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Exam 12: Pricing Concepts

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Question 21

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The Panama Jack Company utilizes a special strategy to sell its ECO-shirt line. Its basic promotional tool is the discount. These discounts offered to middlemen for performing certain channel activities are referred to as ____ discounts.

A) trade
B) cumulative
C) noncumulative
D) push
E) intermediary

F) A) and D)
G) A) and C)

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Question 22

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Price is the most easily adjusted ingredient in the marketing mix.

A) True
B) False

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Question 23

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To gain market share, when Hyundai first entered the U.S. car market it did so with a comparatively low price strategy. One of the negative side effects of making this pricing decision is

Comparison of various prices and various breakeven points will tell the marketer exactly what price to charge.

When a customer is considering the purchase of a product in a less-familiar product category, that individual is likely to rely more heavily on

Which factor is least likely to affect pricing decisions?

Dividing the percentage change in quantity demanded by the percentage change in price gives the

The purpose of the pricing concept is to quantify and express the value of items in a market exchange.

Fixed costs vary with the number of units produced or sold.

What are the differences among value-conscious, price-conscious, and prestige-sensitive customers?

A customer looking for the lowest price on a mattress without concern for the quality of the mattress or the status gained by buying and using a certain brand is a price-conscious customer.

If Ralph Lauren offers to reduce the price of its women's blazers when retailers buy more than 100 pieces, the designer is offering a ____ discount.

Scenario 12.2 Use the following to answer the questions. The BASF Chemical Company in Germany has developed a new rubberized coating. The product has an application for cell phones and other hand-held electronic devices that gives them protection from falls and scratches. BASF plans to market the product directly to businesses that manufacture the casings for these types of products. BASF currently uses a system of salespeople headquartered in Germany, while its primary business customers are in China. -Refer to Scenario 12.2. BASF is considering the problem of actual distance in delivering its product from the plant in Germany to some of its customers in China. Which pricing strategy would help overcome this problem?

Both the Federal Trade Commission Act and the Wheeler-Lea Act prohibit

Marginal revenue is the change in total revenue that occurs when a firm sells an additional unit of product.

Below the breakeven point, a firm is operating

Suppose that the frozen foods division of Swanson purchases food trays and boxes from the packaging division. The form of pricing used to charge the frozen foods division is called

Pricing whereby the buyer absorbs all or part of the freight costs is freight absorption pricing.

If Wilson Sporting Goods faces a standard demand curve that exists for most products, as it raises the price of its tennis rackets, the

Marketers have more difficulty adjusting their prices than they do any other marketing mix variable.