Question 1

________ is a technique which greatly simplifies the pricing function by setting the same price for items with similar characteristics.

Accepted Answer

A) Odd pricing 
B) Leader pricing 
C) Price lining 
D) Geographical pricing 
A) Odd pricing 
B) Leader pricing 
C) Price lining 
D) Geographical pricing

Question 2

F.O.B.factory is a variation of ________ pricing.

Accepted Answer

A) opportunistic 
B) bundling 
C) geographic 
D) skimming 
A) opportunistic 
B) bundling 
C) geographic 
D) skimming

Question 3

When using a skimming price strategy,small business owners should remember that:

Accepted Answer

A) it is difficult to correct pricing mistakes with this strategy. 
B) it is a long-term policy and it will take time to see appropriate results. 
C) if a price is set too low initially,it can be very hard to raise it later. 
D) it is an excellent strategy for discouraging competitors from entering the market. 
A) it is difficult to correct pricing mistakes with this strategy. 
B) it is a long-term policy and it will take time to see appropriate results. 
C) if a price is set too low initially,it can be very hard to raise it later. 
D) it is an excellent strategy for discouraging competitors from entering the market.

Question 4

Even though cost-plus pricing is simple,it does not encourage a small business to use its resources efficiently.

Accepted Answer

A) True 
 B)False

Question 5

Jerry is developing a pricing strategy for an established line of home care products.His premium products are priced over $4000,his best products are in the $2540 range,and his good products are $1015 range.Jerry is using a ________ strategy.

Accepted Answer

A) penetration pricing 
B) leader pricing 
C) price lining 
D) geographic pricing 
A) penetration pricing 
B) leader pricing 
C) price lining 
D) geographic pricing

Question 6

________ include(s)the unit cost of a manufacturer's product under an absorption costing system.

Accepted Answer

A) Opportunity costs 
B) Depreciation 
C) Insurance 
D) Variable costs 
A) Opportunity costs 
B) Depreciation 
C) Insurance 
D) Variable costs

Question 7

Trade accounts are the equivalent of a credit card that is issued by the business.

Accepted Answer

A) True 
 B)False

Question 8

For manufacturers,the pricing decision requires the support of accurate sales records.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is a fair definition of price?

Accepted Answer

A) In purely economic terms,price is the monetary value of a good or service. 
B) Price is a measure of what a customer is required to give up to obtain a good or service. 
C) None of the above 
D) Both A and B 
A) In purely economic terms,price is the monetary value of a good or service. 
B) Price is a measure of what a customer is required to give up to obtain a good or service. 
C) None of the above 
D) Both A and B

________ is a technique which greatly simplifies the pricing function by setting the same price for items with similar characteristics.

F.O.B.factory is a variation of ________ pricing.

When using a skimming price strategy,small business owners should remember that:

Even though cost-plus pricing is simple,it does not encourage a small business to use its resources efficiently.

Jerry is developing a pricing strategy for an established line of home care products.His premium products are priced over $4000,his best products are in the $2540 range,and his good products are $1015 range.Jerry is using a ________ strategy.

________ include(s)the unit cost of a manufacturer's product under an absorption costing system.

Trade accounts are the equivalent of a credit card that is issued by the business.

For manufacturers,the pricing decision requires the support of accurate sales records.

Which of the following is a fair definition of price?

Entrepreneurs: the Driving Force Behind Small Business

Ethics and Social Responsibility: Doing the Right Thing

Creativity and Innovation: Keys to Entrepreneurial Success

Strategic Management and the Entrepreneur

Choosing a Form of Ownership

Franchising and the Entrepreneur

Buying an Existing Business

New Business Planning Process: Feasibility Analysis,business Modeling,

Building a Bootstrap Marketing Plan

Creative Use of Advertising and Promotion

Global Marketing Strategies

E-Commerce and Entrepreneurship

Creating a Solid Financial Plan

Managing Cash Flow

Sources of Equity Financing

Sources of Debt Financing

Location,layout,and Physical Facilities

Supply Chain Management

Managing Inventory

Staffing and Leading a Growing Company

Management Succession and Risk Management Strategies in the Family Business

The Legal Environment: Business Law and Government Regulation

Filters

Exam 11: Pricing and Credit Strategies

________ is a technique which greatly simplifies the pricing function by setting the same price for items with similar characteristics.

F.O.B.factory is a variation of ________ pricing.

When using a skimming price strategy,small business owners should remember that:

Even though cost-plus pricing is simple,it does not encourage a small business to use its resources efficiently.

Jerry is developing a pricing strategy for an established line of home care products.His premium products are priced over $4000,his best products are in the $2540 range,and his good products are $1015 range.Jerry is using a ________ strategy.

________ include(s)the unit cost of a manufacturer's product under an absorption costing system.

Trade accounts are the equivalent of a credit card that is issued by the business.

For manufacturers,the pricing decision requires the support of accurate sales records.

Which of the following is a fair definition of price?

Entrepreneurs: the Driving Force Behind Small Business

Ethics and Social Responsibility: Doing the Right Thing

Creativity and Innovation: Keys to Entrepreneurial Success

Strategic Management and the Entrepreneur

Choosing a Form of Ownership

Franchising and the Entrepreneur

Buying an Existing Business

New Business Planning Process: Feasibility Analysis,business Modeling,

Building a Bootstrap Marketing Plan

Creative Use of Advertising and Promotion

Global Marketing Strategies

E-Commerce and Entrepreneurship

Creating a Solid Financial Plan

Managing Cash Flow

Sources of Equity Financing

Sources of Debt Financing

Location,layout,and Physical Facilities

Supply Chain Management

Managing Inventory

Staffing and Leading a Growing Company

Management Succession and Risk Management Strategies in the Family Business

The Legal Environment: Business Law and Government Regulation

Filters