Exam 9: Pricing: Understanding and Capturing Customer Value

________ refers to selling below cost with the intention of punishing a competitor or gaining higher long-run profits by putting competitors out of business.

Market skimming makes sense when the product's quality and image support its higher price,and enough buyers want the product at that price.

Busch Stadium in St.Louis charges different prices for seats in different areas of the ball park,even though their costs are the same.What is this form of pricing called?

Price is the only element in the marketing mix that produces ________.

Pricing strategies usually remain the same as the product passes through its life cycle.

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

Vac "N' Sew will give customers $100 for a used vacuum cleaner,regardless of condition,when they purchase a new vacuum or sewing machine.This essentially reduces the price by $100.What is this type of discount called?

Penny Bank,a discount retail chain,is highly competitive.When entering a new market,Penny Bank often cuts prices so deeply that it sells below costs,effectively pushing smaller retail stores with less purchasing power out of the market.Penny Bank is at risk of being accused of ________.

If Dell charges the same price for delivery of its product to any customer that is located within the Great Lakes states,the company is using ________.

When General Motors provides payments or price reductions to its new car dealers as rewards for participating in advertising and sales support programs,it is granting a ________.

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

________ prices are the prices that a buyer carries in his/her mind and refers to when looking at a given product.

When NerdHerd Electronics sets its televisions at three price levels of $699,$899,and $1,099,it is using ________.

In a pure monopoly,the market is dominated by one seller.

Underpriced products sell very well,but they produce less revenue than they would have if the price were raised to the ________ level.

________ pricing is the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share.

Which of the following is the opposite of FOB-origin pricing?

Explain product line pricing.

Setting a price for products that must be used along with a main product is known as ________ pricing.

The New Age Gallery has different admission prices for students,adults,and seniors.All three groups are entitled to the same services.This form of pricing is called ________.