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Pricing Strategy in Marketing 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. What is the price against which buyers compare the sales price of the product to the actual price?

Question 2 2. Which objective concerns specific rates of profit and using pricing strategies to get to a measurable return on investment to placate stockholders?

Question 3 3. Recession pricing tactics include:

Question 4 4. If a butter manufacturer raises prices by 10% and the quantity of butter demanded by consumers falls 20%, this would be an example of _____.

Question 5 5. A refund that is given for the purchase of a product during a certain time frame is called a _____.

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Question 6 6. What type of discount is based on distribution assistance?

Question 7 7. The total variable cost divided by quantity of output is known as:

Question 8 8. The steps of personal selling are also known as the:

Question 9 9. A supply and demand chart or schedule is the _____

Question 10 10. 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?

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Question 11 11. The type(s) of pricing strategy(-ies) include(s):

Question 12 12. The end result of corporate price strategies and decisions should be:

Question 13 13. Investing a large amount of time in preparing a sales plan is an example of _____.

Question 14 14. 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 15 15. This is concerned with solving customer product needs and delivering long-term customer service:

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Question 16 16. What is used to reward customer loyalty and encourage large purchase amounts?

Question 17 17. Which type of discount helps to create a steady demand stream of product for the manufacturer?

Question 18 18. Prices in general do fluctuate but eventually always end up at the _ of supply equaling demand.

Question 19 19. Price will impact not only consumer perception but also and .

Question 20 20. If a product has a strong unique advantage that is not easily copied, how should it be priced?

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Question 21 21. Pricing is the of the overall marketing mix because it can be increased or lowered at any time

Question 22 22. 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 23 23. What pricing objective entails focusing on value and the customer's expectations?

Question 24 24. Which of the following is NOT a reason for personal selling to be used?

Question 25 25. What is the price at which demand and supply are equal?

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Question 26 26. What type of pricing strategy offers one price and avoids constant sales discounts and price changes?

Question 27 27. How does a company calculate one unit of production?

Question 28 28. What type of pricing strategy is Speedy Cellular using when it introduces a new smartphone at a price below all of its competitors ?

Question 29 29. After the farmer generates leads to sell his flowers, what step in the sales process should he use next?

Question 30 30. Which type of pricing strategy depends on promotions/sales to temporarily reduce prices?

Pricing Strategy in Marketing 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!

Business 100: Intro to Business  /  Business Courses
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