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BUS 100 exam 3 review Latest Update Exam | Questions and
Verified Answers | 100% Correct | Grade A +
leverage - ANSWER the use of borrowed money to supplement
existing funds for purposes of investment
competition-based pricing - ANSWER setting prices based on
competitions prices
skimming pricing - ANSWER strategy that sets prices high due to
lack of competition
penetration pricing - ANSWER setting a low initial price on a
new product to appeal immediately to the mass market
everyday low price - ANSWER setting a low price for products
on a consistent basis
high-low pricing - ANSWER a pricing strategy that relies on the
promotion of sales
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psychological pricing - ANSWER pricing that considers the
psychology of prices and not simply the economics; the price is
used to say something about the product
total product offer - ANSWER everything that consumers
evaluate when deciding whether to buy something
product mix - ANSWER all products that an organization sells
product line - ANSWER a group of closely related product items
(ex- Coke, Diet Coke, Cherry Coke, Coke Zero)
brand - ANSWER a name, term, symbol, design, or combination
that identifies a business
trademark - ANSWER A brand that has exclusive legal protection
for both its brand name and its design
brand loyalty - ANSWER consistent preference for one brand
over all others
BUS 100 exam 3 review Latest Update Exam | Questions and
Verified Answers | 100% Correct | Grade A +
leverage - ANSWER the use of borrowed money to supplement
existing funds for purposes of investment
competition-based pricing - ANSWER setting prices based on
competitions prices
skimming pricing - ANSWER strategy that sets prices high due to
lack of competition
penetration pricing - ANSWER setting a low initial price on a
new product to appeal immediately to the mass market
everyday low price - ANSWER setting a low price for products
on a consistent basis
high-low pricing - ANSWER a pricing strategy that relies on the
promotion of sales
, 2|Page
psychological pricing - ANSWER pricing that considers the
psychology of prices and not simply the economics; the price is
used to say something about the product
total product offer - ANSWER everything that consumers
evaluate when deciding whether to buy something
product mix - ANSWER all products that an organization sells
product line - ANSWER a group of closely related product items
(ex- Coke, Diet Coke, Cherry Coke, Coke Zero)
brand - ANSWER a name, term, symbol, design, or combination
that identifies a business
trademark - ANSWER A brand that has exclusive legal protection
for both its brand name and its design
brand loyalty - ANSWER consistent preference for one brand
over all others
