At the end of summer, the Gloomin' Garden Inc. reduced the price on all of its plants, fertilizers, and potting soil by 50 percent in order to liquidate this inventory. What type of pricing strategy has been used by Gloomin' Garden Inc.?
a. Supply oriented pricing
b. Sales maximization
c. Target return on investment
d. Satisfactory profit
ANSWER: b
The type of pricing strategy used by Gloomin' Garden Inc. is sales maximization. A firm with the objective of maximizing sales ignores profits, competition, and the marketing environment as long as sales are rising. Sales maximization can also be effectively used on a temporary basis to sell excess inventory.
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Dexxon Inc is a petrochemical company. The manager of the company was being questioned by the Environmental Protection Agency (EPA) with regard to the factory releasing criteria pollutants into the atmosphere
He admitted to the EPA that the company had falsified its financial records and tampered with the monitoring equipment. He also stated that the company would take suitable measures to correct it. Based on this scenario, the EPA's Final Policy on Penalty Reductions encouraged Dexxon Inc to engage in ________. A) environmental policy making B) restricting pollution C) reducing emission charges D) environmental self-auditing
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Indicate whether the statement is true or false
Under what type of rate regulation are insurers required to obtain approval of rates before using them if the rate change exceeds a specified predetermined range?
A) flex-rating law B) prior-approval law C) file-and-use law D) use-and-file law
The uniform distribution defined over the interval from 25 to 40 has the probability density function
a. f(x) = 1/40 for all x b. f(x) = 5/8 for 25 ? x ? 40 and f(x) = 0 elsewhere c. f(x) = 1/25 for 0 ? x ? 25 and f(x) = 1/40 for 26 ? x ? 40 d. f(x) = 1/15 for 25 ? x ? 40 and f(x) = 0 elsewhere