BUAD 332 Exam 3, business logistics exam, supply chain management, BUAD test
questions, operational strategy, BUAD 332 answers, logistics exam 2025
What is the narrow definition of a Price? - (answer)price is the amount of money charged for a product
or service
What is the broad definition of a Price? - (answer)price is the sum of all the values that consumers
exchange for the benefits of having or using the product or service
What is an example of 2 things costing the same and not having the same price? - (answer)Clark boots
from Amazon vs. from Dillard's
What are the 4 Internal Factors that affect the Pricing Decisions? - (answer)Marketing objectives,
Marketing mix strategies, Costs, Organizational considerations
What are the 3 External Factors that affect the Pricing Decisions? - (answer)Nature of the market and
demand, Competition, Other environmental factors (economy, government, resellers, social concerns)
What are the 4 Marketing Objectives? - (answer)Survival, Current Profit Maximization, Market Share
Leadership, Product Quality Leadership
Marketing Object about Low prices hoping to increase demand - (answer)Survival
Marketing Objective about Chose the price that produces the maximum current profit - (answer)Current
Profit Maximization
Marketing Objective about low as possible prices to become the market share leader - (answer)Market
Share Leadership
,BUAD 332 Exam 3, business logistics exam, supply chain management, BUAD test
questions, operational strategy, BUAD 332 answers, logistics exam 2025
Marketing Objective about high prices to cover higher performance quality and R&D - (answer)Product
Quality Leadership
What is an example of Product Quality Leadership? - (answer)Pharmaceuticals
Costs that don't
vary with sales or
production levels - (answer)Fixed Costs
Costs that do vary
directly with the
level of production - (answer)Variable Costs
_______ determines the price floor, _______ determines the price ceiling - (answer)Cost; customers
What are the 3 External Factors Affecting Pricing Decisions - (answer)1. Markets and Demand, 2.
Competitor's Costs, Prices, and Offers, and Other External Factors (Economic Conditions, Reseller
Reactions, Government Actions, and Social Concerns)
Pricing Decision from Many Buyers and Sellers Who Have Little Effect on the Price - (answer)Pure
Competition
What is an example of Pure Competition? - (answer)Wheat
Pricing Decision from Many Buyers and Sellers Who Trade Over a Range of Prices - (answer)Monopolistic
Competition
, BUAD 332 Exam 3, business logistics exam, supply chain management, BUAD test
questions, operational strategy, BUAD 332 answers, logistics exam 2025
What is an example of Monopolistic Competition? - (answer)Clothing
Pricing Decision from Few Sellers Who Are Sensitive to Each Other's Pricing/ Marketing Strategies -
(answer)Oligopolistic Competition
What is an example of Oligopolistic Competition? - (answer)Airline industry, cell phone provider
Pricing Decision from a Single Seller - (answer)Pure Monopoly
What is an example of a Pure Monopoly? - (answer)Utilities companies, some say pharmaceutical
companies
Demand that if you raise price, the demand does not change very much - (answer)Inelastic
Demand that if price changes, there is a big difference in demand - (answer)Elastic
What do marketers want to do regarding price elasticity? - (answer)Reduce it
Setting a High Price for a New Product to Skim Maximum Revenues from the Target Market; Results in
Fewer, But More Profitable Sales. - (answer)Market Skimming
What are the 3 conditions of Market Skimming? - (answer)1. Product's Quality and Image Must Support
Its Higher Price, 2. Costs Can't be so High that They Cancel the Advantages of Charging More, 3.
Competitors Shouldn't be Able to Enter Market Easily and Undercut the High Price
questions, operational strategy, BUAD 332 answers, logistics exam 2025
What is the narrow definition of a Price? - (answer)price is the amount of money charged for a product
or service
What is the broad definition of a Price? - (answer)price is the sum of all the values that consumers
exchange for the benefits of having or using the product or service
What is an example of 2 things costing the same and not having the same price? - (answer)Clark boots
from Amazon vs. from Dillard's
What are the 4 Internal Factors that affect the Pricing Decisions? - (answer)Marketing objectives,
Marketing mix strategies, Costs, Organizational considerations
What are the 3 External Factors that affect the Pricing Decisions? - (answer)Nature of the market and
demand, Competition, Other environmental factors (economy, government, resellers, social concerns)
What are the 4 Marketing Objectives? - (answer)Survival, Current Profit Maximization, Market Share
Leadership, Product Quality Leadership
Marketing Object about Low prices hoping to increase demand - (answer)Survival
Marketing Objective about Chose the price that produces the maximum current profit - (answer)Current
Profit Maximization
Marketing Objective about low as possible prices to become the market share leader - (answer)Market
Share Leadership
,BUAD 332 Exam 3, business logistics exam, supply chain management, BUAD test
questions, operational strategy, BUAD 332 answers, logistics exam 2025
Marketing Objective about high prices to cover higher performance quality and R&D - (answer)Product
Quality Leadership
What is an example of Product Quality Leadership? - (answer)Pharmaceuticals
Costs that don't
vary with sales or
production levels - (answer)Fixed Costs
Costs that do vary
directly with the
level of production - (answer)Variable Costs
_______ determines the price floor, _______ determines the price ceiling - (answer)Cost; customers
What are the 3 External Factors Affecting Pricing Decisions - (answer)1. Markets and Demand, 2.
Competitor's Costs, Prices, and Offers, and Other External Factors (Economic Conditions, Reseller
Reactions, Government Actions, and Social Concerns)
Pricing Decision from Many Buyers and Sellers Who Have Little Effect on the Price - (answer)Pure
Competition
What is an example of Pure Competition? - (answer)Wheat
Pricing Decision from Many Buyers and Sellers Who Trade Over a Range of Prices - (answer)Monopolistic
Competition
, BUAD 332 Exam 3, business logistics exam, supply chain management, BUAD test
questions, operational strategy, BUAD 332 answers, logistics exam 2025
What is an example of Monopolistic Competition? - (answer)Clothing
Pricing Decision from Few Sellers Who Are Sensitive to Each Other's Pricing/ Marketing Strategies -
(answer)Oligopolistic Competition
What is an example of Oligopolistic Competition? - (answer)Airline industry, cell phone provider
Pricing Decision from a Single Seller - (answer)Pure Monopoly
What is an example of a Pure Monopoly? - (answer)Utilities companies, some say pharmaceutical
companies
Demand that if you raise price, the demand does not change very much - (answer)Inelastic
Demand that if price changes, there is a big difference in demand - (answer)Elastic
What do marketers want to do regarding price elasticity? - (answer)Reduce it
Setting a High Price for a New Product to Skim Maximum Revenues from the Target Market; Results in
Fewer, But More Profitable Sales. - (answer)Market Skimming
What are the 3 conditions of Market Skimming? - (answer)1. Product's Quality and Image Must Support
Its Higher Price, 2. Costs Can't be so High that They Cancel the Advantages of Charging More, 3.
Competitors Shouldn't be Able to Enter Market Easily and Undercut the High Price
