u4l8
A trade discount is a special price that encourages customers to buy at off-peak times of the year.
False
Product depth is the number of product lines a company offers.
False
Setting very low prices to drive competitors out of business is a pricing practice called price-fixing.
False
The price the customer pays for a product after discounts or coupons are applied is the MSRP.
False
The satisfaction a customer receives from owning a product is known as place utility.
False
A broker's job is to bring a buyer and a seller together.
True
A company's variable expenses change based on the activity of the business.
True
A retailer is an example of an intermediary.
True
Psychological pricing is a technique that is used to make prices seem attractive to customers.
True
When the demand for a product is low and supply is high, the price of the product may be lowered to encourage people to buy it.
True
The point at which a company's sales equal expenses is the company's
break-even point
The path that goods take through the supply chain.
channel of distribution
The pricing method that focuses on what customers are willing to pay is called
demand-based pricing
Expenses that do not change and are not affected by the number of products produced or sold are
fixed expenses
Determining a product's selling price by doubling the total cost of the product is
keystone pricing
A group of closely related products within a product mix are called product
line
The price of a product that is printed in a catalog or on the price tag and does not include any discounts is the
list price
A picture, design, or image that is associated with a brand is a
logo
The percentage of the total sales of a specific product that one company conducts is the company's
market share
The desired amount of profit added to a product's cost.
markup
In the marketing mix, the product's life cycle will affect and influence
price
The stages a product goes through from the beginning to the end.
product life cycle
A group of closely related products within a company's product mix.
product line
All of the goods and services that a business sells.
product mix
Distinguishing the company's products from competing products.
product positioning
A working model of a new product that is made for testing purposes is a
prototype
A measure of profitability that is based on the amount earned from investment in a business.
return on investment
A measure of profitability that is equal to the company's net income divided by total sales.
return on sales
Coordinating the events that happen throughout the supply chain.
supply chain management
The relative worth of something to a person.
value
