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ENT I 5.01 Quiz
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Questions in this quiz (8)
1When the costs of raw materials increase considerably, a business is likely to perform which action?
- AMaintain similar profit margins as its competitors
- BImplement a long-term markup pricing policy
- CContinue following the same marketing strategies
- DIncrease the selling price of a product
2Which is an example of a business using a flexible pricing policy?
- AEstablishing prices that are competitive
- BLowering prices during bad economic times
- CSetting prices as low as possible
3During which stage of the product life cycle is a business likely to try to stabilize the price of the product?
- AExpansion
- BIntroductry
- CObsolescence
- DMaturity
4What is the purpose of sales-oriented, pricing objectives?
- ATo increase the total amount of sales income
- BTo create profits for the business
- CTo increase the return on investment
- DTo guarantee the survival of the business
5One reason why the target market of a business affects its pricing is because consumers in each target market usually perform which action?
- AMonitor the industry standard
- BExpect a large product mix
- CPrefer products in the growth stage
- DJudge the value of products differently
6The price function often influences the place function by determining which information?
- AWhen the product is made.
- BWhy the product is shipped.
- CHow the product is advertised.
- DWhere the product is sold.
7Why would a manager of a local business keep track of the prices that similar businesses in the area are charging?
- ATo remain competitive
- BTo improve advertising
- CTo promote image
- DTo offer new services
8Why do some new companies set their selling prices as low as they can?
- ATo get market share as fast as possible
- BTo eliminate all possible competition
- CTo earn a high return on investment
- DTo quickly make a large profit
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- Description
- ENT I 5.01 Quiz
- Author
- Chad Collins
- Language
- English
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- 30
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