Practice Exam Quiz

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Practice Exam Quiz
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• Mid semester prep Quiz (3 points)
• 3 for an A or B answer,
• 2 for a C,
• 1 for a D or if you spell your name correctly.
• STOP at 10 minutes
• Name ___________ Class Time __________ Grade
  _____
• Philosophy The final is your opportunity to
  illustrate that you not only understand the
  critical components of internet based marketing,
  but can also apply these concepts. I expect all
  of your essays to go beyond definitional, short
  answers. By that, you should be prepared to
  provide unique examples (not just the ones we
  used in class) AND your personal opinions
  concerning the issues.

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• 1a. Discuss pricing for goods and services as it
  affected by the internet.
• 1b. Using your experiences, research and
  activities provide examples of some pricing
  strategies online.
• 1c. What will happen to prices online in the
  future?

10 mInutes
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• 1a. Discuss pricing for goods and services as it
  affected by the internet.
• 1b. Using your experiences, research and
  activities provide examples of some pricing
  strategies online.
• 1c. What will happen to prices online in the
  future?

5 mInutes
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• 1a. Discuss pricing for goods and services as it
  affected by the internet.
• 1b. Using your experiences, research and
  activities provide examples of some pricing
  strategies online.
• 1c. What will happen to prices online in the
  future?

1 mInute
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• 1a. Discuss pricing for goods and services as it
  affected by the internet.
• 1b. Using your experiences, research and
  activities provide examples of some pricing
  strategies online.
• 1c. What will happen to prices online in the
  future?

30 seconds
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• STOP

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Sample Answer 1Grade ?

• Prices are what people pay for products and
  services. Sometimes there are high prices on the
  internet and sometimes they are low. I like the
  low prices. In the future, if prices get lower, I
  will probably buy more. I have seen prices at
  sites like Wal-Mart.com and Google.

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Sample Answer 2Grade ?

• There are a number of pricing strategies such as
  Cost plus, target profit growth, target return
  pricing, prestige pricing, cyclical promotional
  pricing, everyday low pricing and promotional low
  cost pricing.
• In the future all prices will be the same because
  pricing is transparent online.

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Sample Answer 3

• 1a. Pricing is affected online a number of
  different ways. For example, a couple of things
  that can cause prices to be lower no sales tax,
  no need to carry an inventory, you can easily see
  the competitors prices and you do not need a
  fancy store. A couple of things that can cause
  prices to go up are the cost of next day
  shipping, especially for perishable items like
  lobsters, and having to keep the site updated and
  fresh looking. However, these change I just read
  an article that said taxes will be collected on
  some sites. Over-?

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Sample Answer 3

• 1b.Some pricing strategies I am familiar with
  could be dynamic pricing in which different
  customers pay different prices on sites such as
  ebay. Also manufacturers setting high prices on
  their sites so their retailers dont get mad at
  them . I looked at a pair of running shoes
  (Reebok Premier Road DMX Cushion Running Shoe
  Womens) at reebok and then at the sports
  authority, the price was the same except sports
  authority had a buy two save 50 off so theirs
  was technically cheaper if I bought 2 pair. A
  second strategy could be the low price guaranteer
  that sounddomain uses where they will match any
  internet price. Over-?

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Sample Answer 3Grade ?

• 1c. When I was at the reebok and SA sites I
  noticed that the order forms were exactly the
  same! So one future thing could be that all of
  the stores are really one store but with
  different namesso the internet really leads to a
  monopoly for each product category. Another
  thing that could happen would be the sharing of
  information through intelligent agents, cookies
  and profiles that I fill out and then using that
  information to provide a price so all prices are
  different for everyone.either way it doesnt
  look good!

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What else could be included?

• Pricing for airline tickets.
• Effect sites such as pricescan have.
• How product bundling changes prices.
• The priceline model
• Cost of advertising (Ditech commercials)
• Free samples
• More on auctions
• Effects of mass customization in the future