What is competitive pricing?

Setting prices below competitors

Supply and demand principle?

More available, price decreases

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Price - Promotion - Staffing

20 termsStudBud Administration23 plays

Test your knowledge on key concepts in marketing and business operations with these quiz questions covering pricing strategies, email marketing, staffing considerations, and more.

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Questions 20

Answers

1
Regulates commercial email practices?
CAN-SPAM Act
Robinson-Patman Act
Sherman Antitrust Act
Consumer Goods Pricing Act
2
Overstaffing impacts?
Store security
Customer satisfaction
Employee motivation
Inventory management
3
Productivity decrease after 8 hours?
Ineffective management
Poor work ethic
Lack of training
Normal fatigue
4
Purpose of a loss leader?
Eliminate inventory
Attract customers
Generate profit
Match prices
5
Minimum wage law category?
Employee compensation
Equal opportunity
Employee safety
Workplace diversity
6
Most expensive promotional medium?
Email marketing
Broadcast media
Social media ads
Direct mail
7
Market share definition?
Percentage of sales
Annual revenue
Total customers
Product lines offered
8
Cost per name represents?
Cost per engaged recipient
Total cost per list size
Budget allocation
Expense per email
9
Disadvantage of third-party email lists?
Emails marked as spam
Higher costs
Limited demographics
Reduced delivery speed
10
Understaffing can lead to?
Higher shoplifting risk
Increased motivation
Efficient service
Reduced costs
11
What does 'margin' represent?
Profit percentage
Retail price minus cost
Total revenue
Operational expenses
12
CAN-SPAM Act requires?
Unsubscribe link
Mandatory marketing
Paid subscriptions
Unlimited frequency
13
Goal of a loyalty program?
Reduce expenses
Immediate discounts
Repeat customers
Eliminate competition
14
Least important employee characteristic?
Punctuality
Communication skills
Reliability
Fashion sense
15
A retailer purchases inventory for $100 and applies a 40% margin. What is the selling price of the item?
$120
$140
$160
$180
16
What is competitive pricing?
Matching competitor prices
Ignoring competitor prices
Setting prices above competitors
Setting prices below competitors
17
Supply and demand principle?
More available, price decreases
Oversaturated, prices rise
Rare, interest decreases
Less available, demand decreases
18
Critical factor for staffing levels?
Store hours
Customer traffic patterns
Employee wage rates
Store square footage
19
Institutional promotion aims to?
Increase sales
Enhance brand image
Reduce costs
Sell products
20
Successful email subject line?
Excessive punctuation
Include 'free'
Concise (50 characters)
Long and descriptive

Price - Promotion - Staffing Flashcards | StudBud