Chapter 10 Set

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A tablet manufacturer is new to the market and finds its costs are very high initially. One year​ later, the​ per-unit cost has decreased by​ 22% from the first days of operation. The tablet manufacturer has realized this drop in average cost over time through what​ process?

Experience curve

In the aftermath of the Great Recession of 2008dash-​2009, many consumers rethought the​ price-value equation and became more value conscious. In​ response, which of the following is a recommended​ long-term pricing strategy for​ marketers?

Lower prices for the short term. THIS IS WRONG, Its probably to offer more affordable lines

The learning curve is representative of the​ ________.

drop in the average​ per-unit production cost that comes with accumulated production experience

If demand changes greatly with a small change in​ price, the demand is​ ________.

elastic

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

increased consumer price sensitivity

If demand hardly changes with a small change in​ price, the demand is​ ________.

inelastic

A company that sets prices based on the costs of​ producing, distributing, and selling the product plus a fair rate of return for the​ company's effort and risk is using which pricing​ strategy?

Cost based pricing

What is the simplest and most common form of pricing manufacturers and resellers​ use?

Cost plus pricing

A marketer considers​ buyers' perceptions as key to pricing and product design. The marketer considers all other marketing mix variables before the marketing program is set. Which pricing strategy is being​ used?

Value based pricing

As a manufacturer increases the​ price, ________.

break even volume drops

Companies with lower costs​ ________.

can set lower prices that result in smaller margins but greater sales and profits

Department stores such as​ Kohl's and​ Macy's practice​ high-low pricing by​ ________.

having frequent sale days for store​ credit-card holders

Stores like​ Target, Macy's, and J.C.​ Penney's use a pricing​ strategy, which is directly the opposite of​ EDLP, everyday low prices. What pricing tactic do they use that involves charging higher prices on an everyday basis and frequent promotions to lower prices temporarily on selected items through​ sales, coupons, and other promotional​ activities?

high low

​________ pricing involves charging higher prices on an everyday basis but running frequent promotions to lower prices temporarily on selected items.

high-low

Which of the following is an internal factor that affects pricing decisions in a​ company?

the overall marketing strategy of the company

A company that sets prices based on the costs of​ producing, distributing, and selling the product plus a fair rate of return for the​ company's effort and risk is using which pricing​ strategy?

​Cost-based pricing

Which of the following involves introducing​ less-expensive versions of​ established, brand name​ products?

​good-value pricing


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