Question 1

Wendy's was one of the first fast-food restaurants to offer a "dollar menu" on some of its food items. What pricing policy was Wendy's pursuing?

Accepted Answer

A)  Skimming price 
B)  Quantity discount 
C)  Noncumulative quantity discount 
D)  Value pricing 
E)  Cumulative quantity discount 
A)  Skimming price 
B)  Quantity discount 
C)  Noncumulative quantity discount 
D)  Value pricing 
E)  Cumulative quantity discount

Question 2

Noncumulative quantity discounts are intended to encourage customers to make more of their on-going purchases from the same seller.

Accepted Answer

A) True 
 B)False

Question 3

Which pricing policy is probably "best" for a profit-oriented, low-cost producer who is introducing a new product into a market with elastic demand and is expecting strong competition very soon after product introduction?

Accepted Answer

A)  Skimming pricing 
B)  Introductory price dealing 
C)  Meeting competition pricing 
D)  Penetration pricing 
E)  Status quo pricing 
A)  Skimming pricing 
B)  Introductory price dealing 
C)  Meeting competition pricing 
D)  Penetration pricing 
E)  Status quo pricing

Question 4

A firm that is very concerned about increases in market share should adopt a ______________ pricing objective.

Accepted Answer

A)  profit-oriented 
B)  sales-oriented 
C)  nonprice competition 
D)  status quo 
E)  target return 
A)  profit-oriented 
B)  sales-oriented 
C)  nonprice competition 
D)  status quo 
E)  target return

Question 5

Which of the following do firms using value pricing tend to avoid?

Accepted Answer

A)  Setting a high price only because consumers already know the brand name 
B)  Building a relationship with a customer which raises their expectations 
C)  Delivering unexpected services which haven't been stated to the customer 
D)  Establishing a price level that gives the target market superior customer value 
E)  Focusing on customer requirements and adopting a relevant marketing mix 
A)  Setting a high price only because consumers already know the brand name 
B)  Building a relationship with a customer which raises their expectations 
C)  Delivering unexpected services which haven't been stated to the customer 
D)  Establishing a price level that gives the target market superior customer value 
E)  Focusing on customer requirements and adopting a relevant marketing mix

Wendy's was one of the first fast-food restaurants to offer a "dollar menu" on some of its food items. What pricing policy was Wendy's pursuing?

Noncumulative quantity discounts are intended to encourage customers to make more of their on-going purchases from the same seller.

Which pricing policy is probably "best" for a profit-oriented, low-cost producer who is introducing a new product into a market with elastic demand and is expecting strong competition very soon after product introduction?

A firm that is very concerned about increases in market share should adopt a ______________ pricing objective.

Which of the following do firms using value pricing tend to avoid?

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Market Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotion-Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challe

Filters

Exam 16: Pricing Objectives and Policies

Wendy's was one of the first fast-food restaurants to offer a "dollar menu" on some of its food items. What pricing policy was Wendy's pursuing?

Noncumulative quantity discounts are intended to encourage customers to make more of their on-going purchases from the same seller.

Which pricing policy is probably "best" for a profit-oriented, low-cost producer who is introducing a new product into a market with elastic demand and is expecting strong competition very soon after product introduction?

A firm that is very concerned about increases in market share should adopt a ______________ pricing objective.

Which of the following do firms using value pricing tend to avoid?

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Market Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotion-Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challe

Filters