QUESTION 11

1. What does it mean for demand to be "unitary?"
2. prices go up or down but revenues remain about the same
3. prices remain the same but revenue goes up and down
4. prices and revenue change unpredictably
5. there is never a change in price or revenue

QUESTION 12

1. If your fixed costs (including marketing, advertising, R&D, depreciation, etc.) are high relative to variable costs (which include labor or unit components), the strategic objective is to:
2. maximize per unit margins
3. eliminate advertising
4. maximize sales volume
5. raise the price as much as possible

QUESTION 13

1. National Product Company is indecisive about what prices it should charge for items in its new product line. The company wants the most accurate data on customers' willingness-to-pay for its products. By using ________, which can yield very precise estimates of demand and price sensitivities at numerous price points, National Product Company can gather the data it needs to set prices.
2. survey data
3. conjoint analysis
4. online data
5. scanner data

QUESTION 14

1. What is the marketing manager's favorite tool to study pricing?
2. conjoint
3. surveys
4. scanner data
5. meta-analysis