MKT 300 Exam questions and answers well defined

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MKT 300 Exam questions and answers well defined

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MKT 300 Exam questions and answers well defined

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MKT 300 Exam questions and
answers well defined and graded
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What is price? - ANS✅✅- The value that you exchange for getting the goods/service

- Could be money or something else

Marketing Objectives - ANS✅✅- maximize profits

- gain market share

- infer a level of quality

- survive

External Factors of Price - ANS✅✅1. Demand for product

2. Competition

- competitor prices

- strength of competition

3. Economy

- cost of components

- Economic conditions

Profit -Oriented - ANS✅✅- profit maximization

- satisfactory products

- return of investment

Status Quo - ANS✅✅- maintain price

- meet competitor price

Sales oriented - ANS✅✅- market shares

- sales maximum

, Elastic demand - ANS✅✅- change price a little, people run to or away

Inelastic Demand - ANS✅✅- change price, people still need it

... coefficient - ANS✅✅... 1

Methods of COst-based pricing - ANS✅✅1. Markup pricing

- keystoning (double the cost)

2. Break even pricing

Captive product prcing - ANS✅✅- razor + blades mentality

- get you to buy the main thing, and you will buy the auxillary shit

Price bundling - ANS✅✅- combine related goods into package deal

- phone, internet, cable

Price adjustments - ANS✅✅- discounts

- flexible (variable) pricing

- flexible (variable) pricing - ANS✅✅- different segments pay different prices

- kids eat free, off peak, senior citizen or students

Pyschological - ANS✅✅- odd/even pricing

- 99 principle

- Reference pricing (what you expect)

What affects Price? - ANS✅✅- Competition

- Distribution strategy

- Promotion strategy

- The relationship of price to quality

- Substitutes

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Uploaded on: September 30, 2025
Number of pages: 12
Written in: 2025/2026
Type: Exam (elaborations)
Contains: Questions & answers

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