Exam 8: Value Through Pricing

Competitor-oriented pricing may take any of three forms, namely, where firms follow the prices charged by leading competitors, where producers take the going rate price or where contracts are awarded through a competitive bidding process.

While most firms seek to standardize as many elements of the marketing mix as possible when operating internationally, pricing is one of the most difficult to standardize due to _______.

Price may be a core value proposition offered by some businesses. In these cases, organizations employ a combination of cost management, yield management and _______ pricing.

Trade-off analysis is also known as which of the following?

When companies set their prices at levels either above, the same as or below their competitors, this is called?

Competitive price increases are more likely to be followed by a company when _______.

Which of the following tactics may indicate a price increase?

Which of the following is the most criticized ethical issue affecting pricing?

Competitive price decreases are more likely to be ignored by a company when _______.

Which of the following is not used in the calculation of cost-based pricing?

Competitor-orientated pricing is risky where a firm's cost position is stronger than its competitors.

Low-cost airlines have been significant users of _______ pricing, where the prices are not the same as they may first appear.

Low cost service businesses such as travel and hotel accommodation, use yield management to frequently adjust the price of a product in response to various market factors, such as _______ and competition.

A key reason for the success of many low-cost operators is their flexible approach to pricing, which is known as _______ pricing.

Companies usually "benchmark" their prices against which of the following?

Which of the following is helping to depress price levels?

Which of the following circumstances may indicate a price increase?

When a company offers low prices, it may mean that profit margins may be tight, unless firms can find ways to drive their _______ base down or find additional product or service elements that they can charge handsomely for.

It is sensible for a company to adopt an integrated approach to pricing, paying attention not only to customer needs but also to cost levels and competitor prices.

Competitive price decreases are more likely to be followed by a company when _______.