30 MC Questions - see attached
1. Price had historically been the most important tool int he marketing of good or services that are considered commodities (e.g., milk). To reduce the importance of price, marketeres should do which of the following?
(a) stress product/service benefits
(b) reduce costs through economies of sale
(c) engage in comparative pricing
(d) use unit pricing as a competitive tool
(a) Stress product / service benefits.
By differentiating their products / services from the other firms, the marketers can reduce the importance of price in the decision process and can sell their product on the basis of special packaging, delivery and services.
(b) Valid job evaluation process will help both the employer and the employee to assess that the compensation systems is externally competitive and ensure internal pay equity and incentive.
(D) Equity Theory
(c) $25 Since currently there is no access capacity. It sells as many it can produce, the relevant contribution margin for comparison is $30-$18-$5=$7. Since for the new order the relevant variable cost is only $18, thus the minimum price should be $18+$7=$25. Had there been any excess capacity, then minimum acceptable price would have been anything where contribution margin is >0
(A) on time performance record for business ...
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