Marketing Final Exam

Level except a require resellers to maintain prices

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: do all of the following to regain some control over the price their products are sold for at the retail level EXCEPT: a. require resellers to maintain prices in line with competitors’ prices b. developing brand loyalty in consumers by delivering quality and value c. avoiding doing business with price-cutting discounters d. franchising e. using an exclusive distribution system ANS: A Manufacturers can also package merchandise with the selling price marked on it or place goods on consignment. PTS: 1 REF: 314 Thinking KEY: CB&E Model Pricing 96. Shopping bots: a. b. c. d. e. OBJ: 19-6 TOP: AACSB Reflective MSC: BLOOMS Analysis encourage a more creative use of advertising link manufacturers, suppliers, and customers create opportunities for prestige pricing provide a means for comparison shopping create inelastic demand ANS: D Bot is short for robot, and shopping bots theoretically give pricing power to the consumer. PTS: 1 REF: 314 Thinking KEY: CB&E Model Pricing OBJ: 19-6 TOP: AACSB Reflective MSC: BLOOMS Comprehension 97. Which of the following statements about the Internet is true? a. The Internet has shifted all shopping power to b. c. d. e. consumers. Consumer reviews tend to be equal in quality. Business-to-business auctions on the Internet are likely to be more important than consumer auctions in the future. Fraud is not a problem on the Internet. Extranets are programs that search the Internet for the best price for a particular product. ANS: C The Internet has shifted some, but not all, shopping power to consumers. Consumer reviews vary in quality. Fraud is a huge problem. PTS: 1 REF: 315 Thinking KEY: CB&E Model Pricing OBJ: 19-6 TOP: AACSB Reflective MSC: BLOOMS Analysis 98. During the hot summer months, or the week before a new class starts if there is still space available, the Nick Price golf school in Orlando, Florida, offers a 25 percent reduction to get golfers during the off-season or those making a last-minute decision. This is an example of pricing strategy used as a(n): a. distribution tool b. price enhancer c. product strategy d. direct sales tool e. promotion strategy ANS: E Price is often used as a promotional tool to increase consumer interest. PTS: 1 REF: 315 Thinking KEY: CB&E Model Pricing OBJ: 19-6 TOP: AACSB Reflective MSC: BLOOMS Application 99. Many consumers, especially when faced with an uncertain purchase decision, think that a high price: a. is a signal of quality b. is an indication that consumers are being ripped off c. will always lead to major price discounts to wholesalers and retailers that distribute it d. is a sign of the company’s overall market share e. indicates that the brand was slipping into the decline stage of the product life cycle but has had a sudden resurgence of growth ANS: A Numerous studies have shown that consumers equate high price with good quality. PTS: 1 REF: 316 Thinking KEY: CB&E Model Pricing OBJ: 19-6 TOP: AACSB Reflective MSC: BLOOMS Comprehension 100. David...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern