Unit 5 - Entrepreneurship I Honors

A business might create a sales forecast to predict future sales for

To set prices, businesses must price the physical product and all of its associated

In which of the following businesses would a separate department most likely be responsible for establishing prices:

A downturn in the economy has forced a home builder to lower its prices. This company has __________ prices.

A buyer is willing to pay $9.99 for a product. If the seller is willing to accept that amount, then $9.99 is the

Which of the following is a potential benefit of sales forecasting:

Which type of sales forecasting is based on expert opinion and personal experience?

Hair care company cant afford to spend $ on research so use a less expensive way. This shows how pricing affects what:

Most sales forecasts are based on past sales performances as well as

Which of the following is a true statement regarding how economic conditions may affect a business’s sales forecast:

When Mariah sets prices for her company, she strives to maximize profit, which is considered a(n)

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

Which of the following is a use for sales forecasting in business planning:

Can prices be set too low?

Which of the following is an example of external information used for quantitative sales forecasting:

Which of the following is an external factor that may affect a business’s sales forecast:

How might sales forecasting aid a business in setting prices?

Short-range sales forecasts are used to

Covering costs is a pricing objective related to

Which of the following is a product factor that sandwich shops consider when deciding on the price to charge for items:

Charise is considering how much to charge for her small business’s products. Charise is involved in

A station is offering gasoline for five cents cheaper. Other stations lowered their prices as well. This is __ pricing.

A company with a high profit margin advertised w/ a full-page, high-cost magazine ad. This shows how pricing influences

In which of the following businesses is the business owner usually responsible for setting prices:

A company is saving money by shipping products by truck instead of plane. Which P is pricing influencing in this example

When companies increase the quality of materials used in the production of their products, their prices will tend to be

Long-range sales forecasts are used to

With what do many customers associate price?

The farther into the future a sales forecast reaches, the more __________ it is.

How would an inventory shortage likely affect a business’s sales forecast?

Which of the following is an excuse a business might make for not creating sales forecasts:

For new businesses, sales forecasts are especially vital for

Can pricing affect a business’s image?

Which of the following is an example of internal information used for quantitative sales forecasting:

Sellers must carefully set prices so that buyers feel they are receiving __________ value for their money.

Which type of sales forecasting is based on the analysis of hard facts or numerical data?

Intermediate-range sales forecasts are used to

Which of the following is an internal factor that may affect a business’s sales forecast:

Which area of promotion will pricing affect?

Which of the following is an advantage of quantitative sales forecasting: