#1
Which pricing strategy involves setting prices based on the perceived value of a product or service?
Value-based pricing
ExplanationSetting prices according to the perceived worth of the product or service.
#2
Which of the following is NOT a factor typically considered when setting prices?
Employee satisfaction
ExplanationEmployee satisfaction is not a typical consideration in setting prices.
#3
What is the role of a sales quota in sales analysis?
To set targets for sales representatives
ExplanationSetting targets for sales representatives in sales analysis.
#4
Which of the following is NOT typically a factor in determining the optimal pricing strategy?
Employee satisfaction
ExplanationEmployee satisfaction is not typically considered in determining the optimal pricing strategy.
#5
What is the primary goal of conducting a price comparison analysis?
To evaluate the effectiveness of pricing strategies used by competitors
ExplanationEvaluating the effectiveness of pricing strategies used by competitors in price comparison analysis.
#6
What is the formula for calculating the contribution margin ratio?
(Selling price per unit - Variable cost per unit) / Selling price per unit
ExplanationFormula to calculate the contribution margin ratio in sales analysis.
#7
What is the Break-Even Point (BEP) in sales analysis?
The point at which total revenue equals total fixed costs
ExplanationThe point where total revenue covers total fixed costs in sales analysis.
#8
What is the primary goal of dynamic pricing?
Maximizing profit by adjusting prices based on market demand and other factors in real-time
ExplanationMaximizing profit through real-time price adjustments based on market demand.
#9
In sales analysis, what does the term 'Conversion Rate' refer to?
The percentage of website visitors who take a desired action
ExplanationPercentage of website visitors taking a desired action in sales analysis.
#10
What is the formula for calculating the price elasticity of demand?
(Percentage change in price) / (Percentage change in quantity demanded)
ExplanationFormula to calculate price elasticity of demand in sales analysis.
#11
What is a common method for estimating demand elasticity?
Price elasticity of demand
ExplanationA commonly used method to estimate demand elasticity in pricing.
#12
What does the term 'Price Skimming' refer to in pricing strategy?
Setting a high price initially and then lowering it over time
ExplanationInitiating with a high price and gradually reducing it over time.
#13
Which of the following is a characteristic of a monopolistic market structure?
A few sellers with similar but differentiated products
ExplanationMonopolistic market structure features few sellers with similar but differentiated products.
#14
What is the primary goal of conducting a price sensitivity analysis?
To determine the impact of price changes on consumer demand
ExplanationAssessing the impact of price changes on consumer demand.
#15
What is the purpose of conducting a sales variance analysis?
To determine the reasons behind sales fluctuations
ExplanationAnalyzing the reasons for fluctuations in sales.