MARKETING 3000 (ACTUAL 2025/2026) JOEL POOR EXAM 3
(GRADED) A+
Routine or low involvement goods are usually priced low,
intensively distributed and rely on __________ as main
promotional tool - ---answer-----advertising
What is the best promotional tool for chewing gum? - ---
answer-----advertising
Limited involvement in goods and are usually priced
moderately, selectively distributed rely on ___________ as the
main promotional tool - ---answer-----balance between
advertising and personal selling
Cell phones need (a) ________________ promotional tool(s) - ---
answer-----balance between advertising and personal selling
Extensive involvement in the goods and high priced items
which are exclusively or very selectively distributed rely on
_____________ as the main promotional tool - ---answer-----
personal selliing
Cars are best sold by using (a) ________________ promotional
tool(s) - ---answer-----personal selling
,What is price elasticity? - ---answer-----how much a change
in price affects quantity demanded
In class examples of in-elastic goods include - ---answer----
-gas, medicine, electric, milk
What is penetration pricing? - ---answer-----set prices
extremely low in order to gain the majority of the sales at the
cost of profit
What is price skimming? - ---answer-----set prices high in
order to achieve quick high profits
(in class example apple)
What are some in class examples of perishable products? - --
-answer-----produce, tickets, hotel rooms
Short term demand - ---answer-----demanded only for a
short time (wrapping paper around christmas)
Distinctive products are... - ---answer-----generally higher
quality and higher priced items
(rolex watches, fiji water)
,Nature of competition generally tells us that.... - ---answer---
--the more competition their is the lower the average price is
going to be
The going rate (competitive) pricing - ---answer-----priced
based on competitions price
Perceived pricing - ---answer-----priced based off of what
the consumers perceived value is
Markup pricing equation - ---answer-----unit cost= variable
cost + (fixed cost/unit sales)
What is the unit cost if....
Variable cost= 10
Fixed cost= 300,000
Expected unit sales= 50,0000 - ---answer-----$16
Break-even occurs when.... - ---answer-----revenue
surpasses costs and a profit is being made
What is the advantage of loss leader pricing - ---answer-----
by pricing one item significantly low you gain a potential
customer who might buy many other items
Special event pricing is usually used in... - ---answer-----car
dealerships
, Jc penny uses anchoring and adjustment, this could be
comparable to.... - ---answer-----psychological discounting
Discriminatory pricing is - ---answer-----legal as long as it
doesn't substantially hinder the competition (pharmaceutical
charging more for non insurance customer)
Based on class notes, what are some factors that affect
promotional mix - ---answer------ target audiences, stage of
product life cycle, product characteristic, buyer decision,
distribution channel strategy
A product in the introductory stage of the life cycle would
benefit the most from - ---answer-----publicity
A product in the growth stage of the life cycle would benefit
the most from... - ---answer-----personal selling to channel
members
What are some examples of commercials of companies in the
maturity stage - ---answer-----geico, budweiser
The higher the complexity and purchase risk the greater the
need for - ---answer-----personal selling
(GRADED) A+
Routine or low involvement goods are usually priced low,
intensively distributed and rely on __________ as main
promotional tool - ---answer-----advertising
What is the best promotional tool for chewing gum? - ---
answer-----advertising
Limited involvement in goods and are usually priced
moderately, selectively distributed rely on ___________ as the
main promotional tool - ---answer-----balance between
advertising and personal selling
Cell phones need (a) ________________ promotional tool(s) - ---
answer-----balance between advertising and personal selling
Extensive involvement in the goods and high priced items
which are exclusively or very selectively distributed rely on
_____________ as the main promotional tool - ---answer-----
personal selliing
Cars are best sold by using (a) ________________ promotional
tool(s) - ---answer-----personal selling
,What is price elasticity? - ---answer-----how much a change
in price affects quantity demanded
In class examples of in-elastic goods include - ---answer----
-gas, medicine, electric, milk
What is penetration pricing? - ---answer-----set prices
extremely low in order to gain the majority of the sales at the
cost of profit
What is price skimming? - ---answer-----set prices high in
order to achieve quick high profits
(in class example apple)
What are some in class examples of perishable products? - --
-answer-----produce, tickets, hotel rooms
Short term demand - ---answer-----demanded only for a
short time (wrapping paper around christmas)
Distinctive products are... - ---answer-----generally higher
quality and higher priced items
(rolex watches, fiji water)
,Nature of competition generally tells us that.... - ---answer---
--the more competition their is the lower the average price is
going to be
The going rate (competitive) pricing - ---answer-----priced
based on competitions price
Perceived pricing - ---answer-----priced based off of what
the consumers perceived value is
Markup pricing equation - ---answer-----unit cost= variable
cost + (fixed cost/unit sales)
What is the unit cost if....
Variable cost= 10
Fixed cost= 300,000
Expected unit sales= 50,0000 - ---answer-----$16
Break-even occurs when.... - ---answer-----revenue
surpasses costs and a profit is being made
What is the advantage of loss leader pricing - ---answer-----
by pricing one item significantly low you gain a potential
customer who might buy many other items
Special event pricing is usually used in... - ---answer-----car
dealerships
, Jc penny uses anchoring and adjustment, this could be
comparable to.... - ---answer-----psychological discounting
Discriminatory pricing is - ---answer-----legal as long as it
doesn't substantially hinder the competition (pharmaceutical
charging more for non insurance customer)
Based on class notes, what are some factors that affect
promotional mix - ---answer------ target audiences, stage of
product life cycle, product characteristic, buyer decision,
distribution channel strategy
A product in the introductory stage of the life cycle would
benefit the most from - ---answer-----publicity
A product in the growth stage of the life cycle would benefit
the most from... - ---answer-----personal selling to channel
members
What are some examples of commercials of companies in the
maturity stage - ---answer-----geico, budweiser
The higher the complexity and purchase risk the greater the
need for - ---answer-----personal selling
