Chapter 6, 13, 14 Quiz MKT 460
For our lecture on "The Impact of Social Media," Professor A discussed YouTuber, Jared McMullin, who has significant experience as a social media influencer with a popular YouTube channel. That YouTube channel is known as _________ __________ __________.
"Friday Night Cranks"
Regarding price considerations/adjustments due to foreign currency exchange risks, which approach involves the selling organization bearing the risk of losses due to exchange rate fluctuation?
?
Regarding the possible range of prices for a company's product over time, the lowest price possible ("floor") is which of the following:
?
For most companies, being active on social media platforms with frequent posts and updates replaces the need for a website to promote the company and its offerings.
False
Regarding social media strategy for a firm expanding to a new international market, the best social media platform to promote the firm's offerings is definitely the one that has the largest population of users and the highest frequency of use throughout that new host country.
False
Which type of market is described as many buyers and sellers trading over a range of prices rather than single price with the "range" due to differentiation strategies between firms.
Monopolistic Competition
Which first-time pricing strategy involves setting a low price to gain higher volume/early market share before competitors enter the market?
Penetration Pricing
During the lecture on Pricing Strategy, Professor A discussed a positioning strategy based on price called "Target Costing" which is best described by which of the following:
Target costing starts with an ideal selling price, then targets costs that ensure the price is met that will ensure an acceptable profit margin for the company.
Price is the only element of the marketing mix that generates revenue - all other elements represent costs/expenses.
True
Price is considered ____________ when consumer demand changes greatly even with a small change in price.
elastic