Final Exam (MKTG 231)

Final Exam (MKTG 231) - FINAL EXAM

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Unformatted text preview: FINAL EXAM[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: A) average variable costs are larger than average total costs B) marginal revenue equals marginal cost C) total costs equal total variable costs D) total costs equals average fixed revenue E) marginal variable costs equal average revenues 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: A) inelastic B) symmetrical C) unitary 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 FINAL EXAM[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. A) status quo B) marginal revenue C) markup D) break-even E) formula 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 speaker is saying that retailers do NOT use: A) data intermediaries B) data warehouses C) information extraction mines D) marketing information systems E) information distribution centers Feedback: A data warehouse is a central repository for data from various functional areas of the organization. These data can be shared by all of the organization's departments....
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This note was uploaded on 03/14/2011 for the course MGMT 231 taught by Professor Brown during the Spring '11 term at University of Phoenix.

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Final Exam (MKTG 231) - FINAL EXAM

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