
ENT 5.01
Quiz
•
Computers
•
9th - 12th Grade
•
Hard
Riley Grubb
Used 5+ times
FREE Resource
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is an example of a business using a flexible pricing policy?
Establishing prices that are competitive
Lowering prices during bad economic times
Setting prices as low as possible
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do some new companies set their selling prices as low as they can?
To get market share as fast as possible
To eliminate all possible competition
To earn a high return on investment
To quickly make a large profit
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The price function often influences the place function by determining which information?
When the product is made
Why the product is shipped
How the product is advertised
Where the product is sold
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One reason why the target market of a business affects its pricing is because consumers in each target market usually perform which action?
Monitor the industry standard
Expect a large product mix
Prefer products in the growth stage
Judge the value of products differently
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the costs of raw materials increase considerably, a business is likely to perform which action?
Maintain similar profit margins as its competitors
Implement a long-term markup pricing policy
Continue following the same marketing strategies
Increase the selling price of a product
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
During which stage of the product life cycle is a business likely to try to stabilize the price of the product?
Expansion
Introductory
Obsolescence
Maturity
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why would a manager of a local business keep track of the prices that similar businesses in the area are charging?
To remain competitive
To improve advertising
To promote image
To offer new services
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