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Selling and Pricing Strategy 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. Airline companies tend to utilize what type of pricing decision?

Question 2 2. Offering a free movie ticket with the purchase of hotel room is an example of which type of pricing strategy?

Question 3 3. Which of the following is NOT one of the 4 P's of the marketing mix?

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

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Question 6 6. 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 7 7. Investing a large amount of time in preparing a sales plan is an example of _____.

Question 8 8. How will Advance Electronics implement a price skimming strategy when it introduces its' new game box?

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

Question 10 10. A period of reduced economic activity is called a(n) _____.

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Question 11 11. What is the result when the marginal cost (MC) is less than the average variable cost (AVC)?

Question 12 12. Which of the following is NOT a reason for personal selling to be used?

Question 13 13. 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 14 14. Why would an airline company utilize a status quo pricing strategy?

Question 15 15. 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 16 16. 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 17 17. Which objective concerns specific rates of profit and using pricing strategies to get to a measurable return on investment to placate stockholders?

Question 18 18. Which of the following describes profit maximization pricing?

Question 19 19. What type of pricing strategy offers one price and avoids constant sales discounts and price changes?

Question 20 20. A refund that is given for the purchase of a product during a certain time frame is called a _____.

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Question 21 21. Which type of pricing method determines the sales volume that must be reached before total revenue equals total costs?

Question 22 22. 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 23 23. 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 24 24. 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 25 25. Which type of discount helps to create a steady demand stream of product for the manufacturer?

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Question 26 26. How does a company calculate one unit of production?

Question 27 27. What is sales-oriented pricing based on?

Question 28 28. Why is a pricing strategy important?

Question 29 29. If a product has a strong unique advantage that is not easily copied, how should it be priced?

Question 30 30. Inflation is defined as _____.

Selling and Pricing Strategy 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 102: Principles of Marketing  /  Business Courses
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