Question 1

By stocking a new,highly visible line of shampoos priced lower than local stores,Jack is trying to increase

Accepted Answer

A)  the quality of hair of the youth in the area. 
B)  the break-even point. 
C)  yield management. 
D)  fixed costs so that the variable costs would decrease. 
E)  his market share of the hair product market. 
A)  the quality of hair of the youth in the area. 
B)  the break-even point. 
C)  yield management. 
D)  fixed costs so that the variable costs would decrease. 
E)  his market share of the hair product market.

Question 2

________ help internet consumers by gathering and sorting information on comparison products and product features.

Accepted Answer

A)  Electronic retailers 
B)  Direct-response sellers 
C)  Syndicated sellers 
D)  E-agents 
E)  Cybermalls 
A)  Electronic retailers 
B)  Direct-response sellers 
C)  Syndicated sellers 
D)  E-agents 
E)  Cybermalls

Question 3

Which type of retailing activity is most likely to be found in a suburban shopping mall?

Accepted Answer

A)  Convenience stores 
B)  Specialty stores 
C)  Video marketing stores 
D)  Wholesalers 
E)  Factory outlets 
A)  Convenience stores 
B)  Specialty stores 
C)  Video marketing stores 
D)  Wholesalers 
E)  Factory outlets

Question 4

Individuals and firms,other than the producers,who participate in a product's distribution are known as intermediaries.

Accepted Answer

A) True 
 B)False

Question 5

A video store owner would begin to price DVDs by taking into consideration all of the following costs except

Accepted Answer

A)  market share objectives. 
B)  utilities and insurance. 
C)  store rent and staff salaries. 
D)  product displays. 
E)  cost of buying DVDs from the manufacturer. 
A)  market share objectives. 
B)  utilities and insurance. 
C)  store rent and staff salaries. 
D)  product displays. 
E)  cost of buying DVDs from the manufacturer.

Question 6

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 7

Pricing below prevailing market price can succeed for a firm if

Accepted Answer

A)  the firm has effective promotional tactics and gimmicks. 
B)  the firm can effectively criticize its competitors' products. 
C)  the firm can offer a product of acceptable quality. 
D)  the public doesn't learn that the firm's product is indeed inferior. 
E)  none of these. 
A)  the firm has effective promotional tactics and gimmicks. 
B)  the firm can effectively criticize its competitors' products. 
C)  the firm can offer a product of acceptable quality. 
D)  the public doesn't learn that the firm's product is indeed inferior. 
E)  none of these.

Question 8

Sally is selling bracelets for $16.00 and the markup is $6.40.What is the markup percentage?

Accepted Answer

A)  40% 
B)  12.5% 
C)  19.6% 
D)  36.4% 
E)  54% 
A)  40% 
B)  12.5% 
C)  19.6% 
D)  36.4% 
E)  54%

Question 9

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 10

The use of the telephone to sell directly to consumers is called

Accepted Answer

A)  telemarketing. 
B)  mail marketing. 
C)  mail order. 
D)  direct selling. 
E)  electronic retailing. 
A)  telemarketing. 
B)  mail marketing. 
C)  mail order. 
D)  direct selling. 
E)  electronic retailing.

Question 11

Laura's company has purchased bulk space from a trucking company.Once they have sold that space to their customers,Laura's company will pick up the merchandise,deliver it to the bulk shipper and then bill its clients for the shipments.Laura's company is a(n)________.

Accepted Answer

A)  common carrier 
B)  freight forwarder 
C)  intermodal carrier 
D)  contract carrier 
E)  private carrier 
A)  common carrier 
B)  freight forwarder 
C)  intermodal carrier 
D)  contract carrier 
E)  private carrier

Question 12

Sara Jane is selling posters at the sale price of $12.00,and the markup percent is 35%.What is the dollar amount of the markup?

Accepted Answer

A)  $7.80 
B)  $4.20 
C)  $7.75 
D)  $3.50 
E)  none of these 
A)  $7.80 
B)  $4.20 
C)  $7.75 
D)  $3.50 
E)  none of these

Question 13

If total fixed costs are $300 000,the product is sold for $20,and the variable cost is $10,the break-even point is 10 000 units.

Accepted Answer

A) True 
 B)False

Question 14

What is the purpose of using break-even analysis when attempting to set prices?

Accepted Answer

A)  To determine the total costs of the product 
B)  To show the cost,volume,and profit relationships 
C)  To compare demand and supply 
D)  To reflect the markup needed to make a profit 
E)  To show the costs which must be considered in setting prices 
A)  To determine the total costs of the product 
B)  To show the cost,volume,and profit relationships 
C)  To compare demand and supply 
D)  To reflect the markup needed to make a profit 
E)  To show the costs which must be considered in setting prices

Question 15

Identify three types of bargain retailers.

Accepted Answer

Discount houses,cata

Question 16

When is discounting used to set prices?

Accepted Answer

A)  When attempting to stimulate sales 
B)  When odd-even psychological pricing is not successful 
C)  When conducting a break-even analysis 
D)  When a price-skimming strategy is used 
E)  When profit margins are too low 
A)  When attempting to stimulate sales 
B)  When odd-even psychological pricing is not successful 
C)  When conducting a break-even analysis 
D)  When a price-skimming strategy is used 
E)  When profit margins are too low

Question 17

Channel conflict occurs when manufacturers and customers disagree over which retail outlets should carry the manufacturer's goods and what prices should be charged for the goods.

Accepted Answer

A) True 
 B)False

Question 18

A factory outlet is a retail store owned by the manufacturer that bypasses the normal wholesalers and retailers.

Accepted Answer

A) True 
 B)False

Question 19

Through ________,goods are sealed in standardized heavy-duty packages and opened when they reach their final destinations.

Accepted Answer

A)  common carrier 
B)  intermodal transportation 
C)  unitization 
D)  containerization 
E)  freight forwarding 
A)  common carrier 
B)  intermodal transportation 
C)  unitization 
D)  containerization 
E)  freight forwarding

Question 20

What results can be expected if Trimar Videos uses a price-skimming strategy to price its video equipment?

Accepted Answer

A)  It may allow the firm to earn a large profit on each unit of sales of the product. 
B)  It will generate a lot of trial purchases of the product. 
C)  It will generate a lot of consumer interest. 
D)  It permits the firm to gain entrance to a market and then later adjust the price to a more realistic figure. 
E)  It will result in price-fixing charges by the government. 
A)  It may allow the firm to earn a large profit on each unit of sales of the product. 
B)  It will generate a lot of trial purchases of the product. 
C)  It will generate a lot of consumer interest. 
D)  It permits the firm to gain entrance to a market and then later adjust the price to a more realistic figure. 
E)  It will result in price-fixing charges by the government.

By stocking a new,highly visible line of shampoos priced lower than local stores,Jack is trying to increase

________ help internet consumers by gathering and sorting information on comparison products and product features.

Which type of retailing activity is most likely to be found in a suburban shopping mall?

Individuals and firms,other than the producers,who participate in a product's distribution are known as intermediaries.

A video store owner would begin to price DVDs by taking into consideration all of the following costs except

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

Pricing below prevailing market price can succeed for a firm if

Sally is selling bracelets for $16.00 and the markup is $6.40.What is the markup percentage?

All of the following are advantages of plane transportation except

The use of the telephone to sell directly to consumers is called

Laura's company has purchased bulk space from a trucking company.Once they have sold that space to their customers,Laura's company will pick up the merchandise,deliver it to the bulk shipper and then bill its clients for the shipments.Laura's company is a(n)________.

Sara Jane is selling posters at the sale price of $12.00,and the markup percent is 35%.What is the dollar amount of the markup?

If total fixed costs are $300 000,the product is sold for $20,and the variable cost is $10,the break-even point is 10 000 units.

What is the purpose of using break-even analysis when attempting to set prices?

Identify three types of bargain retailers.

When is discounting used to set prices?

Channel conflict occurs when manufacturers and customers disagree over which retail outlets should carry the manufacturer's goods and what prices should be charged for the goods.

A factory outlet is a retail store owned by the manufacturer that bypasses the normal wholesalers and retailers.

Through ________,goods are sealed in standardized heavy-duty packages and opened when they reach their final destinations.

What results can be expected if Trimar Videos uses a price-skimming strategy to price its video equipment?

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

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Exam 17: Pricing and Distributing Goods and Services

By stocking a new,highly visible line of shampoos priced lower than local stores,Jack is trying to increase

________ help internet consumers by gathering and sorting information on comparison products and product features.

Which type of retailing activity is most likely to be found in a suburban shopping mall?

Individuals and firms,other than the producers,who participate in a product's distribution are known as intermediaries.

A video store owner would begin to price DVDs by taking into consideration all of the following costs except

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

Pricing below prevailing market price can succeed for a firm if

Sally is selling bracelets for $16.00 and the markup is $6.40.What is the markup percentage?

All of the following are advantages of plane transportation except

The use of the telephone to sell directly to consumers is called

Laura's company has purchased bulk space from a trucking company.Once they have sold that space to their customers,Laura's company will pick up the merchandise,deliver it to the bulk shipper and then bill its clients for the shipments.Laura's company is a(n)________.

Sara Jane is selling posters at the sale price of $12.00,and the markup percent is 35%.What is the dollar amount of the markup?

If total fixed costs are $300 000,the product is sold for $20,and the variable cost is $10,the break-even point is 10 000 units.

What is the purpose of using break-even analysis when attempting to set prices?

Identify three types of bargain retailers.

When is discounting used to set prices?

Channel conflict occurs when manufacturers and customers disagree over which retail outlets should carry the manufacturer's goods and what prices should be charged for the goods.

A factory outlet is a retail store owned by the manufacturer that bypasses the normal wholesalers and retailers.

Through ________,goods are sealed in standardized heavy-duty packages and opened when they reach their final destinations.

What results can be expected if Trimar Videos uses a price-skimming strategy to price its video equipment?

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