APRSPtoSMM Flashcards

(33 cards)

1
Q

Advertising, Public Relations (PR), and Sales Promotion
__________:
Involves paid communication through media channels like TV, radio, and online platforms to promote products or services, typically aiming for short-term goals like boosting sales or awareness.

__________:
Focuses on cultivating a positive long-term image for the company by building positive relationships with the media and stakeholders, enhancing brand reputation. This can include press releases, interviews, or public events to shape public perception.

__________:
Leverages temporary incentives like discounts, giveaways, or contests to encourage immediate consumer action and increase sales. It’s often used to attract new customers or counter competitor promotions.

Choices:
a) Sales Promotion
b) Public Relations (PR)
c) Advertising

A

Answer Key
1 — c) Advertising
2 — b) Public Relations (PR)
3 — a) Sales Promotion

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2
Q

. Objectives of Advertising
__________:
It helps introduce a brand and its products to the public, ensuring the target audience becomes familiar with the brand and lays the foundation for long-term customer loyalty.

__________:
Effective advertising boosts sales by highlighting a product’s value and influencing consumer choices with targeted messages.

__________:
Advertising helps attract new customers by presenting compelling offers and demonstrating the benefits of products or services to encourage purchases.

__________:
In the digital age, advertising encourages interaction, especially on social media, allowing brands to directly engage with their audience to strengthen relationships.

__________:
Advertising generates interest and builds credibility for new products or services, showcasing their features to encourage consumer trial.

__________:
Through consistent messaging, advertising helps manage and enhance a brand’s image, fostering trust and influencing how the public perceives the brand.

Choices:
a) Brand Awareness
b) Increase Sales
c) Customer Acquisition
d) Engagement
e) Introduce a Product
f) Brand Management

A

Answer Key
1 — a) Brand Awareness
2 — b) Increase Sales
3 — c) Customer Acquisition
4 — d) Engagement
5 — e) Introduce a Product
6 — f) Brand Management

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3
Q

Types of Advertising
__________:
Found in newspapers, magazines, or flyers, print ads are great for reaching nearby customers, while niche brands may opt for specialized magazines to reach a specific audience.

__________:
TV ads are broadcasted during commercial breaks offering a broad reach and repeated exposure, which helps build brand awareness.

__________:
Companies sponsor podcasts or place ads within episodes. Hosts often read the ads, creating a more personal connection with the audience.

__________:
Platforms like Facebook and Instagram allow businesses to target specific audiences with both organic and paid promotions, often helping to expand brand visibility.

__________:
Direct mail includes brochures or flyers sent to targeted customers, such as a new store sending flyers with a discount to nearby residents.

__________:
Radio ads air during programming breaks and are ideal for reaching people during commutes or multitasking. Ads can be targeted to specific stations or time slots.

__________:
Mobile ads appear on smartphones and tablets, reaching consumers through apps, websites, or social media. These ads can be geo-targeted, reaching users based on their location.

Choices:
a) Mobile Advertising
b) Podcast Advertising
c) Direct Mail Advertising
d) Television Advertising
e) Radio Advertising
f) Print Advertising
g) Social Media Advertising

A

Answer Key
1 — f) Print Advertising
2 — d) Television Advertising
3 — b) Podcast Advertising
4 — g) Social Media Advertising
5 — c) Direct Mail Advertising
6 — e) Radio Advertising
7 — a) Mobile Advertising

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4
Q

Types of Advertising (continued)
__________:
Also known as pay-per-click (PPC), these ads appear in search engine results when users type in specific keywords. Companies only pay when a user clicks on the ad.

__________:
Visual ads, like banners or pop-ups on websites, aim to catch attention and direct users to the brand’s site. Retargeting ads remind visitors about the brand they’ve seen.

__________:
This creative, low-cost advertising aims to surprise and engage, like placing ads in unexpected locations or using public spaces in inventive ways.

__________:
PSAs are designed to inform or educate the public about important social, health, or safety issues. These are often aired for free as part of media outlets as part of their community service.

__________:
Native ads blend into a website or app’s content. They look like regular posts or articles, offering a smoother user experience.

__________:
Billboards, bus ads, and other outdoor placements capture attention in public spaces. With limited space and time, these ads use bold visuals and short, and concise messaging.

__________:
Brands pay to have their products featured in movies, TV shows, or online content. The product is subtly integrated into the scene for natural brand exposure.

Choices:
a) Guerrilla Advertising
b) Product Placement Advertising
c) Outdoor Advertising
d) Public Service Advertising
e) Native Advertising
f) Paid Search Advertising
g) Display Advertising

A

Answer Key
8 — f) Paid Search Advertising
9 — g) Display Advertising
10 — a) Guerrilla Advertising
11 — d) Public Service Advertising
12 — e) Native Advertising
13 — c) Outdoor Advertising
14 — b) Product Placement Advertising

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5
Q

Benefits of Advertising
__________:
Advertising drives purchases by highlighting the value and appeal of your product, persuading customers to make purchases and ultimately boosting sales.

__________:
Ads quickly communicate essential details about your product, like features, pricing, and availability, helping customers make informed decisions.

__________:
Advertising creates awareness for new products, generating interest and encouraging people to try them.

__________:
By watching competitors’ ad campaigns, you can stay updated on their new releases or promotions to adjust your own strategies.

__________:
Regular advertising helps keep your brand top-of-mind, encouraging repeat purchases and fostering loyalty.

__________:
Successful advertising campaigns can boost morale among employees, creating pride in the company’s achievements and visibility.

__________:
Advertising helps create a unique brand identity through visual elements like logos, colors, and taglines, making it memorable and unique in the market.

__________:
Repeated exposure through ads fosters trust and familiarity, making potential customers feel more comfortable choosing your brand.

__________:
Advertising enables you to focus on the right audience by placing ads where your target audience is most likely to engage.

__________:
Ads give you the chance to share your brand’s core values with a wider audience, strengthening customer loyalty and emotional connections.

Choices:
a) Introduces New Products
b) Communicates Company Values
c) Boosts Sales
d) Retains Customers
e) Improves Employee Morale
f) Differentiates Your Brand
g) Informs Customers
h) Targets Specific Audiences
i) Builds Customer Trust
j) Keep an Eye on Competitors

A

Answer Key
01 — c) Boosts Sales
02 — g) Informs Customers
03 — a) Introduces New Products
04 — j) Keep an Eye on Competitors
05 — d) Retains Customers
06 — e) Improves Employee Morale
07 — f) Differentiates Your Brand
08 — i) Builds Customer Trust
09 — h) Targets Specific Audiences
10 — b) Communicates Company Values

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6
Q

____________ is about shaping how an organization communicates with its audiences to build and uphold a strong, positive reputation. Unlike advertising, which aims
at direct promotion, PR focuses on building long-term relationships and maintaining credibility.

A

Public Relations (PR)

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7
Q

Key Objectives of Public Relations
__________
PR aims to boost public recognition of an organization, its products, and values, building a solid foundation for trust and customer loyalty.

__________
PR focuses on protecting and enhancing a brand’s reputation by addressing negative situations and highlighting positive aspects that align with the organization’s mission.

__________
During crises, PR ensures effective communication to manage the situation, control the narrative, and prevent reputational damage.

__________
PR builds and maintains strong relationships with key audiences like customers, employees, and investors, ensuring the organization’s goals align with stakeholder interests.

__________
PR supports causes or policies that reflect the organization’s values, reinforcing its identity and public connection, especially around social responsibility.

__________
PR professionals cultivate relationships with journalists to secure accurate, favorable media coverage, ensuring broad message exposure.

__________
PR works to influence public perception on key issues, positioning the organization as a leader through strategic communication.

__________
PR also aims to drive specific actions, such as purchasing a product or supporting a cause, directly influencing behaviors that support organizational objectives.

Choices (Jumbled):

Media Relations

Reputation Management

Behavioral Change

Brand Awareness

Issue Advocacy

Shaping Public Opinion

Stakeholder Engagement

Crisis Communication

A

Answer Key:
01 — Brand Awareness
02 — Reputation Management
03 — Crisis Communication
04 — Stakeholder Engagement
05 — Issue Advocacy
06 — Media Relations
07 — Shaping Public Opinion
08 — Behavioral Change

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8
Q

Key PR Tools
__________
Platforms like PR Newswire and Business Wire help companies distribute press releases to the right journalists and media outlets, ensuring their news reaches the right audience.

__________
Databases such as Cision and Muck Rack provide access to comprehensive lists of journalists and influencers, enabling targeted outreach and increasing the chances of getting media coverage.

__________
Hosting events, such as press conferences, product launches, or sponsorships, helps draw attention, connect with media, and engage the public, boosting visibility and building relationships.

__________
Tools like Brandwatch and Brand24 track online conversations about the brand. It helps PR teams gauge public sentiment, address concerns, and engage with the audience.

Choices (Jumbled):

Publicity Events

Social Media PR

Media Outreach

Press Releases

A

Answer Key:
01 — Press Releases
02 — Media Outreach
03 — Publicity Events
04 — Social Media PR

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9
Q

Benefits of Public Relations (PR)
__________
PR boosts visibility by securing media coverage, expanding brand exposure, and generating public interest.

__________
PR shapes and maintains a favorable image, reinforcing the brand’s reputation and market status.

__________
Third-party endorsements and media coverage help build trust, as PR is seen as more reliable than ads.

__________
Strong PR increases credibility, attracting new leads and investors interested in supporting the brand.

__________
PR focuses on maintaining a positive brand image over time, helping you maintain credibility even during challenging times.

Choices (Jumbled):

Lead Generation & Investor Attraction

Trust and Credibility

Positive Brand Image

Long-Term Reputation Management

Increased Brand Visibility

A

Answer Key:
01 — Increased Brand Visibility
02 — Positive Brand Image
03 — Trust and Credibility
04 — Lead Generation & Investor Attraction
05 — Long-Term Reputation Management

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10
Q

_______________ is a powerful marketing tool designed that uses special offers or incentives to quickly grab attention, boost sales, and build customer loyalty. The goal is to
boost purchases, draw in new customers, and raise brand awareness.

A

Sales promotion

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11
Q

Objectives of Sales Promotion
__________
Sales promotions drive quick sales by offering time-limited discounts or special deals. These discounts encourage customers to act quickly and make a purchase.

__________
Promotions help businesses capture new customers by offering special deals, making products more appealing and accessible to potential buyers.

__________
By offering personalized offers or rewards to existing customers, encourage repeat purchases and strengthen customer loyalty.

__________
Promotions are an effective way to move excess or outdated stock, often through discounted offers or product bundling.

__________
Promotions help generate buzz for new products and provide a competitive advantage, making a brand more attractive in a crowded market.

Choices (Jumbled):

Clear Excess Inventory

Drive Immediate Sales & Revenue

Enhance Customer Loyalty & Reengagement

Support Product Launches & Competitive Advantage

Attract New Customers & Generate Leads

Answer Key:
01 — Drive Immediate Sales & Revenue
02 — Attract New Customers & Generate Leads
03 — Enhance Customer Loyalty & Reengagement
04 — Clear Excess Inventory
05 — Support Product Launches & Competitive Advantage

A

Answer Key:
01 — Drive Immediate Sales & Revenue
02 — Attract New Customers & Generate Leads
03 — Enhance Customer Loyalty & Reengagement
04 — Clear Excess Inventory
05 — Support Product Launches & Competitive Advantage

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12
Q

Types of Sales Promotion
__________
Get a free or discounted product when purchasing another.

__________
Limited-time offers with substantial discounts creating urgency.

__________
Reward points for repeat purchases, boosting customer retention.

__________
Incentives for customers who refer new buyers.

__________
Offering free products, often as a reward for customer engagement or with a purchase.

__________
Small free portions of a product to encourage customers to try before they buy.

__________
Offering products or services for a limited period to let customers try before committing.

__________
Discounted packages of related products to encourage bulk buying.

__________
Offering no-cost delivery to encourage online sales.

__________
Discounted upgrades or complementary products after an initial purchase.

Choices (Jumbled):

BOGO (Buy One, Get One)

Free Shipping

Flash Sales

Referral Discounts

Free Samples

Upsell Promotions

Loyalty Programs

Product Bundles

Giveaways

Free Trials

Answer Key:
01 — BOGO (Buy One, Get One)
02 — Flash Sales
03 — Loyalty Programs
04 — Referral Discounts
05 — Giveaways
06 — Free Samples
07 — Free Trials
08 — Product Bundles
09 — Free Shipping
10 — Upsell Promotions

A

Answer Key:
01 — BOGO (Buy One, Get One)
02 — Flash Sales
03 — Loyalty Programs
04 — Referral Discounts
05 — Giveaways
06 — Free Samples
07 — Free Trials
08 — Product Bundles
09 — Free Shipping
10 — Upsell Promotions

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13
Q

Benefits of Sales Promotion
__________
Quickly boost sales, clear out excess inventory, and incentivize additional purchases through deals or bundles.

__________
Build loyalty by rewarding customers and encouraging repeat business, while strengthening relationships with both customers and retailers.

__________
Increase brand visibility, introduce new products, and create buzz, supporting long-term expansion.

__________
Create a competitive edge, protect profit margins, and offer insights into customer preferences for better marketing strategies.

Choices (Jumbled):

Brand Growth

Sales & Revenue

Business Efficiency

Customer Engagement

A

Answer Key:
01 — Sales & Revenue
02 — Customer Engagement
03 — Brand Growth
04 — Business Efficiency

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14
Q

________ involves using online platforms and digital tools to promote products, engage
with customers, and increase brand awareness. Unlike traditional marketing, which relies on
methods like TV and print ads, digital marketing takes advantage of the internet, such as social
media, search engines, email, and mobile apps, to reach targeted audiences.

A

Digital marketing

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15
Q

Key Channels in Digital Marketing – Fill in the Blanks
__________ improves your website’s visibility on search engines. It focuses on technical aspects, content quality, and gaining backlinks.

__________ allows businesses to engage with customers through organic posts and paid ads on platforms like Facebook, Instagram, and Twitter.

__________ is a powerful tool for nurturing leads and maintaining customer relationships through campaigns like newsletters and follow-ups.

__________ involves creating valuable materials like blogs, videos, or case studies to attract and educate your audience.

__________ ads appear when users search for specific keywords. You only pay when someone clicks, making it cost-efficient and highly targeted.

__________ is a performance-based approach where partners promote your brand in exchange for commissions on resulting sales or leads.

__________ uses customer experiences or influencer endorsements to build trust. Referral programs reward those who recommend your brand.

Jumbled Choices:
Word of Mouth & Referral Marketing

Email Marketing

Affiliate Marketing

Social Media Marketing

Paid Search (PPC)

Content Marketing

Search Engine Optimization (SEO)

A

Answer Key:
01 — Search Engine Optimization (SEO)
02 — Social Media Marketing
03 — Email Marketing
04 — Content Marketing
05 — Paid Search (PPC)
06 — Affiliate Marketing
07 — Word of Mouth & Referral Marketing

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16
Q

___________ follows a traditional “push” approach,
where businesses send their messages to a wide
audience, regardless of whether they’re actively interested.
This includes methods like TV and radio ads, print media,
direct mail, and digital display ads like banners and popups.

____________ takes a customer-focused, “pull”
approach, where businesses attract potential customers
by offering valuable content and experiences. Instead of
interrupting the user with ads, it emphasizes creating and
sharing helpful resources like blog posts, videos, social
media updates, and SEO-friendly web pages that naturally
draw the audience in. The goal is to build trust and guide
leads through their buyer journey over time.

Outbound marketing
Inbound marketing

A

Outbound marketing
Inbound marketing

17
Q

Digital Marketing Metrics & Analytics – Fill in the Blanks
__________ tracks the origin of website visitors, including direct, referral, and search sources, helping identify which channels perform best.

A __________ tracks how many visitors complete desired actions like purchases or sign-ups, showing how effective a campaign is at generating leads or sales.

__________ is calculated by dividing the number of clicks by total impressions, indicating how engaging and action-driven your content is.

__________ measures the projected revenue from a single customer throughout their relationship with your brand.

__________ measures how much it costs to generate a lead, helping marketers assess the efficiency of their lead generation efforts.

Choices (jumbled):

CTR

Customer Lifetime Value

Cost Per Lead

Website Traffic

Conversion Metric

A

Answer Key:
01 — Website Traffic
02 — Conversion Metric
03 — CTR
04 — Customer Lifetime Value
05 — Cost Per Lead

18
Q

___________ is the use of platforms like Facebook, Instagram, Twitter, and
LinkedIn to connect with audiences, promote a brand, and drive business growth. By sharing
compelling content, interacting with users, and using targeted advertising, businesses can boost
brand awareness, increase website traffic, and ultimately increase sales. These platforms offer an
effective way to reach customers directly and in real time, making them essential for modern
marketing strategies.

A

Social media marketing (SMM)

19
Q

The Future of Digital Marketing – Fill in the Blanks

__________ will transform marketing by enhancing customer data analysis, content customization, automation, and predictive decision-making.

__________ will become more important as devices like Alexa and Google Assistant become widespread, requiring content tailored to conversational queries.

__________ such as polls, quizzes, and interactive videos will boost engagement by encouraging audience participation.

__________ and __________ will offer immersive experiences, like virtual product trials and interactive demos.

Choices (Jumbled):

Voice Search Optimization

Virtual Reality

Augmented Reality

Interactive Content

Artificial Intelligence (AI) Integration

A

Answer Key:

Artificial Intelligence (AI) Integration

Voice Search Optimization

Interactive Content

Augmented Reality, Virtual Reality

20
Q

Key Social Media Platforms for Marketing – Fill in the Blanks

__________ is the largest social media platform, with over 3 billion users, offering both organic engagement and paid advertising options.

__________ is a popular video-sharing platform that allows brands to upload videos, run ads, and connect with its 2.53 billion users.

__________ focuses on visual content, making it ideal for influencer collaborations and brand storytelling.

__________ is a professional networking site used for B2B marketing and thought leadership among its 900 million users.

__________ is a microblogging site used for real-time conversations, trending topics, and brief updates.

__________ is a short-form video platform known for its music-backed, highly engaging content.

Choices (Jumbled):

Facebook

TikTok

X

YouTube

LinkedIn

Instagram

A

Answer Key:

Facebook

YouTube

Instagram

LinkedIn

X

TikTok

21
Q

Strategies for Effective Social Media Marketing – Fill in the Blanks

__________ involves creating original content and sharing curated material from trusted sources to provide valuable, engaging posts to your audience.

__________ uses targeted, paid advertisements on platforms to increase visibility, conversions, and re-engagement with previous visitors.

__________ is a collaboration with online personalities who have a loyal following to promote products in an authentic, trusted way.

__________ focuses on building relationships by interacting with followers, addressing concerns, and maintaining an active online presence.

__________ helps assess campaign success by monitoring engagement, click-throughs, conversions, and ROI through platform analytics tools.

Choices (Jumbled):

Influencer Marketing

Analytics and Performance Tracking

Paid Advertising and Promotion

Community Engagement and Customer Service

Content Creation and Curation

A

Answer Key:

Content Creation and Curation

Paid Advertising and Promotion

Influencer Marketing

Community Engagement and Customer Service

Analytics and Performance Tracking

22
Q

Measuring Social Media Marketing Success – Fill in the Blanks

__________ tracks how actively users interact with your posts through likes, comments, and shares, indicating how engaging your content is.

__________ reflects how often your brand is mentioned by users or influencers across social media platforms.

__________ shows the total number of unique users who have seen your content, giving insight into your audience size.

__________ counts how many times your content is displayed, even if it’s viewed multiple times by the same user.

__________ is the percentage of viewers who click a link in your post, helping you evaluate your call-to-action effectiveness.

__________ measures the percentage of users who complete a desired action after clicking a link, such as purchasing or signing up.

__________ evaluates the revenue earned versus the cost spent on social media efforts, determining financial effectiveness.

Choices (Jumbled):

Return on Investment (ROI)

Mentions

Click-Through Rate (CTR)

Engagement Rate

Impressions

Reach

Conversion Rate

A

Answer Key:

Engagement Rate

Mentions

Reach

Impressions

Click-Through Rate (CTR)

Conversion Rate

Return on Investment (ROI)

23
Q

Challenges of Social Media Marketing – Fill in the Blanks

__________ is about finding the right message that resonates with your audience while keeping up with trends and platform algorithms.

__________ involves constantly coming up with innovative and unique post ideas despite the overwhelming amount of content already online.

__________ means ensuring your content not only engages but also leads to real business outcomes like form submissions or inquiries.

__________ challenges marketers to keep content visible and effective despite ongoing changes by platforms in how they display posts.

__________ ensures that content is delivered to the right people, avoiding wasted efforts on audiences who are not potential customers.

__________ requires identifying which social shifts and viral formats are worth adopting, without losing your brand’s voice or message.

Choices (Jumbled):

Driving Lead Generation

Connecting with the Right Audience

Adapting to Trends

Staying Ahead of Algorithm Changes

Creating Compelling Content

Generating New Content Ideas

A

Answer Key:

Creating Compelling Content

Generating New Content Ideas

Driving Lead Generation

Staying Ahead of Algorithm Changes

Connecting with the Right Audience

Adapting to Trends

24
Q

______ is a price tactic that uses odd-numbered prices to connote bargains and even-numbered prices to imply quality.

______ occurs when demand changes rapidly, often hourly, and prices increase or decrease in response.

______ is the practice of marking up prices by 100 percent or doubling the cost.

______ refers to setting prices to reflect what the customer perceives as good value compared to other options.

______ is when a firm charges a high introductory price, often with heavy promotion.

Choices (jumbled):

Price skimming

Surge pricing

Keystoning

Value-based pricing

Odd-even pricing

A

Answer Key:

Odd-even pricing

Surge pricing

Keystoning

Value-based pricing

Price skimming

25
______ is a basic, long-term pricing framework that guides initial pricing and price changes. ______ is a deduction from the list price for a single, large order rather than total purchases over time. ______ is a pricing policy that starts with a low price to reach the mass market. ______ is a private electronic network linking a company with its suppliers and customers. ______ is the total income from sales, calculated as price multiplied by quantity sold. Choices (jumbled): Revenue Extranet Noncumulative quantity discount Price strategy Penetration pricing
Answer Key: Price strategy Noncumulative quantity discount Penetration pricing Extranet Revenue
26
______ is a cost that stays the same regardless of output changes. ______ involves selling two or more products together at a special price. ______ is the amount given up in exchange for a product or service. ______ is the total amount of money earned before expenses are deducted. ______ is a payment to retailers for promoting a manufacturer’s product. Choices (jumbled): Promotional allowance Price Fixed cost Revenue Price bundling
Answer Key: Fixed cost Price bundling Price Revenue Promotional allowance
27
______ is a pricing tactic in which the seller pays freight costs and bills a flat charge to all buyers. ______ is used to determine the sales volume needed to cover total costs. ______ is a tactic where two separate amounts are charged to consume a single product. ______ is a discount offered for purchasing out-of-season merchandise. ______ refers to how much a consumer’s demand changes with price fluctuations. Choices (jumbled): Two-part pricing Uniform delivered pricing Elastic demand Seasonal discount Break-even analysis
Answer Key: Uniform delivered pricing Break-even analysis Two-part pricing Seasonal discount Elastic demand
28
______ is the percentage of a company’s sales relative to the entire industry. ______ means charging a very low price to eliminate competitors from the market. ______ is the practice of offering items in a product line at different price points. ______ is the price level a company expects to sell its products under normal conditions. ______ is a pricing tactic that allows different customers to pay different prices for the same product in equal quantities. Choices (jumbled): Base price Market share Predatory pricing Flexible pricing Price lining
Answer Key: Market share Predatory pricing Price lining Base price Flexible pricing
29
__________ is a pricing policy in which a product is introduced at a high price, often coupled with heavy promotion. A __________ is a cash refund given for the purchase of a product during a specific time period. __________ involves marketing two or more products in a single package for a special price. A __________ is a deduction from the list price that applies to a single order rather than to the total volume of purchases. __________ refers to setting the price based on what the customer perceives as a good value compared to alternatives. Choices: Price skimming, Noncumulative quantity discount, Rebate, Value-based pricing, Price bundling
Answer Key – Set 6: Price skimming Rebate Price bundling Noncumulative quantity discount Value-based pricing
30
__________ is a pricing strategy where all goods and services are offered at the same price, or perhaps two or three prices. __________ is the practice of setting specific price points for different items within a product line. A __________ is a price objective that maintains existing prices or matches competitor pricing. __________ refers to laws that prohibit selling products below cost. __________ is a tactic where two separate amounts are charged to consume a single good or service. Choices: Single-price tactic, Price lining, Status quo pricing, Two-part pricing, Unfair trade practice acts
Answer Key – Set 7: Single-price tactic Price lining Status quo pricing Unfair trade practice acts Two-part pricing
30
__________ refers to net profit after taxes divided by total assets. __________ is the quantity of a product that will be offered to the market at various prices for a specific time. __________ is revenue minus expenses. __________ refers to the price charged to customers multiplied by the number of units sold. __________ is a cost that changes depending on output level. Choices: Return on Investment (ROI), Revenue, Profit, Supply, Variable cost
Answer Key – Set 8: Return on Investment (ROI) Supply Profit Revenue Variable cost
31
__________ is a cost that does not vary even if output increases or decreases. __________ is the ability to adjust prices in real time using software. __________ is a deduction from list price offered to buyers purchasing in bulk or above a minimum value. __________ is the practice of increasing prices in response to rapid increases in demand. __________ divides the market into regions and charges a flat freight rate per zone. Choices: Variable cost, Zone pricing, Fixed cost, Dynamic pricing, Quantity discount, Surge pricing
Answer Key – Set 9: Fixed cost Dynamic pricing Quantity discount Surge pricing Zone pricing
32
__________ refers to a private network connecting a company to its suppliers and customers. __________ is a payment to dealers to promote a manufacturer’s products. __________ is an agreement between firms on the price they will charge. __________ is the amount expected to be paid in exchange for a good or service. __________ refers to a pricing tactic where a seller absorbs all or part of the freight charges. Choices: Freight absorption pricing, Promotional allowance (trade allowance), Price, Price fixing, Extranet
Answer Key – Set 10: Extranet Promotional allowance (trade allowance) Price fixing Price Freight absorption pricing