ENT 5.01

ENT 5.01

9th - 12th Grade

8 Qs

quiz-placeholder

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ENT 5.01

ENT 5.01

Assessment

Quiz

Computers

9th - 12th Grade

Hard

Created by

Riley Grubb

Used 5+ times

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8 questions

Show all answers

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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