Chapter 11 student file

Chapter 11 student - MKTG 2201 INTRODUCTION TO MARKETING Quiz for Chapter 11 Qi Sun Chapter 11 Price the Product 1_d are the sum of the and for any

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MKTG 2201- INTRODUCTION TO MARKETING Quiz for Chapter 11 Qi Sun
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Chapter 11: Price the Product 1. ____d____ are the sum of the ________ and ________ for any given level of production. a. Fixed costs; variable; total costs b. Fixed costs; total; variable costs c. Variable costs; fixed; total costs d. Total costs; fixed; variable costs e. Break-even costs; fixed; total costs 2. In a market with ____b____, there are many sellers each offering a slightly different product over a range of prices. a. pure competition b. monopolistic competition c. oligopolistic competition d. a pure monopoly e. socialism 3. A firm is using a(n) ____d____ strategy when it introduces a product at a very low price to encourage rapid product adoption. a. skimming pricing b. competitive pricing c. intensive pricing d. penetration pricing e. price bundling 4. Which of the following is a reason that a marketer would choose a penetration pricing strategy? ___e___ a. to ensure the company has the ability to increase prices once demand decreases b. to focus on the rapid achievement of profit objectives c. to appeal to different consumer segments with different levels of price sensitivity d. to create markets for highly technical products e. to discourage competition from entering the market 5. A(n) ____d____ strategy is implemented when a store places two similar items next to each other, highlighting the fact that the price of one item is slightly lower than that of the other item. a. assimilation effect b. contrast effect c. price-placebo effect d. penetration pricing e. skimming price 6. With an understanding of price elasticity, sellers should know that the less elastic the demand for their product is, the more advantageous it is for them to ____b____. a. drop the price b. raise the price
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c. maintain the price d. discontinue the item e. bundle the item with another product 7. As a manufacturer increases price, the ____b____ drops. a. target b. break-even point c. marginal revenue d. total cost e. variable cost 8. Joe Bergerson makes and sells maple racks for cooling cakes and cookies. Joe knows that it costs $15 to make one rack, and he wants to earn a 25 percent profit on each rack. Which approach to pricing is Joe most likely to use? ____c____ a. demand-based pricing b. target costing c. cost-plus pricing d. yield management pricing e. value pricing 9. When a beverage maker came out with a new drink and priced it at half price for a
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This note was uploaded on 01/14/2012 for the course MKTG 2201 taught by Professor Jm during the Fall '10 term at Northeastern.

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Chapter 11 student - MKTG 2201 INTRODUCTION TO MARKETING Quiz for Chapter 11 Qi Sun Chapter 11 Price the Product 1_d are the sum of the and for any

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