Test 7 19-20_ Marketing
a psychological pricing strategy.
Odd-even pricing is
the value that is exchanged for products in a marketing transaction.
Price is
Most flexible.
Price is considered to be the variable in the marketing mix that is
promotional pricing.
Price leaders, comparison discounting, and special-event pricing are applications of
nonprice competition
Sellers that emphasize distinctive product features to encourage brand preferences among customers are practicing
professional pricing
Services that are performed by lawyers, dentists, or doctors are typically priced using ____; sometimes these prices are not based on the amount of time that is spent in each situation, but are based on a flat fee regardless of the difficulty involved.
periodic discounting.
The "White Sale" that many department stores have every year a few weeks after Christmas is an example of
barter
The oldest form of exchange trading of products is known as
Market share
Under Armour is establishing a ______ pricing objective to maintain or increase its product's sales in relation to total industry sales.
Premium pricing
A product that has more features than those of its competition, or that is perceived to be of higher quality, warrants using which type of pricing strategy?
they prefer buying a combination of bundled products in a single transaction, which saves time, effort, and perhaps money.
Bundle pricing may be perceived to be of value by customers because
special-event pricing.
Chris is planning three sales during the third quarter of the year at Toys R' Us. The first is at the beginning of the school year, the second is the week before Halloween, and the third is Black Friday. These sales would be considered to be
product quality
If an organization sets prices to recover research and development expenses and establish a premium quality image for its product, it would be using a ____ pricing objective.
overall; marketing
Marketers must take steps to make sure that the pricing objectives they set are consistent with the organization's ____ objectives and ____ objectives.
selling price; cost
Markup is measured either as a percentage of ____ or a percentage of ____.
return on investment
Most pricing objectives based on ____ are achieved by trial and error because not all cost and revenue data are available when prices are set.
bait pricing
When Gabriella logs on to Dell's website, she sees a notebook model priced well below $1,000. As she continues through the site to view the other options, she realizes the first one she saw was the cheapest model available, but she of course wants more features. Dell is utilizing
cost-plus
When a seller's costs are usually determined during or after a product is made and then a specified percentage or dollar amount is added to the cost to establish a price, an organization is using ____ pricing.
value
When consumers are making do with less expensive products and shopping more selectively, manufacturers and retailers must focus on the ____ of their products.
develop pricing objectives.
When establishing prices, a marketer's first step is to