Multiple questions:
Question 1
If a profit-oriented marketing manager does not know the exact shape of the firm's demand curve, marginal analysis:
is useless.
will suggest the same price as break-even analysis.
may be useful anyway since a profitable region usually surrounds the best price.
suggests that the only sensible approach is to use average-cost pricing.
Question 2
In the development of a marketing plan, blending the marketing mix would not generally involve
predicting future behavior.
product lines.
product life cycle.
sales promotion.
Question 3
Which of the following statements about ethical behavior in business is TRUE?
The legal environment sets the highest standard of ethical behavior.
The legal environment sets the maximum standard of ethical behavior.
The legal environment sets the minimal standard of ethical behavior.
The legal environment sets the normative standard of ethical behavior.
Question 4
Elijah has classified the following items under variable costs. Which item has he classified INCORRECTLY?
expenses for parts
wages
outgoing freight
property taxes
Question 5
Given the following data, compute the break-even point (BEP) in DOLLARS. Selling price = $2.00, Variable cost = $00, Fixed cost = $150,000
$300,000
$400,000
$150,000
$200,000
Question 6
Marketers estimating the demand curve:
do not have to worry about price competition due to the nature of the demand curve.
can use marginal analysis to help it maximize profits.
will have to charge the market price which is set by the intersection of industry supply and demand.
could use marginal analysis to compare alternatives--but this would not help in pricing because this method focuses on selling one more unit and therefore ignores total profitability.
Question 7
A low stockturn rate:
is extremely good for profits.
decreases inventory carrying cost.
ties up working capital.
is typical of fresh fruits and vegetables.
Question 8
Which of the following statements is a challenge facing marketers?
If it ain't broke, don't fix it.
Change is the only thing that is constant.
We need to reject international competition.
We need to use technology as much as possible.
Question 9
Which of the following statements BEST describes a markup?
A markup is a dollar amount subtracted from the cost of products to get the selling price.
A markup is the selling price minus the cost of the item, divided by the cost of the item-times 100.
A markup is the selling price of an item, divided by its cost-times 100.
A markup is a dollar amount added to the cost of products to get the selling price.
Question 10
The reason that MICRO-marketing costs too much in many firms is that:
the marketing concept has not been accepted and implemented.
most new products are not necessary to meet competition.
marketing is not really needed.
advertising is usually ineffective.
Question 11
Why do many department stores seek a markup of about 30% when some discount houses operate on a 20% markup? Identify and explain at least three reasons.
Your response should be at least 300 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Question 12
Should a marketing manager or a business refuse to produce an "energy-gobbling" appliance that some consumers are demanding? Should a firm install an expensive safety device that will increase cost but that customers do not want? Are the same principles involved in both these questions? Explain.
Your response should be at least 300 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.