Download Professional Certified Marketer.PCM.ExamCollection.2020-03-18.190q.vcex

Vendor: AMA
Exam Code: PCM
Exam Name: Professional Certified Marketer
Date: Mar 18, 2020
File Size: 99 KB
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Demo Questions

Question 1
LockIt, a manufacturer of electronic safes, accounts for 5% of the safes sold in the U.S. LockIt's current business strategy is aimed at selling better-quality products at higher prices than competitors. The higher prices make LockIt one of the leaders in terms of revenue earned. Having satisfied initial objectives of earning a certain ROI, LockIt sets a target of accounting for 25% of the units sold during the next financial year. To further this goal, LockIt introduces a line of lower-priced safes that are priced below similar competing products. LockIt's new pricing strategy is _____.
  1. sales oriented
  2. profit oriented
  3. customer oriented
  4. supplier oriented
  5. competitor oriented
Correct answer: A
Question 2
Port, an OEM of computer hardware, accounts for 6% of the computer hardware sold in the U.S. Retailers uses hardware from OEMs like Port to assemble personal computers. Owing to the competitive nature of the industry, Port's pricing is uniform with offerings from other manufacturers. The rise and fall in pricing is dictated more by the rise and fall in prices of raw material, labor, and utilities across the industry. Port's pricing strategy is focused on _____.
  1. competitive parity
  2. target profits
  3. maximizing profits
  4. target returns
  5. market shares
Correct answer: A
Question 3
When firms collude to set prices for products, it is referred to as _____.
  1. price discrimination
  2. price fixing
  3. predatory pricing
  4. tying arrangements
  5. exclusive dealing
Correct answer: B
Question 4
The Better Business Bureau suggests that at least _____ of the sales should occur at a price for it to be used as a reference price.
  1. 20 percent
  2. 30 percent
  3. 40 percent
  4. 50 percent
  5. 60 percent
Correct answer: D
Question 5
In Ravonia, the telecom sector is dominated by four major service providers: Flank, Zelno, Tuhaz, and Klock. The service providers determine call rates and broadband rates using a collective strategy. They maintain uniform pricing and compete mainly on quality and service. Flank, Zelno, Tuhaz, and Klock are using a _____ strategy.
  1. deceptive reference pricing
  2. bait-and-switch
  3. horizontal price fixing
  4. manufacturer ’s suggested retail pricing
  5. price discrimination
Correct answer: C
Question 6
Pluto, a footwear company, designs and creates sports shoes for children. Since most of Pluto's target market consists of children who are in school, Pluto's retailers agree to sell its shoes for a certain amount below the actual price on the products. The price that Pluto and its retailer agree to sell the sports shoes for is known as _____.
  1. the value-based price
  2. the loss leader price
  3. the everyday low price
  4. the manufacturer’s suggested retail price
  5. the reference price
Correct answer: D
Question 7
Carnival Cruise Lines increased the price of its seven-day cruise package by 20 percent recently. If demand for its cruises is negatively elastic, which of the following is the likely outcome of the increase in price?
  1. The company will see an increase in customer bookings.
  2. The company's profit will decrease though its revenue will increase.
  3. The company will see a decrease in total revenue.
  4. There will be no change in the number of cruises booked.
  5. The company's total revenue will increase.
Correct answer: C
Question 8
Which of the following is true of price elasticity?
  1. The lower the number of substitute products, the higher the price elasticity of demand for a given product.
  2. Rises in income can lead to drops in price elasticity even though product prices are constant.
  3. Products for which demand is highly inelastic are susceptible to minor changes in price.
  4. Generally, if demand for a product is inelastic, lowering the price will appreciably increase demand.
  5. Consumers are generally more sensitive to price decreases than to price increases.
Correct answer: B
Question 9
A firm sells 20,000 units of a particular product at a price of $50 per unit. The company spends $30 per unit in raw materials and labor charges. What are company's fixed costs if it made a profit of $100,000?
  1. $100,000
  2. $200,000
  3. $300,000
  4. $400,000
  5. $500,000
Correct answer: C
Question 10
In Travnia, an industrial country, the government controls most of the utilities, including power and water supply. The bottled-water market, however, has four major players: Balk, Pentl, Valr, and Tidum. Each of the companies markets its product using a distinct branding strategy. In an attempt to gain a larger market share, Pentl reduces the price of its products by 10%. It expects to make up for the lost revenue from an increase in sales. Which of the following is true of this scenario?
  1. The government's control of most of the utilities including power and water supply represents monopolistic competition.
  2. The power supply industry in Travnia is oligopolistic in nature.
  3. The competition in the bottled-water industry represents pure competition.
  4. Pentl's current pricing strategy can be termed as predatory pricing.
  5. A price war would erupt if the other firms reduced prices, too, and forced Pentl to reduce prices further.
Correct answer: E
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