GCU MKT-315 Final Exam Questions Solved Correctly Latest Version 2025-2026
Profit Equation - Answers total revenue - total cost
Pricing Strategies - Answers The overall strategic approach to pricing over the medium-to-long term.
skimming, penetration and loss leaders
Price Skimming Strategy - Answers 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 - Answers offer a low price to increase sales and market share. Price may be
increased later on.
Wholesalers - Answers Intermediaries who help to move goods between producers and retailers by
buying goods from producers and selling them to retailers
Retailers - Answers businesses that sell directly to final consumers
Intermediary Functions - Answers transactional, logistical, facilitating
Transactional Functions - Answers buying, selling, risk taking
Logistical Functions - Answers assorting, storing, sorting, transporting
Facilitating Functions - Answers make the purchase process easier for customers and manufacturers
Managing Distribution Channels - Answers 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 - Answers Shopping from a computer or phone on websites that offer a wide variety of
products or services
Non-Store Retailing - Answers Transactions are accomplished in a wide variety of formats including
catalogs, vending machines, door-to-door sales, home party sales, and the fast-growing Internet
marketplace.
Limited-Service Retailers - Answers Have fewer staff members who circulate throughout the store and
are available if customers seek them out.
Full-Service Retailer - Answers Provide trained staff to assist customers in making selections and help
with customized services.
Self-Service Retailers - Answers Require customers to shop independent of store staff.
Competition Pricing Strategy - Answers Setting prices nearly equal to competitors. There are only slight
differences from competitors' prices.
Profit Equation - Answers total revenue - total cost
Pricing Strategies - Answers The overall strategic approach to pricing over the medium-to-long term.
skimming, penetration and loss leaders
Price Skimming Strategy - Answers 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 - Answers offer a low price to increase sales and market share. Price may be
increased later on.
Wholesalers - Answers Intermediaries who help to move goods between producers and retailers by
buying goods from producers and selling them to retailers
Retailers - Answers businesses that sell directly to final consumers
Intermediary Functions - Answers transactional, logistical, facilitating
Transactional Functions - Answers buying, selling, risk taking
Logistical Functions - Answers assorting, storing, sorting, transporting
Facilitating Functions - Answers make the purchase process easier for customers and manufacturers
Managing Distribution Channels - Answers 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 - Answers Shopping from a computer or phone on websites that offer a wide variety of
products or services
Non-Store Retailing - Answers Transactions are accomplished in a wide variety of formats including
catalogs, vending machines, door-to-door sales, home party sales, and the fast-growing Internet
marketplace.
Limited-Service Retailers - Answers Have fewer staff members who circulate throughout the store and
are available if customers seek them out.
Full-Service Retailer - Answers Provide trained staff to assist customers in making selections and help
with customized services.
Self-Service Retailers - Answers Require customers to shop independent of store staff.
Competition Pricing Strategy - Answers Setting prices nearly equal to competitors. There are only slight
differences from competitors' prices.
