Exam 12: Pricing, Distributing, and Promoting Products

________ most often need information in order to conduct technical projects.

Short Case Scenario 12-1 Bill and Farrah have been recently hired by Superior Stereo Systems, a cutting-edge manufacturer of stereo speakers. Both Bill and Farrah have been assigned to work on two product teams, the Superior V, an existing product, and the Superior VI, a brand new speaker technology. The Super V is reviewing the pricing strategy used to this point. Bill, a recent graduate with a degree in economics, is insistent that they should price the speakers to maximize profits. He explains, "It is basic economics-companies price their products to maximize products. There's no question-this is the strategy that we should take." Farrah, remembering what she learned in her marketing courses, isn't so sure that Bill is on the right track. The technical specifications of the Superior VI speakers have been worked out, but the team is struggling with pricing. Some members of the group think that the speakers should be priced higher than the Superior V, while others are arguing for a lower price. -Farrah explains why Superior Stereo Systems might not want to set prices for the Superior V at a level which maximizes profits.What do you expect that Farrah will tell Bill?

In a ________,computers are linked in a smaller area such as an office or building.

The term data refers to ________.

Intranets are usually accessible only to employees.

Differentiate between a wide area network (WAN)and a local area network (LAN).

What is the distribution mix?

Information systems transform information into data.

The oldest and most expensive form of sales is personal selling in which a salesperson communicates one-on-one with potential customers to identify their needs and align them with the product.

Companies maintain wide area networks to link computers and workstations by telephone,satellite,or microwave signals.

Why would a firm want to set their price above competitors prices?

Trojan horses and worms are viruses that travel from computer to computer.

J.C.Penney owns and maintains its own warehouses.This type of warehouse is known as a ________.

How have discount houses changed?

________ include(s)data conferencing and videoconferencing.

Agents and brokers buy products from manufacturers and then sell them to other businesses.

A sluggish economy and changing attitudes about business travel have increased the use of ________.This tool allows managers to share ideas and see each other as they do so.

Who are the founders of wowOwow.com?

The formula for markup percentage is ________.

What is a catalog showroom?