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CEOE Marketing: Pricing Strategies Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. A demand chart or schedule is the _____

Question 2 2. Next day delivery would be an example of?

Question 3 3. Why would an airline company utilize a status quo pricing strategy?

Question 4 4. You and your sales associates are having a brainstorming session. One of the sales associates suggests that charging a low price for the company's product initially will help to capture the largest market share from your target market. How should you price your product?

Question 5 5. What pricing objective entails focusing on value and the customer's expectations?

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Question 6 6. What type of pricing strategy offers one price and avoids constant sales discounts and price changes?

Question 7 7. Solve 33.56 - 21.824

Question 8 8. How does a company calculate one unit of production?

Question 9 9. What is the price against which buyers compare the sales price of the product to the actual price?

Question 10 10. Carlos bought a new laptop using a store's credit card, and the store offered to reduce the laptop's price by $50 if he paid the entire bill within 6 months. This is an example of a _____ discount.

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Question 11 11. Katerine works at a large catering company. When Katerine gave her boss, Joe, a report on what the competition was doing he said he wasn't interested in that or even the profit, that his only goal was to increase how many products people purchase. What is this strategy called?

Question 12 12. Which pricing type's ultimate goal is to reach a particular level of profit by using price to get sales that produce a certain profit per unit?

Question 13 13. What is the result when the marginal cost (MC) is less than the average variable cost (AVC)?

Question 14 14. Which of the following describes profit maximization pricing?

Question 15 15. Which type of pricing strategy depends on promotions/sales to temporarily reduce prices?

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Question 16 16. Inflation is defined as _____.

Question 17 17. What is used to reward customer loyalty and encourage large purchase amounts?

Question 18 18. When products are stocked on a special display at the end of an aisle, the manufacturer is probably offering a _____ discount to the retailer.

Question 19 19. Your company is experiencing some financial difficulties and needs to increase its profits soon. Which of the following should it NOT do in order to increase profits?

Question 20 20. Which 'P' of the marketing mix has the most flexibility to change?

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Question 21 21. Solve 170.63/1.13

Question 22 22. If a product has a strong unique advantage that is not easily copied, how should it be priced?

Question 23 23. What is the difference between 'average total cost' (ATC) and 'average variable cost' (AVC)?

Question 24 24. The purpose of _____ is to communicate the customers that they are receiving a great value for their money.

Question 25 25. What objective concerns with specific rates of profit and use pricing strategies to get to a measurable return on investment to placate stockholders?

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Question 26 26. A supply and demand chart or schedule is the _____

Question 27 27. If there is another leader in the industry, a company might decide to match the leader's pricing. Otherwise, it will maintain current prices. What is this strategy called?

Question 28 28. A refund that is given for the purchase of a product during a certain time frame is called a _____.

Question 29 29. Which of the following is NOT one of the 4 P's of the marketing mix?

Question 30 30. If a butter manufacturer raises prices by 10% and the quantity of butter demanded by consumers falls 20%, this would be an example of _____.

CEOE Marketing: Pricing Strategies Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

OSAT Marketing Education (CEOE) (041): Practice & Study Guide  /  Business Courses
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