Question
Question 1(2 points) Which of the following factors are likely to increase the likelihood of a competitive response (price war) following a price cut? Question
Question 1(2 points)
Which of the following factors are likely to increase the likelihood of a competitive response (price war) following a price cut?
Question 1 options:
All of them
Offerings are undifferentiated and can be easily substituted.
Customer demand is price elastic.
Markets are stagnant, and to grow sales a company has to steal share from its direct competitors.
Question 2(2 points)
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Which of the following are the key company benefits of using trade or collaborator incentives?
Question 2 options:
Help motivate channel members to begin carrying a company's offerings
Help motivate channel members to carry larger inventories of a company's offerings
Help motivate channel members to prominently feature a company's offerings
All of them
Question 3(2 points)
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Synergies among different offerings in a company's portfolio are commonly referred to as:
Question 3 options:
Experience curve effects
Economies of scope
Economies of scale
Learning curve effects
Question 4(2 points)
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The price-quality tradeoff (giving up product benefits in order to pay less or vice versa) is one of the most important factors that customers consider when making a choice.
Question 4 options:
TrueFalse
Question 5(2 points)
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A manufacturer that advertises its products and services to end users and promotes its offerings through means such as coupons, rebates, games, and contests is using which type of promotion?
Question 5 options:
Push promotions
Pull promotions
Neither
Question 6(2 points)
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Apple has a very strong and positive brand image. A great number of consumers love this brand. Which of the following pricing goal is the best to maximize Apple's profits?
Question 6 options:
Skim pricing
Penetration pricing
Question 7(2 points)
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Expenses that do not fluctuate with output volume within a relevant period are commonly referred to as:
Question 7 options:
Fixed costs
Sunk costs
Variable costs
Total costs
Question 8(2 points)
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Which of the following factors play a key role in price setting?
Question 8 options:
Customers' willingness to pay for the offering's benefits
Competitors' prices and cost structure
The company's goals and cost structure
All of them
Question 9(2 points)
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When the absolute value of price elasticity for a product is 3, it suggests:
Question 9 options:
The demand for this product is inelastic, consumers are not sensitive to price change. Sales discount will NOT help increase much sales volume.
The demand for this product is elastic, consumers are sensitive to price change. Sales discount will help increase much sales volume.
Question 10(2 points)
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What is price elasticity?
Question 10 options:
The relationship between price and quantity sold
The degrees of freedom that a company has when setting the price
The percentage change in quantity sold relative to the percentage change in price
The ratio of an offering's price to quantity sold
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