Overall organizational objectives and more specific marketing objectives guide the development of pricing objectives, which in turn lead to the development and implementation of more specific pricing policies and procedures.

Match each item with the correct statement below. (2 pts ea) –

The amount of product that must be sold at a given price to generate sufficient revenue to cover total costs – both fixed and variable is the:

A product’s life cycle stage often determines the optimal communication vehicle to utilize. When a product reaches the growth stage, firms should increase advertising expenditures in order to persuade and remind consumers to make purchases.

Many firms attempt to promote stable prices by meeting competitors’ prices and competing for market share by focusing on the overall value.

An important advantage of personal selling is that it gives the customer the opportunity to try a product before making a purchase.

First-line sales managers need very strong sales skills, while sales managers at higher organizational levels need more _____ skills.

What would the sales price be for an item a retailer bought for $800 and applied 40% margin?

An organization’s total costs are typically divided into:

A cost that remains stable at any production level within a certain range is called a(n) _____ cost.