The amount of money charged for a product is its​ __________.

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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

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