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Chapter 20 Quiz 4
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1
Product mix decisions, where the most appropriate range of products or services are determined can be tactical in nature or longer term:
A)True
B)False
2
The economic value to the customer (EVC) is the price at which management are willing to sell a product, given competitive forces in the market place and any operating cost reduction provided by the product:
A)True
B)False
3
Value-based pricing is a pricing strategy that takes into account the costs and benefits experienced by the customer that extend beyond the initial purchase price:
A)True
B)False
4
The demand curve is a graph of the change in total revenue that accompanies a change in the quantity of product sold:
A)True
B)False
5
Organisations may consider legal issues when setting prices, along with political and ethical considerations:
A)True
B)False
6
Some of the factors that affect a company’s pricing decisions include customer value, efficient business processes and market positioning:
A)True
B)False
7
Return on investment pricing is widely used in construction companies, printers and repair shops:
A)True
B)False





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