Marketing Chapter 25 Flashcards
1
Q
Marketing position
A
Show a business relative standing in a sales volume comparison among competitors
2
Q
Price
A
When sales revenue equals the cost and expenses of making and distributing a product
3
Q
Price fixing
A
An agreement among competitors to establish price ranges
4
Q
Loss leader
A
An item priced at cost to attract customers
5
Q
What is the return of investment formula?
A
Total profit
Divided
Total cost
6
Q
What is the break even formula?
A
Selling price
Divided
Total cost
7
Q
Demand elasticity
A
The degree to which consumers desires for a product are affected by price
