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Exam 11: Pricing

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Question 51

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Companies that market their products internationally must decide what prices to charge in the different countries in which they operate.In some cases,a company can set a uniform worldwide price.Discuss the factors that influence international pricing.

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Most companies adjust their prices to re...

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Question 52

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The _______ for prices is how consumer perceive a product's value.

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Question 53

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In industrial markets,________ typically has the final say in setting the pricing objectives and policies of a company.

Break-even pricing,or a variation called ________,is when the firm tries to determine the price at which it will break even or make the profit it is seeking.

The relationship between the price charged and the resulting demand level can be shown as the ________.

Product costs set a floor to the price; consumer perceptions of the product's value set the ceiling.

As a manufacturer decreases price,________ volume increases.

A company's sales will ________ if a seller charges ________ than the buyer's perceived value.

When prices are based on the costs for producing,distributing,and selling the product plus a fair rate of return for the company's efforts and risks,this is called __________ pricing.

Prices have a direct impact on a company's bottom line.

Department stores such as Sears and The Bay practise _________ by having frequent sales days,early-bird savings,and bonus earnings for store credit-card holders.

Wherever possible,a company should consider ways to meet higher costs or demand by raising prices.

As a manufacturer increases price,the ________ drops.

Trader Joe's offers an assortment of exclusive gourmet products at impossibly low prices.These prices are not limited-time offers or special discounts.Instead,they reflect Trader Joe's ________ strategy.

Why is price considered to be one of the most flexible elements of the marketing mix?

Costs that vary directly with the level of production are referred to as ________.

Measuring ________ can be difficult.A company might conduct surveys or experiments to test this in the different products they offer.

With a higher volume of product,most companies can expect to ________.

Cost-based pricing relies on consumer perception of value to drive pricing.

In a pure monopoly,the market consists of one seller.