Question 1

Many consumers perceive higher-priced products as ________.

Accepted Answer

A) not within reach of most people 
B) having a higher quality 
C) having high profit margins 
D) popular brands 
E) being in the introductory stage of the product life-cycle 
A) not within reach of most people 
B) having a higher quality 
C) having high profit margins 
D) popular brands 
E) being in the introductory stage of the product life-cycle

Question 2

If demand changes greatly with a small change in price,we say the demand is ________.

Accepted Answer

A) inelastic 
B) variable 
C) elastic 
D) value-based 
E) fixed 
A) inelastic 
B) variable 
C) elastic 
D) value-based 
E) fixed

Question 3

The major price-adjustment strategies include discount and allowance pricing,segmented pricing,psychological pricing,promotional pricing,geographical pricing,dynamic pricing and international pricing.

Accepted Answer

A) True 
 B)False

Question 4

Product costs set a floor to a product's price;consumer perceptions of the product's value set the ceiling.

Accepted Answer

A) True 
 B)False

Question 5

Trade or functional discounts are offered by manufacturers to which of the following?

Accepted Answer

A) channel members who perform tasks that the manufacturer would otherwise have to perform 
B) consumers who earn a price reduction for buying in bulk 
C) intermediaries such as financing institutions as a cost of doing business with them 
D) manufacturers that agree to exclusive distribution contracts 
E) the government market and other organisations that require bid proposals 
A) channel members who perform tasks that the manufacturer would otherwise have to perform 
B) consumers who earn a price reduction for buying in bulk 
C) intermediaries such as financing institutions as a cost of doing business with them 
D) manufacturers that agree to exclusive distribution contracts 
E) the government market and other organisations that require bid proposals

Question 6

Deceptive pricing issues include scanner fraud and price confusion

Accepted Answer

A) True 
 B)False

Question 7

Pricing a product mix is often difficult because various products have related demand and costs,and they face different degrees of competition.

Accepted Answer

A) True 
 B)False

Question 8

When rival companies illegally talk to each other about their price setting intentions,this is known as price ________.

Accepted Answer

A) predation 
B) collusion 
C) plagiarism 
D) penetration 
E) deception 
A) predation 
B) collusion 
C) plagiarism 
D) penetration 
E) deception

Question 9

The simplest pricing method is breakeven pricing,which involves determining the price at which costs will be covered.

Accepted Answer

A) True 
 B)False

Question 10

When Pepsi came out with Pepsi Blue and priced it at half price to attract buyers,Pepsi was using ________.

Accepted Answer

A) marketing-skimming pricing 
B) market-penetration pricing 
C) new-product pricing 
D) discount pricing 
E) promotional allowances 
A) marketing-skimming pricing 
B) market-penetration pricing 
C) new-product pricing 
D) discount pricing 
E) promotional allowances

Question 11

A challenge for management in product line pricing is to decide on the price steps between the ________.

Accepted Answer

A) various products in a line 
B) product mixes 
C) product groupings 
D) product lines 
E) various target markets 
A) various products in a line 
B) product mixes 
C) product groupings 
D) product lines 
E) various target markets

Question 12

________ costs are those that do not vary with production or sales levels.

Accepted Answer

The answer of ________ costs are those that do not...

Question 13

With target costing,marketers will first ________ and then ________.

Accepted Answer

A) build the marketing mix;identify the target market 
B) identify the target market;build the marketing mix 
C) design the product;determine its cost 
D) use skimming pricing;use penetrating pricing 
E) determine a selling price;target costs to ensure that the price is met 
A) build the marketing mix;identify the target market 
B) identify the target market;build the marketing mix 
C) design the product;determine its cost 
D) use skimming pricing;use penetrating pricing 
E) determine a selling price;target costs to ensure that the price is met

Question 14

Price is one of the most flexible marketing mix elements.

Accepted Answer

A) True 
 B)False

Question 15

________ pricing involves setting prices based on the costs for producing,distributing and selling the product,plus a target profit.

Accepted Answer

A) Variable cost 
B) Cost-plus 
C) Cost-based 
D) Good-value 
E) Value-added 
A) Variable cost 
B) Cost-plus 
C) Cost-based 
D) Good-value 
E) Value-added

Question 16

A steam cleaning firms offers to clean the carpet in three rooms for a low basic price of $100 as a means of attracting customers.The company intends to make money by selling extras,such as cleaning chairs,sofas,rugs,curtains and cleaning additional rooms.This is an example of ________ pricing.

Accepted Answer

The answer of A steam cleaning firms offers to clean...

Question 17

Swatch surveyed the market and identified an unserved segment of watch buyers.Using these results,they created a watch at a price consumers were willing to pay.The unorthodox order of this marketing mix decision is an example of ________.

Accepted Answer

A) competition-based pricing 
B) cost-plus pricing 
C) target costing 
D) value-based pricing 
E) penetration pricing 
A) competition-based pricing 
B) cost-plus pricing 
C) target costing 
D) value-based pricing 
E) penetration pricing

Question 18

When a car manufacturer offers a ________,customers may purchase a vehicle from a dealership within a specified time period and are able to negotiate attractive terms and trade-in allowances with the dealer,none of which affect the size of the cheque sent by the manufacturer in the post-sale period.

Accepted Answer

A) cash rebate 
B) special event price 
C) dealer reduction 
D) promotional pricing reward 
E) discount allowance 
A) cash rebate 
B) special event price 
C) dealer reduction 
D) promotional pricing reward 
E) discount allowance

Question 19

Under ________,the market consists of a few sellers who are highly sensitive to each other's pricing and marketing strategies.

Accepted Answer

A) pure competition 
B) monopolistic competition 
C) oligopolistic competition 
D) a pure monopoly 
E) capitalism 
A) pure competition 
B) monopolistic competition 
C) oligopolistic competition 
D) a pure monopoly 
E) capitalism

Question 20

Measuring ________ can be difficult.A company might conduct surveys or experiments to test this in the different products they offer.

Accepted Answer

A) target returns 
B) fixed costs 
C) perceived value 
D) breakeven pricing 
E) variable costs 
A) target returns 
B) fixed costs 
C) perceived value 
D) breakeven pricing 
E) variable costs

Many consumers perceive higher-priced products as ________.

If demand changes greatly with a small change in price,we say the demand is ________.

The major price-adjustment strategies include discount and allowance pricing,segmented pricing,psychological pricing,promotional pricing,geographical pricing,dynamic pricing and international pricing.

Product costs set a floor to a product's price;consumer perceptions of the product's value set the ceiling.

Trade or functional discounts are offered by manufacturers to which of the following?

Deceptive pricing issues include scanner fraud and price confusion

Pricing a product mix is often difficult because various products have related demand and costs,and they face different degrees of competition.

When rival companies illegally talk to each other about their price setting intentions,this is known as price ________.

The simplest pricing method is breakeven pricing,which involves determining the price at which costs will be covered.

When Pepsi came out with Pepsi Blue and priced it at half price to attract buyers,Pepsi was using ________.

A challenge for management in product line pricing is to decide on the price steps between the ________.

________ costs are those that do not vary with production or sales levels.

With target costing,marketers will first and then .

Price is one of the most flexible marketing mix elements.

________ pricing involves setting prices based on the costs for producing,distributing and selling the product,plus a target profit.

A steam cleaning firms offers to clean the carpet in three rooms for a low basic price of $100 as a means of attracting customers.The company intends to make money by selling extras,such as cleaning chairs,sofas,rugs,curtains and cleaning additional rooms.This is an example of ________ pricing.

Swatch surveyed the market and identified an unserved segment of watch buyers.Using these results,they created a watch at a price consumers were willing to pay.The unorthodox order of this marketing mix decision is an example of ________.

When a car manufacturer offers a ________,customers may purchase a vehicle from a dealership within a specified time period and are able to negotiate attractive terms and trade-in allowances with the dealer,none of which affect the size of the cheque sent by the manufacturer in the post-sale period.

Under ________,the market consists of a few sellers who are highly sensitive to each other's pricing and marketing strategies.

Measuring ________ can be difficult.A company might conduct surveys or experiments to test this in the different products they offer.

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analysing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behaviour

Business Markets and Business Buyer Behaviour

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services and Brands: Building Customer Value

Pricing Strategies: Understanding and Capturing Customer Value

Additional Pricing Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Filters

Exam 9: Developing New Products and Managing the Product

Many consumers perceive higher-priced products as ________.

If demand changes greatly with a small change in price,we say the demand is ________.

The major price-adjustment strategies include discount and allowance pricing,segmented pricing,psychological pricing,promotional pricing,geographical pricing,dynamic pricing and international pricing.

Product costs set a floor to a product's price;consumer perceptions of the product's value set the ceiling.

Trade or functional discounts are offered by manufacturers to which of the following?

Deceptive pricing issues include scanner fraud and price confusion

Pricing a product mix is often difficult because various products have related demand and costs,and they face different degrees of competition.

When rival companies illegally talk to each other about their price setting intentions,this is known as price ________.

The simplest pricing method is breakeven pricing,which involves determining the price at which costs will be covered.

When Pepsi came out with Pepsi Blue and priced it at half price to attract buyers,Pepsi was using ________.

A challenge for management in product line pricing is to decide on the price steps between the ________.

________ costs are those that do not vary with production or sales levels.

With target costing,marketers will first ________ and then ________.

Price is one of the most flexible marketing mix elements.

________ pricing involves setting prices based on the costs for producing,distributing and selling the product,plus a target profit.

A steam cleaning firms offers to clean the carpet in three rooms for a low basic price of $100 as a means of attracting customers.The company intends to make money by selling extras,such as cleaning chairs,sofas,rugs,curtains and cleaning additional rooms.This is an example of ________ pricing.

Swatch surveyed the market and identified an unserved segment of watch buyers.Using these results,they created a watch at a price consumers were willing to pay.The unorthodox order of this marketing mix decision is an example of ________.

Under ________,the market consists of a few sellers who are highly sensitive to each other's pricing and marketing strategies.

Measuring ________ can be difficult.A company might conduct surveys or experiments to test this in the different products they offer.

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analysing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behaviour

Business Markets and Business Buyer Behaviour

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services and Brands: Building Customer Value

Pricing Strategies: Understanding and Capturing Customer Value

Additional Pricing Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Filters

With target costing,marketers will first and then .