4.00 Test Review Fashion

Jason purchased a sweater from a local men’s apparel retailer. The price he paid was the:

• cost

• extended price.

• keystone price.

• retail price.

Which of the 4 P’s deals with the location of a product?

• Product

• Price

• Place

• Promotion

Which of the 4 P’s deals with the packaging of a product?

• Product

• Price

• Place

• Promotion

Which of the 4 P’s deals with the advertising of a product?

• Product

• Price

• Place

• Promotion

Most department and fashion specialty stores calculate markup percent based on:

• cost

• markdown

• markup

• retail price

When a product is in high demand, prices usually:

• decrease

• fluctuate

• increase

• remains the same

Trey buys his wife a new purse for Mother’s Day. She immediately begins to use it on a daily basis. In this example, what is the wife’s role?

• Consumer

• Wholesaler

• Servicer

• Supplier

Jason purchased a sweater from a local men’s apparel retailer. The price he paid was the:

• keystone price.

• extended price

• retail price.

• cost

What advantage could there be to a retailer pricing an area rug at $79.99 instead of $80?

• They will make less money selling at this price

• The customer will perceive this price as a value and might be more likely to buy

• The customer likes to pay an even amount to avoid getting back change

• There is no advantage to pricing this way

When supply is high, price is usually:

• High

• Low

• Stable

• Variable