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Clarion MGT350 quiz 7




Question;Question 1(1 point) The New Age Gallery has different admission prices for students, adults, and seniors. All three groups are entitled to the same services. This form of pricing is called ________.Question 1 options:1)time-based pricing2)location pricing3)customer-segment pricing4)revenue management pricing5)generational pricingSaveQuestion 2(1 point) The relationship between the price charged and the resulting demand level can be shown as the ________.Question 2 options:1)demand curve2)supply curve3)cost curve4)break-even chart5)inflation rateSaveQuestion 3(1 point) In industrial markets, salespeople outrank top management in determining the sales price of products, as well as pricing objectives and policies.Question 3 options:1) True2) FalseSaveQuestion 4(1 point) Price discrimination is legal if ________.Question 4 options:1)a manufacturer and reseller have agreed upon a specified retail price for a product2)a manufacturer maintains the same price to meet different conditions in different world markets3)a seller can prove its costs per unit are different when selling to different retailers4)a seller advertises prices that are not actually available to consumers5)a seller has not communicated with competitors before announcing pricesSaveQuestion 5(1 point) The fact that a hot dog cost five times more at Disneyland than at Sam's Club is an example of ________.Question 5 options:1)allowance pricing2)captive product pricing3)penetration pricing4)segmented pricing5)promotional pricingSaveQuestion 6(1 point) With target costing, marketers will first ________ and then ________.Question 6 options:1)build the marketing mix, identify the target market2)identify the target market, build the marketing mix3)design the product, determine its cost4)use skimming pricing, use penetrating pricing5)determine a selling price, target costs to ensure that the price is metSaveQuestion 7(1 point) Penny Bank, a discount retail chain, is highly competitive. When entering a new market, Penny Bank often cuts prices so deeply that it sells below costs, effectively pushing smaller retail stores with less purchasing power out of the market. Penny Bank is at risk of being accused of ________.Question 7 options:1)market skimming2)price-fixing3)predatory pricing4)deceptive pricing5)resale price maintenanceSaveQuestion 8(1 point) Rent, electricity, and executive salaries are examples of ________ costs.Question 8 options:1)fixed2)variable3)break-even4)target5)marketingSaveQuestion 9(1 point) Costs that change directly with the level of production are referred to as ________ costs.Question 9 options:1)fixed2)variable3)target4)break-even5)unitSaveQuestion 10(1 point) The demand curve shows the number of units the market will buy in a given time period at similar prices.Question 10 options:1) True2) FalseSaveQuestion 11(1 point) Under ________, the market consists of many buyers and sellers who trade over a range of prices rather than a single market price.Question 11 options:1)pure competition2)monopolistic competition3)oligopolistic competition4)a pure monopoly5)pure monopsonySaveQuestion 12(1 point) When a firm varies its price by the season, month, day, or even hour, it is using ________ pricing.Question 12 options:1)revenue management2)penetration3)skimming4)time-based5)value-addedSaveQuestion 13(1 point) 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.Question 13 options:1)pricing by-product2)pricing structure3)pricing loop4)pricing cycle5)pricing bundleSaveQuestion 14(1 point) Fixed costs ________ as the number of units produced increases.Question 14 options:1)decrease2)increase3)divide in half4)remain the same5)increase at a diminishing rateSaveQuestion 15(1 point) When Glow Gift Card Shop offers a price reduction to customers who buy Christmas cards the week after Christmas, it is giving a(n) ________ discount.Question 15 options:1)functional2)seasonal3)annual4)allowance5)credit


Paper#47117 | Written in 18-Jul-2015

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