Chat with AIExam 9: Pricing: Understanding and Capturing Customer Value
Under oligopolistic competition, the market consists of only a few large sellers.
(41) 
VerifiedTrue
Explain how companies that market their products internationally decide what prices to charge in different countries.
(40) VerifiedCompanies that market their products internationally must decide what prices to charge in different countries. In some cases, a company can set a uniform worldwide price. However, most companies adjust their prices to reflect local market conditions and cost considerations. A firm must consider economic conditions, competitive situations, laws and regulations, and development of the wholesale and retail system. Consumer perceptions and preferences also may vary from country to country, calling for different prices. The company may have different marketing objectives in various world markets. Costs play an important role in setting international prices. In some cases, price escalation may result from differences in selling strategies or market conditions. In most instances, however, it is simply a result of the higher costs of selling in another country-the additional costs of operations, product modifications, shipping and insurance, import tariffs and taxes, exchange-rate fluctuations, and physical distribution.
Under , the market consists of many buyers and sellers trading over a range of prices rather than a single market price.
(39) VerifiedE
With reference to the different types of markets, compare pure competition with monopolistic competition.
Provide an example for each.
(32) Movie theaters charge matinee pricing during the daytime, and resorts give weekend and seasonal discounts. This is illustrative of a _ pricing strategy.
(33) Rakuten is an example of an e-commerce platform. They refer you to a particular store and the company receives commission if you purchase through their website, which they pass on to you. This is a newer example of a company offering a _.
(21) With each new generation of Apple iPhone, iPad, or Mac computer, new models start at a high price then work their way down as newer models are introduced. Apple initially uses a strategy.
(34) Los Amigos, a new Mexican restaurant, has set up shop across the street from Hot Tamales and More. Which of the following pricing strategies will Los Amigos likely use?
(41) The St. Jacobs Farmers' Market in Woolwich Ontario features many vendors often selling the same produce. On any Saturday in the early autumn, 20 or more apple vendors are present. This is an example of an oligopoly.
(37) How do firms that use captive-product pricing make up for the low prices of their main products?
(43) Rent, electricity, and executive salaries that do not vary with production or sales level are referred to as costs.
(35) Which of the following would most likely trigger a price increase?
(34) Federal legislation on price-fixing states that sellers must set prices after talking to customers and competitors.
(27) Which of the following pricing strategies charges the same price plus freight to all customers, regardless of their location?
(31) In , the market consists of many buyers and sellers trading in a uniform commodity, such as wheat, copper, or financial securities.
(32) Which of the following sets the price ceiling for a product's pricing?
(36) In Canada, the Competition Act is a federal law that was created to curb the formation of .
(38) 
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