Exam 6: Understanding costs and developing pricing strategy

The relationship between the average price actually obtained and the maximum price that might have been charged is referred to as the 'yield percentage'.

(True/False)

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Question 41

Customers often use price as a surrogate for quality in the case of services.Explain why this might occur and how this would apply to a legal office.

(Essay)

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Question 42

Home delivery pizza services have multiplied in recent times, encouraging a high level of competition.How would this competition be likely to affect pricing policies?

(Essay)

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Question 43

Which of the following are conditions that could encourage the use of revenue management?

(Multiple Choice)

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Question 44

In terms of the 'building the service model and creating customer value' model, which of the following services could be classified as having the most fixed and predictable duration of customer use?

(Multiple Choice)

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Question 45

Rate fences, both physical and non-physical, are more a concept than an efficient tool in services marketing.

(True/False)

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Question 46

The ___________ of the service to the customer sets a ceiling to the price that may be charged.

(Multiple Choice)

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Question 47

One problem that is unique to the service industry is that their services have a fixed capacity and their services are perishable.

(True/False)

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Question 48

Price can play a strategic role in which of the following ways?

(Multiple Choice)

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Question 49

Which of the following does NOT demonstrate the principle of the use of physical rate fences to support revenue management?

(Multiple Choice)

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Question 50

When price is set and used with the aim of maximising sales, cash flow and/or profits, we may say that the pricing objective is primarily:

(Multiple Choice)

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Question 51

Which of the following is an amenities rate fence?

(Multiple Choice)

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Question 52

A cost management system that provides a structured way of thinking about the relationship between activities and the resources they consume is known as:

(Multiple Choice)

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Question 53

Which of the following is NOT a way in which pricing can be used for strategic purposes?

(Multiple Choice)

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Question 54

Using the example of a hotel business, discuss the concepts of 'yield management' and ARGE.

(Essay)

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Question 55

Firms that have relatively undifferentiated products are rarely influenced by their competitors' pricing strategies.

(True/False)

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Question 56

___________ is concerned with obtaining the best possible yield over time from each available unit of capacity.

(Multiple Choice)

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Question 57

Activity-based costing has been adopted by a growing number of organisations to enable them to reduce their reliance on traditional cost-accounting systems.

(True/False)

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Question 58

Services often invite performance and pricing abuses for which of the following reasons?

(Multiple Choice)

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Question 59

When can a service be said to be price-elastic?

(Multiple Choice)

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Question 60

Showing 41 - 60 of 75

The relationship between the average price actually obtained and the maximum price that might have been charged is referred to as the 'yield percentage'.

Customers often use price as a surrogate for quality in the case of services.Explain why this might occur and how this would apply to a legal office.

Home delivery pizza services have multiplied in recent times, encouraging a high level of competition.How would this competition be likely to affect pricing policies?

Which of the following are conditions that could encourage the use of revenue management?

In terms of the 'building the service model and creating customer value' model, which of the following services could be classified as having the most fixed and predictable duration of customer use?

Rate fences, both physical and non-physical, are more a concept than an efficient tool in services marketing.

The ___________ of the service to the customer sets a ceiling to the price that may be charged.

One problem that is unique to the service industry is that their services have a fixed capacity and their services are perishable.

Price can play a strategic role in which of the following ways?

Which of the following does NOT demonstrate the principle of the use of physical rate fences to support revenue management?

When price is set and used with the aim of maximising sales, cash flow and/or profits, we may say that the pricing objective is primarily:

Which of the following is an amenities rate fence?

A cost management system that provides a structured way of thinking about the relationship between activities and the resources they consume is known as:

Which of the following is NOT a way in which pricing can be used for strategic purposes?

Using the example of a hotel business, discuss the concepts of 'yield management' and ARGE.

Firms that have relatively undifferentiated products are rarely influenced by their competitors' pricing strategies.

___________ is concerned with obtaining the best possible yield over time from each available unit of capacity.

Activity-based costing has been adopted by a growing number of organisations to enable them to reduce their reliance on traditional cost-accounting systems.

Services often invite performance and pricing abuses for which of the following reasons?

When can a service be said to be price-elastic?

Marketing in the service economy

Customer behaviour, culture and service encounters

Positioning services in competitive markets

Developing service products: core and supplementary service elements

Distributing services through physical and electronic channels

Balancing productive capacity and demand

Integrated services marketing communications

Managing people for service advantage

Crafting the service environment

Managing the customer service function

Customer satisfaction and service quality

Managing relationships and building loyalty

Handling customer complaints and managing service recovery

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