Study Guide and Quiz Answers

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21
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Price skimming works best for which type of product?

A
Products that haven't been advertised much
B
Inexpensive products with many competitors
C
Products with elastic demand
D
High-end products with unique features
22
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Which of the following is an example of a variable cost?

A
Hourly labor
B
Interest on a loan
C
Insurance
D
Rent for an office
23

Which category in Maslow's hierarchy includes basic survival needs such as air, food, water, and shelter?

A
Physiological needs
B
Social needs
C
Safety needs
D
Self Actualization
24

When a potential customer becomes serious about the purchase and is likely to buy the product, the customer becomes a ___________.

A
Sales prospect
B
Retained customer
C
Cross seller
D
Sales quota
25

What is a clientele?

A
A list of benefits a product provides for customers
B
A team of employees who promote customer retention
C
An individual customer who is unhappy with the company's product
D
A collection of customers who purchase and use a company's product
26

Which of the following is an example of a variable cost?

A
Hourly labor
B
Interest on a loan
C
Insurance
D
Rent for an office

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