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Exam 11: Pricing Strategy

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Question 1

Multiple Choice

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Which of the following types of cost-oriented pricing is closely related to markup pricing?

A) Cost-plus pricing
B) Odd pricing
C) Prestige pricing
D) Value pricing

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Question 2

Multiple Choice

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Which of the following is a type of cost-oriented pricing?

A) Odd pricing
B) Bundle pricing
C) Rate-of-return pricing
D) Prestige pricing

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Question 3

Multiple Choice

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_____ is most often used to describe the pricing of services that are nonroutine and difficult to "cost" in advance of their completion.

Which of the following product characteristics that affect pricing typically involves discounting products as they approach being no longer fit for a sale?

Which of the following factors influencing pricing decisions pertains to demand influences for a product?

Jena runs an ice cream cooler at the beach each summer.Her brother does not charge her rent for setting up her ice cream cooler in his stand.Each bar of ice cream costs her $0.20.She adds an additional $0.20 to each bar to pay for electricity for the freezer,napkins,and her time,selling the ice cream finally at $0.40 per bar.Jena uses _____ pricing.

Which of the following is a type of psychological pricing strategy?

Both Tonya and Edna went to buy a black sweater.Edna bought hers from Dillard's for $79.Tonya bought a similar one at Sears and paid $34.95.Edna is convinced her sweater is much superior to Tonya's because it is more expensive.Which of the following is the psychological factor that makes Edna buy such high-priced items?

The pricing strategy in which the seller charges a relatively high price on a new product is called _____.

A gas station in South San Francisco charges $4.29 instead of $4.30 for regular gas and $4.79 instead of $4.80 for premium gas to make the prices look less expensive.This is an example of _____ pricing.

Sporty Inc.manufactures high-end designer sports shoes.The price of its most popular shoe "Fast" went up by 10 percent during the last fiscal year.Sporty sold 50 percent more units of Fast in that time period compared to the year before.Estimate the price elasticity for Fast.

Fone Inc.is about to launch the latest version of its smartphone.As part of its pricing strategy,it is analyzing the economic strength of its potential buyers.Which of the following factors influencing pricing decisions is Fone concerned with?

_____ is an example of pricing below the competition.

Which of the following is an important product consideration in pricing?

Price discrimination that lessens competition or is deemed injurious to it,is outlawed by the _____ Act.

In which stage of the general pricing model do marketers estimate how much of a particular product the target market will purchase at various price levels?

Which of the following is a factor influencing pricing decisions that are relevant to demand influences for a product?

Which of the following is a demographic factor that influences the pricing decision of a product?

Which of the following is true about markup pricing?

A razor manufacturer introduced its new three-blade razor at a very low price to encourage more consumers to purchase it and to discourage competition.This is an example of _____ pricing.