Podcast
Questions and Answers
What is the term for a reduction from list price given to intermediaries to get shelf space for a product?
What is the term for a reduction from list price given to intermediaries to get shelf space for a product?
- Bait pricing
- Task method
- Stocking allowance (correct)
- Leader pricing
What is the term for advertising a low-priced item to attract customers, but then convincing them to buy a more expensive model?
What is the term for advertising a low-priced item to attract customers, but then convincing them to buy a more expensive model?
- Leader pricing
- Bait pricing (correct)
- Task method
- Stocking allowance
What is the method of budgeting for promotion expenses that involves defining the tasks to be accomplished and allocating costs accordingly?
What is the method of budgeting for promotion expenses that involves defining the tasks to be accomplished and allocating costs accordingly?
- Percentage of sales method
- Objective and task method
- Task method (correct)
- Competitive parity method
At what point does the firm's total cost equal its total revenue?
At what point does the firm's total cost equal its total revenue?
When are customers likely to be less price sensitive?
When are customers likely to be less price sensitive?
In the market growth stage of the product life cycle, what becomes important?
In the market growth stage of the product life cycle, what becomes important?
What marketing mix is likely to be used for a new product?
What marketing mix is likely to be used for a new product?
What is the purpose of reducing prices on gas grills between November and February?
What is the purpose of reducing prices on gas grills between November and February?
What type of information sources are most effective for reaching innovators?
What type of information sources are most effective for reaching innovators?
How do you calculate 2/10, net 30?
How do you calculate 2/10, net 30?
What is the 'adoption curve'?
What is the 'adoption curve'?
What pricing objective is evident when a company cuts its prices to protect its market share?
What pricing objective is evident when a company cuts its prices to protect its market share?
What is the formula to calculate a firm's Gross Margin?
What is the formula to calculate a firm's Gross Margin?
Which federal agency has the power to control deceptive advertising in the United States?
Which federal agency has the power to control deceptive advertising in the United States?
What is the primary focus of order takers in sales?
What is the primary focus of order takers in sales?
What type of salesperson provides specialized services and information to support the sales force?
What type of salesperson provides specialized services and information to support the sales force?
What is the primary goal of Search Engine Optimization (SEO) strategy?
What is the primary goal of Search Engine Optimization (SEO) strategy?
What is a small file placed on a customer's computer that helps a website function and track customer behavior?
What is a small file placed on a customer's computer that helps a website function and track customer behavior?
What is the type of pricing objective a producer seeks when trying to obtain a certain percentage return on their investment?
What is the type of pricing objective a producer seeks when trying to obtain a certain percentage return on their investment?
What is the correct sequence of market acceptance of a new idea as represented in the adoption curve?
What is the correct sequence of market acceptance of a new idea as represented in the adoption curve?
What type of media is best suited for achieving the widest reach to a mass audience?
What type of media is best suited for achieving the widest reach to a mass audience?
What is a characteristic of owned media?
What is a characteristic of owned media?
What is the term for when two or more companies conspire to keep prices of a certain product at a certain level?
What is the term for when two or more companies conspire to keep prices of a certain product at a certain level?
What is TRUE about prospecting?
What is TRUE about prospecting?
What is the primary focus of prospecting in sales?
What is the primary focus of prospecting in sales?
What is the key difference between advertising and publicity?
What is the key difference between advertising and publicity?
What is the pricing objective of a manager who says 'A price of $10.00 will not start a price war with our competitors'?
What is the pricing objective of a manager who says 'A price of $10.00 will not start a price war with our competitors'?
What is World Imports/Exports, Inc. engaging in by selling a product at a lower price in a foreign market than in its domestic market?
What is World Imports/Exports, Inc. engaging in by selling a product at a lower price in a foreign market than in its domestic market?
What is the term for the coordination of every communication from a firm to a target customer to convey a consistent and complete message?
What is the term for the coordination of every communication from a firm to a target customer to convey a consistent and complete message?
What type of customer is characterized as preferring to do things the way they have been done in the past and being very suspicious of new ideas?
What type of customer is characterized as preferring to do things the way they have been done in the past and being very suspicious of new ideas?
