Pricing MCQs

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The money or other considerations exchanged for the ownership or use of a good or service is known as:






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The practice of exchanging goods and services for other goods and services rather than money is called:






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The ratio of perceived benefits to price is equal to:






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Price is a critical decision made by a marketing execution because price has a direct Impact on:






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Factors that limit the latitude of prices that can be set are:






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A higher price can usually be charged at what stage of the PLC?






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In actual practice, research indicated that most firms change the price of their major products about:






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The type of competitive market where the market sets the price:






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The type of competition market where there is very little advertising:






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Expectations that specify the role of price in a firm’s marketing and strategic plans are:






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A price objective aimed at allowing a firm to get through struggles to attract customers with lower prices (even allowing some losses) to earn market ...






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Newsweek conducted a pricing experiment in 11 cities with different priced to find out:






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Up to date marketing research is essential because of how quickly consumers:






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Newsweek found that if the price was lowered from $2.00 to $1.58 quantity demanded increased to 4.5 million from 3 million resulting in sales of:






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Total revenue is defined as:






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When quantity demanded decreases as price increase this is elastic demand and is expressed as:






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Price elasticity is important to marketing managers because of its relationships to:






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Research generally shows that cigarettes are price ______?






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Four cost concepts are important in pricing decisions: total cost, fixed cost, variable cost, and:






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A techniques that analyzes the relationship between total revenue and total cost to determine profitability is called:






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A key to setting a final price for a product is to find a(n):






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Setting the highest initial price is called price:






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Setting a low initial price on a new product to appeal to a mass market is price:






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Using price as a measure of the quality of a product and setting price high is:






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The marketing of two or more products in a single "package" price is called:






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When seats on an airline flight are priced differently then what kind of pricing is being used?






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When the price setter stresses the supply or cost side of the pricing problem they are using what approach?






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Summing the total unit cost of providing a product and adding a specific amount to the cost to arrive at a price is called:






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A price setter may chose to balance both revenue and costs to set price using:






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Some products are priced based on what tradition or other competition factor dictate. This is called:






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When a company sets the same price for all customers then they use a:






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A manager’s pricing decision is immediately apparent to most competitors through what is called the:






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Reductions from list price given by the seller are called:






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To encourage customers to buy larger quantities of a product firms offer a special discount commonly known as a:






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Quantity discounts are of two general kinds:






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To encourage retailers to pay their bills quickly, manufacturers offer a special discount:






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When sellers in the channel undertake certain advertising or selling activities to promote a product they can qualify for:






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FOB origin pricing means:






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A conspiracy among firms to set prices is termed:






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The practice of charging a very low price with the intent of driving competitors out of business is: