1.A firm first decides where it wants to position its market offering. A company can pursue any of five major objectives through pricing. Which of the following is NOT one of these objectives? (Points : 5) Predatory pricing Survival Maximum current profit Maximum market share Product-quality leadership2.The question regarding the various channel functions is not whether or not they need to be performed but who is to perform them. All channel functions have three things in common. Which of the following is NOT one of these channel functions? (Points : 5) They use up scarce resources. They can often be performed better through specialization. They can be shifted among channel members. They require substantial investments by the producer. None of the above3.At some stock level point, management must reorder product to refill the inventory to an acceptable level. This point is called the ________. (Points : 5) order (reorder) point inventory minimum inventory level inventory carrying costs none of the above4.Executives often complain that pricing is a big headache. Common mistakes include: price is not revised often enough to capitalize on market changes; price is set ________ of the rest of the marketing mix rather than an intrinsic element of a market-positioning strategy. (Points : 5) divergently too high intrinsically independently concurrently5.A ________ strategy creates consumer demand through promotions and advertising as a way to induce intermediaries to carry the product. (Points : 5) push pull promote provide none of the above6.The concept of the lowest ________ means that a seller can charge a higher price if they can convince the customers that price is only a small part of the total cost of obtaining, operating, and servicing the product over its lifetime. (Points : 5) prestige pricing total cost of ownership convenience pricing key price points none of the above7.With ________, the company does not need to worry about too many outlets; it can gain adequate market coverage with more control and less cost that intensive distribution. (Points : 5) selective distribution normal distribution extensive distribution random distribution exclusive distribution8.For price discrimination to work ________. (Points : 5) the market must be segmentable and the segments must show similar intensities of demand members in the lower-price segment must be able to resell the product to the higher-price segment competitors must be able to undersell the firm in the higher-price segment the practice must not breed customer resentment and ill will the extra revenue derived from price discrimination must not exceed the cost of segmenting and policing the market9.Auction-type pricing is becoming very popular due to the Internet. The three types of auction pricing include sealed-bid auctions, descending bids auctions, and ________. (Points : 5) EDLP auctions ascending bid auctions high-low bid auctions going-rate bidding auctions value pricing auctions10.Major retailer types include the following EXCEPT ________. (Points : 5) specialty store discount store catalog showroom the Internet superstore11.________ is an effort by one organization to win the support of the leaders of another organization by including them in advisory councils, board of directors, and the like. (Points : 5) Co-optation Diplomacy Superordinate goals Mediation Arbitration12.________ is the cornerstone of all discount operations. (Points : 5) Self-service Self-selection Limited service Full service Custom service13.Price elasticity depends on the magnitude and direction of the price change. If may differ for a price cut versus a price increase. When the price changes have little or no effect, there might exist a ________ for your product. (Points : 5) selective price price indifference band substitute product promotional price collective price14.________ measures a product’s handling costs from the time the product reaches the warehouse until a customer buys it in the retail store. (Points : 5) Brand management Shelf management Profitability analysis Direct product profitability analysis Direct product performance analysis15.By granting ________, the producer hopes to obtain more dedicated and knowledgeable selling. (Points : 5) selective distribution intensive distribution extensive distribution random distribution exclusive distribution16.________ warehouses store goods for moderate to long periods of time. (Points : 5) Distribution Automated Storage Company-owned Local17.________ are existing companies that have added an online site for information and/or e-commerce. (Points : 5) Store locations Brick-and-click firms Brick-and-mortar firms Pure-click firms None of the above18.Varying prices by time of the day, the season of the year, or the day of the week is called ________. (Points : 5) discounting time pricing price discrimination product-form pricing channel pricing19.A ________ is a storeless retailer serving a specific clientele-usually employees of large organizations-who are authorized to buy from a list of retailers that have agreed to give discounts in return for inclusion on the list. (Points : 5) direct-selling vendor direct marketing vendor buying service automatic vendor corporate retailer20.________ consist of the sum of the fixed and variable costs for any given level of production. (Points : 5) Total costs Manufacturing costs Delivery costs Fixed costs Variable costs

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