BMGT350 Chapter 9

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​When, if​ ever, is price discrimination​ allowed?

If the seller can prove that its costs are different when selling to different​ retailers, then it is legal.

Of the​ following, which is true about​ pricing? A. Federal law is the overriding authority on pricing. B. Price competition is a core element of our​ free-market economy. Your answer is correct. C. Companies usually are free to charge whatever prices they wish. D. Companies have no obligation to consider broader societal pricing concerns. E. Companies do not need to communicate reasons for price increases to customers.

B

New, premium movie theaters offer features such as online reserved​ seating, high-backed leather executive chairs with armrests and​ footrests, the latest in digital​ sound, super-wide​ screens, and other amenities for which they charge a higher price. This is an example of which type of​ pricing?

Value-added pricing

Sale​ days, early-bird​ savings, and bonus earnings for store​ credit-card holders are promotions employed in which type of pricing​ strategy?

high-low pricing

Adjusting prices in real time to fit individual customer​ situations, locations, and buying behaviors is known as​ ________ pricing.

personalized

​________ is a measure of the sensitivity of demand to changes in price.

price elasticity

Bath​ & Body Works uses​ _________ pricing when the company offers​ "three-fer" deals on its products​ (such as​ soaps, lotions, and​ moisturizers).

product bundle

The Ford Mustang is offered in several different models. Ford uses​ __________ pricing to determine the price steps between the different models.

product line

Laws prohibit​ ________, meaning a manufacturer cannot require dealers to charge a specified retail price for its products.

resale price maintenance

​__________ is one major objective associated with a​ market-penetration pricing strategy.

winning large market share


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