Marketing Chapter 11 Quiz – Flashcards
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from a marketing viewpoint, price is _____ exchanged for the ownership of use of a product or service
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the money or other considerations
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pebble used skimming pricing strategy to introduce its new Pebble Smartwatch. which of the following conditions would argue AGAINST using a skimming pricing strategy when introducing this new wearable computing device?
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increasing volume substantially reduces production costs
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what is prestige pricing?
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setting a high price so that quality-or status-conscious consumers will be attracted to the product and buy it
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the prices of products sold in vending machines are a good example of which type of competition-oriented pricing?
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customary pricing
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price elasticity of demand refers to
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the percentage change in quantity demanded relative to the percentage change in price
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a _____ visually shows that the total revenue curve and the total cost curve intersect at a point of zero profit
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break-even chart
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which is not a pricing constraint?
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social responsibility impact of the product of society
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Guitar center recently instituted "no haggle" selling prices, much to the dismay of some musicians who enjoyed bargaining and getting a better deal than a novice. but now, no mater which guitar center store a customer visits, that person will be quoted the same price for the same guitar. this is an example of a _____ policy
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one-price
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an _____ involved setting different pricing for products and services depending on individual buyers and purchase situations in light of demand, cost, and competitive factors
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flexible-price policy
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to enable manufacturers to smooth out manufacturing peaks and troughs and thereby contribute to more efficient production manufacturers offer _____
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seasonal discounts
