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SEM Final Review Part 2
Test Description: Final review
Instructions: Answer all questions to get your test result.
1) The ability to work well with others and as a team.
A
Enthusiasm
B
Cooperation
C
Empathy
D
Loyalty
2) Putting yourself in someone else’s shoes. Seeing a situation from their point of view.
A
Cooperation
B
Enthusiasm
C
Empathy
D
Loyalty
3) Doing things that should be done without being asked to do them.
A
Initiative
B
Poise
C
Tact
D
Loyalty
4) The ability to act and speak without offending others.
A
Tact
B
Loyalty
C
Initiative
D
Poise
5) Acting with dignity and composure.
A
Poise
B
Initiative
C
Tact
D
Loyalty
6) She is a champion professional surfer known for surviving a shark attack in which she lost her left arm. She overcame her injury and returned to professional surfing.
A
Bethany Hamilton
B
Oprah Winfrey
C
Carrie Underwood
D
Lindsay Lohan
7) This is the amount customers pay for the product:
A
Retail
B
Cost
C
Price
D
Value
8) What really determines the value that customers place on entertainment and sports?
A
The players or performers will determine the price customers pay.
B
Whatever owners and producers decide to charge for the product.
C
The customer’s perception of the product’s quality and/or value.
D
Whatever ticket brokers decide to charge for that particular event.
9) The Memphis Grizzlies will sponsor a Pro Sport Career Day that will included a presentation by marketing executives, a college fair, a tee-shirt, a meal voucher, and a ticket to the game, all for $45. This is a pricing strategy known as:
A
psychological pricing
B
bundle pricing
C
prestige pricing
D
price skimming
10) This is a pricing strategy that sets a higher than average price to target customers seeking status and high quality:
A
loss leader pricing
B
prestige pricing
C
odd-even pricing
D
bundle pricing
11) This is whatever a business offers customers to satisfy needs and wants:
A
the product
B
the service
C
the provision
D
the package
12) These are products that are physical goods that offer benefits to customers.
A
consumer services
B
tangible products
C
industrial services
D
intangible products
13) These products are nonphysical products, also called services, such as golf lessons.
A
consumer services
B
intangible products
C
industrial services
D
tangible products
14) This is similar to a volume discount or a quantity discount.
A
psychological package
B
bundle package
C
group package
D
industrial package
15) Celebrities will often purchase courtside seats to NBA basketball games that cost $750 each. The pricing strategy used for this product is known as:
A
bundle pricing
B
price skimming
C
prestige pricing
D
penetration pricing
16) A pricing strategy that prices an item at cost or below to create customer traffic.
A
bundle pricing
B
odd-even pricing
C
prestige pricing
D
loss leader pricing
17) This pricing strategy uses a lower than normal price to introduce a new product in order to capture a large market share.
A
loss leader pricing
B
odd-even pricing
C
market pricing
D
penetration pricing
18) Mr. Crouch will be taking the HHS Choir on a trip to New Your City. While planning this trip, Mr. Crouch will be MOST interested in which of the following?
A
prestige packages
B
industrial packages
C
psychological packages
D
group packages
19) Any good purchased by the customer for their personal use.
A
business product
B
tangible product
C
consumer product
D
intangible product
20) This pricing technique creates an illusion for customers. Goods or services are given either an odd number or an even number to match the product’s image.
A
deceptive pricing
B
psychological pricing
C
market pricing
D
industrial pricing
*select an answer for all questions
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