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| 1 | |
The three basic pricing strategies are cost-based, value- based and ___________. |
| | A) | market-based |
| | B) | structurally-based |
| | C) | consumer-based |
| | D) | company-based |
| | E) | competitor-based |
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| 2 | |
One of the reasons marketers don't always select a _______________ pricing strategy is that it necessitates a great deal of consumer research to be implemented successfully. |
| | A) | market-based |
| | B) | research-based |
| | C) | consumer-based |
| | D) | reference-based |
| | E) | value-based |
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| 3 | |
To understand the way consumers arrive at their perceptions, make judgments and finally invoke a choice, marketers must understand __________________ to be able to effectively price a product or service. |
| | A) | basic psychology |
| | B) | economics |
| | C) | geodemographics |
| | D) | the dynamics of disposable income |
| | E) | game theory |
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| 4 | |
A _________________ is an example of an external reference price. |
| | A) | lifetime value price |
| | B) | odd-even price |
| | C) | price shown in another currency, e.g., Euros, |
| | D) | "regular price" or "original price" |
| | E) | competitor's price |
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| 5 | |
Developing pricing strategies for ___________________ is one of the most challenging tasks a marketer can undertake. |
| | A) | new products or services |
| | B) | mature services |
| | C) | mature products |
| | D) | promotion specials |
| | E) | imported products |
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| 6 | |
To recoup high research and development costs, signal high quality, limit demand or test consumers' price sensitivity, marketers use a(n) _______________ strategy. |
| | A) | market penetration |
| | B) | leader pricing |
| | C) | monopolistic |
| | D) | loss leader |
| | E) | price skimming |
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| 7 | |
If Hewlett Packard introduced a new home printer system for which consumers could only use HP paper, toner and software, they might logically use a ______________ pricing strategy for their printer to profit from the sale of paper, toner and software. |
| | A) | market penetration |
| | B) | price bundling |
| | C) | price fixing |
| | D) | price referencing |
| | E) | price skimming |
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| 8 | |
Which of the following is a common business to business pricing tactic? |
| | A) | seasonal discounts. |
| | B) | slotting allowances. |
| | C) | quantity discounts. |
| | D) | advertising allowances. |
| | E) | all of the above. |
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| 9 | |
Price lining, price bundling and leader pricing are all pricing tactics aimed at: |
| | A) | weaker competitors |
| | B) | stronger competitors |
| | C) | consumers |
| | D) | upstream members of the supply channel |
| | E) | downstream members of the supply channel. |
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| 10 | |
Manufacturers like _______________ because as much as 90 percent of consumers never bother to redeem them. |
| | A) | coupons |
| | B) | price bundles |
| | C) | price lines |
| | D) | seasonal discounts |
| | E) | rebates |
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| 11 | |
Which of the following is NOT one of the major ethical and/or legal problems encountered in pricing? |
| | A) | Deceptive price advertising |
| | B) | Price negotiating |
| | C) | Predatory pricing |
| | D) | Price discrimination |
| | E) | Price fixing |
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| 12 | |
If all members of the Washington County Realty Association agreed to charge a 6 percent commission for representing home sellers, the association members would be engaging in: |
| | A) | vertical price fixing. |
| | B) | consumer discrimination. |
| | C) | horizontal price fixing. |
| | D) | monopoly pricing. |
| | E) | predatory pricing. |
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