Home Library Explore SAT

Home Library Explore SAT

Duplicate of Entrepreneurship Section 5.01 Flashcards | StudBud

Explore/Duplicate of Entrepreneurship Section 5.01

Duplicate of Entrepreneurship Section 5.01

8 terms·StudBud Administration·14 plays

Imported from external platform

Flashcards8 cardsFPractice quizPHost liveL

Questions 8

Answers

1
Which of the following is an example of a business using a flexible pricing policy:
Charing prices that consumers expect to pay
Establishing prices that are competitive
Setting prices as low as possible
Lowering prices during bad economic times
2
Why would a manager keep track of the prices that similar businesses in the area are charging?
To remain competitive
To improve advertising
To promote image
To offer new services
3
Which stage of the product life cycle is a business likely to stabilize a product's price?
Maturity
Expansion
Introductory
Obsolescence
4
Why does the target market affects its pricing is because consumers in each target market
Expect a large product mix.
Judge the value of products differently.
Prefer products in the growth stage.
Monitor the industry standard.
5
Why do some new companies set their selling price as low as they can?
To eliminate all possible competition
To earn a high return on investment
To get market share as fast as possible
To quickly make a large profit
6
What is the purpose of sales-oriented pricing objectives?
To create profits for the business
To increase the return on investment
To guarantee the survival of the business
To increase the total amount of sales income
7
When the costs of raw materials increase considerably, a business is likely to
Continue following the same marketing strategies.
Maintain similar profit margins as its competitors.
Increase the selling price of a product.
Implement a long-term markup pricing policy.
8
The price function often influences the place function by determining
Where the product is sold.
Why the product is shipped.
How the product is advertised.
When the product is made.