GCU MKT-315 FINAL PRACTICE EXAMINATION 2026
QUESTIONS WITH ANSWERS GRADED A+
● Profit Equation. Answer: total revenue - total cost
● Pricing Strategies. Answer: skimming, penetration and loss leaders
● Price Skimming Strategy. Answer: 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. Answer: The organization will offer a low price to increase sales
and market share. Price may be increased later on.
● Wholesalers. Answer: Intermediaries who help to move goods between producers and
retailers by buying goods from producers and selling them to retailers
● Retailers. Answer: businesses that sell directly to final consumers
● Intermediary Functions. Answer: transactional, logistical, facilitating
● Transactional Functions. Answer: buying, selling, risk taking
● Logistical Functions. Answer: assorting, storing, sorting, transporting
● Facilitating Functions. Answer: make the purchase process easier for customers and
manufacturers
● Managing Distribution Channels. Answer: 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. Answer: Shopping from a computer or phone on websites that offer a wide
variety of products or services.
● Non-Store Retailing. Answer: 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.
QUESTIONS WITH ANSWERS GRADED A+
● Profit Equation. Answer: total revenue - total cost
● Pricing Strategies. Answer: skimming, penetration and loss leaders
● Price Skimming Strategy. Answer: 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. Answer: The organization will offer a low price to increase sales
and market share. Price may be increased later on.
● Wholesalers. Answer: Intermediaries who help to move goods between producers and
retailers by buying goods from producers and selling them to retailers
● Retailers. Answer: businesses that sell directly to final consumers
● Intermediary Functions. Answer: transactional, logistical, facilitating
● Transactional Functions. Answer: buying, selling, risk taking
● Logistical Functions. Answer: assorting, storing, sorting, transporting
● Facilitating Functions. Answer: make the purchase process easier for customers and
manufacturers
● Managing Distribution Channels. Answer: 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. Answer: Shopping from a computer or phone on websites that offer a wide
variety of products or services.
● Non-Store Retailing. Answer: 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.
