Filters
Question type
Study Flashcards

Newsweek ran a pricing experiment that involved setting different prices for its magazine in different cities and counting the number of units sold. After adjusting for factors like the population of the different cities, Newsweek could plot these prices and units to result in a:


A) demand curve.
B) target return curve.
C) consumer tastes curve.
D) unit volume curve.

Correct Answer

verifed

verified

You are president of a manufacturing unit of small electronic appliances. You want to reduce your break-even quantity. Other things equal, you can do this by:


A) reducing marginal revenue.
B) increasing fixed cost.
C) increasing the quantity sold, while keeping price unchanged.
D) reducing unit variable cost.

Correct Answer

verifed

verified

The pricing model in your text, has six distinct steps in the pricing process. Considering the following list of steps in setting prices: identify pricing objectives and constraints; estimate demand and revenue; determine cost, volume, and profit relationships; _______; set the list or quoted price; and make special adjustments to the list or quoted price.


A) raise initial capital
B) select an approximate price level
C) scan competitors for price lines of similar products or services
D) select the appropriate pricing formula

Correct Answer

verifed

verified

What is predatory pricing?

Correct Answer

verifed

verified

Predatory pricing is the pract...

View Answer

Rents, executive salaries, and insurance are examples of typical:


A) fixed costs.
B) variable costs.
C) dividends.
D) liquidity payments.

Correct Answer

verifed

verified

Prices such as: $19.99, $29.99, and $39.99 are examples of:


A) incremental pricing
B) odd-even pricing
C) target pricing
D) range-based pricing

Correct Answer

verifed

verified

Most consumers realize the quality of diamonds varies, and most believe the higher the price of the diamond, the higher its quality. This is an example of price influencing the perception of overall quality, and_________ to consumers.


A) acceptable cost
B) return on investment
C) value
D) perceptual investment

Correct Answer

verifed

verified

Charging different prices to maximize revenue for a set amount of capacity at any given time is referred to as:


A) Demand backward pricing
B) Skimming pricing
C) Target pricing
D) Yield management pricing

Correct Answer

verifed

verified

Geographic adjustments are made by manufacturers or wholesalers to:


A) cover transportation costs.
B) cover promotional costs.
C) cover production costs.
D) cover administrative costs.

Correct Answer

verifed

verified

The three special adjustments to list or quoted price are:


A) discounts; allowances; geographical adjustments
B) discounts; allowances; seasonal
C) seasonal; allowances; geographical adjustments
D) discounts; seasonal; geographical adjustments

Correct Answer

verifed

verified

When Panera Bread opened Panera Cares Cafes, they implemented a pricing model that allowed consumers to pay what they wished for their items. The goal of this cafe was to still be:


A) profit maximizing
B) profit minimizing
C) self-sustaining
D) a charity service

Correct Answer

verifed

verified

Which of the following statements about geographical adjustments to price is correct?


A) Multiple-zone pricing is sometimes referred to as "postage-stamp" pricing.
B) In FOB origin pricing, the seller selects the mode of transportation.
C) Basing point pricing seems to have been used in industries where freight expenses are a significant part of the total cost to the buyer.
D) In FOB with freight allowed pricing, the seller adds the transportation costs to the list price.

Correct Answer

verifed

verified

When setting the prices for their smart TVs, VIZIO based its pricing strategy on:


A) Copying Sony's winning strategy
B) Distributing with Costco and Sam's Club warehouses
C) Affordable products with innovative features
D) High-end features, high-end price

Correct Answer

verifed

verified

GE has fixed costs of $13B and variable costs for the year of $8B. Their total costs are:


A) $5B
B) $21B
C) $13B
D) there is not enough information to calculate

Correct Answer

verifed

verified

List four key factors used to estimate demand.

Correct Answer

verifed

verified

Chico's sells women's sportswear. A simple tank top with the Chico's label costs $48. If you know you simply want a tank top, you can buy a tank top for $5 at a Family Dollar Store, but it won't have the Chico's label. What kind of demand-oriented approach to pricing is being used by this manufacturer?


A) prestige pricing
B) experience curve pricing
C) target market share pricing
D) demand-backward pricing

Correct Answer

verifed

verified

For every ten pallets of watermelon a local grocery store purchases, the farm will include one pallet of cucumbers for free. This is an example of offering a(n) :


A) flexible pricing policy.
B) quantity discount.
C) promotional allowance.
D) payoff.

Correct Answer

verifed

verified

All of the following statements about the Competition Act are true, except:


A) The Competition Act covers promotional allowances.
B) The Competition Act allows price differentials to different customers under certain changing market conditions.
C) It is easy to prove that price discrimination under the Competition Act has taken place.
D) The Competition Act deals with price discrimination.

Correct Answer

verifed

verified

Manufacturers use seasonal discounts to:


A) "load up" their dealers.
B) rid themselves of dated merchandise.
C) entice dealers to purchase seasonal merchandise earlier in the selling season.
D) prolong the peak seasonal selling season.

Correct Answer

verifed

verified

Which of the following types of competitive markets is LEAST likely to need pricing objectives?


A) pure monopoly
B) pure competition
C) oligopoly
D) monopolistic competition

Correct Answer

verifed

verified

Showing 61 - 80 of 280

Related Exams

Exam 1

Creating Customer Value, Relationships, and Experiences Through Marketing

197 Questions

Exam 2

Developing Successful Marketing Strategies

205 Questions

Exam 3

Scanning the Marketing Environment

212 Questions

Exam 4

Ethics and Social Responsibility for Sustainable Marketing

159 Questions

Exam 5

Consumer Behaviour

222 Questions

Exam 6

Understanding Organizations As Customers

178 Questions

Exam 7

Reaching Global Markets

217 Questions

Exam 8

Marketing Research: From Information to Action

134 Questions

Exam 9

Market Segmentation, Targeting, and Positioning

221 Questions

Exam 10

Developing New Products and Services

221 Questions

Exam 11

Managing Products and Brands

240 Questions

Exam 12

Managing Services

132 Questions

Exam 14

Managing Marketing Channels and Supply Chains

282 Questions

Exam 15

Retailing

204 Questions

Exam 16

Integrated Marketing Communications and Direct Marketing

211 Questions

Exam 17

Advertising, Sales Promotion, and Public Relations

214 Questions

Exam 18

Personal Selling and Sales Management

211 Questions

Exam 19

Pulling It All Together: the Strategic Marketing Process

199 Questions

Exam 20

Using Social Media and Mobile Marketing to Connect With Consumers

163 Questions

Show Answer