Exam 13: Pricing Concepts for Establishing Value

An everyday low pricing strategy stresses the continuity of retail prices:

A gray market employs irregular but not necessarily illegal methods of distributing products.

__________ price fixing occurs when competitors collude to control prices,and __________ price fixing occurs within a marketing channel to control prices passed on to consumers.

Production of the De Lorean car,made famous in the film,"Back to the Future," never got above 25,000 units during its lifetime.Automobile industry analysts estimate that production of a car needs to reach around 300,000 units to achieve the __________,a decrease in unit cost as product volume increases.

Proving that a company has engaged in the deceptive bait and switch practice is easy.

Because there are many firms in monopolistic competition markets:

Bill desperately needed tires for his car,and he found an ad with an incredibly low price.When he got there,he found out that those had been sold out,and he was pressured into buying tires that were more expensive than he wanted.Bill found out later that Marcelo had had the same experience at the store a few weeks earlier.It's quite possible that both Bill and Marcelo had become the victim of a deceptive pricing tactic known as:

Economic conditions cannot be ignored by marketers when setting prices.Among the important domestic economic considerations are:

Managers of Wendy's fast food restaurants keep track of prices at competitors such as McDonald's,Burger King,and Arby's,knowing that a decrease in the prices at these other fast food restaurants will:

If a 1 percent decrease in price results in more than a 1 percent increase in quantity demand,demand is:

If the price for a product increases,the demand for a substitute product will:

Gerald has a number of customers for his lawn care service who never question his bill but expect their lawns to be perfect.These customers do not want low prices,they want:

The __________ occurs when unit cost drops as the quantity sold increases.

Which of the following is most likely to be characterized by pure competition in the United States?

There is an old saying,"If you have to ask the price of a yacht,you cannot afford it." Products like yachts are most likely to be associated with:

Price is often the most challenging of the four Ps to manage,partly because it is often _________________________ in developing marketing strategies.

Mario is the first retailer in town to sell games for Sony's new PlayStation 3 machine.Mario wants to quickly capture as much of the market for the new games as possible.Mario will likely use a __________ pricing strategy.

A "no haggle" pricing policy is a type of __________ pricing strategy.

For marketers to advertise a price as their __________,the Better Business Bureau recommends that at least 50 percent of the sales of a product occur at that price.

Which of the following markets is most likely to be characterized by oligopolistic competition in the United States?