Explore topic-wise MCQs in Marketing Knowledge.

This section includes 5 Mcqs, each offering curated multiple-choice questions to sharpen your Marketing Knowledge knowledge and support exam preparation. Choose a topic below to get started.

1.

When demand elasticity is hard to measure, firms feel that ________ form of pricing makes sense. The idea is that the collective wisdom of the industry will produce a price that will yield a fair return. Which of the following pricing methods is most appropriate to the description just given?

A. Cost-plus pricing
B. Break-even pricing
C. Everyday low pricing
D. Going-rate pricing
E. None of these
Answer» E. None of these
Discussion
2.

If a seller were to set prices based on buyers’ perceptions of value rather than on the seller’s costs, the seller would be using which of the following forms of pricing?

A. Competition-based pricing
B. Going-rate pricing
C. Cost-based pricing
D. Value-based pricing
E. None of these
Answer» E. None of these
Discussion
3.

A company must pay each month’s bills for rent, heat, interest, and executive salaries. Such costs would most appropriately be labelled as:

A. Total costs
B. Variable costs
C. Fixed costs
D. Dynamic costs
E. None of these
Answer» D. Dynamic costs
Discussion
4.

All of the following would be considered to be among the external factors that affect price decaisions EXCEPT:

A. Nature of the market and demand
B. Competition
C. Environmental factors such as the economy and social concerns
D. Costs
E. None of these
Answer» E. None of these
Discussion
5.

All of the following would be considered to be among the internal factors that affect price decisions EXCEPT:

A. Competition
B. Costs
C. Marketing objectives
D. Organizational considerations
E. None of these
Answer» B. Costs
Discussion