You are watching: Which of the following statements about price is correct?
A. priceB. costC. profitD. revenueE. breakalso point
Price is the just component of the marketing mix that __________.A. incurs costsB. does not play a duty in producing customer valueC. attracts buyersD. produces revenueE. is identified by the consumer
Which of the following statements around price is correct?A. Prices have actually no impact on a firm"s bottom line.B. Price is not a vital competitive asset.C. Marketers do not a have lot of versatility in setting and transforming price.D. Pricing is not a problem for marketing executives.E. Customers have put enhancing pricing pressures on many type of service providers.
Which factor sets the ceiling on setting a product"s price?A. RevenueB. Customer"s value perceptionsC. CompetitorsD. DemandE. Company type of costs
Which variable sets the floor on setting a product"s price?A. CompetitorsB. DemandC. Customer"s value perceptionsD. RevenueE. Product costs
What is the initially thing marketers have to execute as soon as using value-based pricing?A. Determine product prices.B. Convince buyers that the product"s worth at a given price justifies the purchase.C. Set the tarobtain price to match customer regarded worth.D. Deauthorize a top quality product.E. Assess customer requirements and value perceptions.
The strategy of __________ means that the firm attempts to offer the best combicountry of high quality and great organization at a fair price.A. customer-based pricingB. value-added pricingC. good-worth pricingD. cost-based pricingE. day-to-day low pricing
Luxury auto manufacturers frequently add top quality, solutions, and also various other attributes to distinguish their supplies and also therefore assistance their better price. This is an example of __________.A. value-added pricingB. customer-based pricingC. good-value pricingD. cost-based pricingE. everyday low pricing
Which of the following effectively identifies the three major pricing methods supplied by marketers?A. Customer valuedash-based pricing, revenue-based pricing, and profit-based pricingB. Customer valuedash-based pricing, revenue-based pricing, and competition-based pricingC. Customer valuedash-based pricing, cost-based pricing, and revenue-based pricingD. Customer valuedash-based pricing, cost-based pricing, and competition-based pricingE. Customer valuedash-based pricing, cost-based pricing, and profit-based pricing
Which of the adhering to statements concerning customer value-based pricing is correct?A. Using this strategy, marketers should convince buyers that the product"s value at that price justifies its purchase.B. In using this strategy, companies often uncover it hard to measure the worth customers affix to their product.C. This strategy is seldom offered because buyers seldom think about perceived value when evaluating a product"s price.D. Using this strategy, marketers first design the product and also marketing regimen, then collection the price.E. Customer valuedash-based strategy begins through determining product expenses.
B. In using this strategy, companies frequently discover it hard to meacertain the worth customers connect to their product.
Which of the adhering to is a cost-based pricing approach?A. Break-even pricingB. Value-added pricingC. Competition-based pricingD. High-low pricingE. EDLP pricing
Which of the adhering to statements is true regarding costs?A. Totals expenses are the amount of long-run average prices and short-run average expenses.B. Mean price often tends to decrease via gathered manufacturing experience.C. Variable costs differ directly through the level of sales.D. Experience curve pricing is a low danger strategy.E. Costs perform not differ via various levels of production.
On a break-also chart, the break-even volume is located __________.A. at the interarea of total revenue and resolved costsB. at the intersection of total revenue and total costsC. at the intersection of taracquire profit and also total costsD. at the intersection of complete revenue and also variable costsE. at the intersection of full revenue and targain profit
How is price established using cost-plus pricing?A. The price is collection by determining the customer"s worth perceptions.B. The price is set so that full revenue covers total prices.C. The price is collection based on competitor"s prices.D. The price is set based upon demand.E. The price is set by including a standard mark-approximately the expense of the product.
New, premium movie theaters offer attributes such as digital reserved seating, high-backed leather executive chairs with armrests and footrests, the latest in digital sound and super-wide screens, and various other amenities for which they charge a greater price. This is an instance of which type of pricing?A. Break-also pricingB. Cost-plus pricingC. High-low pricingD. EDLP pricingE. Value-included pricing
Retailers such as Macy"s and also JC Penney charge greater prices on an everyday basis, however run constant promovements to reduced prices temporarily on selected items. This is an example of __________.A. value-included pricingB. high-low pricingC. EDLP pricingD. cost-plus pricingE. break-also pricing
Internal determinants that impact pricing include __________.A. the company"s overall marketing strategy, missions, and the nature of the marketB. the company"s as a whole marketing strategy, the nature of the industry, and demand.C. the company"s all at once marketing strategy, goals, and marketing mixD. the company"s in its entirety marketing strategy, goals, and demandE. the nature of the sector, demand also, and the economy.
What is target costing?A. Basing price on customer perceptions of costB. Setting acceptable expenses and also then setting the priceC. Pricing commodities without any kind of consideration to costsD. Designing a product, then determining its expense and priceE. Setting a price and then establishing prices that will certainly encertain that the price is met
Which of the adhering to statements is correct concerning various kinds of markets?A. Under oligopolistic competition, the sector is composed of many kind of buyers and also sellers trading in a unicreate commodity and also sellers perform not spend much time on marketing strategy.B. Under oligopolistic competition each seller is alert and also responsive to competitors" pricing tactics and also marketing moves.C. In a pure monopoly, the market is composed of many kind of buyers and sellers trading over a selection of prices.D. Under monopolistic competition the sector is conquered by one seller.E. Under pure competition sellers spend considerable time on marketing strategy and also pricing decisions.
B. Under oligopolistic competition each seller is alert and responsive to competitors" pricing techniques and marketing moves.
Which form of market is composed of many kind of buyers and also sellers trading over a variety of prices rather than a single market price?A. Pure competitionB. Pure monopolyC. Oligopolistic competitionD. Uniform commoditiesE. Monopolistic competition
Which of the following is true regarding the pricedash-demand also relationship?A. If demand is inelastic, a tiny change in price will certainly result in a big adjust in demand also.B. A demand also curve reflects the number of systems a company will certainly produce in a provided time period at different prices that might be charged.C. Price elasticity actions exactly how responsive price will certainly be to a adjust in demand also.D. Demand and also price are straight relatedlong dash—the higher the price, the higher the demand also.E. If demand is elastic, sellers will consider lowering their price.
Two outside components which need to be thought about in pricing decisions are __________.
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A. the marketing mix and the nature of the marketB. the marketing mix and also demandC. demand also and the nature of the marketD. agency objectives and the marketing mixE. the marketing mix and also the economy
A(n) __________ mirrors the number of units the market will certainly buy in a given time period at various prices.A. worth curveB. demand also curveC. perceptual mapD. production scheduleE. supply curve
Beyond the nature of the sector, demand, and the economic climate, what various other components in a firm"s external setting have to a agency take into consideration when setting prices?A. The company"s in its entirety marketing strategy and picking taracquire marketsB. Resellers, the federal government, and also social concernsC. The company"s as a whole marketing strategy and also marketing mixD. The federal government, resellers, and profit objectivesE. Resellers, the federal government, and the marketing mix
In which form of industry does no buyer or seller have actually a lot influence on setting the going market price?A. Monopolistic competitionB. Pure monopolyC. Pure competitionD. B2B marketE. Oligopolistic competition
When the average total expense curve is downward sloping, what should be true about the marginal price curve?
If a firm supplies labor to produce output, the firm"s production function depicts the partnership between