A couple living in the United States travels to China and buys huge amounts of designer purses for a much lower price than is available at home. They import the purses back into the States where they sell them for less than the normal market price. The purses are considered to be
A. smuggled goods.
B. contraband
C. black market goods.
D. gray market goods.
E. illegal imports.
Answer: D
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Which type of pricing involves setting one price for a set of products?
A. odd-even pricing B. price lining C. price leading D. bait pricing E. product bundle pricing
______ means that anyone can be dismissed at any time for any reason at all, or for no reason.
A. Employment at will B. Capricious dismissal C. Quid pro quo D. Nonrational dismissal E. Fair termination
Three different objectives relate to a firm's profit, which have different implications for pricing strategy. The three profit-oriented objectives include managing for long-run profits, maximizing current profit objectives, and ________.
A. accumulating profits B. redistributing profits C. reinvesting profits D. maximizing gross margin E. achieving a target return
Effective marketing benefits society because it
A. reduces competition, making the playing field more even. B. allows companies to charge whatever price they want, regardless of product quality. C. improves the quality of products and services regardless of the cost. D. makes countries more competitive in world markets while simultaneously reducing competition in their home markets. E. enhances competition, which improves the quality of products and services and lowers prices.