Marketing Chapter 11

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In the early periods of the introduction of HDTV, the prices were extremely high. The strategy being used is considered to be what?

Price skimming

Companies set not a single​ price, but a pricing​ ________ that covers different items in its line and changes over time as products move through their life cycles.

structure

Segmented pricing is only effective when​ ________.

the cost of segmenting does not exceed the revenue obtained from the price difference

Amazon developed the Kindle electronic book reader and sells it at a reasonably low margin. The firm uses which pricing strategy to capture additional profits through the sale of easily downloaded online books and magazines?

Captive-product pricing

Bill goes to a sporting goods store several times and spends a considerable amount of time checking out golf​ clubs, taking practice swings with​ them, and asking the sales staff questions. He compares​ prices, and then goes home and buys a set online at a lower price.​ Bill's behavior is called​ what?

Showrooming

Using​ ________ pricing, companies are able to turn their trash into​ cash, allowing them to make the price of their main product more competitive.

by-product

Which of the following product mix pricing strategies did Polaroid use when it set the general price range of its cameras low and the markup on its film high?

captive product pricing

Which of the following price adjustment strategies involves reducing prices to reward customer responses such as volume​ purchases, paying​ early, or participating in​ sales-support programs?

discount and allowance pricing

Consumers are less likely to use price to judge the quality of a product when they _________.

have experience with the product

​Freight-absorption pricing is used for​ ________.

holding on to increasingly competitive markets

When Bic introduced disposable​ razors, the product and market met several criteria for using​ ________ pricing. The market was price​ sensitive, and there were substantial economies of scale in distribution and production.

market-penetration

Companies introducing a new product can choose between two broad strategies. One is market-skimming pricing. Which of the following is an alternative strategy?

market-penetration pricing

Companies that set a low price for a new product in order to attract a large number of buyers and a large market share are using the​ ________ strategy.

market-penetration pricing

________ allowances are payments or price reductions that reward dealers for participating in advertising and sales support programs.

promotional

Hearth & Home, a store which sells household products, has announced a one-week sale on its new carpet line. This is an example of __________.

promotional pricing

Which of the following is a price adjustment strategy that considers how a​ customer's perception of a product is influenced by its​ price?

psychological pricing

________ are formed by noting current​ prices, remembering past​ prices, or assessing the buying situation.

reference prices

By definition, ___________ pricing is used when a firm sells a product or service at two or more prices, even though the difference in price is not based on differences in costs.

segmented

The New Age Gallery has three admission prices for​ students, adults, and​ seniors, even though all three groups are entitled to the same services. This form of pricing is called​ ________ pricing.

​customer-segment

Which of the following product mix pricing strategies involves pricing additional or accessory products sold along with the main​ product?

​optional-product pricing

Which of the following product mix pricing strategies involves pricing products that can only be used with the main​ product?

captive product pricing

Which of the following would most likely lead to a company initiating a price​ increase?

over-demand

If Detroit DLX charges the same price for the delivery of its product to customers located in the states near the Great​ Lakes, but a different price to customers​ elsewhere, the company is using​ ________.

zone pricing


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