Exam 17: Setting the Right Price

Which of the following phrases accurately describes psychological pricing?

After establishing pricing goals,managers should estimate total revenue at a variety of prices.What should they do next? (Only after performing this task are they are ready to estimate how much profit and how much market share can be earned at each possible price. )

Which of the following is an attempt by the marketing manager to induce store patronage through selling a product near cost or even below cost?

What are consumer penalties? What two reasons do businesses give for requiring consumers to pay them?

When Janeka purchased a pair of walkie-talkies so she could stay in contact with her 10-year-old son when he was playing in the neighbourhood,she noticed that if she mailed the manufacturer a proof-of-purchase and the cash register receipt showing where and when she had purchased the two-way radio system and how much she had paid,she would receive a cheque for $25.What is this $25 an example of?

If your favourite mail-order catalogue lists freight charges according to the dollar amount of merchandise purchased,you know that it is using which of the following pricing?

Which type of discount is a deduction from list prices that is aimed at encouraging customer loyalty?

The first step in setting the right price for a new product is to estimate demand,costs,and profits.

A retail store implements a single-pricing tactic as a way to remove price comparisons from the buyer's decision-making process.

What is escalator pricing?