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QR Challenge: Pricing Unit Test Review

Created using the ClassTools QR Treasure Hunt Generator

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Teacher Notes

A. Prior to the lesson:

1. Arrange students into groups. Each group needs at least ONE person who has a mobile device.

2. If their phone camera doesn't automatically detect and decode QR codes, ask students to

3. Print out the QR codes.

4. Cut them out and place them around your class / school.

B. The lesson:

1. Give each group a clipboard and a piece of paper so they can write down the decoded questions and their answers to them.

2. Explain to the students that the codes are hidden around the school. Each team will get ONE point for each question they correctly decode and copy down onto their sheet, and a further TWO points if they can then provide the correct answer and write this down underneath the question.

3. Away they go! The winner is the first team to return with the most correct answers in the time available. This could be within a lesson, or during a lunchbreak, or even over several days!

C. TIPS / OTHER IDEAS

4. A detailed case study in how to set up a successful QR Scavenger Hunt using this tool can be found here.

Questions / Answers (teacher reference)

Question

Answer

1. When Walgreens Drugstores advertises one price for the cost of a roll of film an the cost of processing it, they are using?Bundle Pricing
2. Eckerd Drugs advertises that its Tylenol prices are "the lowest in town" in order to stimulate sales of other products along with Tylenol. This is an example of:Loss Leader Pricing
3. A retail department store that has price tags on all of its merchandise is practicing a _____.One-Price Policy
4. A companies relative standing/rank to competitors is known as:Market Position
5. A retailer pays a wholesaler $24.00 for an item and then sells it with a 25% markup. The retailer's selling price is:$30
6. The federal law that prohibits sellers from offering one price to one customer and another price to another customer in the same class of trade is the.Robinson-Patman Act
7. A retailer who advertises a low price on an item--with no intent to sale that item--but only to attract customers to try to sell more expensive products is using:Bait and Switch
8. The idea that people will pay extra for "quality" and the status is the idea behind.Prestige Pricing
9. Mark-up pricing is used primarily by:Retailers
10. The Prices a business charges its customers for its products are important because they establish and maintain a firm's:Image, Competitive Edge, and Profits
11. A store that prices all of its sweaters at $25, $35, $50 is following:Pricing Lining Policy
12. Some Marketers set prices based on what they believe is the consumer's perceived value of the item. What pricing are such marketers using?Demand-oriented Pricing
13. Penetration pricing involves:Setting an initial low price to establish a new product in the market
14. To suggest a bargain and help increases sales volume, some businesses make it a practice to:price items in multiples, like 3 for $1
15. The _________ determines how much money a business will make to cover the costs of designing, producing, and marketing its products or services.profit
16. A(n) ________________ is offered to customers who buy large numbers or a large amount of a product.Quantity discount
17. A(n)__________ is a specific price reduction offered by a channel member through a printed promotional certificate.coupon
18. A reduction from the original selling priceMarkdown
19. The relationship between changes in a product’s price and the demand for that productElasticity of demand
20. The difference between the selling price and all costs and operating expenses associated with the products soldNet Profit
21. Increases total revenue when prices decreaseelastic demand
22. All customers pay the same priceone price policy
23. A very high price designed to emphasize the quality and uniqueness of the productskimming
24. A very low price designed to increase the quantity sold of a product by emphasizing the valuepenetration price
25. De-emphasizes price by developing a unique offering that meets an important customer neednon-price competition
26. The quantity of a product that must be sold for total revenues to match total costs at a specific pricebreakeven point
27. Costs associated with business operationsOperating Expenses
28. Allows customers to negotiate price within a price rangeflexible pricing policy
29. An amount added to the cost of a product to determine the selling priceMarkup
30. Distinct categories of prices based on differences in product quality and featuresPrice lines

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=When_Walgreens_Drugstores_advertises_one_price_for_the_cost_of_a_roll_of_film_an_the_cost_of_processing_it,_they_are_using?

Question 1 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Eckerd_Drugs_advertises_that_its_Tylenol_prices_are_"the_lowest_in_town"_in_order_to_stimulate_sales_of_other_products_along_with_Tylenol._This_is_an_example_of:

Question 2 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=A_retail_department_store_that_has_price_tags_on_all_of_its_merchandise_is_practicing_a______.

Question 3 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=A_companies_relative_standing/rank_to_competitors_is_known_as:

Question 4 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=A_retailer_pays_a_wholesaler_$24.00_for_an_item_and_then_sells_it_with_a_25%_markup._The_retailer's_selling_price_is:

Question 5 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=The_federal_law_that_prohibits_sellers_from_offering_one_price_to_one_customer_and_another_price_to_another_customer_in_the_same_class_of_trade_is_the.

Question 6 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=A_retailer_who_advertises_a_low_price_on_an_item--with_no_intent_to_sale_that_item--but_only_to_attract_customers_to_try_to_sell_more_expensive_products_is_using:

Question 7 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=The_idea_that_people_will_pay_extra_for_"quality"_and_the_status_is_the_idea_behind.

Question 8 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Mark-up_pricing_is_used_primarily_by:

Question 9 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=The_Prices_a_business_charges_its_customers_for_its_products_are_important_because_they_establish_and_maintain_a_firm's:

Question 10 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=A_store_that_prices_all_of_its_sweaters_at_$25,_$35,_$50_is_following:

Question 11 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Some_Marketers_set_prices_based_on_what_they_believe_is_the_consumer's_perceived_value_of_the_item.__What_pricing_are_such_marketers_using?

Question 12 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Penetration_pricing_involves:

Question 13 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=To_suggest_a_bargain_and_help_increases_sales_volume,_some_businesses_make_it_a_practice_to:

Question 14 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=The___________determines_how_much_money_a_business_will_make_to_cover_the_costs_of_designing,_producing,_and_marketing_its_products_or_services.

Question 15 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=A(n)__________________is_offered_to_customers_who_buy_large_numbers_or_a_large_amount_of_a_product.

Question 16 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=A(n)___________is_a_specific_price_reduction_offered_by_a_channel_member_through_a_printed_promotional_certificate.

Question 17 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=A_reduction_from_the_original_selling_price

Question 18 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=The_relationship_between_changes_in_a_product’s_price_and_the_demand_for_that_product

Question 19 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=The_difference_between_the_selling_price_and_all_costs_and_operating_expenses_associated_with_the_products_sold

Question 20 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Increases_total_revenue_when_prices_decrease

Question 21 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=All_customers_pay_the_same_price

Question 22 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=A_very_high_price_designed_to_emphasize_the_quality_and_uniqueness_of_the_product

Question 23 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=A_very_low_price_designed_to_increase_the_quantity_sold_of_a_product_by_emphasizing_the_value

Question 24 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=De-emphasizes_price_by_developing_a_unique_offering_that_meets_an_important_customer_need

Question 25 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=The_quantity_of_a_product_that_must_be_sold_for_total_revenues_to_match_total_costs_at_a_specific_price

Question 26 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Costs_associated_with_business_operations

Question 27 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Allows_customers_to_negotiate_price_within_a_price_range

Question 28 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=An_amount_added_to_the_cost_of_a_product_to_determine_the_selling_price

Question 29 (of 30)

 


Pricing Unit Test Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Distinct_categories_of_prices_based_on_differences_in_product_quality_and_features

Question 30 (of 30)