Exam #3 -- Test Prep 1 of 2
Quiz by Dawn Pepin
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9 questions
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- Q1What element of the marketing mix has a unique role in that it is the place where all other business decisions come together?promotionproductplaceprice30s
- Q2The prices for all furniture sold at American Furniture Warehouse end in $9.99, such as $589.99, $869.99, etc. American Furniture Warehouse usesodd-even pricing.bundle pricing.price lining.dynamic pricing.30s
- Q3Rather than billing clients by the hour, some lawyers and their clients agree on a fixed fee based on expected costs plus an agreed upon level of profit for the law firm. Which pricing approach are they using?target pricingcustomary pricingcost-plus pricingexperience curve pricingbundle pricing30s
- Q4When Kroger, a national supermarket chain, uses a special promotion to price a six-pack of soda at $2.09 (which is below its customary price level of $4.29), it is attempting toattract customers in hopes they will buy other products as well.drive its competition out of business.fill its parking lot so its store will look successful.work with the local bottler to move products that are close to their expiration dates.30s
- Q5You are president of an electric appliance manufacturer. You want to reduce your break-even quantity. All things being equal, you can do this byincreasing the quantity sold, while keeping price unchanged.increasing fixed cost.reducing unit variable cost.reducing marginal revenue.30s
- Q6An ad campaign by Suave shampoo asked television viewers to identify the women who used Suave shampoo and conditioner and those that used the much more expensive salon hair-care products, when such distinction was not really possible. By making price its selling point, Suave is most likely usingskimming pricing.below-market pricing.customary pricing.prestige pricing.loss-leader pricing.30s
- Q7Apple now operates over 500 Apple retail stores around the world to sell its innovative products such as the iPhone and Apple Watch. Apple usesstrategic channel alliances.forward integration.backward integration.horizontal integration.dual distribution.30s
- Q8Which buyer requirement would be most important in choosing a channel for a financial service for a novice investor who is interested in setting up a retirement account?contextinformationadaptationpre- and postsale servicesvariety30s
- Q9Pharmaceutical companies sell some of their products to hospitals and clinics directly. They also market other products to large retail chains such as CVS that distribute them to their stores across the nation. In addition, they sell products to drug wholesalers that sell to the remaining independent drugstores in the United States. What method of distribution best describes the method used by pharmaceutical companies in this example?dual distributionvertical distributiondirect distributionhorizontal distributionexclusive distribution30s