Question 1 <\/b>(2 points)<\/p>\n
Vac “N’ Sew will give customers $100 for a used vacuum cleaner, regardless of condition, when they purchase a new vacuum or sewing machine. This essentially reduces the price by $100. What is this type of discount called?<\/p>\n
Question 1 options:<\/p>\n
a) <\/p>\n
functional discount<\/p>\n
b) <\/p>\n
captive product discount<\/p>\n
c) <\/p>\n
seasonal discount<\/p>\n
d) <\/p>\n
trade-in allowance<\/p>\n
e) <\/p>\n
by-product allowance<\/p>\n
Save<\/p>\n
Question 2 <\/b>(2 points)<\/p>\n
With product bundle pricing, sellers can combine several products and offer the bundle ________.<\/p>\n
Question 2 options:<\/p>\n
a) <\/p>\n
as a working unit<\/p>\n
b) <\/p>\n
at a reduced price<\/p>\n
c) <\/p>\n
as a complete self-service package<\/p>\n
d) <\/p>\n
as a reward to loyal customers<\/p>\n
e) <\/p>\n
as segmented pricing<\/p>\n
Save<\/p>\n
Question 3 <\/b>(2 points)<\/p>\n
________ refers to selling below cost with the intention of punishing a competitor or gaining higher long-run profits by putting competitors out of business.<\/p>\n
Question 3 options:<\/p>\n
a) <\/p>\n
Oligopolistic pricing<\/p>\n
b) <\/p>\n
Captive pricing<\/p>\n
c) <\/p>\n
Dynamic pricing<\/p>\n
d) <\/p>\n
Zone pricing<\/p>\n
e) <\/p>\n
Predatory pricing<\/p>\n
Save<\/p>\n
Question 4 <\/b>(2 points)<\/p>\n
Qriosity Inc. comes out with a new antivirus program and prices it at half price to attract buyers. The company is using ________.<\/p>\n
Question 4 options:<\/p>\n
a) <\/p>\n
marketing-skimming pricing<\/p>\n
b) <\/p>\n
market-penetration pricing<\/p>\n
c) <\/p>\n
value-added pricing<\/p>\n
d) <\/p>\n
reference pricing<\/p>\n
e) <\/p>\n
promotional allowances<\/p>\n
Save<\/p>\n
Question 5 <\/b>(2 points)<\/p>\n
A company sets not just a single price, but rather a ________ that covers different items in its line that change over time as products move through their life cycles.<\/p>\n
Question 5 options:<\/p>\n
a) <\/p>\n
pricing by-product<\/p>\n
b) <\/p>\n
pricing structure<\/p>\n
c) <\/p>\n
pricing loop<\/p>\n
d) <\/p>\n
pricing cycle<\/p>\n
e) <\/p>\n
pricing bundle<\/p>\n
Save<\/p>\n
Question 6 <\/b>(2 points)<\/p>\n
The relationship between the price charged and the resulting demand level can be shown as the ________.<\/p>\n
Question 6 options:<\/p>\n
a) <\/p>\n
demand curve<\/p>\n
b) <\/p>\n
supply curve<\/p>\n
c) <\/p>\n
cost curve<\/p>\n
d) <\/p>\n
break-even chart<\/p>\n
e) <\/p>\n
inflation rate<\/p>\n
Save<\/p>\n
Question 7 <\/b>(2 points)<\/p>\n
When a manufacturer offers a ________, customers buy products from manufacturers’ dealers within a specified time period and the manufacturer sends the customer a check.<\/p>\n
Question 7 options:<\/p>\n
a) <\/p>\n
cash rebate<\/p>\n
b) <\/p>\n
markup price<\/p>\n
c) <\/p>\n
dealer reduction<\/p>\n
d) <\/p>\n
flash sale<\/p>\n
e) <\/p>\n
functional discount<\/p>\n
Save<\/p>\n
Question 8 <\/b>(2 points)<\/p>\n
Rent, electricity, and executive salaries are examples of ________ costs.<\/p>\n
Question 8 options:<\/p>\n
a) <\/p>\n
fixed<\/p>\n
b) <\/p>\n
variable<\/p>\n
c) <\/p>\n
break-even<\/p>\n
d) <\/p>\n
target<\/p>\n
e) <\/p>\n
marketing<\/p>\n
Save<\/p>\n
Question 9 <\/b>(2 points)<\/p>\n
________ prices are the prices that a buyer carries in his\/her mind and refers to when looking at a given product.<\/p>\n
Question 9 options:<\/p>\n
a) <\/p>\n
Captive product<\/p>\n
b) <\/p>\n
Reference<\/p>\n
c) <\/p>\n
Promotional<\/p>\n
d) <\/p>\n
Geographical<\/p>\n
e) <\/p>\n
Dynamic<\/p>\n
Save<\/p>\n
Question 10 <\/b>(2 points)<\/p>\n
________ pricing is the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share.<\/p>\n
Question 10 options:<\/p>\n
a) <\/p>\n
Market-skimming<\/p>\n
b) <\/p>\n
Market-penetration<\/p>\n
c) <\/p>\n
Above-market<\/p>\n
d) <\/p>\n
Value-based<\/p>\n
e) <\/p>\n
Follow-the-leader<\/p>\n
Save<\/p>\n
Question 11 <\/b>(2 points)<\/p>\n
Under ________, the market consists of a few large sellers who are highly sensitive to each other’s pricing and marketing strategies.<\/p>\n
Question 11 options:<\/p>\n
a) <\/p>\n
pure competition<\/p>\n
b) <\/p>\n
monopolistic competition<\/p>\n
c) <\/p>\n
oligopolistic competition<\/p>\n
d) <\/p>\n
a pure monopoly<\/p>\n
e) <\/p>\n
pure monopsony<\/p>\n
Save<\/p>\n
Question 12 <\/b>(2 points)<\/p>\n
Producers use captive product pricing to set the price of the main product ________ and set ________ on the supplies necessary to use the product.<\/p>\n
Question 12 options:<\/p>\n
a) <\/p>\n
low; low markups<\/p>\n
b) <\/p>\n
high; low markups<\/p>\n
c) <\/p>\n
low; high markups<\/p>\n
d) <\/p>\n
high; high markups<\/p>\n
e) <\/p>\n
moderately; moderate markups<\/p>\n
Save<\/p>\n
Question 13 <\/b>(2 points)<\/p>\n
Which of the following is a reason for a company to raise its prices?<\/p>\n
Question 13 options:<\/p>\n
a) <\/p>\n
to address the issue of overdemand for a product<\/p>\n
b) <\/p>\n
to win a larger share of the market<\/p>\n
c) <\/p>\n
to use excess capacity<\/p>\n
d) <\/p>\n
to boost sales volume<\/p>\n
e) <\/p>\n
to balance out decreasing costs<\/p>\n
Save<\/p>\n
Question 14 <\/b>(2 points)<\/p>\n
If Dell charges the same price for delivery of its product to any customer that is located within the Great Lakes states, the company is using ________.<\/p>\n
Question 14 options:<\/p>\n
a) <\/p>\n
psychological pricing<\/p>\n
b) <\/p>\n
promotional pricing<\/p>\n
c) <\/p>\n
reference pricing<\/p>\n
d) <\/p>\n
zone pricing<\/p>\n
e) <\/p>\n
uniform-delivered pricing<\/p>\n
Save<\/p>\n
Question 15 <\/b>(2 points)<\/p>\n
Value-based pricing is the reverse process of ________ pricing.<\/p>\n
Question 15 options:<\/p>\n
a) <\/p>\n
variable cost-based<\/p>\n
b) <\/p>\n
cost-plus<\/p>\n
c) <\/p>\n
cost-based<\/p>\n
d) <\/p>\n
good-value<\/p>\n
e) <\/p>\n
equity value-based<\/p>\n
Save<\/p>\n
Question 16 <\/b>(2 points)<\/p>\n
Consumers use price less to judge the quality of a product when they ________.<\/p>\n
Question 16 options:<\/p>\n
a) <\/p>\n
lack information<\/p>\n
b) <\/p>\n
lack skills to use the product<\/p>\n
c) <\/p>\n
have experience with the product<\/p>\n","protected":false},"excerpt":{"rendered":"
Question 1 (2 points) Vac “N’ Sew will give customers $100 for a used vacuum cleaner, regardless of condition, when they purchase a new vacuum or sewing machine. This essentially reduces the price by $100. What is this type of discount Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-54411","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/54411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=54411"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/54411\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=54411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=54411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=54411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}