Question 1

Many firms attempt to promote stable prices by meeting competitors' prices and competing for market share by focusing on the nonprice elements of the marketing mix.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is a pricing technique that is used to evaluate consumer demand by comparing the number of products that must be sold at a variety of prices to cover total cost with estimates of expected sales at the various prices?

Accepted Answer

A) Modified breakeven analysis 
B) Cost-plus analysis 
C) Incremental-cost analysis 
D) Segmentation analysis 
A) Modified breakeven analysis 
B) Cost-plus analysis 
C) Incremental-cost analysis 
D) Segmentation analysis

Question 3

The PIMS project revealed that the two most important factors influencing profitability were:

Accepted Answer

A) sales cost and market demand. 
B) product quality and market share. 
C) profit margin and product price. 
D) product price and competition. 
A) sales cost and market demand. 
B) product quality and market share. 
C) profit margin and product price. 
D) product price and competition.

Question 4

You are the marketing manager for a state park conference center.Large conferences are booked more than one year in advance,so you can put together a calendar of scheduled events.Weekends are especially busy times.You have been charged with finding online ways that you can fill the gaps in reservations. ​
Required:
How would you use a recently created online method to increase business during known slow visitor times?​

Accepted Answer

A) ​design an attractive website that lists the recreational features of the park's facilities 
B) ​host an online auction to negotiate prices for weekday stays 
C) ​send an e-mail offering discount prices to conference attendees 
D) ​write a blog that posts interviews with satisfied previous visitors 
E) ​create a short humorous online video and hope it goes viral 
A) ​design an attractive website that lists the recreational features of the park's facilities 
B) ​host an online auction to negotiate prices for weekday stays 
C) ​send an e-mail offering discount prices to conference attendees 
D) ​write a blog that posts interviews with satisfied previous visitors 
E) ​create a short humorous online video and hope it goes viral

Question 5

Explain the two most common cost-oriented pricing procedures: full-cost and incremental-cost.

Accepted Answer

Full-cost pricing uses all relevant vari

Question 6

The term "tariff" refers to the tax exemption granted to domestic producers in order to increase their competitiveness in the international markets.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is employed by theatrical productions when they charge higher prices for their weekend shows than for the shows on weekdays even though the cost of producing the show remains the same on all days?

Accepted Answer

A) Modified breakeven analysis 
B) Yield management 
C) Incremental pricing 
D) Marginal pricing 
A) Modified breakeven analysis 
B) Yield management 
C) Incremental pricing 
D) Marginal pricing

Question 8

Match each item with the correct statement below.
-_____ are taxes levied on the sale of imported goods and services.

Accepted Answer

A) breakeven analysis 
B) tariffs 
C) unfair-trade laws 
D) incremental-cost pricing 
E) profit maximization
F)demand
G)value pricing
H)monopoly
I)elasticity
J)marginal
K)fair-trade laws
L)yield management
M)oligopoly
N)cost-plus pricing
O)full-cost pricing
P)supply
Q)marginal analysis
R)target-return objectives
S)market-share objectives
T)pure competition 
A) breakeven analysis 
B) tariffs 
C) unfair-trade laws 
D) incremental-cost pricing 
E) profit maximization
F)demand
G)value pricing
H)monopoly
I)elasticity
J)marginal
K)fair-trade laws
L)yield management
M)oligopoly
N)cost-plus pricing
O)full-cost pricing
P)supply
Q)marginal analysis
R)target-return objectives
S)market-share objectives
T)pure competition

Question 9

The management at Fries,a potato chips manufacturer,is calculating their quarterly profits.According to the official data,the firm has sold 200,000 units of their chips priced at $2 per unit for the quarter.The firm had spent $100,000 on production,processing and other costs.The profit made by Fries for the quarter is:

Accepted Answer

A) $400,000. 
B) $300,000. 
C) $200,000. 
D) $100,000. 
A) $400,000. 
B) $300,000. 
C) $200,000. 
D) $100,000.

Question 10

Define price.Explain why setting prices can be a difficult process.

Accepted Answer

Price is the exchange value of a good or

Question 11

Which of the following exemplifies a yield management pricing strategy?

Accepted Answer

A) Lowering cab rental rates on weekends compared to weekdays 
B) Introducing a pack of oatmeal breakfast cereals at a price of $3 which actually cost $5 
C) Charging an exorbitant price for a designer outfit to signal quality and exclusiveness 
D) Selling a brand of soap at 20 percent discount for a limited time period during its introductory stage 
A) Lowering cab rental rates on weekends compared to weekdays 
B) Introducing a pack of oatmeal breakfast cereals at a price of $3 which actually cost $5 
C) Charging an exorbitant price for a designer outfit to signal quality and exclusiveness 
D) Selling a brand of soap at 20 percent discount for a limited time period during its introductory stage

Question 12

Every "regulatory" price increase is a tax.

Accepted Answer

A) True 
 B)False

Question 13

The two most common cost-oriented pricing procedures are the full-cost method and the incremental- cost method.

Accepted Answer

A) True 
 B)False

Question 14

Match each item with the correct statement below.
-The practice of adding a percentage of specified dollar amount-or markup-to the base cost of a product to cover unassigned costs and to provide a profit is known as _____.

Accepted Answer

A) breakeven analysis 
B) tariffs 
C) unfair-trade laws 
D) incremental-cost pricing 
E) profit maximization
F)demand
G)value pricing
H)monopoly
I)elasticity
J)marginal
K)fair-trade laws
L)yield management
M)oligopoly
N)cost-plus pricing
O)full-cost pricing
P)supply
Q)marginal analysis
R)target-return objectives
S)market-share objectives
T)pure competition 
A) breakeven analysis 
B) tariffs 
C) unfair-trade laws 
D) incremental-cost pricing 
E) profit maximization
F)demand
G)value pricing
H)monopoly
I)elasticity
J)marginal
K)fair-trade laws
L)yield management
M)oligopoly
N)cost-plus pricing
O)full-cost pricing
P)supply
Q)marginal analysis
R)target-return objectives
S)market-share objectives
T)pure competition

Question 15

Danielle and her roommate Sile are comparing the charges on their telephone bills.Both women get their Internet service bundled with their mobile phone charges.Danielle has a smartphone and Sile has a device with only basic features,so Danielle pays more for data downloading.Both women were surprised at the significant amount they are each charged annually for "regulatory cost recovery fees." ​
​Required:
What service is included in "regulatory cost recovery fees"?

Accepted Answer

A) ​Improvement to increase the speed of Internet downloading is included. 
B) ​Erection of more rural cell phone relay towers is included. 
C) ​Outreach to other telephone providers to share facilities is included. 
D) ​No service is included; fees are additional telephone company revenue. 
E) ​Collaboration with federal, state, and local regulators is included. 
A) ​Improvement to increase the speed of Internet downloading is included. 
B) ​Erection of more rural cell phone relay towers is included. 
C) ​Outreach to other telephone providers to share facilities is included. 
D) ​No service is included; fees are additional telephone company revenue. 
E) ​Collaboration with federal, state, and local regulators is included.

Question 16

What are some of the organizational goals that pricing strategies can help not-for-profit organizations achieve?

Accepted Answer

Some of the organizational goals that pr

Question 17

​State University recently announced a plan to increase tuition.As president of the student government,you feel obligated to protest.Luckily,before emailing a statement to the board of trustees,you asked your marketing professor to proofread it.From the sentences below,choose the mistake(s)she caught.

Accepted Answer

A) ​A tuition increase could harm the university by resulting in market suppression. 
B) ​A tuition increase could harm the university by resulting in cost recovery. 
C) ​If the university would reduce tuition instead of increasing it, this would create a market incentive and boost enrollment. 
D) ​We believe the increase is a profit maximization strategy, which is never used by not-for-profit organizations. 
E) ​Price changes are never used by not-for-profit organizations to influence their markets. 
A) ​A tuition increase could harm the university by resulting in market suppression. 
B) ​A tuition increase could harm the university by resulting in cost recovery. 
C) ​If the university would reduce tuition instead of increasing it, this would create a market incentive and boost enrollment. 
D) ​We believe the increase is a profit maximization strategy, which is never used by not-for-profit organizations. 
E) ​Price changes are never used by not-for-profit organizations to influence their markets.

Question 18

_____ is a pricing strategy that allows marketers to vary prices based on such factors as demand,even though the cost of providing those goods or services remains the same.

Accepted Answer

A) Yield management 
B) Modified breakeven technique 
C) Marginal cost pricing 
D) Incremental revenue pricing 
A) Yield management 
B) Modified breakeven technique 
C) Marginal cost pricing 
D) Incremental revenue pricing

Question 19

The increased options available to shoppers combine to create a market characterized by demand elasticity.

Accepted Answer

A) True 
 B)False

Question 20

Economic theory attempts to derive correct equilibrium prices in the marketplace by comparing supply and demand.

Accepted Answer

A) True 
 B)False

Many firms attempt to promote stable prices by meeting competitors' prices and competing for market share by focusing on the nonprice elements of the marketing mix.

Which of the following is a pricing technique that is used to evaluate consumer demand by comparing the number of products that must be sold at a variety of prices to cover total cost with estimates of expected sales at the various prices?

The PIMS project revealed that the two most important factors influencing profitability were:

Explain the two most common cost-oriented pricing procedures: full-cost and incremental-cost.

The term "tariff" refers to the tax exemption granted to domestic producers in order to increase their competitiveness in the international markets.

Which of the following is employed by theatrical productions when they charge higher prices for their weekend shows than for the shows on weekdays even though the cost of producing the show remains the same on all days?

Match each item with the correct statement below. -_____ are taxes levied on the sale of imported goods and services.

Define price.Explain why setting prices can be a difficult process.

Which of the following exemplifies a yield management pricing strategy?

Every "regulatory" price increase is a tax.

The two most common cost-oriented pricing procedures are the full-cost method and the incremental- cost method.

Match each item with the correct statement below. -The practice of adding a percentage of specified dollar amount-or markup-to the base cost of a product to cover unassigned costs and to provide a profit is known as _____.

What are some of the organizational goals that pricing strategies can help not-for-profit organizations achieve?

_____ is a pricing strategy that allows marketers to vary prices based on such factors as demand,even though the cost of providing those goods or services remains the same.

The increased options available to shoppers combine to create a market characterized by demand elasticity.

Economic theory attempts to derive correct equilibrium prices in the marketplace by comparing supply and demand.

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-To-Business B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, wholesalers, and Direct Marketers

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

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Exam 18: Pricing Concepts

Many firms attempt to promote stable prices by meeting competitors' prices and competing for market share by focusing on the nonprice elements of the marketing mix.

Which of the following is a pricing technique that is used to evaluate consumer demand by comparing the number of products that must be sold at a variety of prices to cover total cost with estimates of expected sales at the various prices?

The PIMS project revealed that the two most important factors influencing profitability were:

Explain the two most common cost-oriented pricing procedures: full-cost and incremental-cost.

The term "tariff" refers to the tax exemption granted to domestic producers in order to increase their competitiveness in the international markets.

Which of the following is employed by theatrical productions when they charge higher prices for their weekend shows than for the shows on weekdays even though the cost of producing the show remains the same on all days?

Match each item with the correct statement below. -_____ are taxes levied on the sale of imported goods and services.

Define price.Explain why setting prices can be a difficult process.

Which of the following exemplifies a yield management pricing strategy?

Every "regulatory" price increase is a tax.

The two most common cost-oriented pricing procedures are the full-cost method and the incremental- cost method.

Match each item with the correct statement below. -The practice of adding a percentage of specified dollar amount-or markup-to the base cost of a product to cover unassigned costs and to provide a profit is known as _____.

What are some of the organizational goals that pricing strategies can help not-for-profit organizations achieve?

_____ is a pricing strategy that allows marketers to vary prices based on such factors as demand,even though the cost of providing those goods or services remains the same.

The increased options available to shoppers combine to create a market characterized by demand elasticity.

Economic theory attempts to derive correct equilibrium prices in the marketplace by comparing supply and demand.

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-To-Business B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, wholesalers, and Direct Marketers

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters