Pricing Strategy in Marketing: Homework Help 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. Personal selling is _____.

Question 2 2. What type of pricing strategy is Speedy Cellular using when it introduces a new smartphone at a price below all of its competitors ?

Question 3 3. What is used to reward customer loyalty and encourage large purchase amounts?

Question 4 4. The ultimate goal of a traditional sales methodology is to _____.

Question 5 5. Which type of discount helps to create a steady demand stream of product for the manufacturer?

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Question 6 6. 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 7 7. What is the result when the marginal cost (MC) is less than the average variable cost (AVC)?

Question 8 8. One of the toy company's products is a baby item that simulates a car driving. It can be attached to a crib to help soothe babies to sleep. No other product like this is available. What type of demand would this product likely have?

Question 9 9. 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 10 10. Which type of pricing method determines the sales volume that must be reached before total revenue equals total costs?

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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. Sal is a sales manager who knows exactly how many cars his people need to sell on a specific day to meet month end quota. His morning sales meeting will stress achieving the short term goal by traditional means. He will do this by asking his salespeople to _____.

Question 13 13. A demand chart or schedule is the _____

Question 14 14. 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.

Question 15 15. A supply and demand chart or schedule is the _____

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Question 16 16. Offering a free movie ticket with the purchase of hotel room is an example of which type of pricing strategy?

Question 17 17. If a product has a strong unique advantage that is not easily copied, how should it be priced?

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

Question 20 20. When the final selling price reflects cost increases occurred between the time the order is placed and the time it is delivered, _____ has occurred.

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Question 21 21. Which of the following is NOT one of the 4 P's of the marketing mix?

Question 22 22. Which of the following is NOT a reason for personal selling to be used?

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

Question 24 24. A refund that is given for the purchase of a product during a certain time frame is called a _____.

Question 25 25. How will Advance Electronics implement a price skimming strategy when it introduces its' new game box?

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Question 26 26. Jill has just accepted a position selling phones for a major carrier. While she is interested in meeting her sales quotas, she knows that in order to get repeat business and meet her long term career goals she needs to practice _____.

Question 27 27. What is the price against which buyers compare the sales price of the product to the actual price?

Question 28 28. How does a company calculate one unit of production?

Question 29 29. Before showing a couple that's looking for a new car any vehicles, Cal wants to implement relationship selling into his presentation. How will he do this?

Question 30 30. Which objective concerns specific rates of profit and using pricing strategies to get to a measurable return on investment to placate stockholders?

Pricing Strategy in Marketing: Homework Help 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!

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