MARK 201 Exam 3 Questions with Correct Answers Latest Update 2025/2026
Price - Answers value of a customer echanges for a products benefits
pricing constraints - Answers internal company goals VS. eternal market limits
demand curve - Answers shows how many units will sell at different pricing (price/quantity)
price elasticity - Answers measures how sensitive demand change
elastic - Answers price change causes a larger demand change
inelastic - Answers price change causes a smaller demand change
break-even point - Answers units to sell to cover all costs
break-even point effect - Answers higher price or lower cost = fewer units needed to break even
approximate price level - Answers Demand-oriented approaches
Cost-oriented approaches
Competition-oriented approaches
Demand oriented - Answers based on customer value
Cost oriented - Answers cost plus a markup
competition oriented - Answers based on competitor prices
Final list price factors - Answers pricing policy (fixed vs. flexible), company effects, buyer
psychology
price adjustments - Answers discounts, allowance, geographical
discounts - Answers for early payment, volume, season
allowance - Answers reductions like trade-ins
geographical - Answers adjustments for shipping costs
Pricing laws - Answers price fixing, price discrimination, deceptive pricing
price fixing - Answers illegal competitor agreements on price
price discrimination - Answers changing different prices without justification
deceptive pricing - Answers advertising misleading prices
marketing channel - Answers organizations that make a product available
Price - Answers value of a customer echanges for a products benefits
pricing constraints - Answers internal company goals VS. eternal market limits
demand curve - Answers shows how many units will sell at different pricing (price/quantity)
price elasticity - Answers measures how sensitive demand change
elastic - Answers price change causes a larger demand change
inelastic - Answers price change causes a smaller demand change
break-even point - Answers units to sell to cover all costs
break-even point effect - Answers higher price or lower cost = fewer units needed to break even
approximate price level - Answers Demand-oriented approaches
Cost-oriented approaches
Competition-oriented approaches
Demand oriented - Answers based on customer value
Cost oriented - Answers cost plus a markup
competition oriented - Answers based on competitor prices
Final list price factors - Answers pricing policy (fixed vs. flexible), company effects, buyer
psychology
price adjustments - Answers discounts, allowance, geographical
discounts - Answers for early payment, volume, season
allowance - Answers reductions like trade-ins
geographical - Answers adjustments for shipping costs
Pricing laws - Answers price fixing, price discrimination, deceptive pricing
price fixing - Answers illegal competitor agreements on price
price discrimination - Answers changing different prices without justification
deceptive pricing - Answers advertising misleading prices
marketing channel - Answers organizations that make a product available
