Question 1ÿ(2 points)Vac “N’ Sew will give customers $100 for a used vacuum cleaner, regardless of condition, when they purchase a new vacuum or sewing machine. This essentially reduces the price by $100. What is this type of discount called?Question 1 options:a)ÿfunctional discountb)ÿcaptive product discountc)ÿseasonal discountd)ÿtrade-in allowancee)ÿby-product allowanceSaveQuestion 2ÿ(2 points)With product bundle pricing, sellers can combine several products and offer the bundle ________.Question 2 options:a)ÿas a working unitb)ÿat a reduced pricec)ÿas a complete self-service packaged)ÿas a reward to loyal customerse)ÿas segmented pricingSaveQuestion 3ÿ(2 points)________ refers to selling below cost with the intention of punishing a competitor or gaining higher long-run profits by putting competitors out of business.Question 3 options:a)ÿOligopolistic pricingb)ÿCaptive pricingc)ÿDynamic pricingd)ÿZone pricinge)ÿPredatory pricingSaveQuestion 4ÿ(2 points)Qriosity Inc. comes out with a new antivirus program and prices it at half price to attract buyers. The company is using ________.Question 4 options:a)ÿmarketing-skimming pricingb)ÿmarket-penetration pricingc)ÿvalue-added pricingd)ÿreference pricinge)ÿpromotional allowancesSaveQuestion 5ÿ(2 points)A company sets not just a single price, but rather a ________ that covers different items in its line that change over time as products move through their life cycles.Question 5 options:a)ÿpricing by-productb)ÿpricing structurec)ÿpricing loopd)ÿpricing cyclee)ÿpricing bundleSaveQuestion 6ÿ(2 points)The relationship between the price charged and the resulting demand level can be shown as the ________.Question 6 options:a)ÿdemand curveb)ÿsupply curvec)ÿcost curved)ÿbreak-even charte)ÿinflation rateSaveQuestion 7ÿ(2 points)When a manufacturer offers a ________, customers buy products from manufacturers’ dealers within a specified time period and the manufacturer sends the customer a check.Question 7 options:a)ÿcash rebateb)ÿmarkup pricec)ÿdealer reductiond)ÿflash salee)ÿfunctional discountSaveQuestion 8ÿ(2 points)Rent, electricity, and executive salaries are examples of ________ costs.Question 8 options:a)ÿfixedb)ÿvariablec)ÿbreak-evend)ÿtargete)ÿmarketingSaveQuestion 9ÿ(2 points)________ prices are the prices that a buyer carries in his/her mind and refers to when looking at a given product.Question 9 options:a)ÿCaptive productb)ÿReferencec)ÿPromotionald)ÿGeographicale)ÿDynamicSaveQuestion 10ÿ(2 points)________ pricing is the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share.Question 10 options:a)ÿMarket-skimmingb)ÿMarket-penetrationc)ÿAbove-marketd)ÿValue-basede)ÿFollow-the-leaderSaveQuestion 11ÿ(2 points)Under ________, the market consists of a few large sellers who are highly sensitive to each other’s pricing and marketing strategies.Question 11 options:a)ÿpure competitionb)ÿmonopolistic competitionc)ÿoligopolistic competitiond)ÿa pure monopolye)ÿpure monopsonySaveQuestion 12ÿ(2 points)Producers use captive product pricing to set the price of the main product ________ and set ________ on the supplies necessary to use the product.Question 12 options:a)ÿlow; low markupsb)ÿhigh; low markupsc)ÿlow; high markupsd)ÿhigh; high markupse)ÿmoderately; moderate markupsSaveQuestion 13ÿ(2 points)Which of the following is a reason for a company to raise its prices?Question 13 options:a)ÿto address the issue of overdemand for a productb)ÿto win a larger share of the marketc)ÿto use excess capacityd)ÿto boost sales volumee)ÿto balance out decreasing costsSaveQuestion 14ÿ(2 points)If Dell charges the same price for delivery of its product to any customer that is located within the Great Lakes states, the company is using ________.Question 14 options:a)ÿpsychological pricingb)ÿpromotional pricingc)ÿreference pricingd)ÿzone pricinge)ÿuniform-delivered pricingSaveQuestion 15ÿ(2 points)Value-based pricing is the reverse process of ________ pricing.Question 15 options:a)ÿvariable cost-basedb)ÿcost-plusc)ÿcost-basedd)ÿgood-valuee)ÿequity value-basedSaveQuestion 16ÿ(2 points)Consumers use price less to judge the quality of a product when they ________.Question 16 options:a)ÿlack informationb)ÿlack skills to use the productc)ÿhave experience with the product
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