Social Media Marketing Test

Target return pricing is pricing to cover all costs and which of the following?

Either a percentage return or a specific dollar return, which are two ways of measuring target returns

The Sherman Antitrust Act of 1890 did which of the following?

Eliminated price fixing

The penetration price policy is a good strategy when which of the following markets is small?

Elite

Which of the following is NOT a price level policy?

Flexible price policy

Which of the following is NOT a pricing objective?

Goal oriented

Which of the following is NOT a goal of pricing?

Increasing business from competitors

Which of the following is true of bait pricing?

It is considered extremely aggressive

A basic published or advertised price, often subject to discount, describes which of the following?

List price

Which of the following is a step in the product life cycle?

Market maturity

Demand-backward pricing is also known as which of the following?

Market minus pricing

Which of the following describes one price policies?

Offers the same price to all customers who purchase products under essentially the same conditions and the same quantities

What is the example for companies passing on extra costs to customers used in the presentation in regard to declining profit margins?

Oil

Manufacturers use break-even point calculations to help do what with a product?

Price

Which of the following is NOT an advantage of one price policies?

Price adjustments by salespeople

Which government regulation strengthened provisions of the Clayton Act?

Robinson-Patman Act

Which of the following is a true statement about profit oriented objectives?

Sets out to make as much profit as possible

Status quo-oriented objectives can help with which of the following?

Stabilizing prices

When do companies begin to make a profit?

When the break even point is reached

Which of the following is an example of value-in-use pricing?

A car company advertises their pricing to save money in the long term because their new system cuts labor costs

The idea of prestige pricing suggests which of the following?

A higher price suggests higher quality