4.03_PI3 Part A And B H. Marketing Review Question Preview (ID: 59171)


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The objective of pricing that is intended to earn a certain percentage of profit based on the amount of money that has been put into the business is
a) percentage pricing.
b) unfair trade practices.
c) return on sales.
d) return on investment.

Businesses that come under government control often set a target return of profit because they
a) need to earn very high profits.
b) must abide by unfair trade practices.
c) are not allowed to earn a reasonable profit.
d) may be investigated if they earn high profits.

Why is obtaining, maintaining, or increasing market share important to a business?
a) A large market share ensures large profits.
b) Customers are interested in a firm’s market share.
c) Market share serves as a measure of the success of the business.
d) Market share must constantly increase for the business to succeed.

The majority of businesses that use profit-oriented pricing want to
a) earn a reasonable amount of profit.
b) make as much profit as possible.
c) reduce their return on investment.
d) create a negative cash flow.

A business that uses sales-oriented pricing objectives wants to increase the
a) cost of its marketing efforts.
b) total amount of its income from sales.
c) amount of promotion it uses.
d) inefficiency of its human resources.

A business that sets its prices lower than those of competitors will not make a profit unless it also
a) reduces its inventory.
b) increases promotion.
c) controls its costs.
d) enlarges its staff.

Which of the following is true of a business’s pricing objectives:
a) They must be changed each fiscal year.
b) They must be adjusted from time to time.
c) They are chosen for the life of the business.
d) They are not affected by changing circumstances.

It costs a publishing company $8 to produce a paperback book. The company sells each paperback it produces for $9.99. The $1.99 difference is known as
a) capital.
b) markup.
c) demand.
d) elasticity.

Is the following statement true or false: There is no connection between a firm’s marketing objectives and its pricing objectives.
a) True, marketing and pricing are independent of each other.
b) False, marketing objectives are based on pricing objectives.
c) True, some businesses do not even need marketing objectives.
d) False, pricing objectives should be used to achieve marketing objectives.

Selling price helps customers to allocate their money because price determines
a) what customers need to purchase.
b) the value of products to all purchasers.
c) the quality of all goods and services.
d) what customers can afford to purchase.

Which of the following must a business accomplish through selling price:
a) Pay all product costs
b) Maintain market share
c) Acquire start-up capital
d) Company valuation

The selling prices of products help customers to
a) make buying decisions.
b) find a company’s fixed costs.
c) spend freely.
d) determine the amount of markup.

Erica wants to buy Marco’s used iPod. He is asking her to pay him $100 for it. $100 is the iPod’s
a) cost of goods.
b) selling price.
c) cash flow.
d) profit.

Which of the following is a true statement:
a) Only certain types of products have selling prices.
b) Selling prices are easy for businesses to determine.
c) Selling prices for products always remain the same over time.
d) There are many kinds of selling prices for goods and services.

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