Exam 20: Pricing Concepts

Britney is fifteen years old and wants to begin her own business selling cupcakes to coffee shops and restaurants.She is having a tough time deciding whether she should express her market share in terms of the revenue generated or the number of cupcakes sold.Regardless of what she chooses,which of the following types of pricing objectives is Britney considering?

(Multiple Choice)

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Question 41

__________costs do not change as output is increased or decreased.

(Short Answer)

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Question 42

Which of the following statements is true about the Internet?

(Multiple Choice)

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Question 43

Liquiction Pool and Patio Inc.is a company known for its quality pool installations,excellent customer service,and reasonable prices.Given the demand,Liquiction could price its products higher,but it prefers to price its products such that it will earn a reasonable level of profits.Liquiction seems to base its pricing policy on:

(Multiple Choice)

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Question 44

Price matching is one of the ways to counter a competitor's prices.

(True/False)

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Question 45

Diffusion Research Company specializes in conducting market research for various firms.When it receives proposals for new research,its management will first estimate the cost of conducting the research and producing and delivering the final research report.The management then adds 30 percent to that cost estimate.This becomes the price estimate given to the potential research client.This suggests that Diffusion Research Company uses a _____ pricing objective.

(Multiple Choice)

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Question 46

The demand curve for a product shows the change in the product's supply with changes in its price.

(True/False)

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Question 47

Manufacturers find that their large customers always force sellers to do illegal price discrimination.

(True/False)

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Question 48

At a price of $2,000,the demand for Ranger 60 mountain bikes from Cloyd's Inc.is 300,but only 191 bikes are being made.At a price of $2,300,the demand for the bikes is 250,and exactly 250 bikes are being made.If Cloyd'ssells each one of the bikes at a price lower than $2,300,_____.

(Multiple Choice)

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Question 49

The quantity of a product that people will buy is most likely to decrease as the product's__________increases.

(Short Answer)

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Question 50

Randy's Apparels Inc.plans to expand its customer base and product line.It introduces a new line of designer wear that are very expensive and exclusively available at Randy's.It emphasizes the high quality and exclusivityof this new line of products in its advertisements.In this case,Randy's Apparels has used _____ for the new line of products.

(Multiple Choice)

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Question 51

GoodFurn Furniture Company has recently moved to a new,larger location.At the new location,it has been unable to attract sufficient customers.Its owner did not have the cash to pay the current loan installment due for the building and inventory.So,he decided to reduce all merchandise prices by at least 50 percent for a weekend sale to earn enough to make his loan payment.In this case,the owner's pricing objective can be classified as:

(Multiple Choice)

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Question 52

At a price of $2,000,the demand for Ranger 60 mountain bikes from Cloyd's Inc.is 300,but only 191 bikes are being made.At a price of $2,300,the demand for the bikes is 250,and exactly 250 bikes are being made.If Cloyd's sells each one of the bikes at a price lower than $2,300,__________.

(Short Answer)

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Question 53

Pierre's Ice Cream Company produces ultra-rich ice cream,which it sells in Cleveland,Ohio,and other neighboring places.Last year,its actual return on investment exceeded its target return on investment (ROI)for that fiscal year.The following results were found on its financial statements: Gross revenues: $250,000 Total assets: $500,000 Gross profits: $100,000 Total liabilities: $200,000 Net profits after tax: $ 50,000 Owner's equity: $300,000 What was the actual ROI for Pierre's Ice Cream Company?

(Multiple Choice)

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Question 54

Which of the following is true of products in the introduction stage of their life cycle?

(Multiple Choice)

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Question 55

A shopping bot is a private electronic network that links a company with its suppliers and customers.

(True/False)

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Question 56

Which of the following is a similarity between broad-based shopping bots and niche-oriented shopping bots?

(Multiple Choice)

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Question 57

At a local retail store,Randi saw a bag of daffodil flower bulbs and a box of plant fertilizer.The items,which were sold together,retailed at $28.50 but were marked down to $19.99.The $19.99 is the:

(Multiple Choice)

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Question 58

When the price of a product is set at a level where demand and supply are the same,a state of _____ has been achieved.

(Multiple Choice)

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Question 59

Yield management systems are used to:

(Multiple Choice)

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Question 60

Showing 41 - 60 of 64

__________costs do not change as output is increased or decreased.

Which of the following statements is true about the Internet?

Price matching is one of the ways to counter a competitor's prices.

The demand curve for a product shows the change in the product's supply with changes in its price.

Manufacturers find that their large customers always force sellers to do illegal price discrimination.

At a price of $2,000,the demand for Ranger 60 mountain bikes from Cloyd's Inc.is 300,but only 191 bikes are being made.At a price of $2,300,the demand for the bikes is 250,and exactly 250 bikes are being made.If Cloyd'ssells each one of the bikes at a price lower than $2,300,_____.

The quantity of a product that people will buy is most likely to decrease as the product's__________increases.

At a price of $2,000,the demand for Ranger 60 mountain bikes from Cloyd's Inc.is 300,but only 191 bikes are being made.At a price of $2,300,the demand for the bikes is 250,and exactly 250 bikes are being made.If Cloyd's sells each one of the bikes at a price lower than $2,300,__________.

Which of the following is true of products in the introduction stage of their life cycle?

A shopping bot is a private electronic network that links a company with its suppliers and customers.

Which of the following is a similarity between broad-based shopping bots and niche-oriented shopping bots?

At a local retail store,Randi saw a bag of daffodil flower bulbs and a box of plant fertilizer.The items,which were sold together,retailed at $28.50 but were marked down to $19.99.The $19.99 is the:

When the price of a product is set at a level where demand and supply are the same,a state of _____ has been achieved.

Yield management systems are used to:

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management

Marketing Channels

Retailing

Marketing Communications

Advertising, public Relations, and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Setting the Right Price

Filters

Exam 20: Pricing Concepts

__________costs do not change as output is increased or decreased.

Which of the following statements is true about the Internet?

Price matching is one of the ways to counter a competitor's prices.

The demand curve for a product shows the change in the product's supply with changes in its price.

Manufacturers find that their large customers always force sellers to do illegal price discrimination.

At a price of $2,000,the demand for Ranger 60 mountain bikes from Cloyd's Inc.is 300,but only 191 bikes are being made.At a price of $2,300,the demand for the bikes is 250,and exactly 250 bikes are being made.If Cloyd'ssells each one of the bikes at a price lower than $2,300,_____.​

The quantity of a product that people will buy is most likely to decrease as the product's__________increases.

At a price of $2,000,the demand for Ranger 60 mountain bikes from Cloyd's Inc.is 300,but only 191 bikes are being made.At a price of $2,300,the demand for the bikes is 250,and exactly 250 bikes are being made.If Cloyd's sells each one of the bikes at a price lower than $2,300,__________.

Which of the following is true of products in the introduction stage of their life cycle?

A shopping bot is a private electronic network that links a company with its suppliers and customers.

Which of the following is a similarity between broad-based shopping bots and niche-oriented shopping bots?

At a local retail store,Randi saw a bag of daffodil flower bulbs and a box of plant fertilizer.The items,which were sold together,retailed at $28.50 but were marked down to $19.99.The $19.99 is the:

When the price of a product is set at a level where demand and supply are the same,a state of _____ has been achieved.​

Yield management systems are used to:

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management

Marketing Channels

Retailing

Marketing Communications

Advertising, public Relations, and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Setting the Right Price

Filters

At a price of $2,000,the demand for Ranger 60 mountain bikes from Cloyd's Inc.is 300,but only 191 bikes are being made.At a price of $2,300,the demand for the bikes is 250,and exactly 250 bikes are being made.If Cloyd'ssells each one of the bikes at a price lower than $2,300,_____.

When the price of a product is set at a level where demand and supply are the same,a state of _____ has been achieved.