Exam 18: Pricing Concepts

You are head of sales and marketing for your cowboy boots manufacturing firm.It has been a chaotic product year,with a great deal of input from many stakeholders: consumer advocacy groups,employees,competitors,and shareholders.You are meeting with the CEO to establish pricing objectives for the upcoming product year. Required: Which of the following factors will you consider as you establish your firm's pricing objectives?

(Multiple Choice)

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Question 141

Short-run or long-run pricing objectives of achieving a specified return on either sales or investment are known as _____ objectives.

(Multiple Choice)

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Question 142

Which of the following is true of the Robinson-Patman Act?

(Multiple Choice)

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Question 143

State fair-trade laws were made invalid by the enactment of the Consumer Goods Pricing Act of 1975.

(True/False)

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Question 144

Companies can avoid penalties under the Robinson-Patman Act as long as they can demonstrate that their price discounts and promotional allowances restrict competition.

(True/False)

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Question 145

Total revenue is determined by multiplying the product's selling price and the number of units sold.

(True/False)

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Question 146

Pricing can be used to modify consumer behavior.

(True/False)

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Question 147

The Miller-Tydings Resale Price Maintenance Act (1937)exempted interstate fair-trade contracts from compliance with antitrust requirements,thus freeing states to keep these laws on their books if they so desired.

(True/False)

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Question 148

The supply side of the pricing equation focuses on revenue curves.

(True/False)

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Question 149

Modified breakeven analysis forces the marketer to consider whether the consumer is likely to purchase the number of units of a good or service required for achieving breakeven at a given price.

(True/False)

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Question 150

Prices of electronic equipment and automobiles tend to fluctuate far less than prices of crops such as sugarcane and bananas.

(True/False)

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Question 151

Explain the concept of elasticity of demand.

(Essay)

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Question 152

Which of the following is a practical problem involved in applying price theory concepts to actual pricing decisions?

(Multiple Choice)

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Question 153

Modified breakeven analysis combines the traditional breakeven analysis model with an evaluation of advertising effectiveness to influence consumer purchases.

(True/False)

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Question 154

The most popular method of pricing is _____ pricing.

(Multiple Choice)

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Question 155

Which of the following is a pricing method that attempts to use only those costs that are directly attributable to a specific output in setting prices?

(Multiple Choice)

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Question 156

Your friend works for a hotel in downtown Pittsburgh primarily serving business travelers.Choose all of the following yield management strategies that he is likely to use.

(Multiple Choice)

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Question 157

The breakeven point is the point at which total revenue equals total cost.

(True/False)

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Question 158

The government prohibits regulated monopolies in markets in which competition would lead to an uneconomical duplication of services.

(True/False)

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Question 159

Which of the following is the purpose of adopting a meeting-competition pricing objective?

(Multiple Choice)

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Question 160

Showing 141 - 160 of 240

Short-run or long-run pricing objectives of achieving a specified return on either sales or investment are known as _____ objectives.

Which of the following is true of the Robinson-Patman Act?

State fair-trade laws were made invalid by the enactment of the Consumer Goods Pricing Act of 1975.

Companies can avoid penalties under the Robinson-Patman Act as long as they can demonstrate that their price discounts and promotional allowances restrict competition.

Total revenue is determined by multiplying the product's selling price and the number of units sold.

Pricing can be used to modify consumer behavior.

The Miller-Tydings Resale Price Maintenance Act (1937)exempted interstate fair-trade contracts from compliance with antitrust requirements,thus freeing states to keep these laws on their books if they so desired.

The supply side of the pricing equation focuses on revenue curves.

Modified breakeven analysis forces the marketer to consider whether the consumer is likely to purchase the number of units of a good or service required for achieving breakeven at a given price.

Prices of electronic equipment and automobiles tend to fluctuate far less than prices of crops such as sugarcane and bananas.

Explain the concept of elasticity of demand.

Which of the following is a practical problem involved in applying price theory concepts to actual pricing decisions?

Modified breakeven analysis combines the traditional breakeven analysis model with an evaluation of advertising effectiveness to influence consumer purchases.

The most popular method of pricing is _____ pricing.

Which of the following is a pricing method that attempts to use only those costs that are directly attributable to a specific output in setting prices?

Your friend works for a hotel in downtown Pittsburgh primarily serving business travelers.Choose all of the following yield management strategies that he is likely to use.

The breakeven point is the point at which total revenue equals total cost.

The government prohibits regulated monopolies in markets in which competition would lead to an uneconomical duplication of services.

Which of the following is the purpose of adopting a meeting-competition pricing objective?

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-To-Business B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, wholesalers, and Direct Marketers

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Exam 18: Pricing Concepts

Short-run or long-run pricing objectives of achieving a specified return on either sales or investment are known as _____ objectives.

Which of the following is true of the Robinson-Patman Act?

State fair-trade laws were made invalid by the enactment of the Consumer Goods Pricing Act of 1975.

Companies can avoid penalties under the Robinson-Patman Act as long as they can demonstrate that their price discounts and promotional allowances restrict competition.

Total revenue is determined by multiplying the product's selling price and the number of units sold.

Pricing can be used to modify consumer behavior.

The Miller-Tydings Resale Price Maintenance Act (1937)exempted interstate fair-trade contracts from compliance with antitrust requirements,thus freeing states to keep these laws on their books if they so desired.

The supply side of the pricing equation focuses on revenue curves.

Modified breakeven analysis forces the marketer to consider whether the consumer is likely to purchase the number of units of a good or service required for achieving breakeven at a given price.

Prices of electronic equipment and automobiles tend to fluctuate far less than prices of crops such as sugarcane and bananas.

Explain the concept of elasticity of demand.

Which of the following is a practical problem involved in applying price theory concepts to actual pricing decisions?

Modified breakeven analysis combines the traditional breakeven analysis model with an evaluation of advertising effectiveness to influence consumer purchases.​

The most popular method of pricing is _____ pricing.

Which of the following is a pricing method that attempts to use only those costs that are directly attributable to a specific output in setting prices?

​Your friend works for a hotel in downtown Pittsburgh primarily serving business travelers.Choose all of the following yield management strategies that he is likely to use.

The breakeven point is the point at which total revenue equals total cost.

The government prohibits regulated monopolies in markets in which competition would lead to an uneconomical duplication of services.

Which of the following is the purpose of adopting a meeting-competition pricing objective?

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-To-Business B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, wholesalers, and Direct Marketers

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Modified breakeven analysis combines the traditional breakeven analysis model with an evaluation of advertising effectiveness to influence consumer purchases.

Your friend works for a hotel in downtown Pittsburgh primarily serving business travelers.Choose all of the following yield management strategies that he is likely to use.