IBM - Price & Place Strategies Review

Question 1

Buy a T-Shirt and Get 25% off the purchase of another.

Accepted Answer

Buy One, Get One

Question 2

Retailers and wholesalers would be considered intermediaries

Accepted Answer

True

Question 3

The price of a product can have an impact on its "image."

Accepted Answer

True

Question 4

The amount by which revenue from sales exceeds the costs of making and selling a product

Accepted Answer

Profit Margin

Question 5

Distribution strategies include how a product is transported to a warehouse, store or consumer.

Accepted Answer

True

Question 6

If everyone wants a product, but there isn't enough product to satisfy everyone

Accepted Answer

Prices will increase because of the high demand

Question 7

Gives a free or reduced priced item when another is purchased at full price.

Accepted Answer

Buy One, Get One

Question 8

Sets the sale price so it ends in an even number to convey quality

Accepted Answer

Even Pricing

Question 9

Setting a price at $9.95, instead of $10.00

Accepted Answer

Odd Pricing

Question 10

"Black Friday" sales are an example of the Discount Pricing technique.

Accepted Answer

True

Question 11

The path that goods take through the supply chain.

Accepted Answer

Channel of Distribution

Question 12

What is the difference between Fixed and Variable expenses?

Accepted Answer

Fixed does not change, but variable does

Question 13

Use intermediaries to get the product from the manufacturer to the consumer

Accepted Answer

Indirect Channel

Question 14

It's not important for a business to consider the desired profit when setting a product's price

Accepted Answer

False

Question 15

When setting a price for a product it's important to consider what a customer is willing to pay

Accepted Answer

True

Question 16

The businesses, people and activities involved in converting raw materials into products

Accepted Answer

Supply Chain

Question 17

Sets the sale price so it ends in an odd number

Accepted Answer

Odd Pricing

Question 18

The activities involved in getting a product or service to the consumers

Accepted Answer

Place Strategies

Question 19

Setting various price levels for similar products to differentiate the features of the product

Accepted Answer

Price Lining

Question 20

If nobody wants a product and a business has a lot in stock.

Accepted Answer

The price will lower because of the high level of supply

Question 21

Setting prices high to convey quality and status

Accepted Answer

Prestige Pricing

Question 22

Combines two or more services or products for one price to convey savings

Accepted Answer

Bundling

Question 23

High Demand + Low Supply = Lower Prices

Accepted Answer

False

Question 24

When goods and services go straight from the manufacturer to the consumer

Accepted Answer

Direct Channel

Question 25

The amount of money requested or exchanged for a product.

Accepted Answer

Price

IBM - Price & Place Strategies Review

Questions 25

IBM - Price & Place Strategies Review

Questions 25