Marketing Chapter 10 Flashcards Quizlet PDF

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Summary

Marketing reviewer flashcards in MKT 1143 Lambton...

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Social Science / Econom cs / Managerial Economics

Marketing Chapter 10 Terms in this set (107)

Opportunity cost

Pricing objectives

Demand

Which of the following represents the value of something we give up when gaining something else?

The first step when planning pricing policies for a good or service is to develop _____.

Which of the following represents the customer's desire for a good or service?

To plan production, marketing, and

Why is it important for organizations to accurately estimate the demand for a

budgets

good or service?

Cost-plus

Value

Which of the following pricing strategies includes expenses tied to a product and a predetermined amount of profit?

Which pricing strategy is practiced by retailers who offer good quality products at reasonable prices?

Which pricing strategy is especially important when selling on the Internet Dynamic pricing

because of the speed and ease of changing prices to meet marketplace demands?

Internet price discrimination

The assimilation effect

Loss-leader pricing

Elastic demand

Demand curve

Examining the pricing environment

Variable costs

First

Offering different prices to different customers for the same product

The idea that two products are similar in quality and value because the prices are similar is known as _____.

Which of the following is the practice of selling items below cost in order to build traffic and sales volume in a store?

When customers are sensitive to changes in prices, and a change in price results in a substantial change in demand, the product is said to have __________.

The __________ is primarily used to show the quantity of a product that customers will buy in a given time period, at different prices that might be charged.

Involves looking at the economy, the competition, government regulation, consumer trends, and the international environment

The costs of production that are tied to and vary depending on the number of units produced

Setting pricing objectives is the __________ step in the price planning process....