You own a hair salon in a college town. Because there is competition for customers, the salons have been in a price war. You invite all salon owners to your home. They decide that the price war is hurting everyone and agree to charge standard rates for hairstyling. This arrangement is:
a. legal because it was a voluntary arrangement
b. legal because the price of styling hair is too low to be subject to the antitrust laws c. legal because it does not hurt competition
d. legal under the rule of reason because the alternative, fewer salons, would mean less competition e. none of the other choices
e
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Which of the following pricing objectives describes a situation where the marketer attempts to price the product at the market average or match a particular brand's price?
A) penetration pricing B) pricing for stability C) return on investment pricing D) competitive pricing
An ad for a new convection oven shows a busy professional woman using the convection oven to cook dinner for her family. Which of the following message execution styles is illustrated in this example?
A) testimonial evidence B) slice of life C) fantasy D) scientific evidence E) mood or image
A ________ is a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit
A) warehouse club B) franchise C) shopping center D) supermarket E) hypermarket
For each of the following expenditures, indicate whether the amount is debited to an asset account or to an expense account
Transaction Account Debited Paint job Major engine overhaul Tire replacement Asset modified for new use Routine maintenance that keeps a machine in normal operating condition Replacement of a roof What will be an ideal response