Shannon Anderson-Rush
Quiz by , created more than 1 year ago

Quiz on Marketing Principles ~ Pricing Review, created by Shannon Anderson-Rush on 15/01/2015.

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Shannon Anderson-Rush
Created by Shannon Anderson-Rush almost 10 years ago
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Marketing Principles ~ Pricing Review

Marketing Principles ~ Pricing Review

Question 1 of 12

1

Bartering involves the exchange of goods or services for a mutually agreed-on amount of money.

Select one of the following:

  • True
  • False

Explanation

Question 2 of 12

1

A company's profit is the same as its return on investment.

Select one of the following:

  • True
  • False

Explanation

Question 3 of 12

1

The Robinson-Patman Act of 1975 helps small retailers compete with large chain stores.

Select one of the following:

  • True
  • False

Explanation

Question 4 of 12

1

Retailers who are in business in states with minimum price laws are prohibited from using the loss-lead technique to attract customers.

Select one of the following:

  • True
  • False

Explanation

Question 5 of 12

1

The more unusual a product is perceived to be by consumers, the greater the freedom to set higher prices.

Select one of the following:

  • True
  • False

Explanation

Question 6 of 12

1

Outdated products in the US are in the decline stage in other global markets.

Select one of the following:

  • True
  • False

Explanation

Question 7 of 12

1

To calculate the percentage of a promotional discount, multiply the dollar discount by the original price.

Select one of the following:

  • True
  • False

Explanation

Question 8 of 12

1

A retailer who discounts an item's retail price increases his or her markup on the item.

Select one of the following:

  • True
  • False

Explanation

Question 9 of 12

1

Businesses cannot use employee discounts in order to justify paying employees a lower wage.

Select one of the following:

  • True
  • False

Explanation

Question 10 of 12

1

Trade discounts are based on the manufacturer's list price.

Select one of the following:

  • True
  • False

Explanation

Question 11 of 12

1

What type of pricing strategy is everyday low pricing?

Select one of the following:

  • Seasonal discount pricing

  • Price lining pricing

  • Multiple pricing

  • Psychological pricing

Explanation

Question 12 of 12

1

What is the most temporary pricing strategy?

Select one of the following:

  • promotional

  • odd/even

  • multiple

  • prestige

Explanation

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