set higher than market price to take advantage of profits

a price strategy-variables tied to time, availability etc.

setting lower than market price to promote brand

an item sold at less than market prices to attract customers

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MKT 315 CH 7 PRICING 2019 FOR POINTS

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Questions 10

Answers

1
Employing higher than market prices because of some attribute is
penetration pricing
skimming pricing
discount pricing
prestige pricing
2
skimming pricing
setting lower than market price to promote brand
price collusion in attempt to control pricing
allows for quick calculation of return on investment
set higher than market price to take advantage of profits
3
costs that change according to quantity of goods produced (labor & raw materials)
fixed costs
profitable costs
variable costs
standardized costs
4
Measure of price sensitivity - relationship between price adjustments & quantity demanded
price elasticity of demand
price skimming
price discrimination
price round promotions
5
theory that maximum value of item is restricted by cost of equivalent substitutes
theory of substitution
theory of Friedman's magnitude
theory of Maslow
theory of Porter's dynamic pricing
6
dynamic pricing
pricing strategy of 2 or more products packaged
a price strategy-variables tied to time, availability etc.
price strategy price just below the next round number
calculates income derived from sales of product or service
7
penetration pricing
set higher than market price to take advantage of profits
allows for quick calculation of return on investment
setting lower than market price to promote brand
price collusion in attempt to control pricing
8
exists when relatively few firms dominate the market
oligopoly
reduced competitive pricing
monopolistic
monopoly
9
A common tool for analyzing the competition of an organization
EDLP Matrix
Return on Investment calculations
Porter's Five Forces
McClean Competitive Matrix
10
Loss Leader Pricing
an item sold at less than market prices to attract customers
independent of quantity of goods produced
reliable in calculating return on investment
allows for recovery of research & development expenses

MKT 315 CH 7 PRICING 2019 FOR POINTS Flashcards | StudBud

MKT 315 CH 7 PRICING 2019 FOR POINTS

10 termsStudBud Administration360 plays

MKT 315 CH 7 PRICING 2019 FOR POINTS

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
Employing higher than market prices because of some attribute is
penetration pricing
skimming pricing
discount pricing
prestige pricing
2
skimming pricing
setting lower than market price to promote brand
price collusion in attempt to control pricing
allows for quick calculation of return on investment
set higher than market price to take advantage of profits
3
costs that change according to quantity of goods produced (labor & raw materials)
fixed costs
profitable costs
variable costs
standardized costs
4
Measure of price sensitivity - relationship between price adjustments & quantity demanded
price elasticity of demand
price skimming
price discrimination
price round promotions
5
theory that maximum value of item is restricted by cost of equivalent substitutes
theory of substitution
theory of Friedman's magnitude
theory of Maslow
theory of Porter's dynamic pricing
6
dynamic pricing
pricing strategy of 2 or more products packaged
a price strategy-variables tied to time, availability etc.
price strategy price just below the next round number
calculates income derived from sales of product or service
7
penetration pricing
set higher than market price to take advantage of profits
allows for quick calculation of return on investment
setting lower than market price to promote brand
price collusion in attempt to control pricing
8
exists when relatively few firms dominate the market
oligopoly
reduced competitive pricing
monopolistic
monopoly
9
A common tool for analyzing the competition of an organization
EDLP Matrix
Return on Investment calculations
Porter's Five Forces
McClean Competitive Matrix
10
Loss Leader Pricing
an item sold at less than market prices to attract customers
independent of quantity of goods produced
reliable in calculating return on investment
allows for recovery of research & development expenses