Mkt 319 Practice Exam

MKT 319 Practice Exam

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Please circle the most appropriate response.


1.   What do Expedia, Travelocity, and Priceline have in common?
a. They are three websites that use the same Internet service provider (ISP).
b. They are companies that use reverse auctions to sell their merchandise.
c. They are three online websites that only sell to businesses.
d. They are all franchise operations that operate in the business-to-business market only.
e. They are the three leading online travel websites.

2.   Barter is the practice of exchanging goods and services for other goods and services rather than for:
a. value.
b. perceptions.
c. money.
d. promises.
e. tariffs.

3. Loss-leader pricing is:
a. a pricing method where the price the seller quotes includes all transportation costs.
b. setting the same price for similar customers who buy the same product and quantities under the same conditions.
c. deliberately selling a product below its customary price to attract attention to it.
d. a method of pricing based on a product's tradition, standardized channel of distribution, or other competitive factors.
e. pricing based on intensity of customer demand.

4. Using __________, many retailers deliberately sell products below their normal prices (and sometimes below cost) to attract attention and induce additional store traffic.
a. customary pricing
b. above-market pricing
c. loss-leader pricing
d. prestige pricing
e. skimming pricing

5. A type of retail outlet that focuses on one type of product at very competitive prices and often dominates the market is called a:
a. general merchandise store.
b. specialty outlet.
c. hypermarket.
d. category killer.
e. regional dominator.

6. __________ is any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor....