Delta Air Lines wishes to purchase five new aeroplanes. Management seeks information from several aircraft manufacturers, screens the offers, and discusses price and terms of sale with the preferred company until a transaction is completed. This method of pricing is: A)administered. B)sealed bid. C)open bid. D)negotiated.

Delta Air Lines wishes to purchase five new aeroplanes. Management seeks information from several aircraft manufacturers, screens the offers, and discusses price and terms of sale with the preferred company until a transaction is completed. This method of pricing is: A)administered. B)sealed bid. C)open bid. D)negotiated.
by

1 Answer

Answer :

D)negotiated.
by

Related questions

When Fred Middleton asks the Cannon salesperson how much a desktop bond copier is going for these days, the salesperson looks in his price book and quotes Fred the firm's published price for the unit. In this instance, Cannon is using which type of pricing? A)Open bid B)Sealed bid C)Administered D)Negotiated

Description : When Fred Middleton asks the Cannon salesperson how much a desktop bond copier is going for these days, the salesperson looks in his price book and quotes Fred the firm's published price for the unit. ... , Cannon is using which type of pricing? A)Open bid B)Sealed bid C)Administered D)Negotiated

Last Answer : C)Administered

Even though a firm may have stated list prices and discount structures, the customer may pay an even lower price through what type of pricing? A)Open bidding B)Administered pricing C)Sealed bidding D)Negotiated pricing

Description : Even though a firm may have stated list prices and discount structures, the customer may pay an even lower price through what type of pricing? A)Open bidding B)Administered pricing C)Sealed bidding D)Negotiated pricing

Last Answer : D)Negotiated pricing

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

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

In ------- bidding, several industrial sellers are asked to submit bids, and the amounts of the bids are made public. A)sealed B)negotiated C)solicited D)petitioned E)open

Description : In ------- bidding, several industrial sellers are asked to submit bids, and the amounts of the bids are made public. A)sealed B)negotiated C)solicited D)petitioned E)open

Last Answer : E)open

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 suitable work station at a lower price than the stated list price. This type of industrial pricing is called: A)transfer. B)open bid. C)solicited D)petitioned E)open

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

A firm that bases its price on how it thinks the competitors will price, rather than on its own costs or demand, to win a contract is most likely using A. Going-rate pricing B. Cost-plus pricing C. Perceived-value pricing D. Sealed-bid pricing

Description : A firm that bases its price on how it thinks the competitors will price, rather than on its own costs or demand, to win a contract is most likely using A. Going-rate pricing B. Cost-plus pricing C. Perceived-value pricing D. Sealed-bid pricing

Last Answer : C. Perceived-value pricing

Anderson Distribution Company management has purchased fifteen fork-lifts in three orders over the past two years. As it plans to place its next order for another five machines, management wonders if additional features may be needed due to expansion in the product lines it carries. For Anderson, this represents a ________ purchase. A)new-task B)modified rebuy C)straight rebuy D)repetitive purchase

Description : Anderson Distribution Company management has purchased fifteen fork-lifts in three orders over the past two years. As it plans to place its next order for another five machines, management wonders if ... a ________ purchase. A)new-task B)modified rebuy C)straight rebuy D)repetitive purchase

Last Answer : B)modified rebuy

4) The channel that includes both a manufacturer's agent and an industrial distributor may be appropriate under which of the following circumstances? A)When a marketer wishes to enter a new geographic market but does not wish to expand the existing sales force B)When the sales force is large and the marketer is thinking of cutting it down C)When customers are highly concentrated in one geographic area

Description : 4) The channel that includes both a manufacturer's agent and an industrial distributor may be appropriate under which of the following circumstances? A)When a marketer wishes to enter a new ... marketer is thinking of cutting it down C)When customers are highly concentrated in one geographic area

Last Answer : A)When a marketer wishes to enter a new geographic market but does not wish to expand the existing sales force

The channel that includes both a manufacturers' agent and an industrial distributor may be appropriate under which of the following circumstances? A)When the firm wants specialised personnel to follow up the work of the sales force B)When the marketer wishes to enter a new geographic market but does not wish to expand the existing sales force C)When only one or two channels of distribution are available for products D)When the sales force is large and the marketer is thinking of cutting it down E)When customers are highly concentrated in one geographic area

Description : The channel that includes both a manufacturers' agent and an industrial distributor may be appropriate under which of the following circumstances? A)When the firm wants specialised personnel to follow ... is thinking of cutting it down E)When customers are highly concentrated in one geographic area

Last Answer : B)When the marketer wishes to enter a new geographic market but does not wish to expand the existing sales force

When the requirements associated with a new-task purchase are changed the second or third time, this is called a: A)modified rebuy purchase B)contractual purchase C)straight rebuy purchase D)negotiated rebuy purchase

Description : When the requirements associated with a new-task purchase are changed the second or third time, this is called a: A)modified rebuy purchase B)contractual purchase C)straight rebuy purchase D)negotiated rebuy purchase

Last Answer : A)modified rebuy purchase

A representative from Coca-Cola automatically stops by a local fast-food outlet once a month to determine how much soft-drink syrup the store will need. This is an example of which type of organisational purchase: A)new-task B)modified rebuy C)straight rebuy D)negotiated

Description : A representative from Coca-Cola automatically stops by a local fast-food outlet once a month to determine how much soft-drink syrup the store will need. This is an example of which type of organisational purchase: A)new-task B)modified rebuy C)straight rebuy D)negotiated

Last Answer : C)straight rebuy

Carrying the line of only one manufacturer is known as A. Exclusive assortment B. Open bid C. Negotiated contract D. Deep assortment

Description : Carrying the line of only one manufacturer is known as A. Exclusive assortment B. Open bid C. Negotiated contract D. Deep assortment

Last Answer : A. Exclusive assortment

The Louisiana purchase completed in 1803 was negotiated by: (a) George Washington (b) James Madison (c) Robert Livingston (d) Martin Van Buren

Description : The Louisiana purchase completed in 1803 was negotiated by: (a) George Washington (b) James Madison (c) Robert Livingston (d) Martin Van Buren

Last Answer : (c) Robert Livingston

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.

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.

During a merger and acquisition transaction, the ability to find and use good comparable data for a valuation is relatively ____________. a) easy because each successful company within an industry uses the same ratios b) easy because public stock price fluctuation is not sufficient or erratic enough to make a difference c) difficult because book value is adjusted in small companies as FIFO is the method of choice and in public companies’ book value is static due to LIFO d) difficult because size differential, management depth, product diversity and access to lines of credit seldom match the company being valued

Description : During a merger and acquisition transaction, the ability to find and use good comparable data for a valuation is relatively ____________. a) easy because each successful company within an industry ... depth, product diversity and access to lines of credit seldom match the company being valued

Last Answer : d) difficult because size differential, management depth, product diversity and access to lines of credit seldom match the company being valued

Delta Airlines prices its tickets so that it is less expensive to travel on weekends than during the week when there is heavy business travel. This illustrates ________ pricing. A)seasonal B)demand -oriented C)competitive D)markup

Description : Delta Airlines prices its tickets so that it is less expensive to travel on weekends than during the week when there is heavy business travel. This illustrates ________ pricing. A)seasonal B)demand-oriented C)competitive D)markup

Last Answer : B)demand-oriented

Management at Algo Electronics is having difficulty in raising the introductory price on system components to cover its increased costs. Apparently, Algo used a ________ pricing policy in pricing these components. A)odd-even B)skimming C)penetration D)psychological

Description : Management at Algo Electronics is having difficulty in raising the introductory price on system components to cover its increased costs. Apparently, Algo used a ________ pricing policy in pricing these components. A)odd-even B)skimming C)penetration D)psychological

Last Answer : C)penetration

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 temporary price reduction, or to stimulate the purchase of an item in quantities that are considered larger than those usually purchased. What is this sales promotion? A)Push money B)Buy -back allowance C)Buying allowance D)Money -off offer

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

A(n) __________ is an independent business that sells complementary products of several producers in assigned territories and is compensated through commissions. A)industrial distributor B)production agent C)wholesaler D)manufacturers' agent E)producer

Description : A(n) __________ is an independent business that sells complementary products of several producers in assigned territories and is compensated through commissions. A)industrial distributor B)production agent C)wholesaler D)manufacturers' agent E)producer

Last Answer : D)manufacturers' agent

Illegal purchase or bid for property offered for sale by authority of public servant shall be punished with imprisonment of either description for a term which may extend to ____, or with fine which may extend to ____ rupees, or with both a) One month, six hundred b) One month, five hundred c) One month, two hundred d) None of these

Description : Illegal purchase or bid for property offered for sale by authority of public servant  shall be punished with imprisonment of either description for a term which may extend  to ____, or with fine which may extend ... six hundred b) One month, five hundred c) One month, two hundred d) None of these

Last Answer : c) One month, two hundred

If Pepsi sets the price of its six pack to match exactly the price of Coca - Cola's, Pepsi is using a ------ pricing method. A)demand -oriented B)cost -oriented C)experience curve D)competition -oriented

Description : If Pepsi sets the price of its six pack to match exactly the price of Coca - Cola's, Pepsi is using a ------ pricing method. A)demand -oriented B)cost -oriented C)experience curve D)competition -oriented

Last Answer : D)competition -oriented

Which pricing strategy involves a company fixing a low price that high -cost competitors cannot match? A)Penetration pricing B)Cost -orientated pricing C)Psychological pricing D)Experience curve pricing

Description : Which pricing strategy involves a company fixing a low price that high -cost competitors cannot match? A)Penetration pricing B)Cost -orientated pricing C)Psychological pricing D)Experience curve pricing

Last Answer : A)Penetration pricin

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

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

The width of a product mix is measured by the number of product A)dimensions in the product line. B)features in each brand. C)items in the product line. D)lines a company offers.

Description : The width of a product mix is measured by the number of product A)dimensions in the product line. B)features in each brand. C)items in the product line. D)lines a company offers.

Last Answer : B)features in each brand

What measure of the product mix involves the number of product lines a company offers? A)Quality B)Consistency C)Depth D)Width E)Size

Description : What measure of the product mix involves the number of product lines a company offers? A)Quality B)Consistency C)Depth D)Width E)Size

Last Answer : D)Width

The depth of a product mix is measured by the average number of A)convenience products as compared with the number of specialty products. B)different product lines offered by the company. C)different products offered in each product line. D)specialty products as compared with the number of convenience products. E)product features that the company offers.

Description : The depth of a product mix is measured by the average number of A)convenience products as compared with the number of specialty products. B)different product lines offered by the company. ... products as compared with the number of convenience products. E)product features that the company offers.

Last Answer : C)different products offered in each product line.

A manufacturer has decided to improve its inventory management by maintaining low inventory levels and waiting to purchase materials until right before they are needed in production. This inventory management technique is called A)just -in -time (JIT). B)inventory minimisation. C)economic order quantity.D)reorder point maximisation.

Description : A manufacturer has decided to improve its inventory management by maintaining low inventory levels and waiting to purchase materials until right before they are needed in production. This inventory ... time (JIT). B)inventory minimisation. C)economic order quantity.D)reorder point maximisation.

Last Answer : D)reorder point maximisation.

A grocery shop wants to order several dozen large grade 1 eggs from its local supplier. The shop's buyer will most likely use which purchase method: A)description B)sampling C)negotiation D)inspection

Description : A grocery shop wants to order several dozen large grade 1 eggs from its local supplier. The shop's buyer will most likely use which purchase method: A)description B)sampling C)negotiation D)inspection

Last Answer : A)description

An advertising platform consists of the A)basic issues or selling points that an advertiser wishes to include in the advertising campaign. B)clearly defined objectives of the advertising campaign, stated in precise and measurable terms. C)form in which the basic issues of the campaign should be presented. D)broad objectives of the advertising campaign.

Description : An advertising platform consists of the A)basic issues or selling points that an advertiser wishes to include in the advertising campaign. B)clearly defined objectives of the advertising campaign, ... basic issues of the campaign should be presented. D)broad objectives of the advertising campaign.

Last Answer : D)broad objectives of the advertising campaign.

The recruiting and selection process should include enough steps to yield the information needed to make accurate selection decisions. However, the stages of the process should be sequenced so that the more expensive steps are A)near the beginning. B)always completed before anything else. C)near the end. D)paid by the prospects rather than the company.

Description : The recruiting and selection process should include enough steps to yield the information needed to make accurate selection decisions. However, the stages of the process should be sequenced so that the more ... anything else. C)near the end. D)paid by the prospects rather than the company.

Last Answer : C)near the end.

A strategic window is A)the right combination of circumstances at the right time so that action can be taken toward a target market. B)what determines the factors that are most important in making a market attractive or strong. C)the limited period when the fit between key market requirements and a firm's capabilities is optimal. D)the process that seeks information about events and relationships in a company's outside environment.

Description : A strategic window is A)the right combination of circumstances at the right time so that action can be taken toward a target market. B)what determines the factors that are most important in ... . D)the process that seeks information about events and relationships in a company's outside environment.

Last Answer : C)the limited period when the fit between key market requirements and a firm's capabilities is optimal.

Which one of the following best defines the interest stage in the product adoption process? A)The buyer tries to find the product B)The buyer considers the benefits and determines whether or not to try the product C)The buyer tries the product to determine its usefulness D)The buyer seeks information and is receptive to learning about the product

Description : Which one of the following best defines the interest stage in the product adoption process? A)The buyer tries to find the product B)The buyer considers the benefits and determines whether or ... to determine its usefulness D)The buyer seeks information and is receptive to learning about the product

Last Answer : D)The buyer seeks information and is receptive to learning about the product

If Wimpey seeks information about trends in housing starts around the country and uses Department of Environment reports to get this information, it is using _______data. A)casual B)exploratory C)primary D)secondary

Description : If Wimpey seeks information about trends in housing starts around the country and uses Department of Environment reports to get this information, it is using _______data. A)casual B)exploratory C)primary D)secondary

Last Answer : D)secondary

n the previous three years, four studies have been conducted on the characteristics of Tyrone Brick's clients. As the firm seeks to put together a report showing trends in this area, it has a hard time locating the information contained in these study reports. This firm seems to need: A)a marketing research manager B)a marketing databank C)survey research D)primary data

Description : n the previous three years, four studies have been conducted on the characteristics of Tyrone Brick's clients. As the firm seeks to put together a report showing trends in this area, it has a ... to need: A)a marketing research manager B)a marketing databank C)survey research D)primary data

Last Answer : B)a marketing databank

Tying agreements occur when a A)producer distributes the same product through two or more different channel structures. B)manufacturer forbids an intermediary to carry products of competing manufacturers. C)supplier furnishes a product to a channel member stipulating that the channel member must purchase other products as well. D)producer refuses to deal to channel members that seem unethical or illegitimate.

Description : Tying agreements occur when a A)producer distributes the same product through two or more different channel structures. B)manufacturer forbids an intermediary to carry products of competing manufacturers. C ... well. D)producer refuses to deal to channel members that seem unethical or illegitimate.

Last Answer : C)supplier furnishes a product to a channel member stipulating that the channel member must purchase other products as well.

Alicia, a buyer for Nestle, buys carpeting for use in an office area. What determines whether this carpeting is a consumer or an industrial product? A)The price of the carpet B)The type of selling organisation C)The terms of the sale D)The buyer's intended use of the product E)Whether the carpet is a replacement item

Description : Alicia, a buyer for Nestle, buys carpeting for use in an office area. What determines whether this carpeting is a consumer or an industrial product? A)The price of the carpet B)The type of selling ... the sale D)The buyer's intended use of the product E)Whether the carpet is a replacement item

Last Answer : D)The buyer's intended use of the product

In an administered VMS, informal co-ordination brings about a high level of interorganisational management, BUT A)decision making does not take into account the goals of the system. B)channel members do not remain autonomous. C)the decision making is not co-ordinated. D)the individual channel members remain autonomous.

Description : In an administered VMS, informal co-ordination brings about a high level of interorganisational management, BUT A)decision making does not take into account the goals of the system. B)channel members ... . C)the decision making is not co-ordinated. D)the individual channel members remain autonomous.

Last Answer : D)the individual channel members remain autonomous.

A transaction in which the organisation is making an initial purchase of an item to be used to perform a new job is called a A)straight rebuy purchase. B)reciprocal purchase. C)delayed purchase. D)new-task purchase. E)modified rebuy purchase.

Description : A transaction in which the organisation is making an initial purchase of an item to be used to perform a new job is called a A)straight rebuy purchase. B)reciprocal purchase. C)delayed purchase. D)new-task purchase. E)modified rebuy purchase.

Last Answer : D)new-task purchase.

Automated Teller Machines (ATMs) are an innovation for the banking industry. In terms of the service industry, this is an innovation in the ------- element of the marketing mix. A)pricing B)promotion C)distribution D)product

Description : Automated Teller Machines (ATMs) are an innovation for the banking industry. In terms of the service industry, this is an innovation in the ------- element of the marketing mix. A)pricing B)promotion C)distribution D)product

Last Answer : C)distribution

Which of the following would be used in setting the price of a new product if considerable competition is expected? A)Psychological pricing B)Penetration pricing C)Odd -even pricing D)Price skimming

Description : Which of the following would be used in setting the price of a new product if considerable competition is expected? A)Psychological pricing B)Penetration pricing C)Odd -even pricing D)Price skimming

Last Answer : B)Penetration pricing

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.

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.

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.

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.

The perception of price depends on A)a product's actual price and consumers' expectations regarding price. B)a consumer's analysis of competitive prices. C)a consumer's expectation of price. D)a product's actual price compared with the manufacturer's suggested price.

Description : The perception of price depends on A)a product's actual price and consumers' expectations regarding price. B)a consumer's analysis of competitive prices. C)a consumer's expectation of price. D)a product's actual price compared with the manufacturer's suggested price.

Last Answer : A)a product's actual price and consumers' expectations regarding price.

The channel member that markets all of a manufacturer's output, has complete authority over price, promotion, and distribution, but does not take title to the product is a A)limited -line wholesaler. B)selling agent. C)commission merchant. D)manufacturers' agent. E)broker.

Description : The channel member that markets all of a manufacturer's output, has complete authority over price, promotion, and distribution, but does not take title to the product is a A)limited-line wholesaler. B)selling agent. C)commission merchant. D)manufacturers' agent. E)broker.

Last Answer : B)selling agent.

Adam's Pool Service charges £50 for swimming pool cleaning performed prior to May 15 and £75 for jobs performed after that date. This pricing structure provides the benefits to Adam's of: A)price leaders. B)smoothing demand fluctuations. C)increasing service tangibility. D)tying prices to service costs.

Description : Adam's Pool Service charges £50 for swimming pool cleaning performed prior to May 15 and £75 for jobs performed after that date. This pricing structure provides the benefits to Adam's of: ... leaders. B)smoothing demand fluctuations. C)increasing service tangibility. D)tying prices to service costs.

Last Answer : B)smoothing demand fluctuations.

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

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

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

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

------ pricing is possible when a firm is able to reduce its manufacturing costs at a predictable rate through improved methods, materials, skills, and machinery. A)experience -curve B)price leader C)manufacturing based D)production -curve

Description : ------ pricing is possible when a firm is able to reduce its manufacturing costs at a predictable rate through improved methods, materials, skills, and machinery. A)experience-curve B)price leader C)manufacturing based D)production-curve

Last Answer : A)experience-curve

Charging more for a soft drink in a vending machine than in a supermarket is an example of: A)price discrimination. B)competition oriented pricing. C)price differentiation. D)cost -oriented pricing.

Description : Charging more for a soft drink in a vending machine than in a supermarket is an example of: A)price discrimination. B)competition oriented pricing. C)price differentiation. D)cost-oriented pricing.

Last Answer : C)price differentiation

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.

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.