Price And Promotions Quiz

10 Questions | By Patrickjenkins | Last updated: Mar 25, 2019 | Total Attempts: 136

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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