Review Test Submission: Final Exam
Content
User
La`Nequa Ferguson
Course
MKT520-01-SPRING-2020 Marketing Management
Test
Final Exam
Started
4/30/20 9:17 PM
Submitted
4/30/20 10:16 PM
Due Date
4/30/20 11:59 PM
Status
Completed
Attempt Score
40 out of 50 points
Time Elapsed
58 minutes out of 1 hour
2 out of 2 points
A Napa Valley restaurateur plans to open an upscale wine bar where every glass of wine is priced at $15. Her rent in a popular California tourist area is steep; she must also pay high prices to advertise in trendy magazines and to hire people who are knowledgeable about wine. As a result of these and other factors, the wine bar’s fixed monthly cost is $50,000. Most of the variable costs are a function of wholesale wine prices and storage expenses, producing a unit margin of $10. If increased competition forces the restaurateur to cut her price by $2.50 per glass of wine, what would be the breakeven volume?
Use the formula BEV = (fixed costs) / (unit margin). Hint: If she cuts price her unit margin will reduce.
Microsoft offers students and parents a 10% educational discount on select products sold through Microsoft online. Which of the following price customization tool is Microsoft using?
2 out XX X XXXXXX
A firm’s XXXXXXXXX to XXXX is XXXXX XX:
X out of X XXXXXX
All XX the XXXXXXXXX are inputs XX any value-pricing XXXXXXXX EXCEPT:
X out XX X XXXXXX
XXX the following XXXXXXXXXX XXXXXXXX XXXXXXXX sensitivity to price EXCEPT:
X out XX 2 points
Marginal XXXX is a XXXXXXXXXX tool XXXX XX assess the XXXXXX in XXXX XXXXX required to maintain profitability in XXXXX XX a XXXXXX in XXXXXXX price.
X out XX 2 XXXXXX
Using a XXX-price policy (i.e., XXXXX all buyers XXX the XXXXX XXXX) is the only fair approach XX XXXXXXX. XX XXX United XXXXXX, it XX illegal for companies to customize XXXXXX.
XXX demand XXXXX suggests XXXX an auto XXXXXXXXXXXX will XXXX XX,XXX XXXXXXXX-Benz X-Class vehicles when XXXX are priced XX $50,XXX, XXX when XXX XXXXX is XXXXXXX XX $XX,XXX, XXXX XXXXXXXX will XXXXXXXX to XX,XXX units. What is the resulting elasticity?
Hint: XXXXX Elasticity of Demand = (% XXXXXX in XXXXXXXX demanded) / (% change in XXXXX).% change in XXXXXXXX demanded = (XXX quantity - XXX quantity) / XXX XXXXXXXX.% change in XXXXX = (new XXXXX - old price) / XXX price
Marketers XXXXX assess XXX true economic XXXXX (XXX) XX XXXXX all of XXX XXXXXXXXX XXXXXX:
Betty’s XXXXXXX Bags sells gently used, pre-XXXXX XXXXXXXX XXXXXXXX. XX its XXXXXXX, it compares XXX manufacturer’s XXXXXXXXX retail XXXXX (MSRP) for XXX designer handbags XX the XXXXX’s XXXXX for its handbags. In XXXX XXXXXXX, XXXXXXXXX’ XXXXX sensitivity XXXXXX XX XXXXXXXXXX as compared XX XXXXXXXXXX in XXXXX XXXXXXXXX XXXXXX easily compare prices.
X out of X points
A three-day pass XX Disney World in the XXXXXX XXXXXX XXXXX $169 XXX day, or $XX per day XXX a XXXX-day pass. XXXXX XX XXX following price customization tool XX XXXXXX using?
2 out of 2 XXXXXX
XXX of the following XXX examples XX commonly used market research XXXXXXXXXX XXX assessing price XXXXXXXXXXX XXXXXX:
Marketers XXXXX XXX which of the XXXXXXXXX technique XX XXXXXXXXX XXX impact XX a price change?
XXXXXX is the difference between the XXXXX XXXXXXX generated XXX cost XX goods sold.
2 out XX 2 XXXXXX
XXX the factors XXXXX XXXXXX how a company might XXXXXXXXX prices EXCEPT:
2 out of X XXXXXX
An aspect XX product performance that is XXXXXXX-XXXXXXXX, such as XXXXXX for an automobile, increases price XXXXXXXXXXX.
0 out XX X points
XXXXXXXXX XXXXXX Lines controls the availability XX prices by offering XXXXX XX specific XXXXXX of XXXXXX XXXXX on all XX the following XXXXXX:
XXXXXXX XXXXXXXXXX of XXXXXXXXXXX XX price include all XX the following XXXXXX:
X out of 2 points
Which of XXX following choices XX NOT one XX XXX XXXXXXX cost-XXXX pricing is so popular?
XXXXXXXXX XXXXXX a XXXXXXX XX XXXXX XX XXXXXX to its XXXXXXXXX XX various price XXXXXX XXXXX XX XXX quality XX the coffee XXXXX XXX XXXXX XXX XXXXXX XX XXXXX. This is an XXXXXXX XX:
Assume that XXX variable cost XX Marie’s XXXX cheese salad dressing XX $X.00 XXX XX XX. XXXXXX, XXXX Marie’s sells it XX XXX XXXXXX XXX $2.00, XXX that XXX XXXXXX sells it XX the retailer XXX $2.XX. The XXXXX XX XXXXXX XX $3.XX. What XXX XXX XXXXXXX XXX XXX manufacturer, broker and XXXXXXXX? XXXXXX round to the XXXXXXX percent.
X out XX X points
n order XX XXXX a margin but also create demand at XXX XXXXX XXX of price XXXXXXX, the firm is XXXXX by XXX XXXXXX’ XXXXXXXXX value (XX) for XXX product, which is XXXXXXXXXX both XX the XXXX XXXXXXXX XXXXX (TEV) XX XXX XXXXXXX XXX a buyer and how XXXX the company’s marketing XXXXXXX communicate XXXX XXX. XX XXX lower end of XXXXX setting, the firm considers XXX XXXX-XX-XXXXX-sold (XXXX).
XXXXX of the following XXXXXXX is XXX an example XX a business-to-XXXXXXXX (XXX) XXXXX becoming more XXXXXXXXXXXXX XXX deliberate about purchasing smartphones for XXX sales force?
XXXXXX a boutique clothing XXXXX uses cost-XXXX pricing where it XXXXXXX XXX purchase costs XX set its retail prices. For example, XXX store purchases t-shirts for $10 XXX XXXXX them for $20. XXXXX of XXX XXXXXXXXX scenarios XXXXX XXXXX XXX store to XXXXXXXXXX XXX pricing strategy?
2 out XX 2 points
X XXXXXXXX’s incentive to purchase XX XXXXX XX: