Quiz Detail

Q1 . What costs do businesses usually include in the price of their products?

A Regulations

B Inflation

C Transportation

D Orientations

Q2 . Companies A, B, and C sell similar products. Together, they recently decided to sell their products for the same price. In what unethical activity are the businesses engaging?

A Bait-and-Switch

B Price fixing

C Lass-leader pricing

D Gray markets

Q3 . A business charges a small company a higher price for a product than it charges a large company for the same product. What does this represent?

A Price discrimination

B Controlled pricing

C Price competition

D Regulated pricing

Q4 . What is an external factor that affects the price that a busienss charges for its products?

A Operating costs

B Variable expenses

C Economic conditions

D Employee benefits

Q5 . What is an example of an unethical pricing practice?

A A company prices its products low in an attempt to drive its competitors out of business

B A business increases its prices when the cost of the materials to make the products increases

C A firm sets a business objective to increase its profit margins over the next five years

D A business prices a new product line to reflect high quality and status.

Q6 . What would be the most appropriate pricing strategy for a business in a small town where unemployment has skyrocketed and the economy is in a downturn?

A Below-cost pricing

B High-level pricing

C Odd-cents pricing

D Flexible pricing

Q7 . How does technology help businesses when it enables them to obtain and analyze vast amounts of information that impact the pricing function?

A By generating profit-and-loss statements

B By deciding how much to spend on advertising

C By calculating the cost of hiring more employees

D By determining the best time to adjust prices

Q8 . What is the advantage to a business of using bar-code pricing?

A Easier for customers to read

B Reduces required business security

C Easier to change prices

D Reduces the number of employees needed for sales

Q9 . Why do some new companies set their selling prices as low as they can?

A To eliminate the competition

B To get market share as fast as possible

C To earn a high return on investment

D To quickly make a large profit

Q10 . What pricing tactic might be considered questionable by some businesses?

A Matching the prices of a competitor

B Developing a complex pricing structure

C Marking up prices to earn a profit

D Providing a reference price

Marketing Quiz Trivia Questions!