When a change in price has very little or no effect on demand.
What is inelastic demand?
100
The way that some manufacturers quote prices to wholesalers and retailers.
What is mark-up?
100
Segmentation of the market based on where people lived.
What is geographic?
100
Do you need help with that?
What is service greeting?
100
What team does Lance Berkman play for?
Cardinals
200
Allows consumers to compare prices in relation to a standard unit or measure
What is unit pricing?
200
Allows customers to bargain for merchandise?
What is flexible price?
200
Statistics that describe a population in terms of personal characteristics such as age,gender,income,marital status,ethnicity, education,and occupation.
What is demographics?
200
Good afternoon, it's sunny today?
What is social greeting?
200
What team does Albert Pujols play for?
Angels
300
Occurs when competitors agree on certain price ranges.
What is price fixing?
300
All costs and expenses are calculated and then the desired profit is added to arrive at a price.
What is cost plus pricing?
300
Studies of consumers based on social and pyschological characteristics.
What is psychographics?
300
That dress have just arrived with a blares.
What is merchandise greeting?
300
What team has the best record in Major League Baseball?
Los Angeles Dodgers
400
When a change in price creates a change in demand.
What is elastic demand?
400
Involves the seller's offering reductions from usual price.
What is discount pricing?
400
The four basic marketing strategies, called the four p's: product,place,price,and promotion.
What is marketing mix?
400
Should present seven steps but only a certain amount at a time.
When presenting merchandise to consumer how many choices should you present at a time?
400
What teams made into third round of the Stanley Cup?
Los Angeles Kings, New York Rangers, New Jersey Devils, and Phoenix Coyotes.
500
profit/cost-determine the relative profitability of a product.
What is return on investment?
500
A product pricing strategy by which a firm charges the highest initial price that customers will pay. As the demand of the first customers is satisfied, the firm lowers the price to attract another, more price-sensitive segment.
What is price skimming?
500
Use of a single marketing plan to reach all customers.
What is mass marketing?
500
Tells the customer about the product and what advantages will the customers get from the product.
Why is it important to present features and benefits to consumers during the sale process.
500
What eight teams are in Conference round of the NBA Playoffs?
Los Angeles Clippers, Miami Heat, Los Angeles Lakers, Indiana Pacers, Boston Celtics, San Antonio Spurs, Philadelphia 76ers, and Oklahoma City Thunders.