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Exam 19: Pricing Concepts

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Question 1

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Which term refers to selling commodities of similar grade and quality to two or more different buyers at different prices,within a reasonably short time,where the result would be to substantially lessen competition?

A) Price discrimination
B) Price fixing
C) Bait pricing
D) Penetration pricing

E) None of the above
F) All of the above

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Question 2

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A price reduction offered to buyers who purchase product in multiple units or above a specified dollar amount is termed a ______ discount.

A) trade
B) cash
C) seasonal
D) quantity

E) A) and B)
F) A) and C)

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Question 3

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Costs that change with the level of output are called _____ costs.

www.ebay.com is the most popular extranet in the United States.

Which of the following happens if demand is elastic?

The Internet,Extranets (private electronic networks),and wireless setups are enabling buyers to quickly and easily compare products and prices,putting them in a better bargaining position.

A software program that searches the Web for the best price for a particular item that you wish to purchase is called ______________.

Explain the significance of market share as a sales-oriented pricing objective.

Which of the following helps determine what sales volume must be reached before total revenue equals total costs?

To increase the popularity of its new range of smartphones,GizmoPro Inc.offered several free accessories to customers who bought their smartphones.However,the offer turned out to be unsustainable and the company had to offer discounts on the accessories instead.GizmoPro's decision is aimed at _____.

Generally speaking,which of the following marks a product's entry into the growth stage of its life cycle?

Prices always steadily decline for a product in the decline stage of the product life cycle.

Zone pricing is a modification of uniform delivered pricing,and it divides the United States (or the total market)into segments (or zones)and charges a flat freight rate to all customers in a given zone.

The quantity of a product that will be offered to the market by a supplier at various prices for a specified period determines the product's ______.

Which statement best defines price fixing?

According to garment makers,the demands of big volume customers,such as department stores,are nearly wiping out profits for all suppliers except the very largest.

The managers at Click-to-Door,an e-commerce website,closely monitor its rival online retailers to analyze how consumers respond to changes in the prices of certain products.They use the results of this analysis to constantly change the prices on their website to maximize sales and profits.In this case,which of the following pricing strategies does Click-to-Door follow?

Because it denotes a high price relative to the prices of competing products,______ is sometimes called a "market-plus" approach to pricing.

A _____ is a price reduction offered to a consumer,an industrial user,or a marketing intermediary in return for prompt payment of a bill.

Return on investment (ROI) for a firm is