Description : ____________ is termed as consideration in a contract of sale: A. Exchange money B. Barter money C. Price D. Reward
Last Answer : C. Price
Description : What do all of the following have in common: tuition, fee, premium, retainer, dues? A)They all must be paid in cash. B)They are forms of exchange similar to, but not identical with money. ... of exchange similar to, but not identical with barter. D)They are different terms for the concept of price.
Last Answer : D)They are different terms for the concept of price.
Description : By buying in large quantities and delivering to customers in smaller lots, a wholesaler may perform all of the following physical distribution activities except A)inventory planning. B)transportation. C)materials handling. D)unit pricing. E)communication.
Last Answer : D)unit pricing.
Description : In a _____ countertrade the initial seller receives compensation in products that arise out of the original sale. A. consignment B. barter C. counterpurchase D. buy-back agreement E. switch trading
Last Answer : D. buy-back agreement
Description : A merchant wholesaler A)takes title and assumes risk and is generally involved in buying and reselling products. B)takes title and possession of goods and sells only to retailers. C)does ... of goods but may facilitate exchange between any two parties. D)deals exclusively with industrial products.
Last Answer : A)takes title and assumes risk and is generally involved in buying and reselling products.
Description : Tom goes to a vending machine, deposits 50 pence, and receives a Cola. Which one of the following aspects of the definition of marketing is focused on here? A)Production concept. B)Satisfaction of organisational goals. C)Product pricing and distribution. D)Exchange.
Last Answer : D)Exchange.
Description : A temporary price reduction to resellers for purchasing specified quantities of a product is: A)premium money B)a merchandise allowance C)a buying allowance D)a buy -back allowance E)a money refund
Last Answer : A)premium money
Description : The group of people within an organisation who are involved in making organisational purchase decisions is referred to as A)the new-task team. B)negotiators. C)purchasing agents. D)deciders. E)the buying centre.
Last Answer : E)the buying centre.
Description : Most organisational purchase decisions are made by A)one person. B)a team of purchasing agents. C)a firm's buying centre. D)inventory control personnel. E)the sales force.
Last Answer : C)a firm's buying centre.
Description : Which of the following is the oldest system of money? (a) Barter ; (b) Plastic money ; (c) Credit money ; (d) Gold
Last Answer : (a) Barter ;
Description : Historically, Knox PLC sold industrial clamps directly to firms using these items in their production process. Knox's Chairman believes that it may be time to start using an industrial distributor because ... D)carry a more complete line of Knox clamps. E)market the products to Knox specifications.
Last Answer : A)provide Knox with market information.
Description : In the absence of __________, pricing remains a flexible and convenient way to adjust the marketing mix. A) experience -curve effects B) strong price competition C) weak price competition D) government price control E) low -priced substitute products
Last Answer : D) government price control
Description : A firm establishes which of the following pricing objectives to maintain or increase its product's sales in relation to total industry sales? A)Cash flow B)Sales potential C)Product quality D)Market share E)Status quo
Last Answer : D)Market share
Description : According to the text, cost tradeoffs enable firms to A)resolve pricing conflicts among competitors. B)minimise risk during the test marketing of new products. C)reduce costs of all ... . D)resolve pricing conflicts within marketing channels. E)combine resources for greatest cost-effectiveness.
Last Answer : E)combine resources for greatest cost-effectiveness.
Description : Sometimes resellers are offered a temporary price reduction for purchasing specified quantities of a product. Such offers are used to provide them with an incentive to handle a new product, to achieve a ... sales promotion? A)Push money B)Buy -back allowance C)Buying allowance D)Money -off offer
Last Answer : C)Buying allowance
Description : Which of the following constitutes Foreign Direct Investment? A. A speculator trying to make a profit by buying company shares on a foreign stock exchange. B. A UK energy company buying territory ... D. A company signing an agreement with a wholesaler to distribute its products in foreign markets.
Last Answer : A tourist purchasing foreign currency to spend on a holiday abroad.
Description : ----- refers to the development, pricing, promotion and distribution of products that do not harm the environment. A)Marketing ethics B)Social responsibility C)Environmental marketing D)Green marketing
Last Answer : D)Green marketing
Description : ------ refers to the specific development, pricing, promotion, and distribution of products that do not harm the environment. A)Marketing ethics B)Social responsibility C)Environmemtal marketing D)Green marketing 9) A business adopting the defence strategy approach to social responsibility:
Description : Which one of the following statements relating to the differences between industrial and consumer marketing is FALSE? A)Distribution channels tend to be shorter for industrial products than for ... and economic constraints placed on pricing is roughly the same for industrial and consumer products
Last Answer : C)The number of legal and economic constraints placed on pricing is roughly the same for industrial and consumer products
Description : Pricing policies and methods A)help direct and structure the selection of a final price. B)are the last decisions made for a new product. C)are the same for all of a company's products. D)are the most important decisions made for a product.
Last Answer : A)help direct and structure the selection of a final price.
Description : Competition-oriented pricing is: A)used when costs and revenues are considered secondary to competitors' prices. B)not useful as a method of increasing or maintaining market share. C)of little use if the competing products are homogenous. D)most often used when competing products are heterogeneous.
Last Answer : A)used when costs and revenues are considered secondary to competitors' prices.
Description : Competitors prices and the marketing mix variables that competitors emphasise partly determine: A)the selection of a pricing policy. B)the timing of the introduction of new products. C)whether to use a pioneer or psychological pricing policy. D)how important price will be to customers.
Last Answer : D)how important price will be to customers.
Description : Shortly after purchasing a product, the postpurchase evaluation may result in cognitive dissonance. Cognitive dissonance is best defined as A)the congruence between external and internal searches for ... occur because the buyer questions whether the decision to purchase the product was right.
Last Answer : D)doubts that occur because the buyer questions whether the decision to purchase the product was right.
Description : Which of the following is not a form of countertrade? A. barter B. consignment C. switch trading D. counterpurchase E. compensation agreement
Last Answer : B. consignment
Description : The system in which an industrial seller sets a price for a product and the customer pays that price is known as -------- pricing. A)bid B)negotiated C)administered D)fixed
Last Answer : C)administered
Description : Suppose the frozen foods division of Unilever purchases food trays and boxes from the organisation's packaging division. The form of pricing used to charge the frozen foods division is called: A)zone ... B)base -point pricing. C)business -unit pricing. D)transfer pricing. E)price discrimination.
Last Answer : D)transfer pricing
Description : 3) You would expect to find Marks and Spencer, Debenhams and Boots in an area known as the ----------- in a town or city. A)central business district B)prime pitch C)retail zone D)central trading area.
Last Answer : B)prime pitch
Description : he receptionist at a doctor's office throws away certain product circulars mailed by pharmaceutical companies and keeps the ones on products she believes are useful. The receptionist is performing which role in the buying centre? A)user B)influencer C)buyer D)decider E)gatekeeper
Last Answer : E)gatekeeper
Description : Which of the following statements is considered to be a DISADVANTAGE of using industrial distributors? A)Industrial distributors possess considerable technical and market information. B)The ... brands aggressively. E)Industrial distributors acquire title to the products and take possession.
Last Answer : D)Industrial distributors sell specific brands aggressively.
Description : By offering credit through its shops, Allied, the furniture and carpet retailer, is trying to get consumers to: A)decrease both disposable and discretionary income B)expand disposable income ... current buying power at the expense of future buying power D)expand both disposable income and wealth
Last Answer : C)expand current buying power at the expense of future buying power
Description : Nuhitzu believes it has the technological expertise to produce communication systems that will be the leaders around the globe. Boston Electronics is widely regarded as having excellent management ... trading company C)a joint agreement D)a strategic alliance E)a multinational enterprise
Last Answer : D)a strategic alliance
Description : If Tyreco failed to inform consumers that there were design problems with the firm's tyres, it would have been engaged in unethical behaviour relating to which one of the following marketing issue areas? A)Promotion B)Distribution C)Organisational relationships D)Product E)Pricing
Last Answer : D)Product
Description : Following a hurricane, a tremendous demand for gas-powered generators occurs. Gotts Hardware holds a large stock of these items and it faces major ethical decisions with regard to the ------ issue. A) product B) advertising C) personal selling D) publicity E) pricing
Last Answer : E) pricing
Description : Tommy leaves the video rental shop annoyed about the small number of titles that were available for rent. His attitude is due to the actual number of tapes in the store and: A)his satisfaction with ... there to help. D)his service expectations. E)the average number of available titles at all stores.
Last Answer : D)his service expectations.
Description : At a local trade show a purchaser of office equipment discussed the price of a computer work station with a representative of Haworth office furnishings. As a result of the discussion the buyer purchased a ... of industrial pricing is called: A)transfer. B)open bid. C)solicited D)petitioned E)open
Last Answer : D)petitioned
Description : Which of the following pricing methods is used most often by retailers? A)Markup pricing B)Price discrimination C)Price differentiation D)Return on investment E)Price skimming
Last Answer : A)Markup pricing
Description : When an organisation sets a limited number of prices for selected groups of merchandise, this idea is commonly referred to as A)prestige pricing. B)price lining. C)customary pricing. D)odd-even pricing. E)ethical pricing.
Last Answer : B)price lining.
Description : What is a requirement for setting pricing objectives? A)The objectives should be short-term oriented. B)There should be only one pricing objective. C)An evaluation of competitors' prices should be made. D)The cost structure should be identified. E)The objectives should be explicitly stated.
Last Answer : E)The objectives should be explicitly stated.
Description : What type of pricing policy is used in a situation in which the demand for a product is price inelastic and the seller has an ethical responsibility not to overcharge the client? A)price lining B)prestige pricing C)professional pricing D)customary pricing E)ethical pricing
Last Answer : C)professional pricing
Description : To attract customers into stores, Spar advertises its milk at less than cost, hoping that customers will purchase other groceries as well. This pricing strategy is called A)price lining. B)special-event pricing. C)experience curve pricing. D)superficial discounting. E)price leader pricing.
Last Answer : E)price leader pricing.
Description : The policy that assumes that demand is relatively inelastic over certain price ranges is called A)price lining. B)odd-even pricing. C)price skimming. D)prestige pricing. E)customary pricing.
Last Answer : A)price lining.
Description : When establishing prices, a marketer's first step is to A)determine demand. B)develop pricing objectives. C)select a pricing policy. D)evaluate competitors' prices. E)determine a pricing method.
Last Answer : B)develop pricing objectives.
Description : If a pint of Guinness costs less in Belfast than in Edinburgh this would reflect which of the following pricing methods? A)Price differentiationB)Base-point pricing C)Freight absorption pricing D)Transfer pricing E)Zone pricing
Last Answer : E)Zone pricing
Description : If Carrier develops a new air conditioning compressor that lasts twice as long as existing compressors but only uses half the electricity, it will probably establish its pricing based on: A)cash flow. B)product quality. C)survival. D)return on investment. E)market share.
Last Answer : B)product quality.
Description : If Nabisco established a pricing objective of selling one out of every three crackers consumed in the world, it would have established an objective based on: A)cash flow. B)market share. C)survival. D)return on investment. E)profit.
Last Answer : B)market share.
Description : Most pricing objectives based on ---- are achieved by trial and error because not all the cost and revenue data are available when prices are set. A)market share B)cash flow C)return on investment D)survival E)profit
Last Answer : C)return on investment
Description : When a company adjusts price levels so that it can increase sales volume to levels that match the organisation's expenses, it is said to employ a ---- pricing objective. A)market share B)cash flow C)return on investment D)survival E)profit
Last Answer : D)survival
Description : Which pricing objective de -emphasises price and can lead to a climate of nonprice competition in an industry? A)Status quo B)Return on investment C)Market share D)Survival E)Cash flow
Last Answer : A)Status quo
Description : If marketers in an organisation set prices to recover research and development expenses and establish a premium quality image for its product, they have in mind which type of pricing objective? A)Survival B)Return on investment C)Market share D)Product quality E)Cash flow
Last Answer : D)Product quality
Description : Which of the following pricing objectives sets prices to recover cash as quickly as possible? A)Market share B)Profit C)Cash flow D)Return on investment E)Product quality
Last Answer : C)Cash flow