5130402
Beschreibung
Quiz von Kathleen Keller, aktualisiert more than 1 year ago
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Erstellt von Kathleen Keller
vor etwa 8 Jahre
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Frage 1
Frage
How does technology help businesses when it enables them to obtain and analyze vast amounts of information that impact the pricing function?
Antworten
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By generating profit-and-loss statements
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By deciding how much to spend on advertising
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By calculating the cost of hiring more employees
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By determining the best time to adjust prices
Frage 2
Frage
What might happen if a business's customers feel that they are not getting the most value for their money?
Antworten
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Sales remain the same.
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Sales increase.
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Customers spend money elsewhere.
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Customers purchase more.
Frage 3
Frage
What pricing tactic might be considered questionable by some businesses?
Antworten
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Matching the prices of a competitor
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Developing a complex pricing structure
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Marking up prices to earn a profit
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Providing a reference price
Frage 4
Frage
Which of the following factors should businesses consider when establishing a product's selling price?
Antworten
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Economic conditions
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Unfair sales laws
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Pricing agreements
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Trade practices
Frage 5
Frage
What is an example of an unethical pricing practice?
Antworten
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A company prices its products low in an attempt to drive its competitors out of business.
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A business increases its prices when the cost of the materials to make the products increases.
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A firm sets a business objective to increase its profit margins over the next five years.
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A business prices a new product line to reflect high quality and status.
Frage 6
Frage
The Standard Oil Company's price-fixing tactics and monopolistic control over oil refining and distribution in the late 1800's was a major contributing factor in the enactment of which piece of legislation?
Antworten
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Sherman Antitrust Act
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Clayton Act
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Robinson-Patman Act
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Federal Trade Commission Act
Frage 7
Frage
Which of the following is an example of an ethical issue as it relates to predatory pricing?
Antworten
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An international book publisher sells similar products to similar customers at different prices.
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A tire producer introduces a new item to its product line and sets the initial price very low.
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A salesperson encourages a customer to purchase an extended vehicle warranty for a new car.
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A local ice-cream shop prices menu items below cost in an effort to eliminate its competition.
Frage 8
Frage
What is the advantage to a business of using bar-code pricing?
Antworten
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Easier for customers to read
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Reduces required business security
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Easier to change prices
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Reduces number of employees needed for sales
Frage 9
Frage
What is an external factor that affects the price that a business charges for its products?
Antworten
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Operating costs
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Variable expenses
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Economic conditions
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Employee benefits
Frage 10
Frage
Why do some new companies set their selling prices as low as they can?
Antworten
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To eliminate all possible competition
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To get market share as fast as possible
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To earn a high return on investment
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To quickly make a large profit
Frage 11
Frage
Companies A, B, and C sell similar products. Together, they recently decided to sell their products for the same price. In what unethical activity are the businesses engaging?
Antworten
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Bait-and-Switch
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Price Fixing
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Loss-leader Pricing
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Gray Markets
Frage 12
Frage
Charging premium prices for lumber to hurricane victims because supply is limited is
Antworten
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unethical and illegal.
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unethical and legal.
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ethical and legal.
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ethical and illegal.
Frage 13
Frage
A business charges a small company a higher price for a product than it charges a large company for the same product. What does this represent?
Antworten
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Price Discrimination
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Controlled Pricing
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Price Competition
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Regulated Pricing
Frage 14
Frage
Wal-Mart and Sears attract two different types of customers because of their pricing strategies. They have established their prices based on __________ decisions.
Antworten
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promotional
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customer
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place
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profit
Frage 15
Frage
What would be the most appropriate pricing strategy for a business in a small town where unemployment has skyrocketed and the economy is in a downturn?
Antworten
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Below-cost pricing
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High-level pricing
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Odd-cents pricing
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Flexible pricing
Frage 16
Frage
One way that many businesses use technology to reduce the costs associated with marking prices on products is by using
Antworten
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electronic scanning devices.
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automated inventory systems.
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preprinted gummed labels.
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computer-generated tags.
Frage 17
Frage
Technology allows manufacturers to pre-print product packaging with Universal Product Codes (UPCs) which contain __________ information.
Antworten
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pricing
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sampling
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operating
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selling
Frage 18
Frage
What costs do businesses usually include in the price of their products?
Antworten
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Regulations
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Inflation
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Transportation
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Orientation
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