GCU MKT-315 FINAL COMPREHENSIVE STUDY GUIDE 2026
FULL QUESTIONS AND SOLUTIONS GRADED A+
● return on investment. Answer: the percentage of the total cost of purchasing an investment
and the profit made from selling that investment
● break-even analysis. Answer: a method of determining what sales volume must be reached
before total revenue equals total costs
● demand curve. Answer: As quantity increases, prices go down
● price elasticity of demand. Answer: a measure of the sensitivity of demand to changes in
price
● psychological pricing. Answer: pricing goods and services at price points that make the
product appear less expensive than it is
● Competitive pricing. Answer: Penetration Pricing Price Skimming Loss-Leaser Pricing
● pricing tactics. Answer: Short-term pricing responses to opportunities or threats from a
competitor using dollar or percent or percent off promotions in an attempt to clear
merchandise off the shelf
● supply chain. Answer: A series of intermediaries working together to produce, distribute,
and sell a product or service to consumers.
● Wholesaling. Answer: the function of facilitating movement of merchandise from
manufacturers to retailers.
● general merchandise wholesalers. Answer: Broad selection of products
● specialty merchandise wholesalers. Answer: limited selection, often due to special handling
needs (frozen foods)
● Retailing. Answer: the process that enables the sale of products and services to end-user
consumers, including business consumers and individuals at their homes.
● breadth. Answer: the different types of merchandise offered by the retailer.
● depth. Answer: the number of choices for each type of merchandise
FULL QUESTIONS AND SOLUTIONS GRADED A+
● return on investment. Answer: the percentage of the total cost of purchasing an investment
and the profit made from selling that investment
● break-even analysis. Answer: a method of determining what sales volume must be reached
before total revenue equals total costs
● demand curve. Answer: As quantity increases, prices go down
● price elasticity of demand. Answer: a measure of the sensitivity of demand to changes in
price
● psychological pricing. Answer: pricing goods and services at price points that make the
product appear less expensive than it is
● Competitive pricing. Answer: Penetration Pricing Price Skimming Loss-Leaser Pricing
● pricing tactics. Answer: Short-term pricing responses to opportunities or threats from a
competitor using dollar or percent or percent off promotions in an attempt to clear
merchandise off the shelf
● supply chain. Answer: A series of intermediaries working together to produce, distribute,
and sell a product or service to consumers.
● Wholesaling. Answer: the function of facilitating movement of merchandise from
manufacturers to retailers.
● general merchandise wholesalers. Answer: Broad selection of products
● specialty merchandise wholesalers. Answer: limited selection, often due to special handling
needs (frozen foods)
● Retailing. Answer: the process that enables the sale of products and services to end-user
consumers, including business consumers and individuals at their homes.
● breadth. Answer: the different types of merchandise offered by the retailer.
● depth. Answer: the number of choices for each type of merchandise
