Chapter 10 Quiz

________ is the only element in the marketing mix that produces revenue.

Price

________ involves setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for effort and risk.

Cost-based pricing

________ pricing uses buyers' perceptions of value as the key to pricing.

Customer value-based

Which of the following shows the number of units the market will buy in a given time period, at different prices that might be charged?

demand curve

Developing an effective integrated marketing mix program involves coordinating price decisions with product design, promotion, and ________ decision

distribution

Under oligopolistic competition ________.

he market consists of only a few large sellers

Dips in the economy and the instant price comparisons made possible by the Internet have contributed to ________.

increased consumer price sensitivity

The Great Recession of 2008 to 2009 triggered a shift in consumer attitudes toward ________.

price and quality

In which situation is the market dominated by one seller?

pure monopoly

Price setting is usually determined by ________ in small companies.

the top managers