1. Practice of selling more than one product for a single lower price is:
  1. Price Lining
  2. Tactical Pricing
  3. Price Bundling
  4. Price Fixing
  1. The following are all listed goals for coupons EXCEPT:
  1. Prompt consumers to buy a product
  2. Save the consumer money
  3. Encourage Repurchases
  4. Reward Loyal Customers
  1. Occurs when competitors that produce and sell competing products work together to control prices:
  1. Horizontal Price Fixing
  2. Vertical Price Fixing
  3. Price Control Fixing
  4. Collude Price Fixing
  1. As their name implies, _____ determines the final price to charge by starting with the cost.

A. Competitor based pricing

B. Premium pricing

C. Value based pricing

D. Cost-based pricing

  1. By assigning a price to a category like “cheap,” “expensive,” and “fair,” suggests that consumers are affected by ______.
  1. Psychological Factors
  2. Emotional Factors
  3. Evaluation
  4. Marketing Factors
  1. Pricing strategies include all of the following except:

A.Cost-Based

B.Competitor-Based

C.Region-Based

D.Value-Based

  1. By reducing consumers’ search cost, Everyday Low Pricing
  1. Adds value
  2. Reduces price comparison with competitors
  3. Prices tend to be lower overall
  4. All of the above
  1. An example of Entrepreneurial Marketing the book uses would be:
  1. Target
  2. Family Dollar
  3. Sam’s Club
  4. Macy’s
  1. Price Skimming appeals to consumers who are willing to pay a premium price to have the innovation ______
  1. Before it is available to the public
  2. Delivered
  3. First
  4. None of the Above
  1. Price reductions aimed at consumers include the following except:
  1. Markdowns
  2. Seasonal Discounts
  3. Coupons
  4. All of the above

Answer Key:

  1. C
  2. B
  3. A
  4. D
  5. A
  6. C
  7. D
  8. B
  9. C
  10. D

Chapter 14 Quiz – Group # 9

  1. ______is the tactic that involves marketers setting a price ceiling and a price floor for an entire line of similar products and then setting a few other price points to represent differences in quality.
  2. Price Lining
  3. Slotting allowances
  4. Cash discount
  5. Price bundling
  1. What is the tactic that involves the practice of selling more than one product for a single, lower price?
  2. Leader pricing
  3. Price bundling
  4. Market penetration strategy
  5. Price skimming
  1. Which of the following is an example of consumer price reductions?
  2. Quantity discounts
  3. Markdowns
  4. Seasonal Discounts
  5. All of the above
  1. When a firm sets a very low price for one or more of its products with the intent to drive its competition out of business, it is using:
  2. Price discrimination
  3. Bait-and-switch
  4. Loss leader pricing
  5. Predatory pricing
  1. What is NOT one of the pricing strategies discussed in the chapter?
  2. Cost -based pricing
  3. Competitor-based pricing
  4. Quality-based pricing
  5. Value-based pricing
  1. What is it called when a firm deliberately prices a product above the prices set for competing products to capture those consumers who always shop for the best?
  2. Cost of Ownership method
  3. Premium pricing
  4. Reference pricing
  5. Everyday low pricing (EDLP)
  1. How did Texas Instruments decide to price their new DLP technology when it was first introduced?
  2. Priced low at first then increased the price over time
  3. Priced low at first and kept the price low
  4. Priced high and kept the price high in comparison to its competitors
  5. Priced high initially and then priced lower in response to competition
  1. What is everyday low pricing?
  2. a strategywhere companies stress the continuity of their retail prices at a level somewhere between the regular, non-sale price and the deep-discount sale prices their competitors may offer.
  3. a tactic that attempts to build store traffic by aggressively pricing anda advertising a regularly purchased item, often priced at or just above the store's cost.
  4. a price that ends in an odd number.
  5. a strategy that relies on the promotion of sales.
  1. Why are "odd prices" used?
  2. To prevent sales clerks from pocketing money.
  3. Consumers look at the "12" of "12.99" and think it's significantly lower than "13.00"
  4. Consumers infer that an odd price must be precisely calculated.
  5. All of the above
  1. Which of these is not a business to business pricing tactic?
  2. Seasonal Discounts
  3. Cash Discounts
  4. Allowances
  5. Leader Pricing

Answers:

  1. A
  2. B
  3. D
  4. D
  5. C
  6. B
  7. D
  8. A
  9. D
  10. D