MKTG recharge chp 13

The internet has resulted in which two of the following that affect the competitive environment for pricing?

1) Consumers' access to pricing info from many competitors 2) companies' ability to change prices frequently

Price transparency has encouraged what type of change in the marketplace?

Aggressive price changes by sellers

Selling via the Internet reduces which pricing constraint?

Cost of changing prices

Most competitive market to least competitive market

Pure competition Monopolistic competition Oligopoly pure monopoly PC-M-O-P: Penut-butter Cups Make Oliver Pleasant

name of market where competitive market doesn't provide a pricing constraint for the marketer

Pure monopoly

Compared to other company objectives, the sales objective

can be translated more easily into meaningful targets for marketing managers

greater the ___, higher the price can be set

demand

When there are many firms competing for customers in a given market, but the products are differentiated, it is known as

monopolistic competition

The internet creates______ which leads to efficient buying decisions on the part of consumers and aggressive prices changes by sellers

price transparency

The difference between pure competition and monopolistic competition is that in the latter

products are perceived to be different

When consumers perceive that different companies sell products that are substitutable, it is known as

pure competition

A pricing objective of increasing sales can have the disadvantage of leading to price cuts that_______

reduce the revenues of other products in the firm's line