What sets the ceiling, or upper limit, of a product’s price?
Correct answer B. Demand
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Marketing MCQs
Page 38 of Marketing multiple-choice questions with answers. Tap an option to check yourself.
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- Developing Marketing Strategies and Plans 137
- Analyzing Consumer Markets 124
- Creating Brand Equity 98
- Products, Services and Brands 95
- Consumer Markets and Buyer Behavior 93
- New Product Development 89
- Customer Driven Marketing Strategy 86
- Product Strategy Setting 80
- Analyzing Business Markets 69
- Conducting Marketing Research 69
- Collecting Information and Forecasting Demand 65
- Integrated Marketing Channels 55
- Identifying Market Segments and Targets 47
- Pricing Capturing Customer Value 43
- Company and Marketing Strategy 40
- Introduction to Marketing 40
- Pricing Strategy 40
- Personal Selling and Sales Promotion 37
- Analyzing Marketing Environment 34
- Marketing Communications Customer Value 31
- Designing and Managing Services 29
- Marketing Channels 28
- Retailing and Wholesaling Strategy 28
- Creating Long-term Loyalty Relationships 27
- Global Marketplace 25
- Competitive Dynamics 25
- Business Markets and Buyer Behavior 24
- Managing Marketing Information Customer Insights 23
- Direct and Online Marketing 22
- Sustainable Marketing Social Responsibility and Ethics 20
- Competitive Advantage 17
Which pricing method bases price on buyers’ perceptions of value, including customer support, warranty and service?
Correct answer D. Perceived value pricing
Dividing total cost by the level of production gives which cost figure?
Correct answer B. Average costs
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Image pricing, location pricing, channel pricing and time pricing are all forms of which degree of price discrimination?
Correct answer C. Third degree
What is the auction type with one seller and many buyers, where bidders raise the price until the top bidder wins, called?
Correct answer C. English auctions
Which type of price discrimination charges less to customers who buy in large volumes?
Correct answer A. Second-degree price discrimination
What is the bidding method in which each would-be supplier submits only one bid without knowing the others called?
Correct answer C. Sealed-bid auctions
Which form of countertrade is the direct exchange of goods between buyer and seller without money or a third party?
Correct answer C. Barter
In what type of industry are commodities such as paper, fertiliser and steel typically sold?
Correct answer A. Oligopolistic industry
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Which price-cutting trap gains market share but not market loyalty, because customers move to any cheaper firm?
Correct answer B. Fragile-market-share trap
When a price cut leads customers to assume the product’s quality has fallen, what is this trap called?
Correct answer D. Low-quality trap
Demand for a particular product is likely to fall if its price is what?
Correct answer D. High
If the unit cost is $30, the desired return is 75%, invested capital is $60,000 and 20,000 units are sold, what is the target-return price?
Correct answer C. $32.25
In which direction does the demand curve for prestige goods sometimes slope?
Correct answer A. Upward
If total cost is $70,000 and production is 30,000 units, what is the average cost?
Correct answer A. $2.33
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Maximum current profit, market skimming, product-quality leadership and market share are all options when doing what?
Correct answer C. Select pricing objective
Which pricing technique charges a constant low price with few or no temporary promotions?
Correct answer D. Everyday low pricing
Adding fixed cost divided by unit sales to the variable cost gives which figure?
Correct answer D. Unit cost
What is buying behaviour called when consumers are highly involved in a purchase and see significant differences between brands?
Correct answer A. Complex buying behaviour
Dividing the unit cost by (1 minus the desired return on sales) gives which figure?
Correct answer C. Markup price