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The amount of money charged for a product is its __________.
Question content area bottom
Part 1
A.
price
B.
profit
C.
cost
D.
breakeven point
E.
revenue
A. Price
In a broad sense, price is __________.
Question content area bottom
Part 1
A.
used in the marketing mix but not as a key strategic tool in creating and capturing customer value
B.
the sum of all the values that customers give up to gain the benefits of having or using a product or service
C.
not critical in determining a company's success
D.
the amount of money charged for a product
E.
something that marketers always increase rather than cut
B.
the sum of all the values that customers give up to gain the benefits of having or using a product or service
Which of the following statements about price is correct?
Question content area bottom
Part 1
A.
Pricing is not a problem for marketing executives.
B.
Price is not an important competitive asset.
C.
Marketers do not a have lot of flexibility in setting and changing price.
D.
Prices have no impact on a firm's bottom line.
E.
Customers have put increased pricing pressure on many companies.
E.
Customers have put increased pricing pressure on many companies.
Sale days, early-bird savings, and bonus earnings for store credit-card holders are promotions employed in which type of pricing strategy?
Question content area bottom
Part 1
A.
Good-value pricing
B.
Everyday low pricing
C.
Cost-based pricing
D.
Value-added pricing
E.
High-low pricing
E.
High-low pricing
A variation of break-even pricing is _________, which uses the concept of a break-even chart that shows the total cost and total revenue expected at different sales volume levels.
Question content area bottom
Part 1
A.
value-added pricing
B.
target return pricing
C.
high-low pricing
D.
everyday low pricing (EDLP)
E.
competition-based pricing
B.
target return pricing
New, premium movie theaters offer features such as online reserved seating, high-backed leather executive chairs with armrests and footrests, the latest in digital sound, super-wide screens, and other amenities for which they charge a higher price. This is an example of which type of pricing?
Question content area bottom
Part 1
A.
Value-added pricing
B.
Cost-plus pricing
C.
EDLP
D.
High-low pricing
E.
Break-even pricing
A.
Value-added pricing
Sadie's Restaurant has listened to its customers over the years and is now able to offer the right combination of quality and good service at a fair price. Which pricing strategy is Sadie's using?
Question content area bottom
Part 1
A.
High-low pricing
B.
Value-added pricing
C.
Cost-based pricing
D.
Good-value pricing
E.
Break-even pricing
D.
Good-value pricing
Which of the following reverses the usual process of first designing a new product, determining its cost, and then asking, "Can we sell it for that?"
Question content area bottom
Part 1
A.
Target costing
B.
Value-added pricing
C.
Cost-plus pricing
D.
Target return pricing
E.
EDLP
A.
Target costing
Which is an external factor affecting pricing?
Question content area bottom
Part 1
A.
Organizational considerations
B.
The nature of the market
C.
The company's objectives
D.
The company's overall marketing strategy
E.
The company's marketing mix
B.
The nature of the market
________ is a measure of the sensitivity of demand to changes in price.
Question content area bottom
Part 1
A.
Discount
B.
Price inelasticity
C.
Price elasticity
D.
A demand curve
E.
Variable cost
C.
Price elasticity
If the company has selected its target market and positioning carefully, then its marketing mix strategy, including price, will be fairly straightforward. Of the following, which is NOT one of the common pricing objectives?
Question content area bottom
Part 1
A.
Supporting resellers and gaining their support
B.
Avoiding government intervention
C.
Grabbing international market share
D.
Customer retention and building profitable customer relationships
E.
Preventing competition
C.
Grabbing international market share
Note 
Flashcard (46)