MGT 103 MARKETING EBERHARD
FINAL COMPREHENSIVE STUDY
GUIDE 2026 FULL QUESTIONS AND
SOLUTIONS GRADED A+
◍ Price.
Answer: Only marketing mix that can be changed quickly
◍ Inelastic Demand.
Answer: Change in price results in little or no change in quantity demanded
◍ Elastic Demand.
Answer: Change in price causes a great change in demand
◍ Fixed costs.
Answer: Don't change with number of units produced
◍ Variable costs.
Answer: Production costs tied to number of units produced and vary
depending on volume
◍ Cost based pricing.
Answer: Calculating price based on company's cost
◍ Demand based pricing.
Answer: Setting a price based on what consumers are willing to pay
◍ Endowment Effect.
Answer: Creating ownership through money back guarantees and free trial
periods
◍ Skimming pricing.
Answer: Setting a high initial price when a product is first launched, then
, gradually lowering it
◍ Penetration pricing.
Answer: Setting a low initial price to quickly attract a large number of
customers
◍ Trial pricing.
Answer: Offering a product at a low price or free for a limited time to
encourage adoption
◍ False former price comparison.
Answer: Advertiser advertises a price reduction based on fictitious former
price. (illegal if it was never allowed to have previous price)
◍ captive pricing.
Answer: company sells a core product at a low price to attract customers,
while core product is not enough for intended use. other products must be
bought.
◍ Anchor and adjustment.
Answer: Anchoring high to get consumer to buy moreex:Seeing a deal in big
font (4 for 5), making us think we have to buy that amount when we don't
need to. Just need phone numberHaving no limit for amount they can
buy/limiting to certain number->increases sales
◍ Marketing environment.
Answer: Six forces surrounding the customer and affect marketing mix
◍ Direct channel.
Answer: The manufacturer directly contacts consumers, no middle people.
Sold from own site.
◍ Advantages of direct channel.
Answer: Know when they buy/return, access to consumer data, closer
contact with end user to build relationships, possibly greater cost efficiency
in lr
◍ Disadvantages of direct channel.
FINAL COMPREHENSIVE STUDY
GUIDE 2026 FULL QUESTIONS AND
SOLUTIONS GRADED A+
◍ Price.
Answer: Only marketing mix that can be changed quickly
◍ Inelastic Demand.
Answer: Change in price results in little or no change in quantity demanded
◍ Elastic Demand.
Answer: Change in price causes a great change in demand
◍ Fixed costs.
Answer: Don't change with number of units produced
◍ Variable costs.
Answer: Production costs tied to number of units produced and vary
depending on volume
◍ Cost based pricing.
Answer: Calculating price based on company's cost
◍ Demand based pricing.
Answer: Setting a price based on what consumers are willing to pay
◍ Endowment Effect.
Answer: Creating ownership through money back guarantees and free trial
periods
◍ Skimming pricing.
Answer: Setting a high initial price when a product is first launched, then
, gradually lowering it
◍ Penetration pricing.
Answer: Setting a low initial price to quickly attract a large number of
customers
◍ Trial pricing.
Answer: Offering a product at a low price or free for a limited time to
encourage adoption
◍ False former price comparison.
Answer: Advertiser advertises a price reduction based on fictitious former
price. (illegal if it was never allowed to have previous price)
◍ captive pricing.
Answer: company sells a core product at a low price to attract customers,
while core product is not enough for intended use. other products must be
bought.
◍ Anchor and adjustment.
Answer: Anchoring high to get consumer to buy moreex:Seeing a deal in big
font (4 for 5), making us think we have to buy that amount when we don't
need to. Just need phone numberHaving no limit for amount they can
buy/limiting to certain number->increases sales
◍ Marketing environment.
Answer: Six forces surrounding the customer and affect marketing mix
◍ Direct channel.
Answer: The manufacturer directly contacts consumers, no middle people.
Sold from own site.
◍ Advantages of direct channel.
Answer: Know when they buy/return, access to consumer data, closer
contact with end user to build relationships, possibly greater cost efficiency
in lr
◍ Disadvantages of direct channel.
