GCU MKT-315 Final Exam Questions With Correct
Solutions
Profit Equation Right Ans - total revenue - total cost
Pricing Strategies Right Ans - skimming, penetration and loss leaders
Price Skimming Strategy Right Ans - The organization starts out with a
high price and then slowly lowers it to capture more of the market. The
objective is to skimming profits one layer at a time.
Price Penetration Strategy Right Ans - The organization will offer a low
price to increase sales and market share. Price may be increased later on.
Wholesalers Right Ans - Intermediaries who help to move goods
between producers and retailers by buying goods from producers and
selling them to retailers
Retailers Right Ans - businesses that sell directly to final consumers
Intermediary Functions Right Ans - transactional, logistical, facilitating
Transactional Functions Right Ans - buying, selling, risk taking
Logistical Functions Right Ans - assorting, storing, sorting, transporting
Facilitating Functions Right Ans - make the purchase process easier for
customers and manufacturers
Managing Distribution Channels Right Ans - Have to manage channels to
make sure there's no conflict and to make sure distributors, wholesalers,
agents and retailers to all work with a company to get their proctors into
the outlets that consumers can purchase them from.
Online Retailing Right Ans - Shopping from a computer or phone on
websites that offer a wide variety of products or services.
Solutions
Profit Equation Right Ans - total revenue - total cost
Pricing Strategies Right Ans - skimming, penetration and loss leaders
Price Skimming Strategy Right Ans - The organization starts out with a
high price and then slowly lowers it to capture more of the market. The
objective is to skimming profits one layer at a time.
Price Penetration Strategy Right Ans - The organization will offer a low
price to increase sales and market share. Price may be increased later on.
Wholesalers Right Ans - Intermediaries who help to move goods
between producers and retailers by buying goods from producers and
selling them to retailers
Retailers Right Ans - businesses that sell directly to final consumers
Intermediary Functions Right Ans - transactional, logistical, facilitating
Transactional Functions Right Ans - buying, selling, risk taking
Logistical Functions Right Ans - assorting, storing, sorting, transporting
Facilitating Functions Right Ans - make the purchase process easier for
customers and manufacturers
Managing Distribution Channels Right Ans - Have to manage channels to
make sure there's no conflict and to make sure distributors, wholesalers,
agents and retailers to all work with a company to get their proctors into
the outlets that consumers can purchase them from.
Online Retailing Right Ans - Shopping from a computer or phone on
websites that offer a wide variety of products or services.
