Marketing Final Exam

Weekend attendance it also has a lower ticket price

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Unformatted text preview: quilibrium oriented ANS: B Operations-oriented pricing seeks to match supply and demand by varying prices (e.g., matching hotel demand to the number of available rooms). PTS: 1 REF: 194 Thinking KEY: CB&E Model Pricing OBJ: 12-4 TOP: AACSB Reflective MSC: BLOOMS Knowledge 66. Geyser Falls Water Park charges less for weekday admission than it does for weekend attendance. It also has a lower ticket price for patrons who arrive at 4 P.M. Because it is focusing on coordinating supply and demand by varying prices, it is using a(n) _____ pricing objective for service firms. a. revenue-oriented b. operations-oriented c. image-focused d. patronage-oriented e. equity-oriented ANS: B A focus on matching supply and demand by varying prices to ensure maximum use of productive capacity at any specific point in time is an operations-oriented pricing objective for service firms. PTS: 1 Thinking REF: 194 OBJ: 12-4 TOP: AACSB Reflective KEY: CB&E Model Pricing MSC: BLOOMS Application 67. A focus on maximizing the number of customers using a service is a(n) _____ pricing objective for service firms. a. maximization of demand b. patronage-oriented c. profitability-oriented d. operations-oriented e. revenue-oriented ANS: B This is the definition of patronage-oriented pricing. PTS: 1 REF: 194 Thinking KEY: CB&E Model Pricing OBJ: 12-4 TOP: AACSB Reflective MSC: BLOOMS Knowledge 68. A continuing problem for most Minor League Baseball (MiLB) teams is low attendance. Event and venue sponsors want to see fans in the stadiums, and the players appreciate fan support. Given this information, which pricing strategy would you recommend MiLB teams use? a. Operations-oriented pricing b. Peak profitability pricing c. Patronage-oriented pricing d. Supply–demand pricing e. Revenue-oriented pricing ANS: C Patronage-oriented pricing tries to maximize the number of customers using the service. PTS: 1 REF: 194 Thinking KEY: CB&E Model Pricing OBJ: 12-4 TOP: AACSB Reflective MSC: BLOOMS Application 69. Most movie theaters offer discount ticket prices to students and senior citizens. This illustrates the _____ pricing objective. a. subsidized b. operations-oriented c. profitability-oriented d. service quality e. patronage-oriented ANS: E A focus on maximizing the number of customers using a service is a patronage-oriented pricing objective for service firms. PTS: 1 REF: 194 Thinking KEY: CB&E Model Pricing OBJ: 12-4 TOP: AACSB Reflective MSC: BLOOMS Application 70. Because many services involve a process of continuous interaction between the service organization and the customer, _____ marketing is an important strategy. a. interactive b. relationship c. patronage d. nonprofit e. affiliation ANS: B Relationship marketing is a means of attracting, developing, and retaining customer relationships. PTS: 1 REF: 194 Thinking KEY: CB&E Model Strategy OBJ: 12-5 TOP: AACSB Reflective MSC: BLOOMS Comprehension 71. One of the main responsibilities of sport marketers is to...
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This document was uploaded on 09/29/2013.

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