Selling & 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. Investing a large amount of time in preparing a sales plan is an example of _____.

Question 2 2. Which of the following is NOT a reason for personal selling to be used?

Question 3 3. A supply and demand chart or schedule is the _____

Question 4 4. 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 5 5. Which of the following describes profit maximization pricing?

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Question 6 6. A period of reduced economic activity is called a(n) _____.

Question 7 7. What is sales-oriented pricing based on?

Question 8 8. What is the price against which buyers compare the sales price of the product to the actual price?

Question 9 9. When the farmer is ready to close the deal, what should he do next?

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

Question 13 13. 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 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. Part of the personal selling process is generating leads. How can a business generate leads?

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Question 16 16. How does a company calculate one unit of production?

Question 17 17. 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 18 18. What strategy consists of charging a high introductory price in tandem with heavy promotion and later slowly dropping the price?

Question 19 19. How will Advance Electronics implement a price skimming strategy when it introduces its' new game box?

Question 20 20. Inflation is defined as _____.

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Question 21 21. The ultimate goal of a traditional sales methodology is to _____.

Question 22 22. Offering a free movie ticket with the purchase of hotel room is an example of which type of pricing strategy?

Question 23 23. Which objective concerns specific rates of profit and using pricing strategies to get to a measurable return on investment to placate stockholders?

Question 24 24. Why would an airline company utilize a status quo pricing strategy?

Question 25 25. Which type of pricing method determines the sales volume that must be reached before total revenue equals total costs?

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Question 26 26. If a product has a strong unique advantage that is not easily copied, how should it be priced?

Question 27 27. What type of pricing strategy is Speedy Cellular using when it introduces a new smartphone at a price below all of its competitors ?

Question 28 28. A demand chart or schedule is the _____

Question 29 29. 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 30 30. What is used to reward customer loyalty and encourage large purchase amounts?

Selling & 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!

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