Question 1

Value is only implicitly considered in customer-oriented strategies.

Accepted Answer

A) True 
 B)False  False

Question 2

A furniture manufacturing company in Canada delivers goods to its customers in Europe.The shipping company that delivers the goods to customers charges the same irrespective of the country in which the customer is located.This is an example of:

Accepted Answer

A)  geographic pricing. 
B)  price bundling. 
C)  price lining. 
D)  leader pricing. 
E)  uniform delivered pricing. 
A)  geographic pricing. 
B)  price bundling. 
C)  price lining. 
D)  leader pricing. 
E)  uniform delivered pricing. E

Question 3

Leader pricing is an illegal attempt to increase store traffic by pricing a regularly purchased item much higher than the store's cost.

Accepted Answer

A) True 
 B)False  False

Question 4

Explain how the economic environment influences pricing.

Accepted Answer

The economic environment at local,region

Question 5

Price is the only element of the marketing mix that generates revenue.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following occurs when only one firm provides the product or service in a particular industry?

Accepted Answer

A)  Duopoly 
B)  Monopsony 
C)  Oligopoly 
D)  Monopoly 
E)  Oligopsony 
A)  Duopoly 
B)  Monopsony 
C)  Oligopoly 
D)  Monopoly 
E)  Oligopsony

Question 7

A pricing strategy that relies on the promotion of sales,during which prices are temporarily reduced to encourage purchases,is called:

Accepted Answer

A)  everyday low pricing. 
B)  price skimming. 
C)  high/low pricing. 
D)  market penetration pricing. 
E)  odd pricing. 
A)  everyday low pricing. 
B)  price skimming. 
C)  high/low pricing. 
D)  market penetration pricing. 
E)  odd pricing.

Question 8

A home decor company in the United States delivers goods to its customers in Europe.The shipping company that delivers the goods to the customers has divided the continent into five different zones and charges according to the rate prevalent in each of these zones.This is an example of:

Accepted Answer

A)  geographic pricing. 
B)  price bundling. 
C)  price lining. 
D)  leader pricing. 
E)  uniform delivered pricing. 
A)  geographic pricing. 
B)  price bundling. 
C)  price lining. 
D)  leader pricing. 
E)  uniform delivered pricing.

Question 9

The fall in the price of coffee in the market led to a fall in the demand for tea.In this context,coffee and tea are examples of:

Accepted Answer

A)  substitute products. 
B)  complementary products. 
C)  luxury products. 
D)  convenience products. 
E)  standard products. 
A)  substitute products. 
B)  complementary products. 
C)  luxury products. 
D)  convenience products. 
E)  standard products.

Question 10

For price skimming to work,the product or service must offer consumers new benefits currently unavailable in alternative products.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following,when presented by a consumer,provides him or her instant savings?

Accepted Answer

A)  Rebates 
B)  Size discounts 
C)  Odd prices 
D)  Coupons 
E)  Cumulative quantity discounts 
A)  Rebates 
B)  Size discounts 
C)  Odd prices 
D)  Coupons 
E)  Cumulative quantity discounts

Question 12

Blue Corp.,a company that manufactures high quality mobile phones,is set to launch a new series of tablets.In order to reduce competition and increase the demand for the new products,the company launches them at a very low price.Blue's objective is most likely to be:

Accepted Answer

A)  sales orientation. 
B)  customer orientation. 
C)  profit orientation. 
D)  quality orientation. 
E)  competitor orientation. 
A)  sales orientation. 
B)  customer orientation. 
C)  profit orientation. 
D)  quality orientation. 
E)  competitor orientation.

Question 13

A company objective that is based on the premise that the firm should measure itself primarily against its rivals is:

Accepted Answer

A)  sales oriented. 
B)  customer oriented. 
C)  profit oriented. 
D)  cost oriented. 
E)  competitor oriented. 
A)  sales oriented. 
B)  customer oriented. 
C)  profit oriented. 
D)  cost oriented. 
E)  competitor oriented.

Question 14

Those products whose demand curves are positively related,such that they rise or fall together,are called:

Accepted Answer

A)  substitute products. 
B)  complementary products. 
C)  inverse products. 
D)  convenience products. 
E)  prestige products. 
A)  substitute products. 
B)  complementary products. 
C)  inverse products. 
D)  convenience products. 
E)  prestige products.

Question 15

Lee's offer of customized men's T-shirts for $11.99 is an example of:

Accepted Answer

A)  rebates. 
B)  size discounts. 
C)  markdowns. 
D)  odd prices. 
E)  quality discounts. 
A)  rebates. 
B)  size discounts. 
C)  markdowns. 
D)  odd prices. 
E)  quality discounts.

Question 16

Briefly explain reference price and external reference price.

Accepted Answer

A reference price is the price against w

Question 17

A company prices its shoes at $74.99 instead of $75.00.This is an example of a(n):

Accepted Answer

A)  seasonal discount. 
B)  advertising allowance. 
C)  odd price. 
D)  listing allowance. 
E)  cash discount. 
A)  seasonal discount. 
B)  advertising allowance. 
C)  odd price. 
D)  listing allowance. 
E)  cash discount.

Question 18

Demand curves are downward sloping for prestige products.

Accepted Answer

A) True 
 B)False

Question 19

Megan was an assistant manager in a firm when she had bought a Hyundai Accent L hatchback.After she was promoted to the position of a senior manager with a big pay raise,she bought a Volvo S80.This is an example of the:

Accepted Answer

A)  substitution effect. 
B)  pricing effect. 
C)  supply effect. 
D)  demand effect. 
E)  income effect. 
A)  substitution effect. 
B)  pricing effect. 
C)  supply effect. 
D)  demand effect. 
E)  income effect.

Question 20

A car company introduces a new car in the market.It maintains a low introductory price to reach the middle-income group.The main objective of the company is to build sales and profits quickly.This is an example of:

Accepted Answer

A)  everyday low pricing. 
B)  external reference price. 
C)  high/low pricing. 
D)  market penetration pricing. 
E)  internal reference price. 
A)  everyday low pricing. 
B)  external reference price. 
C)  high/low pricing. 
D)  market penetration pricing. 
E)  internal reference price.

Value is only implicitly considered in customer-oriented strategies.

A furniture manufacturing company in Canada delivers goods to its customers in Europe.The shipping company that delivers the goods to customers charges the same irrespective of the country in which the customer is located.This is an example of:

Leader pricing is an illegal attempt to increase store traffic by pricing a regularly purchased item much higher than the store's cost.

Explain how the economic environment influences pricing.

Price is the only element of the marketing mix that generates revenue.

Which of the following occurs when only one firm provides the product or service in a particular industry?

A pricing strategy that relies on the promotion of sales,during which prices are temporarily reduced to encourage purchases,is called:

A home decor company in the United States delivers goods to its customers in Europe.The shipping company that delivers the goods to the customers has divided the continent into five different zones and charges according to the rate prevalent in each of these zones.This is an example of:

The fall in the price of coffee in the market led to a fall in the demand for tea.In this context,coffee and tea are examples of:

For price skimming to work,the product or service must offer consumers new benefits currently unavailable in alternative products.

Which of the following,when presented by a consumer,provides him or her instant savings?

Blue Corp.,a company that manufactures high quality mobile phones,is set to launch a new series of tablets.In order to reduce competition and increase the demand for the new products,the company launches them at a very low price.Blue's objective is most likely to be:

A company objective that is based on the premise that the firm should measure itself primarily against its rivals is:

Those products whose demand curves are positively related,such that they rise or fall together,are called:

Lee's offer of customized men's T-shirts for $11.99 is an example of:

Briefly explain reference price and external reference price.

A company prices its shoes at $74.99 instead of $75.00.This is an example of a(n):

Demand curves are downward sloping for prestige products.

Megan was an assistant manager in a firm when she had bought a Hyundai Accent L hatchback.After she was promoted to the position of a senior manager with a big pay raise,she bought a Volvo S80.This is an example of the:

A car company introduces a new car in the market.It maintains a low introductory price to reach the middle-income group.The main objective of the company is to build sales and profits quickly.This is an example of:

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Marketing Ethics

Analyzing the Market Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters

Exam 11: Developing New Products

Value is only implicitly considered in customer-oriented strategies.

A furniture manufacturing company in Canada delivers goods to its customers in Europe.The shipping company that delivers the goods to customers charges the same irrespective of the country in which the customer is located.This is an example of:

Leader pricing is an illegal attempt to increase store traffic by pricing a regularly purchased item much higher than the store's cost.

Explain how the economic environment influences pricing.

Price is the only element of the marketing mix that generates revenue.

Which of the following occurs when only one firm provides the product or service in a particular industry?

A pricing strategy that relies on the promotion of sales,during which prices are temporarily reduced to encourage purchases,is called:

A home decor company in the United States delivers goods to its customers in Europe.The shipping company that delivers the goods to the customers has divided the continent into five different zones and charges according to the rate prevalent in each of these zones.This is an example of:

The fall in the price of coffee in the market led to a fall in the demand for tea.In this context,coffee and tea are examples of:

For price skimming to work,the product or service must offer consumers new benefits currently unavailable in alternative products.

Which of the following,when presented by a consumer,provides him or her instant savings?

Blue Corp.,a company that manufactures high quality mobile phones,is set to launch a new series of tablets.In order to reduce competition and increase the demand for the new products,the company launches them at a very low price.Blue's objective is most likely to be:

A company objective that is based on the premise that the firm should measure itself primarily against its rivals is:

Those products whose demand curves are positively related,such that they rise or fall together,are called:

Lee's offer of customized men's T-shirts for $11.99 is an example of:

Briefly explain reference price and external reference price.

A company prices its shoes at $74.99 instead of $75.00.This is an example of a(n):

Demand curves are downward sloping for prestige products.

Megan was an assistant manager in a firm when she had bought a Hyundai Accent L hatchback.After she was promoted to the position of a senior manager with a big pay raise,she bought a Volvo S80.This is an example of the:

A car company introduces a new car in the market.It maintains a low introductory price to reach the middle-income group.The main objective of the company is to build sales and profits quickly.This is an example of:

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Marketing Ethics

Analyzing the Market Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters