MKT 300 Exam 3- Ch. 12
price elasticity of demand
Dividing the percentage change in quantity demanded by the percentage change in price gives the
selective or exclusive distribution
Premium-priced products are usually marketed through
product quality
The pricing of Clinique makeup considerably higher than brands such as Cover Girl, Revlon, and Maybelline is used to communicate ____, which is the company's primary pricing objective.
false
t or f: It is usually easy to obtain an accurate price list for a competitor's products.
False
t or f: Setting prices for business customers is very similar to setting prices for consumers.
true
t or f: Noncumulative discounts are one-time reductions in prices based on the number of units purchased, the dollar value of the order, or the product mix purchased.
an external reference point
Lucy buys a new dress at T.J. Maxx that has a price tag with "Compare at $150.00. Our Price $89.99." This is an example of the use of
interpretation
What a price means or what it communicates to customers is called