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Cards In This Set
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A company that manages apartments decides to buy 15 new dishwashers at a list price of $550 each as replacements for old dishwashers in a small apartment complex it owns. Because the company is buying more than 10 dishwashers, it is eligible for a $150-per-unit quantity discount. Financing charges total $20 per unit. The company gets $10 per dishwasher for the 15 dishwashers traded in. What is the final price the company will pay for each dishwasher?
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$410
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Tara is enrolled for spring semester at college. The tuition is $6,000, but she has a scholarship for $1,000 as well as a work-study grant of $1,500. The health fees and student activity fees are $150 for the semester. What is the final price that Tara will pay for the spring semester?
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$3650.
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When Pizza Hut announced it was going to add 25 percent more toppings to its Meat Lover’s line of pizzas without increasing prices, what consumer motivation was it appealing to?
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Value.
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The ratio of the firm’s sales revenues or unit sales to those of the industry (competitors plus the firm itself) is referred to as ______________.
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Market Share.
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The ___________ equation = (Unit price × Quantity sold) − Total cost.
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Profit.
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Rents, executive salaries, and insurance are typical examples of ___________.
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Fixed Costs.
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Variable cost refers to __________.
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The sum of the expenses of the firm that vary directly with the quantity of a product that is produced and sold. (Example: Direct labor and direct materials used in producing the product and the sales commissions that are tied directly to the quantity sold)
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Break-even analysis refers to __________.
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A technique that analyzes the relationship between total revenue and the total cost to determine profitability at various levels of output.
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Ace Shoe Company sells heel replacement kits for men’s shoes. It has fixed costs of $6 million and unit variable costs of $5 per pair. Ace would like to earn a profit of $2 million; how many pairs must they sell at a price of $15?
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Cost + Profit = Revenue 6million + 5x + 2 million = 15 x
X = 800,000 Pairs |
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The difference between the retailer’s cost and the initial selling price is referred to as __________.
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Markup
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Large strip malls that often have two to five anchor stores, a supermarket, and are designed to bring shoppers on a weekly basis are referred to as _______.
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Power Center
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An indicator used to compare the increase in sales of stores that have been open for the same period of time is called ___________.
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Comp Store Sales
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The four stages of the retail life cycle are ________________.
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Early growth, acceletated development, maturity, decline
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Retailers that integrate and leverage their stores, catalogs, and websites have seen __________.
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Increased Revenues
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The ___________ element of the marketing mix consists of communication tools, including advertising, personal selling, sales promotion, public relations, and direct marketing.
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Promotion.
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