Chapter 5- marketing

Chapter 5- marketing

Assessment

Flashcard

Business

10th Grade

Practice Problem

Hard

Created by

Wayground Content

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59 questions

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1.

FLASHCARD QUESTION

Front

The Extremity Aversion Theory lets us as marketers know that:

Back

People tend to avoid extreme price options

2.

FLASHCARD QUESTION

Front

If your company offers unlimited language learning downloads for a flat fee of $30 a month, this would be an example of flat-rate pricing.

Back

TRUE

3.

FLASHCARD QUESTION

Front

A market is considered elastic if a change in price DOES NOT produce a substantial change in demand.

Back

FALSE

4.

FLASHCARD QUESTION

Front

In high-risk purchases, cheap pricing can lead to drastic reduction in demand. Why is this?

Back

In high-risk purchases, need for service quality outweighs the need for a cheap price.

5.

FLASHCARD QUESTION

Front

If you increase the price of your product by 100% and demand doesn't change, this would be considered an inelastic market.

Back

TRUE

6.

FLASHCARD QUESTION

Front

What is the main appeal of bundle pricing to the consumer?

Back

Bundle pricing is usually priced below what the consumer would pay to buy each item separately.

7.

FLASHCARD QUESTION

Front

An example of variable costs is the cost of material to make the product.

Back

TRUE

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