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Final Exam (MKTG 231) - FINAL EXAM Submitted by HOWELL...

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FINAL EXAM http://bsuonline.bowiestate.edu/...Id=FDED36429752472E8B05E769381AB65A&response_Id=8920723FC0104A708AF693E5E0A3160A[12/14/2010 9:33:04 AM] 1. For about a year, AMD representatives have told journalists that they do not believe that AMD will have to react in any way to the launch of Intel's Core 2 Duo processor. But just a week before Intel’s introduction of this product, AMD reduced the price of its desktop processors by 47 percent. AMD is hoping that demand for its processors will be: A) inelastic B) elastic C) derived D) joint E) synergistic Feedback: If demand is elastic, price decreases will increase demand by a larger amount and increase total revenue. 2. Profit maximization occurs when: 3. After mangers understand both the legal and the marketing consequences of price strategies, they should set a _____ price, the general level at which a company expects to sell a good or service. A) demand B) functional C) base D) zone E) leader 4. When Nesco brand food hydrators sold for $59.99, Nesco sold 90 dehydrators. When the company dropped the price of its dehydrators to $44.95, it sold 145 dehydrators. Demand for the food dehydrators appears to be: Submitted by HOWELL, NAQUENA (HOWELLN0208) on 12/6/2010 3:21:08 PM Points Awarded 15.00 Points Missed 35.00 Percentage 30.0% Points Earned: 0.0/1.0 Correct Answer(s): B Points Earned: 1.0/1.0 Correct Answer(s): B Points Earned: 0.0/1.0 Correct Answer(s): C
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FINAL EXAM http://bsuonline.bowiestate.edu/...Id=FDED36429752472E8B05E769381AB65A&response_Id=8920723FC0104A708AF693E5E0A3160A[12/14/2010 9:33:04 AM] D) asymmetrical E) elastic Feedback: The first price is $59.99 with total revenue of $5,399.10; the second price is $44.95 with total revenue of $6,517.75. Therefore, price dropped, and total revenue went up. 5. The most popular method used by wholesalers and retailers in establishing a sales price is _____ pricing. 6. "Lots of organizations have customer data, but not in a way that's useful," said a speaker at the Canadian Marketing Association's national convention. "Retailers have all kinds of data in different places--they don’t have a single view of the customer." The
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