question
Products can be bundled or unbundled for pricing purposes. Which of the following is not an example of the bundled approach
answer
A restaurant has an a la carte menu
question
Which of the following is a product line pricing strategy?
answer
All are product line pricing strategies
question
The price leader typically possesses
answer
All answers are correct
question
Which of the following is not a strategy regarding the delivery of customer value?
answer
Market demand maximization
question
Intel differentiates its products through outstanding innovation and R&D. It uses the ______ strategy
answer
Product leadership
question
Which of the following is correct regarding price leadership
answer
Price leaders can exert power, but often it is unnecessary
question
Which of the following is not correct regarding the firm's production of value and the price charged?
answer
Prices should be set based primarily on costs with value playing a secondary role
question
Which of the following is a match?
answer
All other responses are correct
question
Which of the following is a match?
answer
Best total solution? Customer intimacy
question
T/F A price tactic is defined as the set of actions taken to achieve some balance between performance relationships and costs
answer
False
question
Which of the following is correct regarding the price ceiling?
answer
All other answers are correct
question
The _____ price is the suggested retail price set by the manufacturer, while the _____ price is the amount buyers generally pay
answer
List
Market
Market
question
Which of the price strategies below reflects a customer intimacy competitive a value proposition?
answer
Non price
question
Which of the following statements is (are) true for a price strategy?
answer
It reflects a product leadership competitive value proposition and it seeks to maximize profit margins and results in sustained research and development efforts
question
Which of the price tactics below is designed to support or reinforce repeated purchase behavior to bring about loyalty?
answer
Value pricing (everyday low price)
question
_______ is the customer's subjective estimate of the benefits of a product and ______ is the worth or price of the product in the competitive marketplace
answer
Value in use
Value in exchange
Value in exchange
question
Which of the following is a competitor-oriented price tactic?
answer
Base point
question
The ____ price is what consumers expect to pay
answer
Reference
question
The customer intimacy strategy is designed to
answer
Create close relationships between firms and customers
question
Value based pricing is
answer
A strategy that reflects customer value, not simply costs
question
The price umbrella is a price
answer
Set by a leader to encourage other companies to enter or stay in a market
question
A product is in the introduction stage of a capital intensive industry. Which of the following pricing strategies should be used?
answer
Penetration
question
The company that is most successful in cutting costs is generally
answer
The winner of a price war
question
All prices around the reference price that consumers believe reflect good value is the
answer
Acceptable price range
question
Which of the price tactics below is designed to create some type of symbolic utility?
answer
Odd/even pricing
question
The operational excellence strategy is designed to
answer
Produce lower costs than competitors while achieving consistent quality
question
Which of the following is correct regarding pricing?
answer
Customers should receive an excellent value for the price they pay and marketers should earn a satisfactory return
question
When a product is perceived by a customer in a use situation, its perceived value
answer
Increases
question
Regarding odd-even prices, consumers tend to associate prices ending in:
answer
Odd numbers (9, 7, 5) as being lower quality and price
question
Where does value based pricing begin?
answer
Understand the value customers perceive in owning the product and examine their options for acquiring similar products and brands
question
T/F The purpose of a price strategy is to specify how price changes will be managed over the life of the product
answer
True
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