Which of the following statements about the price-setting process is most accurate?
A. Demand-oriented pricing approaches rely heavily on competitors' prices.
B. Skimming pricing is a competition-oriented pricing strategy.
C. Penetration pricing is the best pricing strategy for companies trying to meet the goals of a profit-oriented pricing approach.
D. When selecting a strategy for setting an initial price, it does not matter which one you use as long as you stick with it.
E. Sometimes pricing strategies overlap, and a seasoned marketer will consider several strategies when choosing an approximate price level.
Answer: E
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Which of the following is not a reason why an auditor obtains an understanding of internal controls?
a. Understanding the entity's internal control is a requirement of GAAS. b. The auditor must use the information to assess the risk of material misstatements arising from the lack of internal control. c. It is the primary basis for the audit report. d. It assists the auditor in designing the nature, timing and extent of further audit procedures.
Which company policy regarding marketing research would be used by a firm to make sure that problems were spotted early?
A) A policy of not conducting marketing research B) A policy of conducting different types of studies on a continuous basis at specified intervals C) A policy regarding the use of certain types of studies being used whenever a particular situation occurs D) A policy of marketing research on an as needed basis E) none of the above
Effective group members attempt to talk in ________ terms about directly observable behaviors, people, places, and events.
Fill in the blank(s) with the appropriate word(s).
The first step in the capital budgeting process is ________.
A) review and analysis B) implementation C) decision making D) proposal generation