Marketing Pricing Preview

Which of the following would NOT be classified as a selling price?

• Membership dues

• College tuition

• Price tag on new hoodie

• Donation to church

Which of the following is NOT a component of the selling price?

• product costs

• operating costs

• desired profit

• CEO bonus

What is the difference between a company's cost and the selling price?

• markup

• greed

• it's not clear

• employee wages

The purpose of a sales-oriented pricing objective is to increase:

• Customers coming through the door

• Total money made from sales

• Market visibility

• profits

The purpose of a profit-oriented pricing objective is to:

• create the most financial gain

• increase customers coming into the store

• minimize costs

• increase sales

Which is an example of a variable cost?

• rent on a building

• insurance

• loan repayments

• materials used for a t-shirt

Which is an example of a fixed cost?

• delivery costs

• rent

• materials

If demand becomes really high for a product, a company can charge:

• MORE

• LESS

If there is limited (low) supply of a product, a company can charge:

• MORE

• LESS

Once a selling price is set, it _____ be changed.

• can

• can NOT