Mutiple choices...
1- If demand is elastic rather than inelastic seller will consider:
a. implementing price promotion to increase sales
b. introducing line extansion
c. maintaining the statues quo
d. raising their price too the point of inelasticity
2- In market-penetraction pricing, the company's objective is to_________, believing that higher sales volume will lead to lower unit costs and higher long-run profits.
a. Maximize volume
b. None of the above "explain"
3- The most logical way to approach a pricing decision is to consider the value (use + economic) that your product will provide consumers. Regardless of the nature of the product/service, the starting point in such an approach to pricing is:
a. Positive points of party
b. Negative ponts of differentiation
c. If not on the above, 'explain"
4- Which of the following is likely to make market inelastic?
a. When something is perceived as a shopping good
b. When the product under consideration is radically new innovation
c. When a consumer has to bear the entire cost
d. When the market is filled with many similar offerings
5- the most optimal price is one that is based on
a. Profit maximization
b. Value as determined bu the customer
c. Maximizing market share