29 Jun Question 1. The price of an executive
Question
1. The price of an executive is a _____, the price of a salesperson is a _____, and the price of a worker is a _____.
a. commission; wage; salary
b. wage; commission; salary
c. salary; wage; commission
d. salary; commission; wage
2. _____ is the amount of money charged for a product or service.
a. Experience curve
b. Demand curve
c. Price
d. Wage
3. Little Roses’ Floral Design sells flowers at one set price to all buyers. What is this an example of?
a. total costs
b. fixed costs
c. variable costs
d. dynamic pricing
4. Big Mike’s Health Food Store sells nutritional energy-producing foods. The price of the products sold varies according to individual customer accounts and situations. For example, long-time customers receive discounts. This strategy is an example of _____.
a. price elasticity
b. cost-plus pricing
c. dynamic pricing
d. value pricing
5. Price is the only element in the marketing mix that produces _____.
a. revenue
b. variable costs
c. expenses
d. fixed costs
6. Companies set _____ as their major objective if they are troubled by too much capacity, heavy competition, or changing consumer wants.
a. current profit maximization
b. survival
c. market share leadership
d. product quality leadership
7. Lawnmowers of Chicago is a landscaping company established throughout the American Midwest. Upon entering a new community, lower prices are asked for their services. After gaining a respectable reputation in a new area, prices are gradually increased. Starting a business in this manner is an example of which marketing objective?
a. current profit maximization
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