Exam 11: Pricing Products and Services

If the CEO of the Clorox Co. were to say, "We want to control 60 percent of the bleach market within the next five years," he would have set a ________ pricing objective.

Controlling agreements between independent buyers and sellers whereby sellers are required to not sell products below a minimum retail price is called

Setting a price to achieve an annual target return-on-investment (ROI) is referred to as

A box of Cascade dishwasher detergent shrink-wrapped with a bottle of Jet Dry is sold for $1.50 less than the regular price of the products sold separately. This is an example of ________ pricing.

Pricing objectives involve

Explain the price equation in the context of a new car purchase.

Several companies produce latex gloves that are used in a variety of different industries. If one of the glove manufacturers decreases its price by just a few percentage points, it will result in a significant increase in quantity demanded. The demand for latex gloves is

Which of the following is a competition-oriented approach to pricing?

Price deals that mislead consumers fall into the category of

The four types of discounts are

A reduction from the list price that a seller gives a buyer as a reward for some activity of the buyer that is favorable to the seller is called

Figure 11-3b -In Figure 11-3b above, the demand curve shifts from D1 to D2. This most likely represents

Setting different prices for products and services depending on individual buyers and purchase situations in light of demand, cost, and competitive factors is referred to as

Price fixing is illegal under the

A price reduction given when a used product is part of the payment on a new product is referred to as a

A Price Premium Marketing Dashboard shows the dollar sales market share for Red Bull to be 38 percent and the unit volume market share to be 33 percent among selected energy drinks. What is the price premium for Red Bull in 2010?

Recently, much of the western United States experienced a drought condition and water usage was restricted in Denver. Yet, even though most people used less water, the price of water did not drop. When the drought was declared over, the water company raised water prices. However, the residents of Denver did not use less water. Here, water is

Basic to setting a product's price is the extent of ________. This information is used in estimating the revenues the firm expects to receive.

Deceptive pricing practices are outlawed by legislation and enforced by which federal agency?

Wrigley introduced a new flavor of Orbit brand sugar-free chewing gum, mint mojito, and its introductory price was low so that it quickly created loyal customers for the flavor. In this example, Wrigley used