Archive for March 2022

What is interpersonal communication?

What is interpersonal communication?a.long-distance communication between a business and its target marketb.direct communication between two or more peoplec.nonpaid...

Frank's RedHot hot sauce created a "Sing the Blues" contest. Participants were asked to write original lyrics about Frank's RedHot sauce set to their favourite tune and submit their songs to the manufacturer. The writer of the winning song received a free all-expense paid trip to a House of Blues. What is this an example of?

Frank's RedHot hot sauce created a "Sing the Blues" contest. Participants were asked to write original lyrics about Frank's RedHot sauce set to their...

Which of the following BEST describes publicity?

Which of the following BEST describes publicity?a.It is free communication.b.It has many internal costs to the company associated with it.c.It will never...

In 2004, Montreal once again hosted the Peachtree Road Race, a running event that attracts many world-calibre racers. This year, after numerous requests from Quebecers, the race officials sanctioned a race conducted in Iraq so that soldiers from the province would not have to miss the annual event. The winners of the Mideast race as well as scenes of the actual race were televised. In terms of a promotional mix, this Iraqi Peachtree was an example of which of the following?

In 2004, Montreal once again hosted the Peachtree Road Race, a running event that attracts many world-calibre racers. This year, after numerous requests...
The four major promotional tools are known collectively as which of the following?a.the publicity fourb.the promotional mixc.the advertising campaignd.the...

What does the promotional mix consist of?

What does the promotional mix consist of?a.advertising, personal selling, sales promotion, and public relationsb.advertising, publicity, direct marketing,...

What is the main function of promotion?

What is the main function of promotion?a.to convince consumers a firm's products offer competitive advantages over those of its competitionb.to find a...

What is escalator pricing?

What is escalator pricing?a.It is a demand-oriented pricing tactic.b.It is similar to price shading.c.It is also called postage stamp pricing.d.It is...

Kasha has decided to keep her new power boat in a "drystack" storage facility rather than in the water at a marina. The storage facility charges her a fee of $500 per year, plus $25 each time she calls ahead and asks the facility to put her boat in the water for the day or weekend. Which pricing tactic is the facility using?

Kasha has decided to keep her new power boat in a "drystack" storage facility rather than in the water at a marina. The storage facility charges her a...

The Terra Vista Airport is a small airport frequently used by people who love skydiving. To help keep costs in line, the airport now charges its customers a small parking fee. At one time, the cost of parking at the airport was included in the price of the jump. What is Terra Vista Airport using?

The Terra Vista Airport is a small airport frequently used by people who love skydiving. To help keep costs in line, the airport now charges its customers...

R.W. Hunt & Sons, a distributor of hunting bows and anything needed for hunting or target practice, has packaged a new range-finder scope with a package of paper targets at one low price. R.W. Hunt is selling the scope slightly below cost, but the paper targets are very profitable. Which pricing technique is R.W. Hunt using?

R.W. Hunt & Sons, a distributor of hunting bows and anything needed for hunting or target practice, has packaged a new range-finder scope with a package...

The office supply store was selling two-drawer file cabinets for $20, which is a below-market price, to lure customers into the store in hopes that while they are in the store to buy a file cabinet they will also buy other items that have a much higher markup. What is the office supply store using?

The office supply store was selling two-drawer file cabinets for $20, which is a below-market price, to lure customers into the store in hopes that while...

What can leader pricing be used to do?

What can leader pricing be used to do?a.attract customers to the store so they will buy other products in addition to the leader productb.bundle products...

Merck & Co., the manufacturer of the AIDS drug Crixidan, distributes exclusively to one distributor, Stadtlanders Pharmacy. The pharmacy has been criticized for charging too high a price for the drug and exploiting inelastic demand. Stadtlanders claims the charges are ethical because of high staffing costs and associated discounts with various health plans. This situation describes issues associated with which of the following?

Merck & Co., the manufacturer of the AIDS drug Crixidan, distributes exclusively to one distributor, Stadtlanders Pharmacy. The pharmacy has been...

Eustis Lee is a lawyer who handles only drunk-driving cases. No matter how quickly he resolves the case, he charges each customer $5,000. Lee justifies the fee because of his lengthy education and the years he has spent learning how the judicial system operates. Which pricing policy is the lawyer using?

Eustis Lee is a lawyer who handles only drunk-driving cases. No matter how quickly he resolves the case, he charges each customer $5,000. Lee justifies...

A manufacturer of lighting fixtures has six warehouses and a pricing policy of charging freight from the closest warehouse to the customer, regardless of where parts are shipped. For instance, if the customer is in Vancouver, British Columbia, the closest warehouse to the customer is in Seattle, Washington. If the ordered car part actually comes from the Toronto warehouse, the customer still pays freight from Seattle. Which type of pricing is the manufacturer using?

A manufacturer of lighting fixtures has six warehouses and a pricing policy of charging freight from the closest warehouse to the customer, regardless...

Supposed a firm is customer-driven and seeks to understand the attributes customers want in the goods and services they buy and the value customers contribute to those attributes. The firm sets the price of the product at a level that seems to the customer to be a good price compared with the prices of other options. What is this pricing?

Supposed a firm is customer-driven and seeks to understand the attributes customers want in the goods and services they buy and the value customers contribute...

When Janeka purchased a pair of walkie-talkies so she could stay in contact with her 10-year-old son when he was playing in the neighbourhood, she noticed that if she mailed the manufacturer a proof-of-purchase and the cash register receipt showing where and when she had purchased the two-way radio system and how much she had paid, she would receive a cheque for $25. What is this $25 an example of?

When Janeka purchased a pair of walkie-talkies so she could stay in contact with her 10-year-old son when he was playing in the neighbourhood, she noticed...

When the salesperson from R.W. Hunt & Sons, a distributor of rifles and other items needed for hunting or target practice, calls on retail sporting goods stores, she is authorized to offer the retailers a 15 percent discount from the list price in recognition of activities retailers perform for the distributor. These activities include unpacking, floor display setup, and a repair service. What is this 15 percent discount called?

When the salesperson from R.W. Hunt & Sons, a distributor of rifles and other items needed for hunting or target practice, calls on retail sporting...

Current is a catalogue retailer that sells greeting cards, wrapping paper, and decorative bows. Since its inception, the catalogue retailer has offered three separate prices on each item purchased. The highest price is for purchases of a single item. The middle price is for purchases between two and five of the same item. The lowest price is for purchases over five of the same item. What common form of purchase discount is Current using?

Current is a catalogue retailer that sells greeting cards, wrapping paper, and decorative bows. Since its inception, the catalogue retailer has offered...

Why are quantity discounts most often used?

Why are quantity discounts most often used?a.to increase the sales potential of slow-moving itemsb.to reward a channel intermediary for performing some...

Razer-Edge makes machines for sharpening the blades used by butchers to slice meat. When Razer-Edge priced its Primary Sharpener, its salespeople were told that it would be sold for $1,700, but that there would be room for discounts and flexibility. The $1,700 price is which of the following prices for the Primary Sharpener?

Razer-Edge makes machines for sharpening the blades used by butchers to slice meat. When Razer-Edge priced its Primary Sharpener, its salespeople were...

When Microsoft introduced its Windows NT network operating system, it gave buyers free Web server software. At the same time, Netscape was trying to sell similar Web server software for $4,999. Once Microsoft got a lion's share of the market, and Netscape's market share declined substantially, Microsoft began charging above-market price for its Web server software. Many people thought Microsoft was guilty of which of the following?

When Microsoft introduced its Windows NT network operating system, it gave buyers free Web server software. At the same time, Netscape was trying to sell...

Imagine you have developed a device that can be used to tell whether uncooked meat has been irradiated. Several smaller retail chains have agreed to carry your product, but a large discount retailer has asked you to sell the device to it for a substantially lower price. What is the large discount retailer asking you to practise?

Imagine you have developed a device that can be used to tell whether uncooked meat has been irradiated. Several smaller retail chains have agreed to carry...

K&G Restaurant Supplies sells paper products and commodity items such as flour to for-profit businesses. It charges a substantially lower price to companies that operate multiple locations such as a restaurant chain. It charges a higher price to small or independent operations because they are less profitable customers. What is K&G Restaurant Supplies engaging in?

K&G Restaurant Supplies sells paper products and commodity items such as flour to for-profit businesses. It charges a substantially lower price to...

The marketing manager of icruise.com (a website targeted to consumers who want a luxury vacation) finds that the firm can gain market share and become the industry leader if it slashes prices by 50 percent during December. However, the vice-president of finance is committed to reporting a 25 percent return on investment at all times. What does this conflict illustrate?

The marketing manager of icruise.com (a website targeted to consumers who want a luxury vacation) finds that the firm can gain market share and become...

A retail firm that uses leader pricing is:

A retail firm that uses leader pricing is:Answer: Cutting the regular price on a few items with the hope of attracting custome...

A manufacturer of a very labor-intensive product wishes to employ the 'experience curve' to predict the AVC associated with various levels of cumulative production volume. Based on the first lot of 1,000 units, AVC are $12.50 per unit. You may assume that this level of AVC is attained at the point where the first 1,000 units is produced. The producer expects an experience constant or rate of about .9. The producer can expect AVC of ____________ with the third doubling (within $.10).

A manufacturer of a very labor-intensive product wishes to employ the 'experience curve' to predict the AVC associated with various levels of cumulative...

A tire retailer is advertising a very low price on a popular size tire. When a customer comes into the store, the clerk says the low-priced item is sold out, and tries to convince the customer to buy the top-of-the-line model--claiming the low priced model is not a very good buy even at the low price. This is an example of:

A tire retailer is advertising a very low price on a popular size tire. When a customer comes into the store, the clerk says the low-priced item is sold...

A manufacturer of a very labor-intensive product wishes to employ the 'experience curve' to predict the AVC associated with various levels of cumulative production volume. Based on the first lot of 1,000 units, AVC are $12.50 per unit. You may assume that this level of AVC is attained at the point where the first 1,000 units is produced. The producer expects an experience constant or rate of about .9. The experience constant or experience rate is interpreted as:

A manufacturer of a very labor-intensive product wishes to employ the 'experience curve' to predict the AVC associated with various levels of cumulative...

The Wine Cabinet, a store that features fine wines from all over the world, consistently prices The Complete Wine Course at $10.99. It sells this book at a price far below its regular retail price of $25.95 in order to attract wine shoppers to its store and increase its wine sales. This would be an example of:

The Wine Cabinet, a store that features fine wines from all over the world, consistently prices The Complete Wine Course at $10.99. It sells this book...

Wendy's fast-food restaurant chain priced several of its more popular menu items at $.99 while raising the price of some of its upgraded meal deals. This pricing strategy is an example of _____ pricing because the chain is trying to improve the customer's perception of the ratio of benefits received to the product's price.

Wendy's fast-food restaurant chain priced several of its more popular menu items at $.99 while raising the price of some of its upgraded meal deals. This...

A profit-oriented manufacturer of a consumer durable product faces a demand curve that is upward sloping to the right until extremely high prices are reached. For these latter prices, the demand curve tips over and is downward sloping. Which of the following pricing approaches is most consistent with the demand curve described?

A profit-oriented manufacturer of a consumer durable product faces a demand curve that is upward sloping to the right until extremely high prices are...

A manufacturer has set the initial price of its product below the product's AVC. The manufacturer assumes that the low price will be attractive to enough consumers so that market share can be acquired very rapidly. The producer further assumes that, as additional market share is attained, AVC will be reduced substantially. In fact, when total sales hit the 20,000 unit point, the producer expects AVC to drop below price. The manufacturer is most likely making use of:

A manufacturer has set the initial price of its product below the product's AVC. The manufacturer assumes that the low price will be attractive to enough...

Last summer Jon and Dave, to earn money for their college tuition, operated a snack booth at Clearwater Beach, Florida for 3 months. They sold soft drinks, chips, crackers, and candy bars. A month before they were planning to open, Jon found a location that rented for $500 a month and a small refrigerator unit which they rented for $40 per month. Dave located local distributors for the food products as well as for the paper products that they would need. Dave also purchased a business license for $200 and bought 3-month's worth of liability insurance for $250. The business license, rental fees, and insurance are all examples of:

Last summer Jon and Dave, to earn money for their college tuition, operated a snack booth at Clearwater Beach, Florida for 3 months. They sold soft drinks,...

Larry and Alan are college students. Last summer, to earn money for their college tuition, they operated a snack booth at Panama City Beach, Florida for 3 months. They sold soft drinks, chips, crackers, and candy bars. A month before they were planning to open, Larry found a location that rented for $400 a month and a small refrigerator unit which they rented for $50 per month. Alan found distributors for the food products as well as for the paper products that they would need. Alan also purchased a business license for $100 and bought 3-month's worth of liability insurance for $150. 20. The cups, straws, napkins, and extra sales people needed to staff the stand are all examples of:

Larry and Alan are college students. Last summer, to earn money for their college tuition, they operated a snack booth at Panama City Beach, Florida for...

High Meadow Mfg. Co. sold its product through wholesalers and retailers--allowing the wholesalers a markup of 25 percent and retailers a markup of 40 percent. If the retail selling price is $100 and the manufacturer's cost is $30, what markup in dollars did High Meadow receive on the sale of this product? (round to the nearest penny. Include the dollar sign in your answer)

High Meadow Mfg. Co. sold its product through wholesalers and retailers--allowing the wholesalers a markup of 25 percent and retailers a markup of 40...

The typical markup (percent) is the:

The typical markup (percent) is the:Answer: Selling price minus the cost of the item, divided by the selling price--times 1...

Aristo Industries in South Dakota makes 1,000 pies per day. The total cost per raspberry-apple pie is $3.25. Its average fixed costs equal $.75 per pie. The company has calculated that if its charges $4.25 per pie, it will realize a 30 percent profit on the total cost of each pie. What pricing method is Aristo Industries using?

Aristo Industries in South Dakota makes 1,000 pies per day. The total cost per raspberry-apple pie is $3.25. Its average fixed costs equal $.75 per pie....

Blue Ridge Weavers wants to set its selling price on an item so that the retail list price will be $50--taking into account the usual markups of 10 percent at wholesale and 30 percent at retail. At what price should Blue Ridge Weavers sell the item? (round to the nearest penny. Include the dollar sign)

Blue Ridge Weavers wants to set its selling price on an item so that the retail list price will be $50--taking into account the usual markups of 10 percent...

A manufacturer sells a product for $35 to a wholesaler, and the wholesaler sells it to a retailer. The wholesaler's normal markup (based on selling price) is 20%. The retailer prices the item to consumers to include a 30% markup (also based on selling price). What is the selling price to the consumer? (Round your answer to the nearest penny. Include the dollar sign.)

A manufacturer sells a product for $35 to a wholesaler, and the wholesaler sells it to a retailer. The wholesaler's normal markup (based on selling price)...

Cherokee Cable Corporation, sells heavy wire cable to large construction companies around the country. Customers pay shipping from a central warehouse in Dallas. Recently, a new competitor in Atlanta has been taking away some of Cherokee Cable's Southern customers. If Cherokee Cable wants to compete in those distant markets, but not increase the cost of its product to other customers, it would probably switch to

Cherokee Cable Corporation, sells heavy wire cable to large construction companies around the country. Customers pay shipping from a central warehouse...

In a corporate vertical marketing system,

In a corporate vertical marketing system,Answer: A firm at one level of the channel owns the firms at the next level or owns the entire chann...

A vertical marketing system:

A vertical marketing system:Answer: Is used to improve the channel operating efficiency and effectivene...

A tying contract may be legal if:

A tying contract may be legal if:Answer: A new, small company is trying to enter the mar...

When Ed Titus decided to sell 5 acres of land, he contacted Lenora Smalley. She showed the land to a young couple who wanted to build a home on a site, explained to them about the market for land in the area, and negotiated the sales terms. She left the final decision about the sale up to Titus and the young couple. Smalley is most likely a:

When Ed Titus decided to sell 5 acres of land, he contacted Lenora Smalley. She showed the land to a young couple who wanted to build a home on a site,...

Milt's Supply stocks electronic repair parts and related supplies and tools from various producers. Milt's sells primarily to small TV and electronic repair shops throughout the country that only want to order one or two items at a time. Orders are usually shipped out on UPS trucks. It appears that Milt's is a

Milt's Supply stocks electronic repair parts and related supplies and tools from various producers. Milt's sells primarily to small TV and electronic...

Cole Smithers sells fiberglass resins and fiberglass wire to the many small sailboat manufacturers in southern California. He takes title to the products but does not handle them. Instead, the resins are shipped in 50 gallon barrels directly from the producer to the sailboat manufacturers. Cole is a:

Cole Smithers sells fiberglass resins and fiberglass wire to the many small sailboat manufacturers in southern California. He takes title to the products...
Pages 1 of 30 123NextLast
Subscribe to: Posts (Atom)