Marketing 3.06 - 3.07

Question 1

Which factors should businesses consider when establishing the selling price of a product?

Accepted Answer

Economic conditions

Question 2

A business charges a small company a higher price for a product than it charges a large copmany

Accepted Answer

Price discrimination

Question 3

Why do some new companies set their selling prices as low as they can?

Accepted Answer

To get market share as fast as possible

Question 4

Which is an aspect of channel management that impacts customer service?

Accepted Answer

Timeliness

Question 5

Which makes it possible for a business's drivers to determine exact location?

Accepted Answer

Global positioning system

Question 6

Which is an example of an unethical pricing practice?

Accepted Answer

Company sets it prices low to kill out competition.

Question 7

One way that businesses use technology to reduce the costs with marking prices on products is?

Accepted Answer

Computer-generated tags

Question 8

Which would probably use a longer channel of distribution

Accepted Answer

A bottle of shampoo

Question 9

Which action customer service can take to facilitate the ordering process?

Accepted Answer

Communicate effectively

Question 10

Which pricing tactic might be considered questionable by some businesses?

Accepted Answer

Developing a complex pricing structure

Question 11

Technology allows manufactures to preprint packaging with UPC. Which info would be avaliable?

Accepted Answer

Pricing

Question 12

Which is an example of an ethical issue as it relates to predatory pricing?

Accepted Answer

Ice cream shop prices menu items low to remove competition

Question 13

Which indirect channel of distribution is used to reach large retailers?

Accepted Answer

Producer to agent to retailer to consumer

Question 14

Which statement is true about technology in relation to channel management?

Accepted Answer

Some businesses distribute all their products through web.

Question 15

Which action customer service can take to facilitate the ordering process?

Accepted Answer

Communicate effectively

Question 16

What would be the best pricing strategy for abusiness in small towns where unemployment is high

Accepted Answer

Flexible pricing

Question 17

Which situation hinders a business's ability to provide quality customer service?

Accepted Answer

Vendor consistently has back orders.

Question 18

Companies sells similar products at the same price. What unethical behavior are they doing?

Accepted Answer

Price-fixing

Question 19

Which costs do businesses usually include in the prices of their products?

Accepted Answer

Transportation

Question 20

How does technology help businesses when it enables them to obtain and analyze vast info.

Accepted Answer

By determining the best time to adjust prices

Question 21

Standard Oil Company's price-fixing tactics and monopolistic control, was an enactment of what

Accepted Answer

Sherman Antitrust Act

Question 22

How do channel members add value to a product?

Accepted Answer

By performing certain channel activities expertly

Question 23

What is an advantage for producers in using producers to wholesaler to retailer to consumer?

Accepted Answer

Wholesalers usually buy in large quantities.

Question 24

Which example demonstrates the use of satellite tracking within a distribution channel?

Accepted Answer

Dispatcher has knowledge of the delivery trucks location

Question 25

Two different companies have attracted different type of customers on their pricing strategies.

Accepted Answer

Customer

Question 26

Charging premium prices for lumber to hurricane victims because supply is limited is what?

Accepted Answer

Unethical and legal

Question 27

What do marketers want to achieve by determining distribution intensity?

Accepted Answer

Ideal market exposure

Question 28

Which is an external factor that affects the price that a business charges for its products?

Accepted Answer

Economic conditions

Question 29

When is it best for a business to use an exclusive distribution pattern?

Accepted Answer

If it needs to maintain tight control over a product.

Question 30

What if a business’s customers feel that they are not getting the most value for their money?

Accepted Answer

Customers will spend money elsewhere.

Marketing 3.06 - 3.07

Questions 30

Marketing 3.06 - 3.07

Questions 30