Jewellarena10 Multipletypequestionschap14 Developingpricingstrategies

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Jewellarena10 Multipletypequestionschap14 DEVELOPING PRICING STRATEGIES

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Jewellarena10 Multipletypequestionschap14 Developingpricingstrategies

  1. 1. TOP 10 Learning Questions for Assignment in Marketing Management Developing Pricing Strategies and Programs Chapter 14 Jewell A. Arena May 2010
  2. 2. 1. Prices were set by negotiation between <ul><li>Buyer </li></ul><ul><li>Seller </li></ul><ul><li>Buyers and Sellers </li></ul><ul><li>Prospect and Marketer </li></ul><ul><li>Company and Distribution Channel </li></ul>Page 416
  3. 3. 2. Customers are less price sensitive to … <ul><li>High-cost items </li></ul><ul><li>Items they buy regularly </li></ul><ul><li>Low-cost items </li></ul><ul><li>More substitutes </li></ul><ul><li>More competitors </li></ul>Page 425
  4. 4. 3. In adapting price the following are needed except… <ul><li>Geographical Pricing </li></ul><ul><li>Price Discounts and Allowances </li></ul><ul><li>Promotional Pricing </li></ul><ul><li>Differentiated Pricing </li></ul><ul><li>Setting the Price </li></ul>Page 437
  5. 5. 4. The following are the six-step procedure in pricing except … <ul><li>Selecting the Pricing Objective </li></ul><ul><li>Determining Demand </li></ul><ul><li>Estimating Costs </li></ul><ul><li>Analyzing Competitor’s Costs, Prices and Offers </li></ul><ul><li>Selecting Value-Perceived Price </li></ul><ul><li>Select the Final Price </li></ul>Page 423
  6. 6. 5. Which of the following is false? <ul><li>Top management sets general pricing objectives and policies and often approves the prices proposed by lower levels of management. </li></ul><ul><li>Companies do their pricing in single way, to avoid confusion. </li></ul><ul><li>In small companies, prices are often set by the boss. </li></ul><ul><li>In large companies, pricing is handled by division and product-line managers. </li></ul>Page 417
  7. 7. 6. Which is False Statement? <ul><li>The higher the elasticity, the greater the volume growth. </li></ul><ul><li>Marketers need to know how responsive or elastic, demand would be to a change in price. </li></ul><ul><li>Long-run price elasticity may differ from short-run elasticity. </li></ul><ul><li>If demand is elastic, seller will consider increasing the price. </li></ul>Page 427
  8. 8. 7. Back-to-school sales at National Bookstore is an example of <ul><li>Differentiated Pricing </li></ul><ul><li>Special Discount Pricing </li></ul><ul><li>Special-event Pricing </li></ul><ul><li>Promotional Pricing </li></ul><ul><li>Price Discounts and Allowances Pricing </li></ul>Page 440
  9. 9. 8. Is an example of … <ul><li>Price Discounts and Allowances </li></ul><ul><li>Buyback Arrangement </li></ul><ul><li>Offset </li></ul><ul><li>Compensation Deal </li></ul><ul><li>Unbundling </li></ul>
  10. 10. 9. <ul><li>Psychological discounting </li></ul><ul><li>Perceived-value pricing </li></ul><ul><li>Longer payment terms </li></ul><ul><li>Special event pricing </li></ul><ul><li>Time Pricing </li></ul>Is an example of…
  11. 11. Is an example of… <ul><li>Image Pricing </li></ul><ul><li>Differentiated Pricing </li></ul><ul><li>Channel Pricing </li></ul><ul><li>Product-form Pricing </li></ul><ul><li>Customer-segment Pricing </li></ul>
  12. 12. TOP 10 Learning Questions for Assignment in Marketing Management Developing Pricing Strategies and Programs Chapter 14 Jewell A. Arena May 2010

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