Price And Promotions Quiz
10 Questions
| Attempts: 214
This quiz will give me an indication of how well your teams did in teaching each other, and if I need to revisit or reteach concept.
Questions and Answers
- 1.Which of the following is not part of the promotional mix
- A.
Personal Selling
- B.
Advertising
- C.
Sales Promotion
- D.
Location based customer tracking
- 2.Promotion is persuasive communication
- A.
True
- B.
False
- 3.This type of advertising is directed to a targeted group of prospects and customers rather than a mass audience
- A.
Institutional promotion
- B.
Product promotion
- C.
Direct marketing
- 4.Consumers will buy only so much of a given product, even though the price is low, represent what
- A.
Law of diminishing marginal utility
- B.
Break-even point
- C.
Demand elasticity
- 5.Elastic demand refers to situations in which a change in price creates a change in demand
- A.
True
- B.
False
- 6.Calculate the break-even point for a music CD that costs $12 to make and market and that will be sold for $15. The total quantity that will be sold at that price is 200,000
- A.
160,000
- B.
2,400,000
- C.
500
- 7.Which of the following is a factor the affects prices
- A.
Type of product you carry
- B.
Supply and demand
- C.
How many family members
- 8.Bundle pricing refers to price adjustments required because of the location of the customer
- A.
True
- B.
False
- 9.A technique that involves setting prices that all end in either odd or even numbers is known as:
- A.
Prestige Pricing
- B.
Odd-Even Pricing
- C.
Multiple-Unit Pricing
- 10.There are 7 steps in determining prices
- A.
True
- B.
False
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