15 May QuestionMK201 Chapters 12,13 – Week 5 Quiz Questions
Question
MK201 Chapters 12,13 – Week 5 Quiz Questions
Directions: Select the best response for each. Please post your selections in the Blackboard response section numbered 1-30 with response to each corresponding question.
Due: Sunday at midnight for each week of this course.
Scenario 12.1
Use the following to answer the questions.
Concession Supply sells hotdogs, buns, and nacho ingredients to several major league ballparks across the country. Currently, Concession Supply has the following pricing information for one case of hotdogs sold at Wrigley Field: Total fixed costs = $1,200, Selling price = $16, and Variable costs = $6.
1. Refer to Scenario 12.1. To break even, Concession Supply should sell ____ cases of hot dogs per day at Wrigley Field.
| a. | 13 |
| b. | 120 |
| c. | 40 |
| d. | 200 |
| e. | 60 |
2. Refer to Scenario 12.1. What is the breakeven point in dollar sales volume?
| a. | $1,200 |
| b. | $1,440 |
| c. | $3,000 |
| d. | $1,920 |
| e. | $1,600 |
3. Refer to Scenario 12.1. If Concession Supply increased its price by 10 percent and experienced only a 2 percent decrease in the demand for hotdogs, the demand would be
| a. | inelastic. |
| b. | common. |
| c. | prestige. |
| d. | elastic. |
| e. | marginal. |
4. Refer to Scenario 12.1. If Concession Supply wanted to make a profit of $800 on each case, it would need to sell ____ cases.
| a. | 150 |
| b. | 300 |
| c. | 100 |
| d. | 75 |
| e. | 200 |
Scenario 12.2
Use the following to answer the questions.
The BASF Chemical Company in Germany has developed a new rubberized coating. The product has an application for cell phones and other hand-held electronic devices that gives them protection from falls and scratches. BASF plans to market the product directly to businesses that manufacture the casings for these types of products. BASF currently uses a system of salespeople headquartered in Germany, while its primary business customers are in China.
5. Refer to Scenario 12.2. BASF has decided to offer discounts to its businesses customers in the form of the following: For each order of $100,000 or more during the next 90 days, the buyer will receive a rebate of 5 percent. This type of pricing would be an example of ____ discounts.
| a. | allowance |
| b. | cash |
| c. | seasonal |
| d. | noncumulative |
| e. | cumulative |
6. Refer to Scenario 12.2. BASF is considering the problem of actual distance in delivering its product from the plant in Germany to some of its customers in China. Which pricing strategy would help overcome this problem?
| a. | Geographic |
| b. | Transfer |
| c. | Commercial |
| d. | Transit |
| e. | Factory |
7. Refer to Scenario 12.2. If BASF were to employ pricing that includes the price at the factory plus freight charges from a chosen point nearest the buyer, this would be an example of ____ pricing.
| a. | factory plus |
| b. | dispersion |
| c. | base-point |
| d. | freight absorption |
| e. | uniform geographic |
8. Refer to Scenario 12.2. If BASF were to price its product in barrels from the factory, before it is loaded on the carrier, this would be an example of ____ pricing.
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