Exam 11: Pricing Products and Services

When Amazon introduced the Kindle Fire tablet device at $199 while Apple was selling the lowest price iPad for $499, Amazon was using a __________ pricing strategy.

(Multiple Choice)

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Question 41

With a pricing strategy, a price setter stresses the side of the pricing problem.

(Multiple Choice)

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Question 42

Rather than billing clients by the hour, some lawyers and their clients agree on a fixed fee based on expected costs plus an agreed upon level of profit for the law firm. Which pricing approach are they using?

(Multiple Choice)

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Question 43

Four pricing practices are closely scrutinized because of potential unethical or illegal actions. They include: (1) price fixing; (2) price discrimination; (3) deceptive pricing; and (4) __________.

(Multiple Choice)

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Question 44

Odd-even pricing is considered to be a __________ approach to pricing.

(Multiple Choice)

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Question 45

The break-even point (BEP) = [Fixed cost ÷ (__________ - Unit variable cost)].

(Multiple Choice)

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Question 46

Demand factors refer to

(Multiple Choice)

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Question 47

If the CEO of the Clorox Company were to say, "We want to control 60 percent of the bleach market within the next five years," he would have set a __________ pricing objective.

(Multiple Choice)

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Question 48

Forever Quilting is a small company that makes quilting kits priced at $120. The costs of the materials that go into each kit total $45. It costs $5 in labor to assemble a kit. The company has monthly expenses of $1,000 for rent and insurance, $200 for heat and electricity, $500 for advertising, and $4,500 for the monthly salary of its owner. Forever Quilting's unit variable cost for its kits is

(Multiple Choice)

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Question 49

Calculate a firm's total revenue (TR) using the following information: the unit price (P) for a product is $40; the quantity sold (Q) is 2,000; the fixed cost (FC) is $50,000; and the variable cost (VC) is $20,000.

(Multiple Choice)

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Question 50

With a cost-oriented pricing strategy, a price setter stresses the side of the pricing problem and the price is set by looking at .

(Multiple Choice)

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Question 51

-Figure 11-2 above represents the four approaches to selecting an appropriate price level. Box B includes standard markup and cost-plus so it represents which approach?

(Multiple Choice)

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Question 52

-Which of the following statements most likely would account for the shift in the demand curve from D₁ to D₂ shown in Figure 11-3B above?

(Multiple Choice)

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Question 53

While the demand factors of consumer tastes and price and availability of similar products determine what consumers want to buy, consumer income determines

(Multiple Choice)

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(40)

Question 54

A company that manages apartments decides to buy 15 new dishwashers at a list price of $550 each as replacements for a small apartment complex it owns. Because the company is buying more than 10 dishwashers, it is eligible for a $150-per-unit quantity discount. Financing charges total $20 per unit. The company gets $10 per dishwasher for 15 used trade-ins. What is the final price the company will pay for EACH dishwasher?

(Multiple Choice)

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Question 55

The key to setting a final price for a product is finding an approximate price level to use as a reasonable starting point. Four common approaches to selecting an approximate price level are: (1) demand-oriented; (2) __________; (3) profit-oriented; and (4) competition-oriented approaches.

(Multiple Choice)

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Question 56

Which of the following is a demand-oriented approach to pricing?

(Multiple Choice)

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Question 57

A penetration pricing policy is most likely to be effective when

(Multiple Choice)

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Question 58

Describe a profit objective used by many Japanese manufacturing firms.

(Essay)

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Question 59

-Figure 11-3A above shows that when the price for Red Baron frozen cheese pizzas moves from $8 to $6 per unit along the demand curve D₁, the quantity demanded

(Multiple Choice)

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Question 60

Showing 41 - 60 of 407

When Amazon introduced the Kindle Fire tablet device at $199 while Apple was selling the lowest price iPad for $499, Amazon was using a __________ pricing strategy.

With a pricing strategy, a price setter stresses the side of the pricing problem.

Rather than billing clients by the hour, some lawyers and their clients agree on a fixed fee based on expected costs plus an agreed upon level of profit for the law firm. Which pricing approach are they using?

Four pricing practices are closely scrutinized because of potential unethical or illegal actions. They include: (1) price fixing; (2) price discrimination; (3) deceptive pricing; and (4) __________.

Odd-even pricing is considered to be a __________ approach to pricing.

The break-even point (BEP) = [Fixed cost ÷ (__________ - Unit variable cost)].

Demand factors refer to

If the CEO of the Clorox Company were to say, "We want to control 60 percent of the bleach market within the next five years," he would have set a __________ pricing objective.

Calculate a firm's total revenue (TR) using the following information: the unit price (P) for a product is $40; the quantity sold (Q) is 2,000; the fixed cost (FC) is $50,000; and the variable cost (VC) is $20,000.

With a cost-oriented pricing strategy, a price setter stresses the side of the pricing problem and the price is set by looking at .

-Figure 11-2 above represents the four approaches to selecting an appropriate price level. Box B includes standard markup and cost-plus so it represents which approach?

-Which of the following statements most likely would account for the shift in the demand curve from D₁ to D₂ shown in Figure 11-3B above?

While the demand factors of consumer tastes and price and availability of similar products determine what consumers want to buy, consumer income determines

The key to setting a final price for a product is finding an approximate price level to use as a reasonable starting point. Four common approaches to selecting an approximate price level are: (1) demand-oriented; (2) __________; (3) profit-oriented; and (4) competition-oriented approaches.

Which of the following is a demand-oriented approach to pricing?

A penetration pricing policy is most likely to be effective when

Describe a profit objective used by many Japanese manufacturing firms.

-Figure 11-3A above shows that when the price for Red Baron frozen cheese pizzas moves from $8 to $6 per unit along the demand curve D₁, the quantity demanded

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Filters

Exam 11: Pricing Products and Services

When Amazon introduced the Kindle Fire tablet device at $199 while Apple was selling the lowest price iPad for $499, Amazon was using a __________ pricing strategy.

With a __________ pricing strategy, a price setter stresses the __________ side of the pricing problem.

Rather than billing clients by the hour, some lawyers and their clients agree on a fixed fee based on expected costs plus an agreed upon level of profit for the law firm. Which pricing approach are they using?

Four pricing practices are closely scrutinized because of potential unethical or illegal actions. They include: (1) price fixing; (2) price discrimination; (3) deceptive pricing; and (4) __________.

Odd-even pricing is considered to be a __________ approach to pricing.

The break-even point (BEP) = [Fixed cost ÷ (__________ - Unit variable cost)].

Demand factors refer to

If the CEO of the Clorox Company were to say, "We want to control 60 percent of the bleach market within the next five years," he would have set a __________ pricing objective.

Calculate a firm's total revenue (TR) using the following information: the unit price (P) for a product is $40; the quantity sold (Q) is 2,000; the fixed cost (FC) is $50,000; and the variable cost (VC) is $20,000.

With a cost-oriented pricing strategy, a price setter stresses the __________ side of the pricing problem and the price is set by looking at __________.

-Figure 11-2 above represents the four approaches to selecting an appropriate price level. Box B includes standard markup and cost-plus so it represents which approach?

-Which of the following statements most likely would account for the shift in the demand curve from D1 to D2 shown in Figure 11-3B above?

While the demand factors of consumer tastes and price and availability of similar products determine what consumers want to buy, consumer income determines

The key to setting a final price for a product is finding an approximate price level to use as a reasonable starting point. Four common approaches to selecting an approximate price level are: (1) demand-oriented; (2) __________; (3) profit-oriented; and (4) competition-oriented approaches.

Which of the following is a demand-oriented approach to pricing?

A penetration pricing policy is most likely to be effective when

Describe a profit objective used by many Japanese manufacturing firms.

-Figure 11-3A above shows that when the price for Red Baron frozen cheese pizzas moves from $8 to $6 per unit along the demand curve D1, the quantity demanded

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Filters

With a pricing strategy, a price setter stresses the side of the pricing problem.

With a cost-oriented pricing strategy, a price setter stresses the side of the pricing problem and the price is set by looking at .

-Which of the following statements most likely would account for the shift in the demand curve from D₁ to D₂ shown in Figure 11-3B above?

-Figure 11-3A above shows that when the price for Red Baron frozen cheese pizzas moves from $8 to $6 per unit along the demand curve D₁, the quantity demanded