BBA131 chapter 12 quiz

BBA131 chapter 12 quiz

Question 1

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The amount added to a product's cost in order to sell it at a target profit is called _____.

Select one:

a. revenue margin

b. profit allowance

c. markup

d. breakeven point

Question 2

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_____ refers specifically to the activities needed to move products efficiently from manufacturer to consumer.

Select one:

a. Physical distribution

b. The distribution mix

c. Transportation modes

d. Product placement

Question 3

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We can offer you a quality men's suit for under $200, the salesman says. The actual price is $199.99. This is an example of _____.

Select one:

a. psychological pricing

b. penetration pricing

c. price skimming

d. price lining

Question 4

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_____ are located at the ends of aisles or near checkout counters, making it easier for customers to find products.

Select one:

a. Point-of-sale displays

b. Directional signs

c. Coupons incentives

d. Premiums

Question 5

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Companies use _____ to determine the quantity of a product that must be sold before the seller makes a profit.

Select one:

a. penetration pricing

b. markup pricing

c. breakeven analysis

d. marginal analysis

Question 6

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When a company sets an initial low price to establish a new product in the market, they are using _____.

Select one:

a. price skimming

b. price lining

c. penetration pricing

d. introductory pricing

uestion 7

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Search engines such as Yahoo! serve as _____, collections of business Web sites representing diverse products.

Select one:

a. electronic fronts

b. Internet service providers

c. e-catalogs

d. cybermalls

Question 8

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A company may use _____ when its purpose is to promote itself and its products rather than simply close a sale.

Select one:

a. personal selling

b. missionary selling

c. creative selling

d. sales promotion

Question 9

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_____ attempts to build good relations with the public or to deal with unfavorable events.

Select one:

a. Advertising

b. Publicity

c. Personal selling

d. Public relations

Question 10

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_____ are manufacturer-owned stores that avoid wholesalers and retailers by selling merchandise directly from the factory to the consumers.

Select one:

a. Convenience stores

b. Off-price stores

c. Factory outlets

d. Catalog showrooms

Question 11

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Which is the most widely used advertising medium?

Select one:

a. Internet

b. newspapers

c. radio

d. television

Question 12

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_____ costs change with the quantity of a product sold or produced.

Select one:

a. Variable

b. Margin

c. Annual

d. Fixed

Question 13

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Companies often price their products to establish _____, a company's percentage of the total market sales for a specific product type.

Select one:

a. a breakeven point

b. sales percentage

c. fixed costs

d. market share

Question 14

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_____ are goals that producers hope to attain in pricing products.

Select one:

a. Pricing objectives

b. Profit targets

c. Pricing targets

d. Returns on investment

Question 15

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A _____ takes legal possession of goods produced by a variety of manufacturers and then resells them to other businesses.

Select one:

a. intermediary

b. syndicated seller

c. broker

d. wholesaler

Question 16

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_____ is paid, nonpersonal communication, by which an identified sponsor informs an audience about a product.

Select one:

a. Sales promotion

b. Advertising

c. Public relations

d. Promotion

Question 17

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Costs that are unaffected by the quantity of a product sold are _____ costs.

Select one:

a. variable

b. on-going

c. selling

d. fixed

Question 18

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_____ is the process of establishing an easily identifiable product image in the minds of consumers.

Select one:

a. Merchandising

b. Advertising

c. Positioning

d. Promoting

Question 19

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A firm introduces a totally new product. Knowing that it must bring in revenues to cover the costs of developing and promoting this new product, the firm decides to sell the product at a very high price. This practice is referred to as _____.

Select one:

a. price skimming

b. introductory pricing

c. price lining

d. penetration pricing

Question 20

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The _____ is the path that a product follows from producer to end user.

Select one:

a. consumption channel

b. market segmentation

c. product line