Selling and Pricing Strategy: Help and Review 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. Part of the personal selling process is generating leads. How can a business generate leads?

Question 2 2. 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 3 3. What is sales-oriented pricing based on?

Question 4 4. What strategy consists of charging a high introductory price in tandem with heavy promotion and later slowly dropping the price?

Question 5 5. Which of the following is NOT one of the 4 P's of the marketing mix?

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Question 6 6. After the farmer generates leads to sell his flowers, what step in the sales process should he use next?

Question 7 7. What pricing objective entails focusing on value and the customer's expectations?

Question 8 8. A supply and demand chart or schedule is the _____

Question 9 9. 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 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. 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 12 12. What is the difference between 'average total cost' (ATC) and 'average variable cost' (AVC)?

Question 13 13. What type of pricing strategy offers one price and avoids constant sales discounts and price changes?

Question 14 14. The ultimate goal of a traditional sales methodology is to _____.

Question 15 15. Airline companies tend to utilize what type of pricing decision?

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Question 16 16. 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 17 17. What type of pricing strategy is Speedy Cellular using when it introduces a new smartphone at a price below all of its competitors ?

Question 18 18. When the final selling price reflects cost increases occurred between the time the order is placed and the time it is delivered, _____ has occurred.

Question 19 19. Which 'P' of the marketing mix has the most flexibility to change?

Question 20 20. Which type of discount helps to create a steady demand stream of product for the manufacturer?

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Question 21 21. Which of the following is NOT a reason for personal selling to be used?

Question 22 22. Why is a pricing strategy important?

Question 23 23. 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 24 24. Which type of pricing strategy depends on promotions/sales to temporarily reduce prices?

Question 25 25. 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?

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Question 26 26. Which of the following describes profit maximization pricing?

Question 27 27. 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 28 28. Inflation is defined as _____.

Question 29 29. When the farmer is ready to close the deal, what should he do next?

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?

Selling and Pricing Strategy: Help and Review 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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