Chapter 9

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​_______ of the​ product's value set the ceiling on​ pricing, while​ _______ set the floor

Customer​ perceptions; costs

​Value-based pricing begins with analyzing

consumer needs and value perceptions

The three major pricing strategies are

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

In setting its overall pricing​ strategy, companies need to consider three​ factors: ______,​ ______, and​ ______

Customer perceived​ value, costs, and​ competitors' pricing strategies

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

External factors when considering pricing include​ ________________________________ such as the​ economy, reseller​ needs, and government actions

the nature of the market and demand and environmental factors

Beyond the market and the​ economy, what other factors in its external environment must a company consider when setting​ prices?

​Resellers, the​ government, and social concerns

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

costs

Marketers use three major pricing​ strategies:

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

Other internal factors that influence pricing decisions include

the​ company's overall marketing​ strategy, objectives, and marketing​ mix, as well as organizational considerations

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

overall marketing​ strategy, objectives, and marketing​ mix, as well as organizational considerations. Price is only one element of the​ company's broader marketing strategy.


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