Start a Business Final Review 5

Developed by: Dan

FINAL REVIEW

Question 1: Usually set by costs, Price>Costs

	Price Floor
	Price Ceiling
	Price Maximum
	Price Minimum

Question 2: Maximum Price a P/S can sell for

	Price Minimum
	Price Floor
	Price Ceiling
	Price Maximum

Question 3: Critical Pricing factors include:

	Complementary products and Distributive Network
	Savings to the buyer
	Market Perceived Value (Inverse Demand Curve)
	All of the above
	Competition/Substitution Prices

Question 4: Motivate ____ Orders

	Small
	Medium
	Large

Question 5: Include:

	All of the above
	Locking in the customer
	Creative Pricing
	Avoid Price Conflicts

Question 6: Be aware:

	Costs associated with terms
	Unwanted Customers
	Non-billable time
	All of the above

Question 7: Skimming the cream, price at top of range providing time to increase inventory

	Price Skimming
	Creative Pricing
	Penetration Pricing

Question 8: Lower price strategy

	Price Skimming
	Creative Pricing
	Penetration Pricing

Question 9: Sell benefits not the product/service

	Penetration pricing
	Price skimming
	Creative pricing

Question 10: Pricing strategies include:

	Penetration Pricing
	Volume Discounts and Creative Pricing
	Price Skimming
	Perceived Value
	All of the above

Question 11: How a business reaches (Informs) its existing and potential market (customers) about its product or service

	Placing Your Business
	Pricing Your Business
	Promoting your business

Question 12: Key Questions to answer when Promoting your business:

	All of the above
	What is your target market? (Who is the customer)?
	What do your customers value?
	Why is your business unique?
	What is the benefit you provide the customer?

Question 13: Direct-Sales Force, Manufacturer’s Reps or Sales agents, Lead blockers Market Penetration method:

	E-Commerce
	Media Oriented
	Alternative
	External Sales
	Business Alliances

Question 14: Distributors Franchising (TM/Brand name, product distribution, business-format, affiliate) Licensing Exporting (To what degree of control) Market Penetration Method:

	Media Oriented
	Business Alliances
	External Sales
	E-Commerce

Question 15: Media Advertising (Newspapers, Magazines, TV, Radio) Key issues (Market exposure, frequency, drive time, cost) Direct mail Mail order advertising and catalog operations Publicity (customer, news stories, features articles) Community involvement Promotional gimmicks (give away items) Market Penetration Method:

	Media Oriented
	External Sales
	E-Commerce
	Alternative

Question 16: Infomercials Fax Marketing Electronic Media Interactive Kiosks Internet-e-mail and websites Market Penetration Method:

	E-Commerce
	External Sales
	Alternative

Question 17: Trade shows Signs/Signage Stationary and business cards Fliers and handbills Yellow Pages Coupons Postcards Market Penetration Method:

	Alternative
	E-Commerce
	Media Oriented
	External Sales

SheKnows

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