QUESTION 1 A recent trend at the state level has greatly affected pricing inform

Question

QUESTION 1

A recent trend at the state level has greatly affected pricing information for consumers by:

A. Making all consumers register with their health plans to access health price information

B. Requiring health insurers to produce full cost data

C. Requiring medical groups, doctors, and hospitals to post their pricing information on their own individual web sites by 2014

D. Having state laws that require the state to post charges on a state web site.

QUESTION 2

When a product is in greater demand, the pricing tends to be:

A. High

B. Low

C. Variable

D. Relative to the competition.

QUESTION 3

Patents, or proprietary rights to products, as is common in the pharmaceutical industry tends to lead to companies being able to price:

A. High

B. Relative to marginal costs

C. Relative to fixed costs

D. Low

QUESTION 4

In pure monopoly markets, pricing is often:

A. Results in consumer dissatisfaction

B. Predatory in nature

C. Under government control

D. Extremely high

QUESTION 5

In oligopolistic market conditions with regards to pricing practices, there often tends to exist:

A. A price leader who dictates the direction of price levels

B. A price structure that is often unrelated to industry cost structure

C. Strong government control

D. A significant amount of consumer dissatisfaction with regard to pricing practices.

QUESTION 6

A major limitation to profit maximization as a pricing objective is:

A. Skimming strategies lead to regulatory reform

B. It is very difficult in health care to actually determine profits

C. Profit maximization results in difficult cross subsidization problems within a health care setting

D. It may encourage competitors to offer similar services at lower prices and capture market share, resulting in long term lower profits for the original organization

QUESTION 7

In industries that are mature, a common pricing objective would be:

A. Market Share

B. Profit maximization

C. Demand adjusted

D. Sales

QUESTION 8

Making a service more accessible is which value provided by an intermediary?

A. Time

B. Possession

C. Place

D. Form

QUESTION 9

Administered vertical marketing systems occur when one member of the channel is:

A. More powerful than the others

B. Has to coordinate the flow of multiple products or services

C. Has been involved in the coordination of both revenue and information systems for multiple channel members

D. All of the above are correct

QUESTION 10

When an advertiser pays for a message they have control. Which element is not a factor over which they have control?

A. The attention it is paid

B. How often it is said

C. Where it is placed

D. What is said

QUESTION 11

Short term inducements to buy a product or service are:

A. Advertisements

B. Inducements

C. Sales presentations

D. Sales promotions

QUESTION 12

When does advertising tend to work best?

A. When there is little chance for differentiation

B. When sales are declining

C. When most of the products are the same

D. When the service features are not observable

QUESTION 13

Personal selling is more often used in which product:

A. Where there is one primary decision maker

B. Where the product is technologically complex

C. Where there is little risk to the purchaser

D. Where the customers are geographically dispersed

QUESTION 14

Because the buyer often suffers from post purchase anxiety,

A. Customer recovery is the key in post contact

B. The more personal the contact with the buyer after the sale the better

C. Sending emails to the buyer with a survey helps in post-sales contact

D. The more messages sent to the buyer after sales the better

QUESTION 15

In the introductory stage of the product life cycle, the major promotional objective is to:

A. Encourage primary demand

B. Encourage selective demand

C. Gain publicity

C. Capture competitors customers

Explanation / Answer

Q1. Requiring medical groups, doctors, and hospitals to post their pricing information on their own individual web sites by 2014

Q2. High

Q3. High

Q4. Extremely high and also results in customer dissatisfaction

Q5. A price leader who dictates the direction of price levels

Q6. It may encourage competitors to offer similar services at lower prices and capture market share, resulting in long term lower profits for the original organization

Q7. Market Share

Q8. Possession

Q9. All of above

Q10 The attention it is paid

Q11.Advertisements

Q12.When most of the products are the same

Q13.Where the product is technologically complex

Q14. Customer recovery is the key in post contact

Q15.Gain publicity

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