BUSML 3250 Ch. 19 quiz

What type of discount is given to a business purchaser for performing activities such as transporting, storing, and selling? a. Cash b. Trade c. Service d. Geographic e. Quantity

b. Trade

A price developed in the consumer's mind through experience with the product is called a(n) a. value-price guideline. b. internal reference price. c. external reference price. d. internalized price. e. frame of reference.

b. internal reference price.

Premium-priced products are usually marketed through a. intensive or selective distribution. b. exclusive or intensive distribution. c. selective or exclusive distribution. d. exclusive distribution only. e. complex marketing channels.

c. selective or exclusive distribution.

Sellers that emphasize distinctive product features to encourage brand preferences among customers, rather than price, are practicing a. product competition. b. price competition. c. competitor differentiation. d. nonprice competition. e. brand differentiation.

d. nonprice competition.

A company trying to position itself as value oriented should NOT a. use any advertising for its products. b. set prices similar to those of its competitors. c. set prices that are reasonable relative to product quality. d. use premium pricing for its products. e. consider costs when determining the price of products.

d. use premium pricing for its products.