Contemporary Business Chapter 14
Date / Time
Student Score
Passing Score
Result
March 14, 2024
1:43 am
84.61
50
Pass
Contemporary Business Chapter 14
#
Question
Correct
Answer
Student
Answer
Result
Points
Awarded
1
From what Marco has shared, how would you advise
Marco to proceed?
Marco should
create a sales
incentive plan
for his retail
employees to
achieve
certain sales
goals during
periods of
slow sales.
Marco should
create a sales
incentive plan
for his retail
employees to
achieve
certain sales
goals during
periods of
slow sales.
Correct
1
2
Which is more likely?
Marco’s
promotional
strategy
should focus
on product
differentiation.
This is
consistent
with Marco’s
goals.
Marco’s
promotional
strategy
should focus
on making
sure that
product value
is
accentuated.
This will
make his
designs more
attractive
than those of
his
competitors.
Incorrect
0
3
Ads for breakfast cereals containing nutritional data
providing
information
providing
information
Correct
1
4
Positioning a product as upscale, expensive, high
quality, and exclusive
differentiating
a product
differentiating
a product
Correct
1
5
Lowering hotel room rates during the off season
stabilizing
sales
stabilizing
sales
Correct
1
6
Placing stickers on a car’s windshield to remind a
customer of their next oil change date
stabilizing
sales
stabilizing
sales
Correct
1
7
Hair care ads promoting benefits such as shine and
volume
providing
information
providing
information
Correct
1
8
Expanding a product line to appeal to another
demographic
increasing
sales
increasing
sales
Correct
1
9
A car dealership offering a 4-year roadside assistance
package with no mileage limits
accentuating
product value
accentuating
product value
Correct
1
10
Adding new designs and colors to a popular line of T-
shirts
increasing
sales
increasing
sales
Correct
1
11
Offering an “affordable” laptop computer
differentiating
a product
differentiating
a product
Correct
1
12
Marco would like to differentiate his product from that
of his competitors but still make his clothing
affordable. Which pricing objective would satisfy this
goal?
pricing to
meet
competition
pricing to
meet
competition
Correct
1
13
Which of the following pricing objectives is Mitchell
suggesting Marco adopt?
prestige
objective
prestige
objective
Correct
1
14
Reducing the amount of product within a package but
keeping the price steady
profitability
objective
profitability
objective
Correct
1
15
Company A acquires Company B in order to capture
25% of the available market share for a particular
product line or category.
volume
objective
volume
objective
Correct
1
16
A gas station lowers its price to match the price of
other gas stations within the same neighborhood.
pricing to
meet
competition
pricing to
meet
competition
Correct
1
17
A company charges high prices for its product based
on perceived image and exclusivity.
prestige
objective
prestige
objective
Correct
1
18
Review the email and determine which pricing
strategy the sender is likely suggesting.
skimming
pricing
skimming
pricing
Correct
1
19
Review the email and determine which pricing
strategy the sender is likely suggesting.
cost-based
pricing
cost-based
pricing
Correct
1
20
Review the email and determine which pricing
strategy the sender is likely suggesting.
everyday low
pricing
everyday low
pricing
Correct
1
21
Review the email and determine which pricing
strategy the sender is likely suggesting.
competitive
pricing
competitive
pricing
Correct
1
22
Determining the total cost to produce a product and
then adding a markup to cover overhead costs and
generate profit.
cost-based
pricing
competitive
pricing
Incorrect
0
23
Setting intentionally high prices relative to the prices
of competing products. This strategy often works well
for new products or services that have little to no
competition or to help distinguish a company’s high-
end products from those of its competitors.
skimming
pricing
cost-based
pricing
Incorrect
0
24
Maintaining continuous low prices rather than relying
on short-term price-cutting tactics such coupons,
rebates, or special sales.
everyday low
pricing
skimming
pricing
Incorrect
0
25
An attempt to reduce the emphasis on price by
matching other companies’ prices and concentrating
on its own marketing efforts related to the product,
distribution, and promotional elements of the
marketing mix.
competitive
pricing
competitive
pricing
Correct
1
26
From what you now know about the various pricing
strategies and based on Marco’s business goals,
which option would you suggest Marco use?
competitive
pricing
competitive
pricing
Correct
1
