1. There are many areas of external influences that affect pricing decisions. Which of the following is NOT one of these areas of external influences?
- b) Competitors
- c) Demand and price elasticity
- d) Organisational objectives
- a) Legal and regulatory factors
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Other questions in this quiz
2. “Price” enables the organisation to achieve which of the following outcomes?
- b) Profit
- a) Revenue streams
- d) All of the above
- c) Demand management
3. A consumer changing or twisting information when it is inconsistent with personal feelings or beliefs is known as _____________.
- a) Selective exposure
- d) Selective attention
- b) Selective distortion
- c) Selective retention
4. Which of the following is true of strategic planning in a firm?
- a) Strategic planning involves the formulation of supporting objectives for business units based on the company's mission statement
- c) Strategic planning deals with maintaining the company's current business ventures
- d) Strategic planning deals with adapting the firm to take advantage of opportunities in its changing environment
- b) Strategic planning occurs at the business-unit, product, and market levels rather than a company-wide level
5. Laws are passed to define and prevent unfair competition primarily because ________.
- Businesses sometimes try to neutralise threatening firms
- c) Business executives tend to favour pure monopolies
- a) Governments in free market economies tend to nationalise ailing firms
- b) Private lobbying hurts the interests of national and state governments