The determination of an exchange price acceptable to both the buyer and the seller of a
product is called
MKT 4.01, 4.02, & 4.03 Quiz
Quiz
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Other
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9th - 12th Grade
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Medium
Olivia Tarnowski
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The determination of an exchange price acceptable to both the buyer and the seller of a
product is called
pricing
product decision
place decision
promotion decision
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A buyer is willing to pay $9.99 for a product. If the seller is willing to accept that amount, then $9.99 is
the
demand
value
markdown
exchange price
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sellers must carefully set prices so that buyers feel they are receiving __________ value for their money.
no
little
minimum
optimum
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
With what do many customers associate price?
quality
discounts
comfort
location
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Can pricing affect a business’s image?
Yes; a business with low prices may have a discount image.
Yes; a business with low prices will have a prestigious image.
No; pricing does not affect a business’s image.
No; pricing affects only selling and customer decisions.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which area of promotion will pricing affect?
Choice of transportation channels
Advertising budget
Where the product is offered
Materials used in production
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Covering costs is a pricing objective related to
profitability
sales
competition
image
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