preview

Define and Discuss the Ideas of Global Orientation?

Decent Essays
Open Document

Chapter 10 Pricing Products: Understanding and Capturing Customer Value

1) ________ is the amount of money charged for a product or service.
A) Experience curve
B) Demand curve
C) Price
D) Wage
E) Salary
Answer: C
Diff: 1 Page Ref: 290
Skill: Concept
Objective: 10-1

2) Price is the only element in the marketing mix that produces ________.
A) revenue
B) variable costs
C) expenses
D) outfixed costs
E) stability
Answer: A
Diff: 1 Page Ref: 290
Skill: Concept
Objective: 10-1

3) ________ is an important element in the marketing mix. It is the only element that does not represent costs.
A) Current profit maximization
B) Market share leadership
C) Price
D) Product quality leadership
E) The target market …show more content…

A) High-low pricing
B) Target pricing
C) Cost-plus pricing
D) EDLP
E) Penetration pricing
Answer: D
Diff: 2 Page Ref: 293
Skill: Concept
Objective: 10-2

17) ________ involves attaching features and services to differentiate a company 's offers and to support charging higher prices..
A) Break-even pricing
B) Target pricing
C) Value-added pricing
D) Cost-plus pricing
E) Pricing-down
Answer: C
Diff: 1 Page Ref: 293
Skill: Concept
Objective: 10-2

18) ________ is a company 's power to escape price competition and to justify higher prices and margins.
A) Variable cost
B) Pricing power
C) Target cost
D) Fixed cost
E) Unit cost
Answer: B
Diff: 2 Page Ref: 293
Skill: Concept
Objective: 10-2

19) To maintain and increase a company 's ________, a firm must retain or build the value of its marketing offer.
A) variable cost
B) pricing power
C) target cost
D) fixed cost
E) image
Answer: B
Diff: 3 Page Ref: 293
Skill: Concept
Objective: 10-2
20) When there is price competition, many companies adopt ________ rather than cutting prices to match competitors.
A) pricing power
B) value-added strategies
C) fixed costs
D) price elasticity
E) image pricing
Answer: B
Diff: 2 Page Ref: 293
Skill: Concept
Objective: 10-2

21) Ryanair offers free flights to a quarter of its customers and rock-bottom

Get Access
Related
Get Access