When setting prices, the marketing manager should consider the firm's demand curve, or else the price may not even cover the firm's total cost.
Answer the following statement true (T) or false (F)
True
Unless the firm's demand curve is considered, the marketing manager may set a price that doesn't even cover a firm's total cost.
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Chumley’s specialty wool sock business offers a generous credit policy to its customers and is hesitant to rush them to pay. Lately, he has experienced cash shortages even though sales are steady and costs are stable. Which of the following would you recommend he examine first?
a. His bank’s lock box policy b. His company’s economic order quantity c. Pledged accounts receivable d. The average collection period
Proud Pets, a producer of clothing and accessories for pets, has recently partnered with a regional chain of pet stores. Which of the following would Proud Pets be LEAST likely to expect from its new channel member?
A) promoting its products through advertising B) assembling and packaging its products for final sale C) distributing relevant market information D) identifying raw materials and other productive inputs E) taking a risk that items may not sell
Dolly Westin calls on the many gift shops in Savannah and sells a variety of unique decorative glass items, wind chimes, and picture frames produced by the companies that she represents. The store owners can order from Dolly rather than from the three different producers she represents. Apparently, Dolly is a
A. rack jobber. B. selling agent. C. manufacturers' agent. D. broker. E. drop-shipper.
Over time, the nature of business's relationship with its stakeholders often:
A. Evolves through a series of stages. B. Remains static. C. Becomes more hostile. D. None of these answers is correct.