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Pricing Strategies

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					Marketing Management
  Summative Assessment

   Unit 1.00 Test Review
What type of information do
 businesses include in their
     marketing plans?
a.   Billing Methods
b.   Pricing Strategies
c.   Payroll Systems
d.   Accounting Procedures
• What type of information do businesses
  include in their marketing plans?

a.   Billing Methods
b.   Pricing Strategies
c.   Payroll Systems
d.   Accounting Procedures
     If a business lowers the price of a
     product for the purpose of taking
    business away from competitors, the
      result of this action often is a(n)
•   A.   Decrease in cost
•   B.   Increase in profit
•   C.   Gain in market share
•   D.   Reduction in staff
     If a business lowers the price of a
     product for the purpose of taking
    business away from competitors, the
      result of this action often is a(n)
•   A.   Decrease in cost
•   B.   Increase in profit
•   C.   Gain in market share
•   D.   Reduction in staff
     When conducting an external
environmental analysis, business often
              focus on
•   A.   Previous demand
•   B.   Industry growth
•   C.   Marketing goals
•   D.   Financial costs
     When conducting an external
environmental analysis, business often
              focus on
•   A.   Previous demand
•   B.   Industry growth
•   C.   Marketing goals
•   D.   Financial costs
A manufacturer expects product sales
 to increase during the coming year.
  How does this information affect
         product production?
•   A.   Production should decrease
•   B.   Production should increase.
•   C.   Production should remain stable.
•   D.   Production should not be affected.
A manufacturer expects product sales
 to increase during the coming year.
  How does this information affect
         product production?
•   A.   Production should decrease
•   B.   Production should increase.
•   C.   Production should remain stable.
•   D.   Production should not be affected.
        When customers have low
involvement with a product and there
is little difference among brands, what
     type of buying behavior are they
                 exhibiting?
•   A.   Habitual
•   B.   Variety
•   C.   Complex
•   D.   Basic
        When customers have low
involvement with a product and there
is little difference among brands, what
     type of buying behavior are they
                 exhibiting?
•   A.   Habitual
•   B.   Variety
•   C.   Complex
•   D.   Basic
      The financial componenet of a
    marketing plan helps a business to
     compare the projected costs of
     implementing the plan with the
                expected
•   A.   Benefits
•   B.   Expenses
•   C.   Losses
•   D.   Strategies
      The financial componenet of a
    marketing plan helps a business to
     compare the projected costs of
     implementing the plan with the
                expected
•   A.   Benefits
•   B.   Expenses
•   C.   Losses
•   D.   Strategies
    Customers are more likely to spend a
    lot of time evaluating several options
        before buying a product when
•   A.   The product is perishable.
•   B.   The product is expensive.
•   C.   The need is immediate.
•   D.   Brand insistence is a factor.
    Customers are more likely to spend a
    lot of time evaluating several options
        before buying a product when
•   A.   The product is perishable.
•   B.   The product is expensive.
•   C.   The need is immediate.
•   D.   Brand insistence is a factor.
Morgan Health Supply Company wants
 to expand its product line this year. It
   uses its budget surplus to invest in
 new products rather than to remodel
its offices. This is an example of which
positive action companies should take
•   A. Provide excellent customer service.
•   B. Align strategies and activities with goals.
•   C. Demonstrate corporate responsibility.
•   C. Utilize touch points to reinforce company image.
Morgan Health Supply Company wants
 to expand its product line this year. It
   uses its budget surplus to invest in
 new products rather than to remodel
its offices. This is an example of which
positive action companies should take
•   A. Provide excellent customer service.
•   B. Align strategies and activities with goals.
•   C. Demonstrate corporate responsibility.
•   C. Utilize touch points to reinforce company image.
Which of the following is an example
of an internal change that could affect
      a business’s sales forecast?

• A. A direct competitor is planning a new promotional
  campaign.
• B. The birth rate increased following the Iraqi war.
• C. A new product line is to be offered by the business.
• D. The economy is struggling with a major drop in
  stock market prices.
Which of the following is an example
of an internal change that could affect
      a business’s sales forecast?

• A. A direct competitor is planning a new promotional
  campaign.
• B. The birth rate increased following the Iraqi war.
• C. A new product line is to be offered by the business.
• D. The economy is struggling with a major drop in
  stock market prices.
 An international soft drink company that wants
  to add bottled spring water to its product mix
has determined there are four major brand that
 currently hold the majority of the market share
for that product. The strengths and weaknesses
     of each potential competition have been
       examined. This is an example of a(n)
• A. Action plan
• B. Marketing strategy
• C. Situation analysis
• D. Purpose and mission
 An international soft drink company that wants
  to add bottled spring water to its product mix
has determined there are four major brand that
 currently hold the majority of the market share
for that product. The strengths and weaknesses
     of each potential competition have been
       examined. This is an example of a(n)
• A. Action plan
• B. Marketing strategy
• C. Situation analysis
• D. Purpose and mission
     Complex buying behavior is most
    likely involved when the customer
                is purchasing
•   A.   A car
•   B.   A meal
•   C.   Socks
•   D.   Gasoline
     Complex buying behavior is most
    likely involved when the customer
                is purchasing
•   A.   A car
•   B.   A meal
•   C.   Socks
•   D.   Gasoline
   Technological advances can help
  companies provide more customer
service with fewer employees, but why
   must the companies be careful?

•   A. Technology cannot provide 24-7 service.
•   B. Computers and telephones break down regularly.
•   C. Current employees may go on strike.
•   D. Customers may feel they are losing their human
    touch.
   Technological advances can help
  companies provide more customer
service with fewer employees, but why
   must the companies be careful?

•   A. Technology cannot provide 24-7 service.
•   B. Computers and telephones break down regularly.
•   C. Current employees may go on strike.
•   D. Customers may feel they are losing their human
    touch.
One of the main reason for developing
  a marketing plan is to identify the
 strategies necessary to achieve the
              marketing

•   A.   Functions
•   B.   Objectives
•   C.   Mix
•   D.   Share
One of the main reason for developing
  a marketing plan is to identify the
 strategies necessary to achieve the
              marketing

•   A.   Functions
•   B.   Objectives
•   C.   Mix
•   D.   Share
       If you were trying to convince
    someone to use quantitative sales
    forecasting, which of the following
          factors would you stress?
•   A.   Variety of opinions
•   B.   Factual basis
•   C.   Minimal cost
•   D.   Ease with which findings are understood
       If you were trying to convince
    someone to use quantitative sales
    forecasting, which of the following
          factors would you stress?
•   A.   Variety of opinions
•   B.   Factual basis
•   C.   Minimal cost
•   D.   Ease with which findings are understood

				
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