Ch. 10 Quiz Flashcards Quizlet PDF

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Marketing reviewer flashcards in MKT 1143 Lambton...

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Ch. 10 Quiz Terms in this set (25) Which of the following pricing tactics

E

is used when price reductions are offered only during a certain time of the year? A. Quantity discounts B. Price bundling C. Cash discounts D. Trade discounts E. Seasonal discounts

Which of the following refers to an

A

amount added to the cost of a product to create the price at which a channel member will sell the product? A. Markup B. Gross margin C. List price or manufacturer's suggested retail price (MSRP) D. Retailer margin E. Wholesaler margin

In which step of the price planning

D

process does a firm analyze the economy, competition, government regulations, consumer trends, and the internal environment? A. Step 1 B. Step 2 C. Step 3 D. Step 4 E. Step 5

Which of the following refers to a pricing strategy in which the price can easily be adjusted to meet changes in the marketplace? A. Freemium strategy B. Online auctions C. Dynamic pricing D. Internet price discrimination strategy E. Price lining

Ch. 10 Quiz

C

Which of the following refers to an

A

online strategy in which the price can easily be adjusted to meet changes in the marketplace? A. Dynamic pricing B. Internet price discrimination C. Freemium D. Price lining E. Online auctions

Which of the following is a business

D

strategy in which a product in its most basic version is provided free of charge but the company charges money for upgraded versions of the product with more features, greater functionality, or greater capacity? A. Online auctions B. Dynamic pricing C. Price lining D. Freemium pricing E. Internet price discrimination strategy

Which of the following refers to the

E

assignment of value, or the amount the consumer must exchange to receive the offering or product? A. Total cost B. Prestige products C. Market share D. Bitcoin E. Price

Marketers often apply their understanding of the psychological aspects of pricing in a practice they call ________, whereby items in a product line sell at different prices, or price points. A. bait-and-switch B. predatory pricing C. internal reference price D. price fixing E. price lining

Ch. 10 Quiz

E

Which of the following refers to a

D

deceptive pricing tactic in which an advertised price special is used as bait to get customers into the store with the intention of selling them a higherpriced item? A. Predatory pricing B. Surge pricing C. Price fixing D. Bait-and-switch E. Loss-leader pricing

_____ pricing means that the firm

B

charges a high, premium price for its new product with the intention of reducing it in the future in response to market pressures. A. Value B. Skimming C. F.O.B. D. Captive E. Promo

If you see a loaf of bread that is priced

D

at $14.99, your past experience tells you that that price is substantially higher than a normal loaf of bread would be. If you feel that a loaf of bread should be less than $2.00, then this is your _____ price. A. predatory B. variable C. fixed D. internal reference E. premium

Which of the following occurs when two or more companies conspire to keep prices at a certain level? A. Predatory pricing B. Surge pricing C. Bait-and-switch D. Loss-leader pricing E. Price fixing

Ch. 10 Quiz

E

Which of the following refers to the

D

costs of production that fluctuate depending on the number of units produced? A. Markup B. Total cost C. Contribution per unit D. Variable cost E. Fixed cost

_____ means selling two or more goods

C

or services as a single package for one price -- a price that is often less than the total price of the items if bought individually. A. Freight absorption pricing B. F.O.B. delivered pricing C. Price bundling D. Captive pricing E. Uniform delivered pricing

Assume that for a given product, the total fixed costs are $100,000 and the contribution per unit to fixed costs is $50. What is the break-even point expressed in the number of units? A. 999,950 B. 2,000 C. 500,000 D. 100,050 E. 200

B...