Question 1

A problem associated with ____ is that consumers can predict when prices will be lowered and delay purchases until that time.

Accepted Answer

A) random discounting 
B) penetration pricing 
C) reference pricing 
D) everyday low pricing 
E) periodic discounting 
A) random discounting 
B) penetration pricing 
C) reference pricing 
D) everyday low pricing 
E) periodic discounting

Question 2

Wet Seal, a retailer of swimwear, employs a commonly used cost-based pricing method called

Accepted Answer

A) value pricing. 
B) cost-plus pricing. 
C) cost discounting. 
D) differential pricing. 
E) markup pricing. 
A) value pricing. 
B) cost-plus pricing. 
C) cost discounting. 
D) differential pricing. 
E) markup pricing.

Question 3

A psychological price is designed to encourage purchases on the basis of rational response rather than on the basis of emotional reactions.

Accepted Answer

A) True 
 B)False

Question 4

Marketers at organizations engaged in nonprice competition

Accepted Answer

A) are more concerned about knowing competitors' prices than are marketers in organizations that are engaged in price competition. 
B) are not concerned about the prices of competing brands. 
C) need competitive price information to make sure that their products are priced at approximately the same level as the prices of competing brands. 
D) rely on customers to help them gather information regarding the prices of competing brands. 
E) experience high levels of price instability. 
A) are more concerned about knowing competitors' prices than are marketers in organizations that are engaged in price competition. 
B) are not concerned about the prices of competing brands. 
C) need competitive price information to make sure that their products are priced at approximately the same level as the prices of competing brands. 
D) rely on customers to help them gather information regarding the prices of competing brands. 
E) experience high levels of price instability.

Question 5

In some cases, prices are assigned to goods on the basis of nothing more than custom.

Accepted Answer

A) True 
 B)False

Question 6

Showing a product's price along with its previous price, the price of a competing brand, or the price at another retail outlet is called

Accepted Answer

A) competition-based pricing. 
B) reference pricing. 
C) comparison discounting. 
D) captive pricing. 
E) psychological pricing. 
A) competition-based pricing. 
B) reference pricing. 
C) comparison discounting. 
D) captive pricing. 
E) psychological pricing.

A problem associated with ____ is that consumers can predict when prices will be lowered and delay purchases until that time.

Wet Seal, a retailer of swimwear, employs a commonly used cost-based pricing method called

A psychological price is designed to encourage purchases on the basis of rational response rather than on the basis of emotional reactions.

Marketers at organizations engaged in nonprice competition

In some cases, prices are assigned to goods on the basis of nothing more than custom.

Showing a product's price along with its previous price, the price of a competing brand, or the price at another retail outlet is called

An Overview of Strategic Marketing

Planning Implementing and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets: Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts

Developing and Managing Products

Services Marketing

Branding and Packaging

Marketing Channels and Supply Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Filters

Exam 21: Setting Prices

A problem associated with ____ is that consumers can predict when prices will be lowered and delay purchases until that time.

Wet Seal, a retailer of swimwear, employs a commonly used cost-based pricing method called

A psychological price is designed to encourage purchases on the basis of rational response rather than on the basis of emotional reactions.

Marketers at organizations engaged in nonprice competition

In some cases, prices are assigned to goods on the basis of nothing more than custom.

Showing a product's price along with its previous price, the price of a competing brand, or the price at another retail outlet is called

An Overview of Strategic Marketing

Planning Implementing and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets: Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts

Developing and Managing Products

Services Marketing

Branding and Packaging

Marketing Channels and Supply Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Filters