MKTG 3100 --Study Guide CH 17

MKTG 3100 --Study Guide CH 17 - Study Guide, Chapter 17 _...

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Study Guide, Chapter 17 ____ 1. Price is best described as: a. the perceived value of a good or service ____ 2. Revenue: e. equals price of goods times quantity sold ____ 3. _____ pay for every activity of the company. a. Revenues ____ 4. What is left over after paying for company activities is: c. profit ____ 5. Why are marketing managers finding it more difficult to set prices in today's environment? c. The high rate of new product introductions has led to careful reevaluation by consumers. ____ 6. For convenience, pricing objectives can be divided into three categories. They are: e. competitive, fixed, and variable ____ 7. An organization is using _____ when it sets its prices so that total revenue is as large as possible relative to total costs. a. profit maximization
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____ 8. Ron Smith owner of Ron's Roofing wanted to strive for a profit that would be satisfactory, he is not interested in maximizing profits. He determines his prices by maintaining the company's profitability at acceptable levels. Smith is basing his pricing policy on: b. satisfactory profits
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MKTG 3100 --Study Guide CH 17 - Study Guide, Chapter 17 _...

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