive products. 
D) Overall,trucks are the best way to transport goods. 
E) All of these are correct.

Question 16

Companies often price their products to establish ________,a company's percentage of the total market sales for a specific product type.

Accepted Answer

A) break-even point 
B) sales percentage 
C) variable costs 
D) fixed costs 
E) market share 
A) break-even point 
B) sales percentage 
C) variable costs 
D) fixed costs 
E) market share

Question 17

Bill and Farrah have been recently hired by Superior Audio Systems,a cutting-edge manufacturer of speakers.They have been assigned to work on a product team for the Superior V,an existing product,and the Superior VI,a brand-new speaker technology.The team is reviewing the pricing strategy used to this point.Bill insists that they should price the speakers to maximize profits.He explains,"It is basic economics: companies price their products to maximize profits.There's no question,this is the strategy that we should use." Farrah,remembering what she learned in her marketing courses,isn't so sure that Bill is right.Farrah explains why Superior Audio Systems might not want to set prices for the Superior V at a level that maximizes profits.What do you expect that Farrah will tell Bill?

Accepted Answer

Farrah will likely explain that a firm m

Question 18

All of the following are advantages of plane transportation except

Accepted Answer

A) reduced shipping costs. 
B) speed. 
C) reduced inventory carrying costs. 
D) reduced handling costs. 
E) reduced costs in packing. 
A) reduced shipping costs. 
B) speed. 
C) reduced inventory carrying costs. 
D) reduced handling costs. 
E) reduced costs in packing.

Question 19

What is the promotional mix? What are the elements in the promotional mix?

Accepted Answer

The promotional mix is the com

Question 20

Spending on television advertising has increased in recent years because of "binge watching."

Accepted Answer

A) True 
 B)False

What are the costs that need to be paid regardless of how much of a product is produced and sold called?

A good example of cost-oriented pricing is theatre ticket prices for Hollywood films.

How do agents differ from brokers?

Why would you expect a product sold at a specialty store to cost more than the same product that is sold at a department store?

What is the advantage of using trucks as a method of transporting goods?

List the three degrees of market coverage.

What is publicity?

________ are used in the initial phases to help create awareness for a new product or service.

What results can be expected if Hydro Supreme Ltd.uses a price skimming strategy to price its new revolutionary irrigation systems?

Which of the following pricing strategies best describes price lining?

Goodyear and Levi's have their own retail outlets.This is an example of which distribution channel?

What is public relations?

Dell uses the ________ channel of distribution.

Explain the primary difference between a wholesaler and a sales agent.

Which of the following is correct with regard to the various modes of transportation?

Companies often price their products to establish ________,a company's percentage of the total market sales for a specific product type.

All of the following are advantages of plane transportation except

What is the promotional mix? What are the elements in the promotional mix?

Spending on television advertising has increased in recent years because of "binge watching."

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 are the costs that need to be paid regardless of how much of a product is produced and sold called?

A good example of cost-oriented pricing is theatre ticket prices for Hollywood films.

How do agents differ from brokers?

Why would you expect a product sold at a specialty store to cost more than the same product that is sold at a department store?

What is the advantage of using trucks as a method of transporting goods?

List the three degrees of market coverage.

What is publicity?

________ are used in the initial phases to help create awareness for a new product or service.

What results can be expected if Hydro Supreme Ltd.uses a price skimming strategy to price its new revolutionary irrigation systems?

Which of the following pricing strategies best describes price lining?

Goodyear and Levi's have their own retail outlets.This is an example of which distribution channel?

What is public relations?

Dell uses the ________ channel of distribution.

Explain the primary difference between a wholesaler and a sales agent.

Which of the following is correct with regard to the various modes of transportation?

Companies often price their products to establish ________,a company's percentage of the total market sales for a specific product type.

All of the following are advantages of plane transportation except

What is the promotional mix? What are the elements in the promotional mix?

Spending on television advertising has increased in recent years because of "binge watching."

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