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Questions (220)
2) The local convenience store buys Blueberry Fizz, a cold beverage, in 2-liter plastic bottles for $1.00. They use a 50 percent
1 answer
15 views
The local convenience store buys Blueberry Fizz, a cold beverage, in 2-liter plastic bottles for $1.00. They use a 50 percent
1 answer
4 views
The total cost of producing 200 units of a product is $4,000, including a total fixed cost of $1,800. This means that the
1 answer
7 views
Chicago Plumbing Supply is planning to bring a new type of valve to market and is conducting a break-even analysis. For this
1 answer
9 views
Setting prices for a whole line of products is called Blank______.
Multiple choice question. price lining full-line pricing
1 answer
10 views
What type of pricing is being used when customers pay on a periodic basis for access to a product?
Multiple choice question.
1 answer
10 views
Setting prices that have special appeal to target customers is called Blank______ pricing. These prices just seem right to
1 answer
10 views
Setting some very low prices to attract customers, but trying to sell more expensive models or brands to the customer in the
1 answer
8 views
Select all that apply
Which of the following statements are true about marginal analysis? Multiple select question. Managers use
1 answer
8 views
For shopping products, it is common for all prices and value to be Blank______.
Multiple choice question. logically related
1 answer
10 views
Which of these consumers is paying a company based on subscription pricing?
Multiple choice question. Stephanie believes that the
1 answer
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In order to attract customers to visit a retail store, sellers may offer Blank______, or real bargain prices. Sellers hope that
1 answer
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Cal believes that customers in his culinary supply shop find certain prices very appealing. He believes that customers do not
1 answer
10 views
A person who really enjoys reading might have a higher Blank______ for a popular paperback book than another person who is only
1 answer
9 views
A retail store advertises a laptop with an AMD Dual-Core C-50 processor for $325. Once bargain hunters come to the store,
1 answer
12 views
Setting prices that will capture some of what customers will save by substituting the firm's product for the one currently being
1 answer
7 views
What does marginal analysis do?
Multiple choice question. provides precise information about demand. provides precise information
1 answer
10 views
Select all that apply
Which two of the following statements about switching costs are true? Multiple select question. Most
1 answer
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Retail stores that use leader pricing attempt to attract customers by Blank______.
Multiple choice question. offering the widest
1 answer
10 views
Customers are ---- (less/more) price sensitive the greater the significance of the end benefit of the purchase.
1 answer
9 views
The price customers expect to pay for a product is called the Blank______.
Multiple choice question. fair price reference price
1 answer
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Royal Caribbean offers a New Year's Eve cruise for $1,800 per person. In its' advertising, the company focuses on four payments
1 answer
10 views
Michael is a sales rep for a steel manufacturer. He is talking to a customer about the new pricing strategy his firm is using
1 answer
14 views
What is price sensitivity?
Multiple choice question. the amount of money that is charged for something of value the practice of
1 answer
10 views
Deborah is considering finding a new cellphone service provider because her current provider is raising its prices. However, for
1 answer
11 views
Judy and Amy are having lunch together and decide to split the bill equally. Amy ordered more expensive items than she normally
1 answer
9 views
If the end benefit of a purchase has great significance to the consumer, the consumer will probably be Blank______ price
1 answer
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What two conditions would make a customer more price sensitive? (Check all that apply.)
Multiple select question. When they are
1 answer
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William is an organizational buyer for Goodlife Tires. He purchases rubber for Goodlife. There are several suppliers that all
1 answer
14 views
Which of the following choices are factors increasing price sensitivity?
Multiple select question. There are many substitutes.
1 answer
8 views
What does marginal analysis do?
Multiple choice question. discerns the exact shape of the demand curve provides precise
1 answer
12 views
True or False: In general, consumers are less sensitive to price when they share the cost of an item with another person or a
1 answer
12 views
The Blank______ contribution per unit is the assumed selling price per unit minus the variable cost per unit.
Multiple choice
1 answer
7 views
While shopping for toothpaste at her local convenience store, Cassie was able to compare prices on all of the available
1 answer
9 views
A manager seeking Blank______ will select the highest spot on the total profit curve that has the longest vertical distance
1 answer
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Amber feels that there is no substitute for the True Secular brand jeans she is about to buy. What level of price sensitivity
1 answer
9 views
rofit is calculated by determining the difference between Blank______.
Multiple choice question. total cost and total variable
1 answer
7 views
What is price sensitivity?
Multiple choice question. the degree to which customers' purchase decisions are affected by the price
1 answer
8 views
To create a demand estimate, managers often try to determine ---- quantity will be sold ---- a particular price is selected.
1 answer
11 views
Which of the following statements are true about marginal analysis?
Multiple select question. It gives precise pricing and demand
1 answer
14 views
How do the results of a marginal analysis help marketing managers determine the best price for a product?
1 answer
9 views
How do the results of a marginal analysis help marketing managers determine the best price for a product?
Multiple choice
1 answer
9 views
The Blank______ contribution per unit is the assumed selling price per unit minus the variable cost per unit.
Multiple choice
1 answer
7 views
A manager seeking profit ---- will select the highest spot on the total profit curve that has the longest vertical distance
1 answer
9 views
How did Costco's pricing action on jeans draw criticism from Wall Street?
Multiple choice question. Costco failed to pass on its
1 answer
10 views
The difference between total revenue and total cost is called ----.
1 answer
11 views
break-even point
1 answer
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Dividing the total fixed cost by the fixed cost contribution per unit equals Blank______ in units.
Multiple choice question.
1 answer
9 views
In order to determine a demand estimate for a product, a manager will need to try to answer Blank______ questions, which will
1 answer
9 views
The Blank______ is obtained by dividing total cost by the related quantity.
Multiple choice question. total fixed cost average
1 answer
8 views
A pricing tool that focuses on the changes in total revenue and total cost from selling one more unit to find the most
1 answer
7 views
Two examples of total fixed cost expenses include Blank______ costs. (Check all that apply.)
Multiple select question. parts rent
1 answer
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The break-even point is found by dividing total fixed costs by Blank______.
Multiple choice question. fixed variable costs final
1 answer
7 views
How does a manager determine the average cost per unit for a product?
Multiple choice question. By calculating the markup percent
1 answer
10 views
When criticized for how it sold jeans, how did Costco justify its actions?
Multiple choice question. The company was maximizing
1 answer
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The quantity where the firm's total cost just equals its total revenue is called the Blank______.
Multiple choice question. sales
1 answer
9 views
How can a large retailer increase profits by reducing the markup on a fast-selling product?
Multiple choice question. by selling
1 answer
11 views
How is the average cost (per unit) calculated?
Multiple choice question. Dividing total cost by related quantity Adding total
1 answer
9 views
If a markup is too high, it can Blank______ demand for the product and have a negative impact on profit.
Multiple choice
1 answer
11 views
The sum of those costs that are fixed in total, regardless of how much is produced, is called the total Blank______.
Multiple
1 answer
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What is the function of a markup chain?
Multiple choice question. It causes higher prices in shorter channel systems. It sets the
1 answer
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Adding a reasonable markup to the average cost of a product is called Blank______.
Multiple choice question. average-cost pricing
1 answer
9 views
Why do some companies use the same markup percent as each other?
Multiple choice question. Because their operating expenses are
1 answer
8 views
How did Costco's pricing action on jeans draw criticism from Wall Street?
Multiple choice question. Costco failed to pass on its
1 answer
10 views
A(n) Blank______ is the percentage of the cost that is added to the cost to get the selling price.
Multiple choice question.
1 answer
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How does stockturn rate interact with markups to determine profit?
Multiple choice question. Products with higher stockturn rates
1 answer
7 views
A dollar amount added to the cost of products to get the selling price is called a(n) Blank______.
Multiple choice question.
1 answer
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True or false: Large markups always mean large profits.
1 answer
10 views
What are the two basic approaches to price setting?
Multiple choice question. Cost-oriented and demand-oriented Brand-oriented
1 answer
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The sequence of markups firms use at different levels in a channel is referred to as a Blank______.
Multiple choice question.
1 answer
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Why do some companies use standard markup percent?
Multiple choice question. To avoid losing money due to the stockturn rate To
1 answer
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True or false: Markups are related to selling price mostly for convenience.
1 answer
9 views
What are two reasons companies would add a markup to the cost of products that they have purchased from wholesalers? (Check all
1 answer
9 views
Of the two basic approaches to setting prices, Blank______ is the most common.
Multiple choice question. cost-oriented
1 answer
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When competitors get together to raise, lower, or stabilize prices, it is called Blank______.
Multiple choice question. price
1 answer
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The FTC provision that bans "unfair or deceptive acts in commerce" is called the Blank______.
Multiple choice question. Sherman
1 answer
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In an effort to maintain competition, state governments often establish Blank______ to regulate pricing.
Multiple choice
1 answer
11 views
Legislative acts that put a lower limit on prices are known as Blank______.
Multiple choice question. trade support laws unfair
1 answer
18 views
How does product pricing influence customer perceptions of product quality?
Multiple choice question. Customers often associate
1 answer
19 views
In the United States, price fixing is considered Blank______.
Multiple choice question. illegal legal
1 answer
20 views
The benchmark price reflects the Blank______.
Multiple choice question. average price of all competitors in the market discounted
1 answer
14 views
The Wheeler-Lea Act does which of the following?
Multiple choice question. Helps regulators set prices Bans dumping Defines
1 answer
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When suppliers want to see their products displayed prominently on store shelves, they offer retailers Blank______ allowances.
Mu
1 answer
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When there is too little Blank______, state governments have the power, in certain industries, to control prices.
Multiple choice
1 answer
16 views
What two things must be clearly defined when making price decisions and using value pricing?
Multiple select question. Relevant
1 answer
16 views
True or false: Unfair trade practice acts are found in all 50 of the United States.
1 answer
19 views
When stores offer a temporary discount from a product's list price, they sell it at a Blank______.
Multiple choice question. sale
1 answer
14 views
What risk does a producer take when pricing a product too far below competing products?
Multiple choice question. Customers may
1 answer
15 views
When a customer returns a used product and purchases a similar new product, price reductions called Blank______ allowances are
1 answer
16 views
A price Blank______ is the percentage by which a price exceeds or falls short of a benchmark price.
Multiple choice question.
1 answer
11 views
Push money allowances are also known as which two of the following? (Check all that apply.)
Multiple select question. Spots
1 answer
18 views
Stocking allowances are also known as ---- allowances.
1 answer
7 views
In using value pricing, it is important to clearly define the relevant target market and the ----.
1 answer
9 views
The prices that customers are typically charged for products are known as Blank______ list prices.
Multiple choice question.
1 answer
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To purchase an item that is on sale, customers need to buy Blank______.
Multiple choice question. when the seller wants to sell
1 answer
9 views
Suppliers offer advertising allowances to firms in exchange for Blank______.
Multiple choice question. future payment promotion
1 answer
8 views
Marketing managers can use trade-in allowances to lower the effective price of a product without Blank______.
Multiple choice
1 answer
7 views
An allowance is best described as a(n) Blank______.
Multiple choice question. rebate discount tax tariff
1 answer
13 views
To encourage retailers' salesclerks to aggressively sell certain items, manufacturers or wholesalers may give retailers
1 answer
9 views
Which of the following statements are true about flexible pricing determined by salespeople?
Multiple select question.
1 answer
10 views
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