CH11

List  the general approaches to pricing. Select examples of products that you regularly use.        i.          Notice the price of each of these items For each item,      ii.          State the main benefits you are looking for in using the product.     iii.          Does the price communicate the total benefits sought?     iv.          Does the product’s price suggest good value?     v. Do you think the manufacturer or retailer is overcharging or         undercharging consumers for the product?

40 Value-based pricing is the reverse process of ________. Select one: a. good-value pricing b. cost-based pricing c. variable cost pricing d. cost-plus pricing

Value-based pricing is the reverse process of Select one: O a. good-value pricing b. cost-based pricing c. cost-plus pricing d. variable cost pricing

29)focuses on consumers' perceived value as the major factor of pricing, Select one: a. Promotional pricing b. Value-added pricing c. Cost-based pricing d. Value-based pricing

What is the main reason for establishing pricing objectives? a. to give direction for price movements over the product life cycle b. to define the initial pricec. to establish a good understanding of the market and the needs of the consumerd. to interact with the other elements of the marketing mix

32- Which one of the following is the reason for inelastic consumers that the retailers should consider in fixing the price? a. Consumers are price sensitive b. There are substitutes c. There are no substitutes d. Purchase urgency is low

1 What are some examples of bundle pricing?
  2 What are some other examples of promotional pricing?
  3 How does promotional pricing contribute to a business’s overall marketing strategy?    Please number your responses for each question (1, 2, and 3)

What are the possible problems that will be encountered if a firm uses | perceived-value pricing and lets the market determine the price of its products?

1. Select a basis for pricing your product (cost, demand, and/or competition). How will you know when it is time to revise your pricing strategy? on Playstation

8. Segmented pricing is A. Promotional money paid by manufacturers to retailers, in return to agreement to feature the manufacturer's products in some way B. Prices that buyers carry in their minds and refers to when they look at given product C. Selling a product or service at two or more prices, where the difference in prices is not based on differences in costs D. None of the above 9. Which of the following is not one of the steps in the new product development process? A. Idea generation B. Brain storming C. Idea screening D. Concept development and test 10. Some of the components of the macro environment are commonly known as PEST, which stands for A. Political, economic, social and technology

The advantage of using the cost-plus pricing strategy is:   Select one:   a. It considers market and customer information b. It ensures that the business covers all product costs and earns a profit. c. It removes any costs that do not add value to the product. d. It looks at the relationship between price and quantity demand.

1. “Pricing is not an end in itself but a means to achieving certain objectives of the marketing department of a firm.” Discuss.

Consumers often consider price: Multiple Choice to suggest potential product use. to determine income requirement. to suggest product size. only when short on funds. to suggest product quality

HAPEE TOOTHPASTE - LAMOIYAN CORPORATION Marketing Strategies Pricing Strategies  Price-adjustment Strategy A. Rationale/ Analysis B. Pricing Strategy objectives C. Process (Step-by-step) D. Expected outcome

Pricing Q:  What are different factors that should be considered by marketers before deciding price of the product? Q: How the total cost is determined/calculated by company for deciding price of the product? Q: What is breakeven point? How is it calculated? Q: How the net profit is calculated? Q: Consult your book and write the following procedures and formulas for calculating price? Cost Plus pricing Breakeven pricing Return on investment pricing Value based pricing Q: Write the methods for determining pricing of new products?

A company has two products. One is moderately priced and has fewer number of competitors. The other product is low-priced and has many substitutes. What is the best advice about pricing that you can give to this company? a. Give discounts to the low-priced items only b. Give discounts to both of these products c. Give discounts for the moderately priced products only d. Do not give discounts for any of these products

Understanding Pricing Strategies Question Content Area INTRODUCTION: How do companies price their products and services? Do they compare their prices with competitors? Do they offer discounted prices or premium prices? There are many angles to pricing strategies.   Question Content Area INSTRUCTIONS: You will agree with some of these statements and disagree with others. You may find it hard to make a decision, but you should go ahead and make a choice. Record your answers next to the statement according to the following scale: Strongly Disagree (1), Disagree (2), Agree (3), or Strongly Agree (4).     Strongly Disagree Disagree Agree Strongly Agree Question         1. A marketer does not need to be aware of the prices charged for competing brands.         2. It is not unusual for a business to charge different buyers different prices for the same quality and quantity of products.         3. Customers typically pay the list price on a car.…

Effective application of marketing mix is an effective tool in making the product reach the awareness to the prospective customers, set competitive price, identify key people, right presentation and, most importantly in generating sales, for any business organization. The marketing mix My marketing mix will consist of the following: Price: Product: Promotion: Place: People: Packaging: Positioning:

21) Which of the following statements is not correct about pricing and prices? Select one: a. It is the sum of all the values that customers sacrifice to get beoefits of having a product. b.itis the amount of money charged for a product or a service c. itis the only element in the marketing mix that produces revenuer all other elemests represent cost. d. itis one of the least important elements that determine a firm's mariket share and protitability

3.8. What do you understand by the term ‘customer price sensitivity’? What does it mean when customers are ‘price sensitive’? 3.9.  Which communication of price (1 or 2) is more effective in terms of reducing customers’price sensitivity if they are interested in the menu ‘Cheese & tomato with mushrooms andpepperoni’? Why? 3.10. In communication 1, the seller communicates three price points. In terms of ‘reference price’concept, why is it better to communicate 3 price points rather than just 2 price points?3.11. If the restaurant manager decides to bundle pizza and a fizzy drink together for a cheaperprice than buying separately, which mechanism for segmented pricing is the restaurant using?Explain your reasoning. 3.12. If the restaurant gives 30% discount for the second tray of pizza bought, which mechanism for segmented pricing is the restaurant using? Explain your reasoning. 3.13.  Should the firm give regular discount of 10% every Monday to attract customers? Give your…