V49 ch 14 pricing strat questions geraldine gardiner (1)

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V49 ch 14 pricing strat questions geraldine gardiner (1)

  1. 1. TOP 10 Learning Questions for (Developing Pricing Strategies and Programs) Geraldine Y. Rodriguez-Gardiner, MD May 21, 2010
  2. 2. 1. Variable costs _____________ <ul><li>also known as overhead cost </li></ul><ul><li>Do not vary with the level of production </li></ul><ul><li>Are not directly related to the total cost </li></ul><ul><li>Are not considered normal costs </li></ul><ul><li>Are always direct costs </li></ul>
  3. 3. 2. Price is ___________________ <ul><li>the most difficult element of the marketing program to adjust </li></ul><ul><li>A minor determinant in buyer’s choice </li></ul><ul><li>The only element that produces revenue </li></ul><ul><li>not a determinant of market share </li></ul><ul><li>Not a determinant of profitability </li></ul>
  4. 4. 3. The following are needed in setting pricing policy except <ul><li>Estimating costs </li></ul><ul><li>Determining needs </li></ul><ul><li>Setting an objective </li></ul><ul><li>Selecting final price </li></ul><ul><li>Analyzing competitors </li></ul>
  5. 5. 4. The following are examples of Pricing methods except <ul><li>Mark-up pricing </li></ul><ul><li>Value pricing </li></ul><ul><li>Going-rate pricing </li></ul><ul><li>Special-event pricing </li></ul><ul><li>Perceived value pricing </li></ul>
  6. 6. 5. Which of the following is true? <ul><li>Price is one of the elements of the marketing mix that produce cost </li></ul><ul><li>Price is not a determinant of market share </li></ul><ul><li>Buyer’s is not affected by the price of the goods sold </li></ul><ul><li>Profitability is not directly proportional to the price </li></ul><ul><li>A successful price increase can raise profit considerably </li></ul>
  7. 7. 6. Which of the following statement is false <ul><li>Mark-up pricing is a type of pricing method </li></ul><ul><li>All elements in the marketing mix produce revenue </li></ul><ul><li>Buyer’s choice is affected by the price </li></ul><ul><li>Fixed cost is also known as the overhead </li></ul><ul><li>Total costs is the sum of the fixed and variable costs </li></ul>
  8. 8. 7. Abenson’s 0% interest appliance sale is a kind of <ul><li>Value-added service </li></ul><ul><li>Price skimming </li></ul><ul><li>Low-interest financing </li></ul><ul><li>Mark-up pricing </li></ul><ul><li>Value pricing </li></ul>
  9. 9. 8. Go lite fares of Cebu Pacific uses the concept of <ul><li>Going-rate pricing </li></ul><ul><li>Perceived value pricing </li></ul><ul><li>Reference pricing </li></ul><ul><li>Price cues </li></ul><ul><li>Market-penetration pricing </li></ul>
  10. 10. 9. “Happy hour” promos uses the concept of <ul><li>Time-pricing </li></ul><ul><li>Value-added service </li></ul><ul><li>Market skimming </li></ul><ul><li>Market penetration </li></ul><ul><li>Going-on rate </li></ul>
  11. 11. 10. “student meals” follows which concept <ul><li>Mark-up pricing </li></ul><ul><li>Value pricing </li></ul><ul><li>Going-on rate </li></ul><ul><li>Segment pricing </li></ul><ul><li>Time pricing </li></ul>

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