Question 1

Maintaining or increasing market share

Accepted Answer

A)  can be achieved even if industry sales are flat or decreasing.
B)  is an infrequently used pricing objective in most industries.
C)  depends upon the overall growth of the total industry.
D)  is a profit-related objective based on price.
E)  is directly tied to leading an industry in product quality.F) A) and B)
G) A) and C)

Question 2

Which of the following statements is true about the determination of a specific price for a product? ​

Accepted Answer

A)  Price elasticity is not relevant when determining a specific price.
B)  It occurs in the fifth stage of the price setting process.
C)  Only fixed costs should be considered when setting the specific price.
D)  When no government controls exist, pricing is a flexible way to adjust the marketing mix.
E)  Demand is not a consideration when establishing a specific price.F) A) and B)
G) C) and D)

Question 3

How might a marketer find information about a competitor's prices? Why is this information important?

Accepted Answer

In most cases, marketers are in a better...

Question 4

Price leaders, comparison discounting, and special-event pricing are applications of

Accepted Answer

A)  psychological pricing.
B)  professional pricing.
C)  product-line pricing.
D)  bait-and-switch.
E)  promotional pricing.F) A) and B)
G) C) and D)

Question 5

Under Armour is establishing a ______ pricing objective to maintain or increase its product's sales in relation to total industry sales.

Accepted Answer

A)  Return on investment
B)  Survival
C)  Product quality
D)  Market share
E)  Status quoF) A) and D)
G) All of the above

Question 6

If an organization sets prices to recover research and development expenses and establish a premium quality image for its product, it would be using a ____ pricing objective.

Accepted Answer

A)  survival
B)  return on investment
C)  market share
D)  product quality
E)  cash flowF) C) and D)
G) C) and E)

Question 7

A price-leader approach is a pricing approach most often used in supermarkets to attract consumers by giving them special low prices on a few items.

Accepted Answer

A) True 
 B)False

Question 8

The pricing strategy that assumes that demand is relatively inelastic over certain price ranges is called

Accepted Answer

A)  price lining.
B)  odd-even pricing.
C)  price skimming.
D)  prestige pricing.
E)  customary pricing.F) C) and E)
G) B) and D)

Question 9

Which of the following would be used in setting the price of a new product if considerable competition is expected?

Accepted Answer

A)  Psychological pricing
B)  Penetration pricing
C)  Odd-even pricing
D)  Price skimming
E)  Prestige pricingF) C) and D)
G) B) and C)

Question 10

One pitfall of cost-plus pricing for the buyer is that the seller may increase costs to establish a larger profit base.

Accepted Answer

A) True 
 B)False

Question 11

Competitors' prices, along with the marketing variables they emphasize, are determining factors in

Accepted Answer

A)  the instability of prices in a particular industry.
B)  using markup pricing for consumer goods.
C)  how much marketing research a firm needs to collect.
D)  using differential pricing to demonstrate quality differences.
E)  how important price will be to customers.F) A) and B)
G) C) and D)

Question 12

The "White Sale" that many department stores have every year a few weeks after Christmas is an example of

Accepted Answer

A)  secondary pricing.
B)  off-peak pricing.
C)  periodic discounting.
D)  random discounting.
E)  captive pricing.F) A) and C)
G) A) and B)

Question 13

When Gabriella logs on to Dell's website, she sees a notebook model priced well below $1,000. As she continues through the site to view the other options, she realizes the first one she saw was the cheapest model available, but she of course wants more features. Dell is utilizing

Accepted Answer

A)  bait and switch.
B)  price lining.
C)  captive pricing.
D)  penetration pricing.
E)  bait pricing.F) B) and E)
G) B) and C)

Exam 20: Setting Prices

One pitfall of cost-plus pricing for the buyer is that the seller may increase costs to establish a larger profit base.

Correct Answer
verified

Competitors' prices, along with the marketing variables they emphasize, are determining factors in

Correct Answer
verified

The pricing strategy that assumes that demand is relatively inelastic over certain price ranges is called

Correct Answer
verified

Which of the following statements is true about the determination of a specific price for a product?

Correct Answer
verified

The "White Sale" that many department stores have every year a few weeks after Christmas is an example of

Correct Answer
verified

Which of the following would be used in setting the price of a new product if considerable competition is expected?

Correct Answer
verified

If an organization sets prices to recover research and development expenses and establish a premium quality image for its product, it would be using a ____ pricing objective.

Correct Answer
verified

Price leaders, comparison discounting, and special-event pricing are applications of

Correct Answer
verified

A price-leader approach is a pricing approach most often used in supermarkets to attract consumers by giving them special low prices on a few items.

Correct Answer
verified

When Gabriella logs on to Dell's website, she sees a notebook model priced well below $1,000. As she continues through the site to view the other options, she realizes the first one she saw was the cheapest model available, but she of course wants more features. Dell is utilizing

Correct Answer
verified

Under Armour is establishing a ______ pricing objective to maintain or increase its product's sales in relation to total industry sales.

Correct Answer
verified

How might a marketer find information about a competitor's prices? Why is this information important?

Correct Answer
verified
In most cases, marketers are in a better...
View Answer

Maintaining or increasing market share

Correct Answer
verified

Exam 20: Setting Prices

One pitfall of cost-plus pricing for the buyer is that the seller may increase costs to establish a larger profit base.

Correct AnswerverifiedShow Answer

Competitors' prices, along with the marketing variables they emphasize, are determining factors in

Correct AnswerverifiedShow Answer

The pricing strategy that assumes that demand is relatively inelastic over certain price ranges is called

Correct AnswerverifiedShow Answer

Which of the following statements is true about the determination of a specific price for a product? ​

Correct AnswerverifiedShow Answer

The "White Sale" that many department stores have every year a few weeks after Christmas is an example of

Correct AnswerverifiedShow Answer

Which of the following would be used in setting the price of a new product if considerable competition is expected?

Correct AnswerverifiedShow Answer

If an organization sets prices to recover research and development expenses and establish a premium quality image for its product, it would be using a ____ pricing objective.

Correct AnswerverifiedShow Answer

Price leaders, comparison discounting, and special-event pricing are applications of

Correct AnswerverifiedShow Answer

A price-leader approach is a pricing approach most often used in supermarkets to attract consumers by giving them special low prices on a few items.

Correct AnswerverifiedShow Answer

When Gabriella logs on to Dell's website, she sees a notebook model priced well below $1,000. As she continues through the site to view the other options, she realizes the first one she saw was the cheapest model available, but she of course wants more features. Dell is utilizing

Correct AnswerverifiedShow Answer

Under Armour is establishing a ______ pricing objective to maintain or increase its product's sales in relation to total industry sales.

Correct AnswerverifiedShow Answer

How might a marketer find information about a competitor's prices? Why is this information important?

Correct AnswerverifiedIn most cases, marketers are in a better...View AnswerShow Answer

Maintaining or increasing market share

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Which of the following statements is true about the determination of a specific price for a product?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
In most cases, marketers are in a better...
View Answer

Correct Answer
verified