Business 001 - Introduction to Business » Fall 2020 » Chapter 12 and 13 Quiz
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Question #1
The value package is the bundle of attributes, features and benefits taken together.
A.
TRUE
B.
FALSE
Question #2
What are the four stages of the product life cycle?
A.
Initiation, Growth, Maturity, and Decline
B.
Introduction, Gain, Maturity, and Decline
C.
Introduction, Growth, Maturity, and Decline
D.
Introduction, Growth, Maturity, and Deconstruction
Question #3
Revenue may be defined as:
A.
Unit cost multiplied by the number of units sold
B.
Selling price multiplied by the number of units sold
C.
Selling price multiplied by the number of customers
D.
Cost multiplied by the number of units sold
Question #4
In a high-priced environment, a manufacturer would expect to sell ______ units but have ________ revenue per unit.
A.
a lot, more
B.
less, more
C.
all, more
D.
more, less
Question #5
If your costs are $10 per unit, what would be your selling price with a 40% markup?
A.
$15
B.
$12
C.
$14
D.
$13
Question #6
If your costs are $141.26, what would be your selling price with a 26% markup?
A.
$177.99
B.
$167.99
C.
$175.68
D.
$170.48
Question #7
If you have a $30 selling price per unit, and you have a 20% markup, what are your costs per unit?
A.
$40
B.
$30
C.
$25
D.
$35
Question #8
If you have $140 cost basis, and you want a 40% margin, what does your selling price need to be? Hint: Selling Price = Cost + Margin
A.
$60.05
B.
$139.50
C.
$233.33
D.
$196.00
Question #9
If your sale price is $100, and your costs are $60, what is your margin percentage?
A.
30%
B.
20%
C.
50%
D.
40%
Question #10
___________________ are costs that change with the number of units produced. Examples include: raw materials, sales commissions, shipping.
A.
Extra
B.
Miscellaneous
C.
Variable
D.
Fixed
Question #11
_________________ are costs that must be paid irrespective of the number of units produced. Examples include: rent, insurance, and utilities.
A.
Miscellaneous
B.
Variable
C.
Extra
D.
Fixed
Question #12
In a low-priced environment, a manufacturer would expect to sell _____ units but have _____ revenue per unit.
A.
less, more
B.
all, full
C.
more, less
D.
certain, a lot
Question #13
Product placement is a practice in which manufacturers of goods or providers of a service gain exposure for their products by paying for them to be featured in movies, on television programs and on the Web.
A.
TRUE
B.
FALSE
Question #14
______________________ means reflecting on how the call went, what could have been done or said differently, and making mental notes of how things might go better in the future.
A.
Post-call analysis
B.
Second-call analysis
C.
Pre-call analysis
D.
First-call analysis
Question #15
Body language (even on the phone) is what percentage of the communicated message? ______%
A.
55
B.
25
C.
15
D.
95
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