The Decision of Macy's to Use Even Prices Such as $60

question 65

Multiple Choice

The decision of Macy's to use even prices such as $60 for a Ralph Lauren Polo shirt is an application of odd-even pricing,and even prices are often used to

• A) give a product an upscale or exclusive image.
• B) show customers products are priced based on tradition.
• C) coordinate efforts with a promotional campaign.
• D) indicate prices have been cut to the last penny.
• E) facilitate comparison to competitors' prices.

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Definitions:

Gross Profit Margin

A financial metric that measures the proportion of money left over from revenues after accounting for the cost of goods sold, expressed as a percentage.

Multiple-Step Statement

An income statement that shows numerous steps to arrive at net income, including gross profit, operating income, and other income and expenses.

Single-Step Statement

An income statement format that calculates net income or loss using a single subtraction of total expenses from total revenues.

Net Income

The total profit of a company after accounting for all expenses and taxes; the bottom line of the income statement.