mba565 Module 6 Quiz 5

Question

1.A firm first decides where it wants to position its market offering. A company can pursue any of five major objectives through pricing. Which of the following is NOT one of these objectives? (Points : 5)

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Predatory pricing

Survival

Maximum current profit

Maximum market share

Product-quality leadership

2.The question regarding the various channel functions is not whether or not they need to be performed but who is to perform them. All channel functions have three things in common. Which of the following is NOT one of these channel functions? (Points : 5)

They use up scarce resources.

They can often be performed better through specialization.

They can be shifted among channel members.

They require substantial investments by the producer.

None of the above

3.At some stock level point, management must reorder product to refill the inventory to an acceptable level. This point is called the ________. (Points : 5)

order (reorder) point

inventory

minimum inventory level

inventory carrying costs

none of the above

4.Executives often complain that pricing is a big headache. Common mistakes include: price is not revised often enough to capitalize on market changes; price is set ________ of the rest of the marketing mix rather than an intrinsic element of a market-positioning strategy. (Points : 5)

divergently

too high

intrinsically

independently

concurrently

5.A ________ strategy creates consumer demand through promotions and advertising as a way to induce intermediaries to carry the product. (Points : 5)

push

pull

promote

provide

none of the above

6.The concept of the lowest ________ means that a seller can charge a higher price if they can convince the customers that price is only a small part of the total cost of obtaining, operating, and servicing the product over its lifetime. (Points : 5)

prestige pricing

total cost of ownership

convenience pricing

key price points

none of the above

7.With ________, the company does not need to worry about too many outlets; it can gain adequate market coverage with more control and less cost that intensive distribution. (Points : 5)

selective distribution

normal distribution

extensive distribution

random distribution

exclusive distribution

8.For price discrimination to work ________. (Points : 5)

the market must be segmentable and the segments must show similar intensities of demand

members in the lower-price segment must be able to resell the product to the higher-price segment

competitors must be able to undersell the firm in the higher-price segment

the practice must not breed customer resentment and ill will

the extra revenue derived from price discrimination must not exceed the cost of segmenting and policing the market

9.Auction-type pricing is becoming very popular due to the Internet. The three types of auction pricing include sealed-bid auctions, descending bids auctions, and ________. (Points : 5)

EDLP auctions

ascending bid auctions

high-low bid auctions

going-rate bidding auctions

value pricing auctions

10.Major retailer types include the following EXCEPT ________. (Points : 5)

specialty store

discount store

catalog showroom

the Internet

superstore

11.________ is an effort by one organization to win the support of the leaders of another organization by including them in advisory councils, board of directors, and the like. (Points : 5)

Co-optation

Diplomacy

Superordinate goals

Mediation

Arbitration

12.________ is the cornerstone of all discount operations. (Points : 5)

Self-service

Self-selection

Limited service

Full service

Custom service

13.Price elasticity depends on the magnitude and direction of the price change. If may differ for a price cut versus a price increase. When the price changes have little or no effect, there might exist a ________ for your product. (Points : 5)

selective price

price indifference band

substitute product

promotional price

collective price

14.________ measures a product’s handling costs from the time the product reaches the warehouse until a customer buys it in the retail store. (Points : 5)

Brand management

Shelf management

Profitability analysis

Direct product profitability analysis

Direct product performance analysis

15.By granting ________, the producer hopes to obtain more dedicated and knowledgeable selling. (Points : 5)

selective distribution

intensive distribution

extensive distribution

random distribution

exclusive distribution

16.________ warehouses store goods for moderate to long periods of time. (Points : 5)

Distribution

Automated

Storage

Company-owned

Local

17.________ are existing companies that have added an online site for information and/or e-commerce. (Points : 5)

Store locations

Brick-and-click firms

Brick-and-mortar firms

Pure-click firms

None of the above

18.Varying prices by time of the day, the season of the year, or the day of the week is called ________. (Points : 5)

discounting

time pricing

price discrimination

product-form pricing

channel pricing

19.A ________ is a storeless retailer serving a specific clientele-usually employees of large organizations-who are authorized to buy from a list of retailers that have agreed to give discounts in return for inclusion on the list. (Points : 5)

direct-selling vendor

direct marketing vendor

buying service

automatic vendor

corporate retailer

20.________ consist of the sum of the fixed and variable costs for any given level of production. (Points : 5)

Total costs

Manufacturing costs

Delivery costs

Fixed costs

Variable costs

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