mgt 103 midterm 2 material Exam | Questions with
100% Correct Answers | Verified | Latest Update
2026
Save
Practice questions for this set
Learn 1 /7 Study using Learn
- Crisis management
- 4 helpful requirements - acknowledge, apologize, rectify, have
leader deliver message
Choose an answer
______________ is the only marketing mix
1 2 price strategies
variable that can be changed quickly
how would you get the increase in PR is critical when a firm's image is at
3 4
demand without changing price risk due to negative information
Don't know?
,Terms in this set (110)
______________ is the only marketing mix price
variable that can be changed quickly
price is related to total revenue and Profit = Total Revenue - Total Costs
profit
(include 2 equations) Profit = (Price x Quantity Sold) - Total Costs
Price includes ______, ______, ______, ______, money, effort, time favors, votes
______, or anything else that has value
to the other party
value = x/x perceived benefits
---------------------
price
how would you get the increase in decreasing supply
demand without changing price expanding target market
change distribution strategy
inelastic demand** a change in price results in a little or no change in
quantity demanded
elastic demand** a change in price causes a great (opposite) change
, types of csots fixed costs
variable costs
fixed costs expenses that do not vary as a function of output
volume (even if no production activity
- rent, mortgage payment, insurance, computers,
salary of full-time workers, advertising
variable costs expenses that fluctuate in direct proportion to the
output volume of units produced
- cost of raw materials, credit card fees, piece rate
labor, sales commissions, delivery expenses
**vary in accordance with how many sales you
have made or how much you have produced
break even point and profit point --> always round up btw
equations (will be put on test)
what is the objective of your price objectives can include
- sales in $
- market share
- short term profit maximization
- short term revenue maximization
- customer satisfaction
- image enhancement
- social responsibility
100% Correct Answers | Verified | Latest Update
2026
Save
Practice questions for this set
Learn 1 /7 Study using Learn
- Crisis management
- 4 helpful requirements - acknowledge, apologize, rectify, have
leader deliver message
Choose an answer
______________ is the only marketing mix
1 2 price strategies
variable that can be changed quickly
how would you get the increase in PR is critical when a firm's image is at
3 4
demand without changing price risk due to negative information
Don't know?
,Terms in this set (110)
______________ is the only marketing mix price
variable that can be changed quickly
price is related to total revenue and Profit = Total Revenue - Total Costs
profit
(include 2 equations) Profit = (Price x Quantity Sold) - Total Costs
Price includes ______, ______, ______, ______, money, effort, time favors, votes
______, or anything else that has value
to the other party
value = x/x perceived benefits
---------------------
price
how would you get the increase in decreasing supply
demand without changing price expanding target market
change distribution strategy
inelastic demand** a change in price results in a little or no change in
quantity demanded
elastic demand** a change in price causes a great (opposite) change
, types of csots fixed costs
variable costs
fixed costs expenses that do not vary as a function of output
volume (even if no production activity
- rent, mortgage payment, insurance, computers,
salary of full-time workers, advertising
variable costs expenses that fluctuate in direct proportion to the
output volume of units produced
- cost of raw materials, credit card fees, piece rate
labor, sales commissions, delivery expenses
**vary in accordance with how many sales you
have made or how much you have produced
break even point and profit point --> always round up btw
equations (will be put on test)
what is the objective of your price objectives can include
- sales in $
- market share
- short term profit maximization
- short term revenue maximization
- customer satisfaction
- image enhancement
- social responsibility
