Question 14 1 pts The Widget Company sells 1,000 widgets annually at a price of $35 each. If the companyTMs pricing policies adhere to a 40 percent markup of selling price, the cost of each widget is: none of the above $21 O $28 O $14 Question 15 1 pts Setting prices for products or services using a particular competitor as a model of reference is known as a: variable pricing strategy O flexible pricing strategy O price-lining strategy O follow-the-leader pricing strategy Question 17 1 pts All of the following are reasons for implementing a penetration pricing strategy except: O to gain rapid market acceptance to discourage new competitorsentry into the market O to increase existing market share to rapidly recover start-up costs Question 20 1 pts At trade shows you should: make the booth interactive O all of the above recruit customers and bring them in to demonstrate the product/services O offer bags with the company logo on them to act as walking billboards Question 21 1 pts is a promotion delivered in a one-on-one environment. Sales promotion Personal selling Personal promotion O Advertising Question 22 1 pts Ad agencies provide several services, which include: O advising on sales promotions O furnishing design and artwork all of the other answers evaluating the effectiveness of different advertising appeals Question 23 1 pts An example of a nonfinancial reward that may motivate a salesperson is: O a stock plan compensation O a bonus plan O personal recognition Question 25 1 pts Preparing a business plan requires: a powerful computer designed to crunch numbers O a top notch researcher on the payroll none of these answers O both time and money Question 26 1 pts You would do less business planning if: the economic conditions are very uncertain the business was complex very little money was at risk O it was a competitive environment Question 28 1 pts Preparing a business plan requires both time and money. Other considerations include: complexity of the business O level of uncertainty all of the other answers O competitive environment Question 29 1 pts In a business plan, discussion of the production process and management plan should also cover: grand opening plans quality and controlling inventory O proforma statements O marketing issues