BMI3C CH 25 & 26 Review

T/F: Multiple unit pricing suggests a bargain and helps increase sales volume.

T/F: A major factor in determining the profitability of any product is Price

T/F: Sales revenue = Price / quantity sold

T/F: There are eight steps for determining price

M/C: What does the minimum price law prevent?

M/C: _______ Goods Pricing Act, 1975

T/F: ROI stands for Reassurance On Investment

T/F: Minimum Price Law prevents companies with marketing power for selling p/s at a low price.

M/C: What factor does not belong in the marketing mix?

M/C: Which one is not a goals of pricing?

M/C: Which one is a goal of pricing?

M/C: What is one of the importance of Pricing?

T/F: There are 3 goals of pricing

T/F: RFID stands for ‘Radio Frequency Identification’

T/F: FTC stand for free trade company

M/C: Manufacturers might give how much of a discount to retailers?

M/C: What is the correct equation to calculate sales revenue?

M/C: What does “EDLP” stand for?

T/F: Meeting the customer is one of the 3 goals of Pricing

M/C: What is the 3rd stage in the Product Life Cycle?

T/F: Price is the value of money placed on a good or service.

T/F:Price Gouging is when a price is set higher than normal for a p/s that is in a high demand.

T/F: Pricing pays an important role in the sequence of events

M/C: Which one is not a type of competition-oriented pricing?

T/F: There are 3 types of cost-oriented pricing

M/C: FTC stands for

M/C: There are 5 product mix strategies: Which is NOT one of them?

M/C: Which is not a Basic Pricing Concept?

T/F: Mark-up Pricing is an example of Cost-Oriented Pricing

M/C: Which is NOT one of the four basic concepts in determining the price of any product?

T/F: There are 6 types of Pricing Techniques