$62.50 for the product plus $62.50 for the markup makes this item $125 for the ultimate consumer.The truth is, I cringe a little when I hear this question. Their markup is 100% of the product cost, or $62.50. The markup the distributor adds is $12.50, making the product cost $62.50 to the retailer. However, those numbers can fluctuate on the industry and when considering justification, the cost of the mailing should be a consideration. Typically, a response rate of 2-3% is considered a successful campaign. Exclusive distribution is when a company determines one retailer per country, state or city will be the only way of purchasing their product. Our Principles of Marketing CLEP Study guide has 118 MORE test questions to help you get ready for the test!
What is the price a retail customer will pay?ĩ) When existing products are marketed to new groups it is calledġ0) _ is related to the pattern of sales to the marketing effort. The retailer then has a 100% markup on the product sold to the ultimate consumer. The manufacturer sells their product for $50 to the distributor who marks up the product 25% before selling to the retailer. Still learning about CLEP tests or you need more information than just a CLEP sample test? Visit our New Student Center to get a great overview of where to start.ġ) A decline in purchasing power due to price levels rising faster than income is calledĢ) The CEO of a major corporation giving a talk show interview is an example ofģ) The T is SWOT analysis stands for what?Ĥ) When you can only buy the latest video game from Walmart, the manufacturer for that game is participating inĥ) What is the first step in the process of decision making of a purchase?Ħ) What is the average response rate for direct mail marketing?ħ) Producing a product for use in another country is calledĨ) An aftermarket car parts manufacturer sells their product to a distributor who then sells directly to retail car accessory stores. Taking a practice CLEP test can tell you if you are ready, it can give you an idea of the content of the CLEP test, it can tell you how difficult or easy your CLEP test will be. Studying for a CLEP test does take effort, but based on your previous and current experience, there may be CLEP tests that you can take with little or no study. How do you know when you are ready? A good way to tell is when you can flip open our CLEP study guide, put your finger on a page, any page, and be able to define and explain what it is you're pointing out. You can also use these CLEP sample test questions to gauge how ready you are to take your CLEP test. Take a quick CLEP sample test with our FREE CLEP practice sample questions! These are a quick preview of what kind of information you'll be studying in our CLEP Study Guide for this subject.
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