Online Quiz 19

  1. "Higher quality equals higher price" is a description of:
    the information effect of price
  2. Price x units = ________.
  3. ________ is the pricing objective that tries to make as much money as possible.
    Profit Maximization
  4. Which of the following is not a way that managers can expand revenue?a. employee bonus's, b. increase customer satisfaction, c. reduce costs, d. improve efficiency
    Employee bonus's
  5. ________ is the pricing objective that seeks profits consistent with the level of risk that a company faces.
    Satisfactory Profits
  6. Apple's iPhone accounts for 30% of all smartphone sales. This figure reflects the iPhone's:
    Market Share
  7. To increase sales, Ford offers its 2010 model-year cars at the same price as 2009 models. This is an example of:
    Status Quo Pricing
  8. Higher prices for goods and services will ________ their demand.
  9. Lower prices for goods and services will ________ supply.
  10. According to ________, an increase in the price in gasoline will not lead to a decrease in sales.
    Inelastic Demand
  11. A candy manufacturer decreased prices of its products by 20% but saw no change in total revenue. This is an example of:
    Unitary Elasticity
  12. Research has shown that high inflation will make demand more:
  13. An organization's payroll, insurance and utility costs are all examples of:
    Fixed Cost
  14. The ________ of a new car includes the price that the dealer had to pay
    to the manufacturer for the car, salary and benefits expenses for dealer
    employees, and a certain amount for profit.
    Markup Pricing
  15. The price of a product is set high during the ________ stage of the product life cycle.
Card Set
Online Quiz 19
quiz 19