Final exam pool items (Chs. 9, 11, 12, 13, 14, 15 & 17 not 18)



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a.

status quo

b.

psychological

c.

profit-oriented

d.

sales-oriented

e.

supply-derived


ANS: C

Because it has no competitors to speak of, status quo objectives are unlikely. It is not interested in maximizing its sales, so sales-oriented objectives are also not likely.

PTS: 1 REF: 256 OBJ: 17-2 TYPE: Comp

TOP: AACSB Reflective Thinking | TB&E Model Pricing | TB&E Model Strategy

128. Refer to the American Girl Doll. The popularity of the American girl dolls is so great that an increase in the price of the basic Kristen doll and books by 5 percent will not significantly affect the demand for the product. The means that the demand for the American Girl doll is:

a.

elastic

b.

derived

c.

a multiplier

d.

inelastic

e.

symmetrical


ANS: D PTS: 1 REF: 259 OBJ: 17-3 TYPE: Def

TOP: AACSB Reflective Thinking | TB&E Model Strategy

129. Refer to the American Girl Doll. Which of the following factors is most likely to affect the elasticity of demand for the doll?

a.

the absence of substitutes

b.

the existence of complementary products

c.

the price relative to purchasing power

d.

product durability

e.

a variety of alternative uses for the product


ANS: A

There is nothing like the American Girl doll in terms of historical accuracy.

PTS: 1 REF: 260 OBJ: 17-3 TYPE: Comp

TOP: AACSB Reflective Thinking | TB&E Model Pricing | TB&E Model Product

130. Refer to the American Girl Doll. In terms of the costs of producing the doll and its accessories, the salary of the graphic designer who does the layout for the American Girl catalog is a(n):

a.

markup cost

b.

variable cost

c.

fixed cost

d.

derived cost

e.

elastic cost


ANS: C

Salaries are considered fixed costs.

PTS: 1 REF: 262 OBJ: 17-5 TYPE: Comp

TOP: AACSB Reflective Thinking | TB&E Model Strategy

131. Refer to the American Girl Doll. In terms of producing the doll and its accessories, the calico fabric used to make Kristen's dress is an example of a(n):

a.

markup cost

b.

variable cost

c.

fixed cost

d.

derived cost

e.

elastic cost


ANS: B

How much fabric used depends on how many dolls made.

PTS: 1 REF: 262 OBJ: 17-5 TYPE: Comp

TOP: AACSB Reflective Thinking | TB&E Model Strategy

132. Refer to the American Girl Doll. You can buy a doll at Wal-Mart for $5.99. The high price of the American Girl doll is used to promote a high-quality image. The American Girl uses a _____ pricing strategy.

a.

markup

b.

demand-based

c.

prestige

d.

penetration

e.

supply-derived


ANS: C PTS: 1 REF: 269 OBJ: 17-6 TYPE: Def

TOP: AACSB Reflective Thinking | TB&E Model Pricing

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