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University of Massachusetts, Amherst MARKETING 301 Ch

Marketing

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2. _______________ is the pricing objective that tries to make as much money as possible.
3. Which of the following is NOT a way that managers can expand revenue?
   1. employee bonuses
   2. increase customer satisfaction
   3. reduce costs
   4. improve efficiency
4. _____________ is the pricing objective that seeks profits consistent with the level of risk that a company faces.
5. Apple’s iPhone accounts for 30% of all smartphone sales. This figure reflects the iPhone’s_______________
6. To increase sales, Ford offers its 2010 model-year cars at the same price as 2009 models. This is an example of __________________
7. Higher prices for goods and services will ____________ demand.
8. Lower prices for goods and services will ____________ supply.
9. According to ____________, an increase in the price in gasoline will not lead to a decrease in sales.
10. A candy manufacturer decreased prices of its products by 20% but saw no change in total revenue. This is an example of ______________
11. Research has shown that high inflation will make demand more _____________
12. An organization’s payroll, insurance, and utility costs are all examples of _____________
13. The _____________ of a new car includes the price that the dealer had to pay to the manufacturer for the car, salary and benefits expenses for dealer employees, and a certain amount for profit.
14. The price of a product is set high during the_________________ stage of the product life cycle.