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Final Exam Review With Questions And 100% ALL SURE ANSWERS
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JACKLINEFinal Exam Review With Questions And 100% ALL SURE ANSWERS
Terms in this set (53)
Because there are many firms in monopolistic e) The many competitors will focus on product differentiation
competition markets
a) Everyone is a price taker
b) Producers do not have to consider the
reactions of rival firms
c) Government often encourages consolidation to
reduce the number of companies
d) Price controls may be implemented
e) The many competitors will focus on product
differentiation
We have an expert-written solution to this problem!
For which of the following is demand likely to be c) Prescription drugs
least sensitive to price increases?
a) Spring Break vacations
b) A specific brand of cereal
c) Prescription drugs
d) Theater tickets
e) Restaurant meals
Final Exam Review
1/16
,9/18/24, 10:48 PM
Customers must see value in a product or service e) A demand curve
before they are willing to exchange time or money
to obtain it. However, not all customer see the
same value in a product. To analyze how many
units will be sold at any given price point,
marketers draw on
a) A Break-Even analysis
b) Economies of scale
c) Multiple regression analyses
d) The law of averages
e) A demand curve
A markup or target return price is most closely c) Channel Members
associated with which of the Five C's of Pricing?
a) Competition
b) Customers
c) Channel Members
d) Costs
e) Company Objectives
The Diffusion of Innovation model is best b) categories of consumer behavior when face with the introduction of something new
described as _______
a) a product development process
b) categories of consumer behavior when face
with the introduction of something new
c) the phase that most consumer products follow
from introduction to product withdraw
d) a useful approach to guide business decisions
regarding resource allocation across a portfolio of
brands
Final Exam Review
2/16
, 9/18/24, 10:48 PM
Although launched more than 15 years ago, the e) None of the Above
Apple iPhone still delivers over $200 billion of
revenue for Apple each year. This demonstrated
that the iPhone is in which stage of diffusion of
innovation?
a) Early Majority
b) Late Majority
c) Early Adoption
d) Laggards
e) None of the Above
A friend who is excited about owning his first b) Laggards
cellular phone is likely in which Diffusion of
innovation category?
a) Late Majority
b) Laggards
c) Early Majority
d) Early Adopters
Sara is continually online to see what the famous b) Early Adopters
TikTok, Instagram and YouTube personalities, who
often called innovators, are doing. She then bases
many of her clothing, makeup, and hairstyle
decisions on what she sees. Sara is most likely in
which Diffusion of Innovation category?
a) Innovators
b) Early Adopters
c) Early Majority
d) Late Majority
Carlos is fearless when it comes to his extreme c) Innovators
sports vacations. He especially enjoys rock
climbing and the rock climbing gear companies
often send him prototype products to test before
they launch them in the market. Carlos is always
first in line for new products. Carlos is most likely
in which Diffusion of Innovation category?
a) Late Majority
b) Early Majority
c) Innovators
d) Starter
Final Exam Review
3/16
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