MKTG 304 Final Terms Question and answers correctly solved
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Module
MGT 6311
Institution
MGT 6311
MKTG 304 Final Terms Question and answers correctly solved MKTG 304 Final Terms
value - correct answer the ratio of perceived benefits to price
demand curve - correct answer a graph relating the quantity sold and price, which shows the maximum number of units that will be sold at a given...
MKTG 304 Final Terms
value - correct answer ✔the ratio of perceived benefits to price
demand curve - correct answer ✔a graph relating the quantity sold and price,
which shows the maximum number of units that will be sold at a given price
price elasticity of demand - correct answer ✔the percentage change in
quantity demanded relative to a percentage change in price
break-even analysis - correct answer ✔a technique that analyzes the
relationship between total revenue and total cost to determine profitability at
various levels of output
target pricing - correct answer ✔Consists of (1) estimating the price that
ultimate consumers would be willing to pay for a product, (2) working
backward through markups taken by retailers and wholesalers to determine
what price to charge wholesalers, and then (3) deliberately adjusting the
composition and features of the product to achieve the target price to
consumers.
cost-plus pricing - correct answer ✔summing the total unit cost of providing a
product or service and adding a specific amount to the cost to arrive at a price
fixed-price policy - correct answer ✔setting one price for all buyers of a
product or service (aka one-price policy)
dynamic pricing policy - correct answer ✔setting different prices for products
and services in real time in response to supply and demand conditions
, marketing channel - correct answer ✔consists of individuals and firms
involved in the process of making a product or service available for use or
consumption by consumers or industrial users
vertical marketing system - correct answer ✔professionally managed and
centrally coordinated marketing channels designed to achieve channel
economies and maximum marketing impact
logistics - correct answer ✔those activities that focus on getting the right
amount of the right products to the right place at the right time at the lowest
possible cost
supply chain - correct answer ✔a sequence of firms that perform activities
required to create and deliver a product or service to ultimate consumers or
industrial users
promotional mix - correct answer ✔the combination of one or more of the
communication tools used to inform, persuade, or remind prospective buyers
advertising - correct answer ✔any paid form of non-personal presentation
and promotion of ideas, goods, or services by an identified sponsor
public relations - correct answer ✔a form of communication management
that seeks to influence the feelings, opinions, or beliefs held by customers,
prospective customers, stockholders, suppliers, employees, and other publics
about a company and its products or services
sales promotion - correct answer ✔a short-term inducement of value offered
to arouse interest in buying a product or service
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