Quiz Step by Step 3' Business - Marketing

Free

Which of the following is a cost-plus pricing strategy through which a retailer doubles the cost of the item to determine the price?

2

Free

Which of the following is an example of a pricing strategy that focuses on customers' needs?

3

Free

A firm is using ________ when it charges a high, premium price for a new product with the intention of reducing the price in the future.

4

Free

What is vertical integration, and how does it affect a retailer's pricing?

5

Free

In which type of pricing is the selling price based on an estimate of volume or quantity a firm can sell in different markets at different prices?

6

A break-even analysis helps marketers understand the relationship between price and demand.

7

Variable costs for producing textbooks include the price of paper.

8

With target costing, marketers first ________ and then ________.

9

Which of the following is an advantage of using cost-based pricing methods?

10

The Credit Card Responsibility and Disclosure Act and the Affordable Care Act are both examples of government regulations that directly affect prices.

11

Sellers should know that the less elastic the demand for their product, the more advantageous it is for them to ________.

12

The manufacturer's suggested retail price is also referred to as the ________.

13

Inflation may cause marketers to decide to either raise or decrease their prices.

14

Which of the following statements is true of supply chain management in today's marketplace?

15

Which of the following is an example of a variable cost for an amusement park?

16

When products are complements, an increase in the price of one decreases the demand for the other.

17

When Joe's Coffee Nook raised the price of a latte, Joe noticed a substantial change in his daily latte sales. A price reduction caused his sales to increase. From this information, you can assume the demand for lattes is ________.

18

To determine the break-even point, a firm needs to first do which of the following?

19

For a company that manufactures plastic signs, the printing press to make the signs, the manager's salary, and the utilities are all examples of ________.

20

A demand curve never appears on a graph as a straight line.

21

When orange juice attempted to expand the various times of day when consumers would see orange juice as an appropriate beverage to consume, they were trying to influence which situation?

22

Home Depot has an iOS program that allows users to match colors in photographs with the store's selection of carpets. This is an example of a(n)

23

Uber and Airbnb are both examples of the consumer trend of ________.

24

Which of the following consumer trends is a response to the frequent reports of terrorism and political unrest?

25

Many people rely on a prescription drug to control their cholesterol. An increase in the price of the drug would have little effect on the quantity demanded because there are no substitutes for the drug and because people who take it have no choice but to continue taking it if they wish to stay healthy. The demand for the cholesterol drug is ________.

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Quiz Step by Step 3' Business - Marketing

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