ch9

Of the​ following, which is core element of our​ free-market economy?

Price competition

Companies have to think carefully when considering price changes. They must consider which of the​ following?

Buyer and competitor reactions

A company sets a high price on a new product it introduces to maximize revenue from various market segments. Which new product pricing strategy is the company​ using?

Market-skimming pricing

When companies treat customers fairly and make certain they understand pricing and pricing​ terms, this leads to​ ________________.

building strong and lasting customer relationships

A​ company's pricing strategy is affected by internal factors such as​ ___________________.

overall marketing​ strategy, objectives, marketing​ mix, and other organizational considerations

Marketers must consider external considerations in establishing pricing. Which of the following represents those external​ considerations?

the nature of the market and demand and other environmental factors

Price ceilings are set by customer perception. Which of the following sets the floor for the price that a company​ charges?

cost, product cost

Customer perceptions of the product's value sets the ........

ceiling for its price.

When Microsoft or Apple sells software as a​ package, it is engaging in what type of​ pricing?

Product bundle pricing

Marketers use three major pricing​ strategies: ______________________.

customer​ value-based pricing,​ cost-based pricing, and​ competition-based pricing

Which of the following pricing strategies would a company use to attract a large number of buyers quickly and win a large market​ share?

Market-penetration pricing

Of the​ following, which is NOT one of the​ product-mix pricing​ situation? A. Captive-product pricing B.Product bundle pricing C.Product line pricing D.Penetration pricing E. Optional-product pricing

D.Penetration pricing

product-mix pricing​ situations are ....

Product line pricing, Optional-product pricing, Captive-product pricing, By-product pricing, Product bundle pricing,

How do companies apply pricing strategies to accommodate differences in customer segments and​ situations?

They apply a variety of price adjustment strategies.