Question 1

An intermediary is

Accepted Answer

A)  the combination of distribution channels by which a firm gets its products to end-users. 
B)  a business that sells products to other businesses for resale to final consumers. 
C)  a business that sells products directly to consumers. 
D)  an individual or firm that helps to distribute a product. 
E)  a network of independent companies through which a product passes from producer to end-user. 
A)  the combination of distribution channels by which a firm gets its products to end-users. 
B)  a business that sells products to other businesses for resale to final consumers. 
C)  a business that sells products directly to consumers. 
D)  an individual or firm that helps to distribute a product. 
E)  a network of independent companies through which a product passes from producer to end-user.

Question 2

Price lining is a tactic used mostly for new products; it requires that prices be set high in order to cover product development and introduction costs.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is most likely to be used to establish a new product in a market that already has similar products?

Accepted Answer

A)  Penetration pricing 
B)  Market pricing 
C)  Price skimming 
D)  Price fixing 
E)  Price lining 
A)  Penetration pricing 
B)  Market pricing 
C)  Price skimming 
D)  Price fixing 
E)  Price lining

Question 4

Which of the following retail stores do manufacturers own?

Accepted Answer

A)  Factory outlets 
B)  Off-price stores 
C)  Warehouse club 
D)  Hypermarkets 
E)  Source outlets 
A)  Factory outlets 
B)  Off-price stores 
C)  Warehouse club 
D)  Hypermarkets 
E)  Source outlets

Question 5

Odd-even pricing involves

Accepted Answer

A)  setting a limited number of prices for certain categories of products. 
B)  setting an initial high price to cover new product costs and generating a profit. 
C)  taking advantage of the fact that consumers do not always respond rationally to stated prices. 
D)  setting prices in uneven dollar amounts. 
E)  setting an initial low price to establish a new product in the market. 
A)  setting a limited number of prices for certain categories of products. 
B)  setting an initial high price to cover new product costs and generating a profit. 
C)  taking advantage of the fact that consumers do not always respond rationally to stated prices. 
D)  setting prices in uneven dollar amounts. 
E)  setting an initial low price to establish a new product in the market.

Question 6

Syndicated selling occurs when a website offers other websites a commission for referring customers.

Accepted Answer

A) True 
 B)False

Question 7

Companies selling products like structural steel,gasoline,and processed foods typically use which of the following pricing strategies?

Accepted Answer

A)  Price lining 
B)  Prices above prevailing prices 
C)  Price fixing 
D)  Price leadership 
E)  Prices below prevailing prices 
A)  Price lining 
B)  Prices above prevailing prices 
C)  Price fixing 
D)  Price leadership 
E)  Prices below prevailing prices

Question 8

What is the difference between retailers and wholesalers?

Accepted Answer

Wholesalers provide a variety

Question 9

What are pricing objectives?

Accepted Answer

Pricing objectives a

Question 10

Identify two strategies for pricing new products.

Accepted Answer

Price skim

Question 11

Online retail sales in Canada in 2011 were approximately $____ billion,which was ____percent of total retail sales.

Accepted Answer

A)  3 billion; 1.2 
B)  10 billion; 5.8 
C)  18 billion; 3.4 
D)  35 billion; 20.3 
E)  50 billion; 12.4 
A)  3 billion; 1.2 
B)  10 billion; 5.8 
C)  18 billion; 3.4 
D)  35 billion; 20.3 
E)  50 billion; 12.4

Question 12

When Vancouver-based Uniglobe Travel International books flight reservations,it is an illustration of which channel of distribution?

Accepted Answer

A)  Direct distribution 
B)  Retail distribution 
C)  Wholesale distribution 
D)  Distribution by agents/brokers 
E)  None of these 
A)  Direct distribution 
B)  Retail distribution 
C)  Wholesale distribution 
D)  Distribution by agents/brokers 
E)  None of these

Question 13

Vertical marketing systems were developed to overcome the problems caused by channel conflict.

Accepted Answer

A) True 
 B)False

Question 14

Pricing new products is usually a choice between skimming and penetration.

Accepted Answer

A) True 
 B)False

Question 15

A 10 kg.bag of soil costs Greencorp $6.If management prices the bag at $15,the markup percentage is

Accepted Answer

A)  40%. 
B)  10%. 
C)  34%. 
D)  60%. 
E)  25%. 
A)  40%. 
B)  10%. 
C)  34%. 
D)  60%. 
E)  25%.

Question 16

Doreen owns a seafood restaurant in Alberta.She would like to have the freshest seafood possible,so her preferred method of delivery would be

Accepted Answer

A)  plane. 
B)  train. 
C)  truck. 
D)  any of these would deliver fresh seafood in an equal amount of time. 
E)  none of these are good delivery methods for seafood. 
A)  plane. 
B)  train. 
C)  truck. 
D)  any of these would deliver fresh seafood in an equal amount of time. 
E)  none of these are good delivery methods for seafood.

Question 17

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 18

What is a markup?

Accepted Answer

A markup is an amoun

Question 19

Describe the different types of companies specializing in transportation.

Accepted Answer

- common carriers: companies that transp

Question 20

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.

An intermediary is

Price lining is a tactic used mostly for new products; it requires that prices be set high in order to cover product development and introduction costs.

Which of the following is most likely to be used to establish a new product in a market that already has similar products?

Which of the following retail stores do manufacturers own?

Odd-even pricing involves

Syndicated selling occurs when a website offers other websites a commission for referring customers.

Companies selling products like structural steel,gasoline,and processed foods typically use which of the following pricing strategies?

What is the difference between retailers and wholesalers?

What are pricing objectives?

Identify two strategies for pricing new products.

Online retail sales in Canada in 2011 were approximately $ billion,which was percent of total retail sales.

When Vancouver-based Uniglobe Travel International books flight reservations,it is an illustration of which channel of distribution?

Vertical marketing systems were developed to overcome the problems caused by channel conflict.

Pricing new products is usually a choice between skimming and penetration.

A 10 kg.bag of soil costs Greencorp $6.If management prices the bag at $15,the markup percentage is

Doreen owns a seafood restaurant in Alberta.She would like to have the freshest seafood possible,so her preferred method of delivery would be

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

What is a markup?

Describe the different types of companies specializing in transportation.

What is "markup"?

Understanding the Canadian Business System

Understanding the Environments of Business

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Understanding Marketing Processes and Consumer Behaviour

Developing and Promoting Goods and Services

Understanding Money and Banking

Understanding Securities and Investments

Financial Decisions and Risk Management

Filters

Exam 17: Pricing and Distributing Goods and Services

An intermediary is

Price lining is a tactic used mostly for new products; it requires that prices be set high in order to cover product development and introduction costs.

Which of the following is most likely to be used to establish a new product in a market that already has similar products?

Which of the following retail stores do manufacturers own?

Odd-even pricing involves

Syndicated selling occurs when a website offers other websites a commission for referring customers.

Companies selling products like structural steel,gasoline,and processed foods typically use which of the following pricing strategies?

What is the difference between retailers and wholesalers?

What are pricing objectives?

Identify two strategies for pricing new products.

Online retail sales in Canada in 2011 were approximately $____ billion,which was ____percent of total retail sales.

When Vancouver-based Uniglobe Travel International books flight reservations,it is an illustration of which channel of distribution?

Vertical marketing systems were developed to overcome the problems caused by channel conflict.

Pricing new products is usually a choice between skimming and penetration.

A 10 kg.bag of soil costs Greencorp $6.If management prices the bag at $15,the markup percentage is

Doreen owns a seafood restaurant in Alberta.She would like to have the freshest seafood possible,so her preferred method of delivery would be

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

What is a markup?

Describe the different types of companies specializing in transportation.

What is "markup"?

Understanding the Canadian Business System

Understanding the Environments of Business

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Understanding Marketing Processes and Consumer Behaviour

Developing and Promoting Goods and Services

Understanding Money and Banking

Understanding Securities and Investments

Financial Decisions and Risk Management

Filters

Online retail sales in Canada in 2011 were approximately $ billion,which was percent of total retail sales.